Loss Covered by Insurance. If at any time prior to the expiration or termination of this Lease, the Premises or the Project are wholly or partially damaged or destroyed, the loss to Landlord from which is fully covered by proceeds of insurance maintained by Landlord or for Landlord's benefit, which damage renders the Premises totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's business, then: 11.2.1 If all repairs to the Premises or Project can, in Landlord's reasonable judgment, be completed within one hundred eighty (180) days following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4), Landlord shall, at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions), repair the same, and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three (3) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty (180) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant 11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one hundred eighty (180) days following the date of notice to Landlord of such damage or destruction, without the payment of overtime or other premiums, then either party may by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairs, terminate this Lease as of the date of the occurrence of such damage or destruction. Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, the amount of the deductible under Landlord's insurance policy. If the damage involves portions of the Project in addition to the Premises, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the Project.
Appears in 2 contracts
Samples: Standard Industrial Lease Agreement, Standard Industrial Lease Agreement (Intest Corp)
Loss Covered by Insurance. If If, at any time prior to the expiration of the Term or prior termination of this Lease, the Premises or the Project Building are wholly or partially damaged or destroyeddestroyed by a risk, the loss to Landlord from which is fully covered by proceeds of insurance maintained by Landlord or for Landlord's ’s benefit, which damage risk renders the Premises totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's ’s business, then:
11.2.1 (a) If all repairs to the such Premises or Project Building can, in Landlord's reasonable ’s judgment, be completed within one hundred eighty sixty (18060) days following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence intentional or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4)’s employees, Landlord shall, at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions)’s expense, repair the same, same and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of the Basic Monthly Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three five (35) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty ; and
(180b) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or intentional, willful misconduct or omission of Tenant or Tenant's Parties’s employees, and if all such repairs cannot, in Landlord's reasonable ’s judgment, be completed within one hundred eighty sixty (18060) days following the date of notice to Landlord of such damage or destruction, destruction without the payment of overtime or other premiums, Landlord may, at Landlord’s sole and absolute option, upon written notice to Tenant given within thirty (30) days after notice to Landlord of the occurrence of such damage or destruction, elect to repair such damage or destruction at Landlord’s expense, and in such event, this Lease shall continue in full force and effect but the Basic Monthly Rent shall be proportionately reduced as hereinabove provided in Section 5.01(a). If Landlord does not elect to make such repairs, then either party may may, by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairsother, terminate this Lease as of the date of the occurrence of such damage or destruction. Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, the amount of the deductible under Landlord's insurance policy. If the damage involves portions of the Project in addition to the Premises, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the Project.
Appears in 2 contracts
Samples: Asset Purchase Agreement, Asset Purchase Agreement (Us Concrete Inc)
Loss Covered by Insurance. If at any time prior to the expiration or termination of this Lease, the Premises or the Project are Building is wholly or partially damaged or destroyeddestroyed by a risk, the loss to Landlord from which is fully covered by proceeds of insurance maintained or required to be maintained by Landlord or for Landlord's ’s benefit, which damage risk renders the Premises Building totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's ’s business, then:
11.2.1 (a) If (i) all repairs to the Premises or Project Building can, in Landlord's ’s reasonable judgment, be completed within one two hundred eighty seventy (180270) days following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums; (ii) if such damage or destruction is not the result of negligence or willful misconduct of Tenant or Tenant’s Parties; and (iii) Landlord is not prevented by applicable Laws from rebuilding the Building to its preexisting condition, Landlord shall, at Landlord’s expense, repair the same and this Lease shall remain in full force and effect and a proportionate reduction of Rent shall be allowed Tenant for such portion of the Building as shall be rendered inaccessible or unusable to Tenant during the period of time that such portion is unusable or inaccessible.
(b) If such damage or destruction cannot, in Landlord’s reasonable judgment, be repaired within two hundred seventy (270) days following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4), Landlord shallmay, at Landlord's expense (provided Landlord can obtain all necessary governmental permits ’s sole and approvals therefor at reasonable cost and on reasonable conditions)absolute option, repair the same, and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable upon written notice to Tenant during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three given within forty-five (3) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty (180) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one hundred eighty (18045) days following the date of after notice to Landlord of the occurrence of such damage or destruction, without elect to repair such damage or destruction at Landlord’s expense, and in such event, this Lease shall continue in full force and effect but the payment of overtime or other premiumsRent shall be proportionately reduced as provided in Section 12.2(a). If Landlord does not elect to make such repairs, then either party may by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairsother, terminate this Lease as of the date of the occurrence of such damage or destruction. If Landlord elects to repair the damage to the Building, Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, Landlord the amount of the deductible under Landlord's ’s insurance policy. If the damage involves portions of the Project in addition , subject to the Premises, Tenant shall pay only a portion provisions of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the ProjectSection 6.3 (f).
Appears in 2 contracts
Samples: Lease Agreement (Palm Inc), Lease Agreement (Palmsource Inc)
Loss Covered by Insurance. If If, at any time prior to the expiration or termination of this Lease, the Premises or the Project Building in which the Premises are located is wholly or partially damaged or destroyeddestroyed by a casualty, the which loss to Landlord from which is (except for any applicable deductible) fully covered by proceeds of insurance maintained by Landlord or for Landlord's benefitbenefit (or required to be maintained by Landlord pursuant to Section 13), which damage casualty renders the Premises totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's business, then:
11.2.1 (a) REPAIRS WHICH CAN BE COMPLETED WITHIN NINE MONTHS. Within twenty (20) days of notice to Landlord of such damage or destruction, Landlord shall provide Tenant with notice of its determination of whether the damage or destruction can be repaired within nine (9) months of such damage or destruction without the payment of overtime or other premiums. If all repairs to the such Premises or Project Building can, in Landlord's reasonable judgment, be completed within one hundred eighty nine (1809) days months following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result Landlord, upon receipt of the negligence or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4)insurance proceeds with respect thereto, Landlord shall, shall at Landlord's expense (provided Landlord can obtain all necessary governmental permits promptly commence and approvals therefor at reasonable cost and on reasonable conditions), diligently proceed to repair the same, same and this Lease shall remain in full force and effect and a proportionate reduction of Base the Rent shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant Tenant, and which is not used by Tenant, during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three (3) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty (180) day period (subject to force majeure delays and any delays caused not used by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one hundred eighty (180) days following the date of notice to Landlord of such damage or destruction, without the payment of overtime or other premiums, then either party may by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairs, terminate this Lease as of the date of the occurrence of such damage or destruction. Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, the amount of the deductible under Landlord's insurance policy. If the damage involves portions of the Project in addition to the Premises, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the Project.
Appears in 1 contract
Samples: Office Lease (QRS Corp)
Loss Covered by Insurance. If at any time prior to the expiration or -------------------------- termination of this Lease, the Premises or the Project Property are wholly or partially damaged or destroyeddestroyed by a risk, the loss to Landlord from which is fully covered by proceeds of insurance maintained by Landlord or for Landlord's benefit, which damage risk renders the Premises totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's business, then:
11.2.1 A. Repairs Which Can Be Completed Within One Year. If all repairs to the such ----------------------------------------------- Premises or Project Property can, in Landlord's reasonable judgment, be completed within one hundred eighty (1801) days year following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence or intentional willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4)employees, guests or invitees, Landlord shall, at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions)expense, repair the same, same and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent Rental shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant Tenant, and which is not used by Tenant, during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent Rental by reason of any portion of the Premises being unusable or inaccessible due to the intentional willful misconduct of Tenant or Tenant's employees for a period equal to three five (35) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty (180) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one hundred eighty (180) days following the date of notice to Landlord of such damage or destruction, without the payment of overtime or other premiums, then either party may by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairs, terminate this Lease as of the date of the occurrence of such damage or destruction. Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, the amount of the deductible under Landlord's insurance policy. If the damage involves portions of the Project in addition to the Premises, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the Project.
Appears in 1 contract
Loss Covered by Insurance. If at any time prior to the expiration or termination of this Lease, the Premises or the Project are wholly or partially damaged or destroyed, destroyed and the loss cost to complete the appropriate restoration and repair the Premises exceeds the amount of insurance proceeds available to Landlord from which in connection with such Casualty by an amount in excess of $75,000.00 (the "LANDLORD CONTRIBUTION LIMIT") or if Tenant agrees in writing to fund the amount in excess of the Landlord Contribution Limit that is fully covered by proceeds of insurance maintained by Landlord or for Landlord's benefit, which damage renders required to complete the Premises totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's businessappropriate restoration and repair, then:
11.2.1 If all repairs restoration and repair to the Premises or Project can, in Landlord's reasonable judgment, be completed within one hundred eighty (180) days following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4), Landlord shall, at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions), repair the same, and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three (3) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty (180) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant.
11.2.2 If such damage or destruction is not all restoration and repairs to the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs Premises cannot, in Landlord's reasonable judgment, be completed within one hundred eighty (180) days following the date of notice to Landlord of such damage or destruction, destruction without the payment of overtime or other premiums, then either party may Landlord may, at Landlord's sole and absolute option, by written notice to the other Tenant given within twenty sixty (2060) days following the date of delivery of Landlord's after notice to Tenant of the estimated time to complete the repairs, terminate this Lease as of the date Landlord of the occurrence of such damage or destruction. , (i) elect to repair such damage or destruction at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions), and in such event, this Lease shall continue in full force and effect but the Rent shall be proportionately reduced as provided in Paragraph 11.2.1 or (ii) elect to terminate this Lease or (b) if such damage renders the Premises or a material portion thereof, totally or partially inaccessible or unusable by Tenant shall pay in the ordinary conduct of Tenant's business, Tenant may by written notice to Landlord, Landlord given within ten sixty (1060) days following Landlord's demand therefor, the amount of the deductible under Landlord's insurance policy. If the occurrence of such damage involves portions of the Project in addition or destruction, elect to the Premises, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the ProjectTerminate this Lease.
Appears in 1 contract
Samples: Lease Agreement (Emerson Radio Corp)
Loss Covered by Insurance. If at any time prior to the expiration or termination of this Lease, the Premises or the Project are Building is wholly or partially damaged or destroyeddestroyed by a risk, the loss to Landlord from which is fully covered by proceeds of the property insurance maintained by Landlord or for Landlord's benefitTenant hereunder pursuant to Section 13.1.2 hereof, without regard to any deductible amount with respect to such insurance, which damage risk renders the Premises Building totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's business, then:
11.2.1 (a) If (i) all repairs to the Premises or Project Building can, in Landlord's reasonable judgment, bc completed within two hundred seventy (270) days following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums; and (ii) Landlord is not prevented by applicable Laws from rebuilding the Building to its preexisting condition, Landlord shall, at Landlord's expense, repair the same and this Lease shall remain in full force and effect and a proportionate reduction of Rent shall be allowed Tenant for such portion of the Building as shall be rendered inaccessible or unusable to Tenant during the period of time that such portion is unusable or inaccessible.
(b) If such damage or destruction cannot, in Landlord"s judgment, be completed repaired within one two hundred eighty seventy (180270) days following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4), Landlord shallmay, at Landlord's expense (provided Landlord can obtain all necessary governmental permits Landlord"s sole and approvals therefor at reasonable cost and on reasonable conditions)absolute option, repair the same, and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable upon written notice to Tenant during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three given within sixty (3) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty (180) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one hundred eighty (18060) days following the date of after notice to Landlord of the occurrence of such damage or destruction, without elect to repair such damage or destruction at Landlord"s expense, and in such event, this Lease shall continue in full force and effect but the payment of overtime or other premiumsRent shall be proportionately reduced as provided in Section 10.2(a). If Landlord does not elect to make such repairs, then either party may by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairsother, terminate this Lease as of the date of the occurrence of such damage or destruction. If Landlord elects to repair the damage to the Building, Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, Landlord any and all proceeds payable under the amount of the deductible under Landlord's property insurance policy. If the damage involves portions of the Project in addition to the Premises, be maintained by Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises pursuant to the total cost of repairing all of the damage in the Project.Section 13.1.2
Appears in 1 contract
Loss Covered by Insurance. If If, at any time prior to the expiration or termination of this Lease, the Premises or the Project are Building or the Property is wholly or partially damaged or destroyeddestroyed by a casualty, the loss to Landlord from which is fully covered (except for the normal deductible) or would have been fully covered by proceeds of insurance required to be maintained under this Lease by Landlord or for Landlord's benefit, which damage casualty renders the Premises totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's business, then:then within thirty (30) days of notice to Landlord of such damage or destruction, Landlord shall provide Tenant with notice of its determination of whether the damage or destruction can be repaired within three (3) months following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premium.
11.2.1 (a) REPAIRS WHICH CAN BE COMPLETED WITHIN CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISION. If all such repairs to the Building or Premises or Project can, in Landlord's reasonable judgment, be completed within one hundred eighty CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premium, Landlord shall, at Landlord's expense, promptly commence and diligently pursue to repair the same and this Lease shall remain in full force and effect and a proportionate reduction of Rental shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant, and which is not used by Tenant, during the period of time that such portion is unusable or inaccessible and not used by Tenant. If such repairs are not completed within the period stated in this Section 14.1 (180a), Tenant may, within thirty (30) days following the end of such period (but prior to the completion of such repairs), terminate this Lease subject to the conditions set forth in Section 14.1 (b) hereinbelow.
(b) REPAIRS WHICH CANNOT BE COMPLETED WITHIN CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. If all such repairs to the Building and Premises cannot, in Landlord's reasonable judgment, be completed within CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if then CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION Landlord may, by written notice to Tenant no later than ninety (90) days after the occurrence of such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4), Landlord shall, at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions), repair the same, and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable elect to Tenant during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three (3) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty (180) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one hundred eighty (180) days following the date of notice to Landlord of such damage or destruction, without the payment of overtime or other premiums, then either party may by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairs, terminate this Lease as of the date of the occurrence of such damage or destruction. Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, the amount of the deductible under Landlord's insurance policy. If the damage involves portions of the Project in addition to the Premises, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the Projectdestruction CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
A. CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISISON.
B. CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISISON.
C. CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.
D. CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISION.
E. CONFIDENTIAL INFORMATION OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISION.
Appears in 1 contract
Samples: Lease Agreement (Brilliant Digital Entertainment Inc)
Loss Covered by Insurance. If at any time prior to the expiration or ------------------------- termination of this Lease, the Premises or the Project Property are wholly or partially damaged or destroyeddestroyed by a risk, the loss to Landlord from which is fully covered by proceeds of insurance maintained by Landlord or for Landlord's benefit, which damage risk renders the Premises totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's business, then:
11.2.1 A. Repairs Which Can Be Completed Within One Year. If all repairs to the such ---------------------------------------------- Premises or Project Property can, in Landlord's reasonable judgment, be completed within one hundred eighty (1801) days year following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence or intentional willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4)employees, guests or invitees, Landlord shall, at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions)expense, repair the same, same and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent Rental shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant Tenant, and which is not used by Tenant, during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent Rental by reason of any portion of the Premises being unusable or inaccessible due to the intentional willful misconduct of Tenant or Tenant's employees for a period equal to three five (35) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty (180) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one hundred eighty (180) days following the date of notice to Landlord of such damage or destruction, without the payment of overtime or other premiums, then either party may by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairs, terminate this Lease as of the date of the occurrence of such damage or destruction. Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, the amount of the deductible under Landlord's insurance policy. If the damage involves portions of the Project in addition to the Premises, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the Project.
Appears in 1 contract
Loss Covered by Insurance. If at any time prior to the expiration or termination of this Lease, the Premises or the Project are wholly or partially damaged or destroyed, the loss to Landlord from which is fully (exclusive of any deductible) covered by proceeds of insurance maintained by Landlord or for Landlord's benefit, which damage risk renders the Premises totally Building totally, or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's business, then:
11.2.1 If all repairs to the Premises or Project can, in (a) If(i) Landlord's reasonable judgment, be completed within one hundred eighty Estimate is equal to or less than ninety (18090) days following the date of notice to days; and (ii) Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not prevented by applicable Laws from rebuilding the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4)Building to its preexisting condition, Landlord shall, at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions)expense, repair the same, same and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent shall be allowed Tenant for such portion of the Premises Building as shall be rendered inaccessible or unusable to Tenant during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three (3) consecutive business days or less. Notwithstanding the foregoingIn such event, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty (180) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one hundred eighty (180) days following the date of notice to Landlord of such damage or destruction, without the payment of overtime or other premiums, then either party may by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairs, terminate this Lease as of the date of the occurrence of such damage or destruction. Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, Landlord the amount of the deductible under Landlord's insurance policy, which in no event shall exceed Five Thousand Dollars ($5000). If the damage involves portions of the Project in addition to Building other than the PremisesPremises leased by Tenant, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage damages in the Premises to the total cost of repairing all of the damage in on the ProjectBuilding.
(b) If Landlord's Estimate exceeds ninety (90) days, then either party may by written notice to the other, given within thirty (30) days after Landlord gives Tenant notice of Landlord's Estimate, terminate this Lease as of the date of the occurrence of such damage or destruction.
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Loss Covered by Insurance. If at any time prior to the expiration or termination of this Lease, the Premises or the Project are wholly or partially damaged or destroyed, the loss to Landlord from which is fully covered by proceeds of insurance maintained by Landlord or for Landlord's benefit, which damage renders the Premises totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's business, then:
11.2.1 (a) If all repairs to the Premises or Project can, in Landlord's reasonable judgment, be completed within one two hundred eighty (180200) days following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4), Landlord shall, at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions), repair the same, and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant during the period of time that such portion is unusable or inaccessible. There shall be he no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three five (35) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty .
(180b) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one two hundred eighty (180200) days following the date of notice to Landlord of such damage or destruction, destruction without the payment of overtime or other premiums, then either party may may, at its option, by written notice to the other other, given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairsstating that all such repairs cannot, in Landlord's judgment, be completed within two hundred (200) days, terminate this Lease as of the date of the occurrence of such damage or destruction; provided, however, if neither party elects to terminate this Lease within said twenty (20) day period, then this Lease shall remain in full force and effect. Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, the amount of Tenant's Proportionate Share of the deductible under Landlord's insurance policy, which deductible shall not exceed commercially reasonable levels. If the damage involves portions of the Project in addition to other than the Premises, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the Project.
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Samples: Standard Industrial Lease Agreement (Jill Kelly Productions Holding, Inc.)
Loss Covered by Insurance. If at any time prior to the expiration or termination of this LeaseSublease, the Premises or the Project are wholly or partially damaged or destroyed, the loss to Landlord from which is fully covered by proceeds of insurance maintained by Landlord or for Landlord's benefit, which damage renders the Premises totally or partially inaccessible or unusable of use by Tenant Sublessee in the ordinary conduct of TenantSublessee's business, then:
11.2.1 (a) If all repairs to the Premises or Project can, in LandlordSublessor's reasonable judgment, be completed within one two hundred eighty (180200) days following the date of notice to Landlord Sublessor of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant Sublessee or TenantSublessee's Parties (as contemplated in Paragraph 11.4), Landlord Sublessor shall, at LandlordSublessor's expense (provided Landlord Sublessor can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions), repair the same, and this Lease Sublease shall remain in full force and effect and a proportionate reduction of Base Rent shall be allowed Tenant Sublessee for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant Sublessee during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three five (35) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty .
(180b) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant Sublessee or TenantSublessee's Parties, and if all such repairs cannot, in LandlordSublessor's reasonable judgment, be completed within one two hundred eighty (180200) days following the date of notice to Landlord Sublessor of such damage or destruction, destruction without the payment of overtime or other premiums, then Sublessor shall notify Sublessee within forty-five (45) days following the date of notice to Sublessor of such damage or destruction, that all such repairs cannot, in Sublessor's judgment, be completed within said two hundred (200) days. If Sublessor so notifies Sublessee, either party may by terminate this Sublease upon written notice to the other party given within twenty (20) days following the date of delivery of Landlordafter Sublessor's notice to Tenant of the estimated time Sublessee that all such repairs cannot, in Sublessor's judgment, be completed within said two hundred (200) days; provided, however, if Sublessee fails to complete the repairs, terminate this Lease as of the date of the occurrence of such damage or destructionSublease within said twenty (20) day period from Sublessor's notice, then Sublessee shall have no further right to terminate this Sublease under this Paragraph 11.2(b). Tenant Sublessee shall pay to LandlordSublessor, within ten (10) days following LandlordSublessor's demand therefor, the amount of the deductible under LandlordSublessor's insurance policy. If the damage involves portions of the Project in addition to other than the Premises, Tenant Sublessee shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the Projectdamage.
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Samples: Sublease (Blue Holdings, Inc.)
Loss Covered by Insurance. If If, at any time prior to the expiration or termination of this Lease, the Premises or the Project Building in which the Premises are located is wholly or partially damaged or destroyeddestroyed by a casualty, the which loss to Landlord from which is (except for any applicable deductible) fully covered by proceeds of insurance maintained by Landlord or for Landlord's benefitbenefit (or required to be maintained by Landlord pursuant to Section 13), which damage casualty renders the Premises totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's business, then:;
11.2.1 (a) REPAIRS WHICH CAN BE COMPLETED WITHIN FOUR (4) MONTHS. Within twenty (20) days of notice to Landlord of such damage or destruction, Landlord shall provide Tenant with notice of its determination of whether the damage or destruction can be repaired within four (4) months of such damage or destruction without the payment of overtime or other premiums. If all repairs to the such Premises or Project Building can, in Landlord's reasonable judgment, be completed within one hundred eighty four (1804) days months following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4), Landlord shall, at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions)expense, repair the same, same and this Lease shall remain in full force and effect and a proportionate reduction of Base the Rent shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant Tenant, and which is not used by Tenant, during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three (3) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty (180) day period (subject to force majeure delays and any delays caused not used by Tenant, its agents, employees or contractors.
(b) REPAIRS WHICH CANNOT BE COMPLETED WITHIN FOUR (4), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one hundred eighty (180) days following the date of notice to Landlord of such damage or destruction, without the payment of overtime or other premiums, then either party may by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairs, terminate this Lease as of the date of the occurrence of such damage or destruction. Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, the amount of the deductible under Landlord's insurance policy. If the damage involves portions of the Project in addition to the Premises, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the Project.
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Samples: Office Lease (QRS Corp)
Loss Covered by Insurance. If at any time prior to the expiration or termination of this Lease, the Premises or the Project are wholly or partially damaged or destroyed, the loss to Landlord from which is fully covered by proceeds of insurance maintained by Landlord or for Landlord's benefit, which damage renders the Premises totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's business, then:
11.2.1 (a) If all repairs to the Premises or Project can, in Landlord's reasonable judgment, be completed within one two hundred eighty (180200) days following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4), Landlord shall, at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions), repair the same, and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three five (35) consecutive business days or less. Notwithstanding Reduction of Rent shall only be permitted to the foregoingextent of Landlord's recovery upon its loss of rental income insurance, if which Landlord is unable shall maintain to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty extent it remains commercially reasonable to do so.
(180b) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one two hundred eighty (180200) days following the date of notice to Landlord of such damage or destruction, destruction without the payment of overtime or other premiums, then either party may may, at its sole and absolute option, by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairsstating that all such repairs cannot, in Landlord's judgment, be completed within two hundred (200) days, terminate this Lease as of the date of the occurrence of such damage or destruction; provided, however, if neither party elects to terminate this Lease within said twenty (20) day period, then this Lease shall remain in full force and effect. If such repairs are not in fact completed within such two hundred (200) day period and such failure is not due in whole or in part to the acts or omissions of Tenant or Tenant's Parties, then Tenant may, within ten (10) days following such two hundred (200) day period, deliver notice to Landlord of Tenant's election to terminate this Lease unless Landlord completes the repairs within sixty (60) days following such notice; provided, however, if (i) Tenant fails to timely deliver such termination notice to Landlord within such ten (10) day period, or (ii) the repairs are completed within the sixty (60) day period following Landlord's receipt of notice from Tenant, then this Lease shall remain in full force and effect and Tenant's termination notice shall be deemed null and void and of no force or effect. Tenant shall pay to Landlord, within ten (10) days following Landlord's demand therefor, the amount of the deductible under Landlord's insurance policypolicy (which amount shall not exceed commercially reasonable levels). If the damage involves portions of the Project in addition to other than the Premises, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the Project.
Appears in 1 contract
Loss Covered by Insurance. If at any time prior to the expiration or termination of this Lease, the Premises or the Project are wholly or partially damaged or destroyed, the loss to Landlord from which is fully covered by proceeds of insurance maintained by Landlord or for Landlord's benefit, which damage renders the Premises totally or partially inaccessible or unusable by Tenant in the ordinary conduct of Tenant's business, then:
11.2.1 (a) If all repairs to the Premises or Project can, in Landlord's reasonable judgment, be completed within one two hundred eighty (180200) days following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, and if such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties (as contemplated in Paragraph 11.4), Landlord shall, at Landlord's expense (provided Landlord can obtain all necessary governmental permits and approvals therefor at reasonable cost and on reasonable conditions), repair the same, and this Lease shall remain in full force and effect and a proportionate reduction of Base Rent shall be allowed Tenant for such portion of the Premises as shall be rendered inaccessible or unusable to Tenant during the period of time that such portion is unusable or inaccessible. There shall be no proportionate reduction of Base Rent or other abatement of Rent by reason of any portion of the Premises being unusable or inaccessible for a period equal to three five (35) consecutive business days or less. Notwithstanding the foregoing, if Landlord is unable to substantially complete the repairs set forth above within the afore-mentioned one hundred eighty .
(180b) day period (subject to force majeure delays and any delays caused by Tenant, its agents, employees or contractors), Tenant
11.2.2 If such damage or destruction is not the result of the negligence or willful misconduct or omission of Tenant or Tenant's Parties, and if all such repairs cannot, in Landlord's reasonable judgment, be completed within one two hundred eighty (180200) days following the date of notice to Landlord of such damage or destruction, destruction without the payment of overtime or other premiums, then either party may may, at its sole and absolute option, by written notice to the other given within twenty (20) days following the date of delivery of Landlord's notice to Tenant of the estimated time to complete the repairsstating that all such repairs cannot in Landlord's judgment, be completed within said two hundred (200) days, terminate this Lease as of the date of the occurrence of such damage or destruction. Tenant ; provided however, if neither party elects to terminate this Lease within said twenty (20) day period, then this Lease shall pay to Landlord, within ten (10) days following Landlord's demand therefor, the amount of the deductible under Landlord's insurance policy. If the damage involves portions of the Project remain in addition to the Premises, Tenant shall pay only a portion of the deductible based on the ratio of the cost of repairing the damage in the Premises to the total cost of repairing all of the damage in the Project.full force and effect,
Appears in 1 contract
Samples: Standard Industrial Lease Agreement (Quaker Fabric Corp /De/)