Common use of Partial Damage - Insured Clause in Contracts

Partial Damage - Insured. If the Premises or the Building are damaged by a risk covered under fire and extended coverage insurance insuring Landlord, then Landlord shall restore such damage provided insurance proceeds are available to Landlord to pay ninety percent (90%) or more of the cost of restoration, and provided such restoration by Landlord can be completed within eight (8) months after the commencement of work in the opinion of a licensed architect or engineer appointed by Landlord. In such event this Lease shall continue in full force and effect, except that Tenant shall, so long as the damage is not due to the act or omission of Tenant, be entitled to an equitable reduction of Base Rent and Tenant's Share of Excess Building Operating Costs while such restoration takes place, such reduction to be based upon the extent to which the damage or restoration efforts materially interfere with Tenant's use of the Premises.

Appears in 3 contracts

Sources: Office Lease (U S Wireless Data Inc), Office Lease (Extensity Inc), Office Lease (Geac Computer Corp LTD)

Partial Damage - Insured. If the Premises or the Building are damaged by a risk any casualty which is covered under fire and extended coverage the “All-Risk” insurance insuring Landlordcarried by Landlord pursuant to Paragraph 23.C., then Landlord shall restore such damage the damage, provided insurance proceeds are available to Landlord to pay ninety percent (90%) or more of the full cost of restoration, restoration and provided such restoration by Landlord can be completed within eight one hundred eighty (8) months 180) days after the commencement of the work in the reasonable opinion of a licensed architect or engineer appointed by Landlord. In such event this Lease shall continue in full force and effect, except that Tenant shall, so long as the damage is not due to the act or omission of Tenant, shall be entitled to an equitable a proportionate reduction of Base Monthly Rent and Tenant's Share of Excess Building Operating Costs while such restoration for which Landlord is obligated hereunder takes place, such proportionate reduction to be based upon the extent to which the damage or and restoration efforts materially interfere with Tenant's ’s use of the Premises.

Appears in 3 contracts

Sources: Office Lease Agreement, Office Lease Agreement (Geron Corp), Office Lease Agreement (Geron Corp)

Partial Damage - Insured. If In the event the Premises or the Building are damaged by a risk any casualty which is covered under fire and extended coverage insurance insuring carried by Landlord, then Landlord shall restore such damage provided insurance proceeds are available to Landlord to pay ninety eighty percent (9080%) or more of the cost of restoration, restoration and provided such restoration by Landlord can be completed within eight sixty (8) months 60) days after the commencement of the work in the opinion of a licensed registered architect or engineer appointed by Landlord. In such event this Lease shall continue in full force and effect, except that Tenant shall, so long as the damage is not due to the act or omission of Tenant, shall be entitled to an equitable proportionate reduction of Base Rent and Tenant's Share of Excess Building Operating Costs rent while such restoration takes placeplace (including the restoration which Tenant is required to make pursuant to paragraph 23.5 below, not to exceed 30 days), such proportionate reduction to be based upon the extent to which the damage or restoration efforts materially interfere with Tenant's use of ’s business in the Premises.

Appears in 1 contract

Sources: Lease (Trulia, Inc.)

Partial Damage - Insured. If the Premises or the Building are damaged by a risk any casualty which is covered under fire and extended coverage the “All-Risk” insurance insuring Landlordcarried by Landlord pursuant to Paragraph 23.C., then Landlord shall restore such damage the damage, provided insurance proceeds are available to Landlord to pay ninety percent (90%) or more of the cost of restoration, restoration and provided such restoration by Landlord can be completed within eight one hundred twenty (8) months 120) days after the commencement of the work in the opinion of a licensed architect or engineer appointed by Landlord. In such event this Lease shall continue in full force and effect, except that Tenant shall, so long as the damage is not due to the act or omission of Tenant, shall be entitled to an equitable a proportionate reduction of Base Monthly Rent and Tenant's Share of Excess Building Operating Costs while such restoration for which Landlord is obligated hereunder takes place, such proportionate reduction to be based upon the extent to which the damage or and restoration efforts materially interfere with Tenant's ’s use of the Premises.

Appears in 1 contract

Sources: Office Lease Agreement (Spatializer Audio Laboratories Inc)

Partial Damage - Insured. If the Premises or the Building are damaged by a risk any casualty which is covered under fire and extended coverage the “All‑Risk” insurance insuring Landlordcarried by Landlord pursuant to Paragraph 23.C., then Landlord shall restore such damage the damage, provided insurance proceeds are available to Landlord to pay ninety percent (90%) or more of the full cost of restoration, restoration and provided such restoration by Landlord can be completed within eight one hundred eighty (8) months 180) days after the commencement of the work in the reasonable opinion of a licensed architect or engineer appointed by Landlord. In such event this Lease shall continue in full force and effect, except that Tenant shall, so long as the damage is not due to the act or omission of Tenant, shall be entitled to an equitable a proportionate reduction of Base Monthly Rent and Tenant's Share of Excess Building Operating Costs while such restoration for which Landlord is obligated hereunder takes place, such proportionate reduction to be based upon the extent to which the damage or and restoration efforts materially interfere with Tenant's ’s use of the Premises.

Appears in 1 contract

Sources: Office Lease Agreement (Corcept Therapeutics Inc)