Partial Damage - Uninsured. Subject to the provisions of Paragraphs 9.3 and 9.4, if at any time during the term hereof the Premises are damaged, except by a negligent or willful act of Lessee (in which event Lessee shall make the repairs, at its expense) and such damage was caused by a casualty not covered under an insurance policy maintained by Lessor. Lessor may at Lessor's option either (i) repair such force and effect, or (ii) give written notice to Lessee within thirty (30) days after the date of the occurrence of such damage of Lessor's intention to cancel and terminate this Lease as of the date of the occurrence of such damage. In the event Lessor elects to give such notice of Lessor's intention to cancel and terminate this Lease, Lessee shall have the right within ten (10) days after the receipt of such notice to give written notice to Lessor of Lessee's intention to repair such damage at Lessee's expense, without reimbursement from Lessor, in which event this Lease shall continue in full force and effect, and Lessee shall proceed to make such repairs as soon as reasonably possible. If Lessee does not give such notice within such 10-day period this Lease shall be canceled and terminated as of the date of the occurrence of such damage, and neither party shall have further right or obligations hereunder.
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Partial Damage - Uninsured. Subject to the provisions of Paragraphs 9.3 and Section 9.4, if at any time during the term hereof the Premises are is damaged, except by a negligent or willful act of Lessee (in which event Lessee shall make the repairsTenant, at its expense) and such damage was caused by a casualty not covered under an insurance policy required to be maintained by Lessor. Lessor may Tenant pursuant to Section 8.2, and the reasonably estimated cost to repair such damage exceeds $1,000,000, Tenant may, at Lessor's option Tenant’s option, either (i) repair such damage as soon as reasonably possible at Tenant’s expense, in which event this Lease shall continue in full force and effect, or (ii) give written notice to Lessee Landlord within thirty (30) days after the date of the occurrence of such damage of Lessor's Tenant’s intention to cancel and terminate this Lease as of the date of the occurrence of such damage. In the event Lessor Tenant elects to give such notice of Lessor's Tenant’s intention to cancel and terminate this Lease, Lessee Landlord shall have the right within ten (10) days after the such receipt of such notice to give written notice to Lessor Tenant of Lessee's Landlord’s intention to repair such damage at Lessee's Landlord’s expense, without reimbursement from LessorTenant, in which event this Lease shall continue in full force and effect, and Lessee Landlord shall proceed to make such repairs as soon as reasonably possible. If Lessee Landlord does not give such notice within such ten (10-) day period period, this Lease shall be canceled and terminated as of the date of the occurrence of such damage, and neither party shall have further right or obligations hereunder.
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Samples: Lease Agreement
Partial Damage - Uninsured. Subject to In the provisions event more than one third of Paragraphs 9.3 and 9.4, if at any time during the term hereof the Premises are materially damaged, except by a negligent or willful act or omission of Lessee (in which event Lessee shall make the repairsTenant, at its expense) and such damage was caused by a any casualty not covered under an insurance policy required to be maintained by Lessor. Lessor may pursuant to Section 12.2, then Landlord may, at LessorLandlord's option option, either (ia) repair such damage as soon as reasonably possible at Landlord's expense, in which event this Lease shall continue in full force and effect, or (iib) give written notice to Lessee Tenant within thirty (30) days after the date of the occurrence of such damage of LessorLandlord's intention to cancel and terminate this Lease as of the date of the occurrence of such the damage. In the event Lessor Landlord elects to give such notice of Lessor's intention to cancel and terminate this Lease, Lessee Lease pursuant to this Section 13.2,Tenant shall have the right within ten (10) days after the receipt of such die required notice to give written notice to Lessor notify Landlord in writing of LesseeTenant's intention to repair such damage at LesseeTenant's expense, without reimbursement from LessorLandlord, in which event this Lease shall continue in full force and effect, and Lessee Tenant shall proceed to make such repairs as soon as reasonably possible. If Lessee Tenant does not give such notice within such the ten (10-) day period period, this Lease shall be canceled and terminated as of the date of the occurrence of such damage, and neither party shall have further right or obligations hereunder.
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Samples: Industrial Lease Agreement (Titan Motorcycle Co of America Inc)
Partial Damage - Uninsured. Subject to In the provisions of Paragraphs 9.3 and 9.4, if at any time during the term hereof event the Premises are partially damaged, except by a negligent or willful act of Lessee (in which event Lessee shall make the repairs, at its expense) and such damage was caused by a any casualty not covered under an insurance policy required to be maintained by Lessor. pursuant to this Lease, then Lessor may may, at Lessor's option either (ieither:
1) repair Repair such damage as soon as reasonably possible at Lessor's expense, in which event this Lease shall continue in full force and effect, or (iiwith out any abatement of rent, or,
2) give Give written notice to Lessee within thirty (30) days after the date of the occurrence of such damage of Lessor's intention election to cancel and terminate this Lease as of the date of the occurrence of such the damage. In the event Lessor elects to give such notice of Lessor's intention to cancel and terminate this LeaseLease pursuant to this paragraph, Lessee shall have the right within ten (10) days after the receipt of such the required notice to give written notice to notify Lessor in writing of Lessee's intention to repair such damage at Lessee's expense, without reimbursement from Lessor, in which event this Lease shall continue in full force and effect, and Lessee shall proceed to make such repairs as soon as reasonably possible. If Lessee does not give such notice within such the ten (10-) day period period, this Lease shall be canceled and terminated as of the date of the occurrence of such damage, and neither party shall have further right or obligations hereunder.
Appears in 1 contract
Samples: Lease Agreement
Partial Damage - Uninsured. Subject to In the provisions of Paragraphs 9.3 and 9.4, if at any time during event the term hereof improvements on the Premises are damaged, except by a negligent or willful act or omission of Lessee (in which event Lessee shall make the repairsTenant, at its expense) and such damage was caused by a any casualty not covered under an insurance policy required to be maintained by Lessor. Lessor may pursuant to Section 12B, then Landlord may, at LessorLandlord's option option, either (ia) repair such damage as soon as reasonably possible at Landlord's expense, in which event this Lease shall continue in full force and effect, or (iib) give written notice to Lessee Tenant within thirty (30) days after the date of the occurrence of such damage of LessorLandlord's intention to cancel and terminate this Lease as of the date of the occurrence of such the damage. In the event Lessor Landlord elects to give such notice of Lessor's intention to cancel and terminate this LeaseLease pursuant to this Section 13B, Lessee Tenant shall have the right within ten (10) days after the receipt of such the required notice to give written notice to Lessor notify Landlord in writing of LesseeTenant's intention to repair such damage at LesseeTenant's expense, without reimbursement from LessorLandlord, in which event this Lease shall continue in full force and effect, and Lessee Tenant shall proceed to make such repairs as soon as reasonably possible. If Lessee Tenant does not give such notice within such the ten (10-) day period period, this Lease shall be canceled and terminated as of the date of the occurrence of such damage, and neither party shall have further right or obligations hereunder.
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