Common use of Partial Damage - Insured Loss Clause in Contracts

Partial Damage - Insured Loss. Subject to the provisions of Paragraphs 11.4, 11.5 and 11.6, if at any time during the term of this Lease, there is damage which is an Insured Loss and which falls into the classification of Premises Partial Damage, then Landlord shall, unless Landlord's mortgagee requires otherwise, at Landlord's expense, repair such damage (but not Tenant's fixtures, equipment or tenant improvements unless the same have become a part of the Premises pursuant to Paragraph 9 hereof) as soon as reasonably possible, and this Lease shall continue in full force and effect. If the insurance proceeds received by Landlord are not sufficient to effect such repair, Landlord shall give notice to Tenant of the amount required in addition to the insurance proceeds to effect such repair. Tenant shall contribute the required amount to Landlord within ten (10) days after Tenant has received notice from Landlord of the shortage in the insurance. When Tenant shall contribute such amount to Landlord, Landlord shall make such repairs as soon as reasonably possible and this Lease shall continue in full force and effect. Tenant shall in no event have any right to reimbursement for any such amount so contributed.

Appears in 4 contracts

Samples: Commercial Lease (Imarx Therapeutics Inc), Commercial Lease (Imarx Therapeutics Inc), Commercial Lease (Imarx Therapeutics Inc)

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Partial Damage - Insured Loss. Subject to the provisions of Paragraphs 11.49.4, 11.5 9.5 and 11.69.6, if at any time during the term of this Lease, Lease there is damage which is an Insured Loss and which falls into the classification of Premises Partial Damage or Premises Building Partial Damage, then Landlord shall, unless Landlord's mortgagee requires otherwise, at Landlord's expense, repair such damage (damage, but not Tenant's fixtures, equipment or tenant improvements unless the same have become a part of the Premises pursuant to Paragraph 9 hereof) 7.5 hereof as soon as reasonably possible, possible and this Lease shall continue in full force and effect. If Notwithstanding the above, if the insurance proceeds received by Landlord are not sufficient to effect such repair, Landlord shall give notice to Tenant of the amount required in addition to the insurance proceeds to effect such repair. Tenant shall contribute the required amount to Landlord within ten (10) days after Tenant has received notice from Landlord of the shortage in the insurance. When Tenant shall contribute such amount to Landlord, Landlord shall make such repairs as soon as reasonably possible and this Lease shall continue in full force and effect. Tenant shall in no event have any right to reimbursement for any such amount amounts so contributed.

Appears in 1 contract

Samples: Lease (Brooks Automation Inc)

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