Common use of Partial Destruction of Premises Clause in Contracts

Partial Destruction of Premises. If, during the Term of this Lease, a substantial portion of the Leased Premises is so impaired by fire or other casualty not occurring through the negligence of the Lessee or those claiming under Lessee or their employees respectively, and the said Leased Premises cannot be repaired within one-hundred twenty (120) days from the happening of such injury, then this Lease shall cease and terminate from the date of such injury. Lessee in such cases shall not pay the Annual Minimum Rent for the period of time after the injury and shall immediately surrender the Leased Premises to Lessor, which may enter upon and repossess the same. If such injury can be repaired within one-hundred twenty (120) days thereafter, Lessor may enter and repair, even though the effect of such entry is to render the Leased Premises or a portion thereof untenable, and this Lease shall not be affected, except that the Annual Minimum Rent shall be apportioned or suspended while such repairs are being made. If the Leased Premises shall be so slightly injured by fire or other casualty as not to render the Leased Premises unfit for Lessee’s use and occupancy, and such injury renders damaged areas unusable for a period of more than seven (7) business days, Annual Minimum Rent due from the date of injury to the date of completion of repairs or resumption of use, whichever comes first, shall be apportioned to the ratio that the number of square feet of the usable portion bears to the total number of square feet of the Leased Premises. If a dispute arises as to the amount of adjusted Annual Minimum Rent due under this clause, Xxxxxx agrees to pay the full amount claimed by Xxxxxx. Lessee shall, however, have the right to proceed by law to recover the excess payment, if any. In the event of such partial or total damage or destruction to the Leased Premises, the Lessor shall notify the Lessee with in sixty (60) days from the date of said occurrence of Lessor’s intent to repair and/or restore the Leased Premises or to terminate the Lease.

Partial Destruction of Premises. If, Landlord and Tenant agree that if during the Term term of this Lease, a substantial portion of lease the Leased leased Premises is so impaired or the improvements thereon shall be injured or destroyed by fire or the elements, or through any other casualty not occurring through cause, so as to render the negligence leased Premises unfit for occupancy, or to make it impossible to conduct the business of the Lessee Tenant thereon, or those claiming under Lessee or their employees respectively, and to such an extent that the said Leased Premises cannot be repaired with reasonable diligence within one-hundred twenty thirty (12030) days from the happening of such injury, then the Landlord may terminate this Lease leas as of the date of such damage or destruction. The Tenant shall cease then immediately surrender the leased Premises and all interest therein to the Landlord. The Tenant shall pay rent only to the time of surrender. In case of any such destruction or injury the Landlord may re-enter and repossess the leased Premises described in this lease, and may dispossess all parties then in possession thereof. But if the leased Premises can be restored within sixty (60) days from happening of the injury thereto, and the Landlord within fifteen (15) days from the occurrence of such injury elects in writing to so repair or restore said Premises within sixty (60) days from the happening of the injury thereto, then this lease shall not end or terminate on account of such injury by fire or otherwise. In such event the rent shall not run or accrue from the date of such injury. Lessee in such cases shall not pay injury through the Annual Minimum Rent for the period date of time after the injury and shall immediately surrender the Leased Premises to Lessor, which may enter upon and repossess the same. If such injury can be repaired within one-hundred twenty (120) days thereafter, Lessor may enter and repair, even though the effect completion of such entry is to render the Leased Premises or a portion thereof untenable, and this Lease shall not be affectedrepairs, except that the Annual Minimum Rent Tenant shall during such time pay a pro rata portion of such rent apportioned to the portion of the leased Premises which are in condition for occupancy or which may be apportioned or suspended while actually occupied during such repairs are being maderepairing period. If If, however, the Leased leased Premises shall be so slightly injured by fire or other casualty any cause aforesaid, as not to render the Leased Premises be rendered unfit for Lessee’s use and occupancy, then the Landlord shall repair the same with reasonable promptness, and in that case the rent shall not cease or be abated during such injury renders damaged areas unusable for a period repairing period. All improvements or betterments placed by the Tenant on the leased Premises shall, in any event, be repaired and replaced by the Tenant at its own expense and not at the expense of more than seven (7) business days, Annual Minimum Rent due from the date of injury Landlord except to the date extent that insurance proceeds attributable to damage to Xxxxxx’s improvements are available for repair of completion of repairs or resumption of use, whichever comes first, shall be apportioned to the ratio that the number of square feet of the usable portion bears to the total number of square feet of the Leased Premises. If a dispute arises as to the amount of adjusted Annual Minimum Rent due under this clause, Xxxxxx agrees to pay the full amount claimed by Xxxxxx. Lessee shall, however, have the right to proceed by law to recover the excess payment, if anysaid damage. In the event that the Landlord shall fail to make the required repairs or to give the required notices as specified in this provision, the Tenant may, at its option, terminate this lease as of the date of such partial or total damage or destruction injury upon furnishing written notice to the Leased Premises, Landlord of same. Such right to terminate by the Lessor Tenant shall notify the Lessee with in sixty exist from and after thirty (6030) days from the date of said occurrence of Lessor’s intent to repair and/or restore injury should notice have been received; in either event, the Leased Premises or to terminate the Leaserepairs must not have been substantially completed.

Partial Destruction of Premises. IfIf the Project is damaged by any casualty then, during within thirty (30) days following the Term of this Lease, a substantial portion earlier of the Leased Premises is so impaired by fire date Landlord first becomes aware of such damage or other casualty not occurring through destruction or the negligence date Landlord receives notice from Tenant of such damage or destruction, Landlord shall provide Tenant with written notice (a “Restoration Notice”) specifying Landlord’s reasonable opinion of the Lessee or those claiming under Lessee or their employees respectivelytime it will take to restore the Project (exclusive of any Alterations made to the Premises by Tenant). If in Landlord’s opinion, and the said Leased Premises cannot Project can be repaired restored to its pre-existing condition within one-two hundred twenty seventy (120270) days from after the happening date of the damage or destruction and Landlord’s lender agrees to make available insurance proceeds for restoration, Landlord shall, except as provided in Section 11.03, promptly and with due diligence repair any damage to the Project (inclusive of Base Building Improvements but exclusive of the Tenant Improvement Work or any other Alterations to the Premises made by Tenant, which shall be promptly repaired by Tenant at its sole expense) and, until such injuryrepairs are completed, then this Lease the Base Rent shall cease and terminate be abated from the date of damage or destruction in the same proportion that the rentable area of the portion of the Premises which is unusable by Tenant in the conduct of its business bears to the total rentable area of the Premises. If such injuryrepairs cannot, in Landlord’s opinion, be made within said two hundred seventy (270) day period or Landlord’s lender does not elect to make available insurance proceeds, then either Landlord or Tenant may, at its option, exercisable by written notice given to the other within fifteen (15) days after the date of Landlord’s Restoration Notice, elect to terminate this Lease. Lessee in such cases If this Lease is not terminated by Landlord or Tenant, Landlord shall not pay proceed to restore the Annual Minimum Rent for Project (inclusive of Base Building Improvements but exclusive of the period of Tenant Improvement Work or any other Alterations made by Tenant) within a reasonable time after the injury damage or destruction, in which event this Lease shall remain in full force and effect but the Base Rent shall immediately surrender be abated as provided in the Leased preceding sentence. If Landlord fails to restore the Premises within thirty (30) days following the date specified in Landlord’s Restoration Notice (as such date is extended by events beyond Landlord’s reasonable control), Tenant shall have the right to terminate this Lease by providing Landlord with written notice of termination provided that if Landlord substantially completes such restoration (as evidenced by a certification from the architect of record and Tenant’s right to lawfully enter onto the Premises to Lessor, which may enter upon and repossess reconstruct the same. If such injury can be repaired Tenant Improvement Work) within one-hundred twenty thirty (12030) days thereafterfollowing Tenant’s notice of termination, Lessor may enter Tenant’s termination notice shall be null and repair, even though the effect of such entry is to render the Leased Premises or a portion thereof untenable, void and this Lease shall not be affected, except that the Annual Minimum Rent shall be apportioned or suspended while such repairs are being made. If the Leased Premises shall be so slightly injured by fire or other casualty as not to render the Leased Premises unfit for Lessee’s use continue in full force and occupancy, and such injury renders damaged areas unusable for a period of more than seven (7) business days, Annual Minimum Rent due from the date of injury to the date of completion of repairs or resumption of use, whichever comes first, shall be apportioned to the ratio that the number of square feet of the usable portion bears to the total number of square feet of the Leased Premises. If a dispute arises as to the amount of adjusted Annual Minimum Rent due under this clause, Xxxxxx agrees to pay the full amount claimed by Xxxxxx. Lessee shall, however, have the right to proceed by law to recover the excess payment, if any. In the event of such partial or total damage or destruction to the Leased Premises, the Lessor shall notify the Lessee with in sixty (60) days from the date of said occurrence of Lessor’s intent to repair and/or restore the Leased Premises or to terminate the Leaseeffect.

Partial Destruction of Premises. IfIf such damage, during covered by a policy or policies of insurance maintained by Lessor, be only partial and such that the Term Premises can be restored, in Lessor’s opinion, to approximately their former condition within one hundred eighty (180) days from the date of this Lease, a substantial portion Lessor receiving notice from Lessee of the Leased happening of such casualty, Lessor may, at its sole option, restore the same with reasonable promptness, Lessee to pay the amount of any deductible or other restoration cost not covered by the proceeds of insurance, reserving the right to enter upon the Premises HXXXXX MANAGEMENT COMPANY AMERICAN BANK NOTE HOLOGRAPHICS, INC. October 9, 2002/kat for that purpose. Lessee shall pay the amount of any deductible or other restoration costs not covered by the proceeds of insurance. The current deductible on Lessor casualty insurance is so impaired $5,000.00. Lessor shall endeavor to maintain such level of deductible provided that it remains available at comparable prices. Lessor also reserves the right to enter upon the Premises whenever necessary to repair damage caused by fire or other casualty not occurring through to the negligence building of which the Lessee Premises is a part, whether the building is a single tenant or those claiming under Lessee or their employees respectively, and the said Leased Premises cannot be repaired within onea multi-hundred twenty (120) days from the happening of such injury, then this Lease shall cease and terminate from the date of such injury. Lessee in such cases shall not pay the Annual Minimum Rent for the period of time after the injury and shall immediately surrender the Leased Premises to Lessor, which may enter upon and repossess the same. If such injury can be repaired within one-hundred twenty (120) days thereafter, Lessor may enter and repairtenant building, even though the effect of such entry is to render the Leased Premises or a portion part thereof untenableuntenantable. In either event, the Minimum Annual Rent and this Lease shall not be affected, except that the Annual Minimum Additional Rent shall be apportioned or and suspended while such repairs are being made. If during the Leased Premises shall be so slightly injured by fire or other casualty as not to render term Lessor is in possession, taking into account the Leased Premises unfit for Lessee’s use and occupancy, and such injury renders damaged areas unusable for a period of more than seven (7) business days, Annual Minimum Rent due from the date of injury to the date of completion of repairs or resumption of use, whichever comes first, shall be apportioned to the ratio that the number of square feet portion of the usable portion bears Premises rendered untenantable and the duration of said possession. Nothing contained herein shall affect or limit Lessor’s right to collect the total number proceeds of square feet of any rental value insurance on the Leased Premises. If a dispute arises as to the amount of adjusted Annual Minimum Rent rent due under this the clause, Xxxxxx Lessee agrees to pay the full amount claimed by Xxxxxx. Lessor, but Lessee shall, however, shall have the right right, only, to proceed by law to recover the alleged excess payment, if any. In , by final and binding Arbitration in accordance with the event terms of such partial or total damage or destruction to the Leased PremisesParagraph 38(A), the Lessor shall notify the Lessee with in sixty (60) days from the date of said occurrence of Lessor’s intent to repair and/or restore the Leased Premises or to terminate the Leaseinfra.

Partial Destruction of Premises. IfIf the Premises are damaged by any casualty and, during in Landlord’s opinion, the Term Premises (exclusive of this Lease, a substantial portion any Alterations made to the Premises by Tenant) can be restored to its pre-existing condition within two hundred ten (210) days after the date of the Leased Premises is so impaired by fire damage or other casualty not occurring through the negligence of the Lessee or those claiming under Lessee or their employees respectivelydestruction, and the said Leased Premises cannot be repaired within one-hundred twenty (120) days Landlord shall, upon written notice from the happening Tenant to Landlord of such injurydamage, then this Lease except as provided in Section 11.03, promptly and with due diligence repair any damage to the Premises (exclusive of any Alterations to the Premises made by Tenant, which shall cease and terminate be promptly repaired by Tenant at its sole expense) and, until such repairs are completed, the Rent shall be abated from the date of such injury. Lessee damage or destruction in such cases shall not pay the Annual Minimum Rent for the period of time after the injury and shall immediately surrender the Leased Premises to Lessor, which may enter upon and repossess the same. If such injury can be repaired within one-hundred twenty (120) days thereafter, Lessor may enter and repair, even though the effect of such entry is to render the Leased Premises or a portion thereof untenable, and this Lease shall not be affected, except same proportion that the Annual Minimum Rent shall be apportioned or suspended while such repairs are being made. If the Leased Premises shall be so slightly injured by fire or other casualty as not to render the Leased Premises unfit for Lessee’s use and occupancy, and such injury renders damaged areas unusable for a period of more than seven (7) business days, Annual Minimum Rent due from the date of injury to the date of completion of repairs or resumption of use, whichever comes first, shall be apportioned to the ratio that the number of square feet rentable area of the usable portion of the Premises which is unusable by Tenant in the conduct of its business bears to the total number of square feet rentable area of the Leased Premises. Landlord shall provide Tenant with written notice of Landlord’s reasonable estimate of how long the repair or restoration shall take within seventy five (75) days after Tenant’s notice to Landlord of such damage or destruction. If such repairs cannot, in Landlord’s reasonable opinion, be made within said two hundred ten (210) day period, then Landlord may, at its option, exercisable by written notice given to Tenant within thirty (30) days after the date of the damage or destruction, elect to make the repairs within a dispute arises reasonable time after the damage or destruction, in which event this Lease shall remain in full force and effect but the Rent shall be abated as provided in the preceding sentence; if Landlord does not so elect to make the repairs, then either Landlord or Tenant shall have the right, by written notice given to the amount of adjusted Annual Minimum Rent due under this clause, Xxxxxx agrees to pay the full amount claimed by Xxxxxx. Lessee shall, however, have the right to proceed by law to recover the excess payment, if any. In the event of such partial or total damage or destruction to the Leased Premises, the Lessor shall notify the Lessee with in other within sixty (60) days from after the date of said occurrence of Lessor’s intent to repair and/or restore the Leased Premises damage or destruction, to terminate this Lease as of the Leasedate of the damage or destruction. Notwithstanding the foregoing, if such repairs cannot reasonably be made within said two hundred ten (210) day period, or if such repairs are not actually completed within two hundred forty (240) days, or if at the time the damage or destruction occurs, less than one (1) year remains in the Term, then in any such event, Tenant may elect to terminate this Lease by written notice to Landlord effective as of the date of such notice.

Partial Destruction of Premises. IfIf the Premises or access thereto are damaged by any casualty and, during in Landlord’s reasonable opinion (to be delivered by written notice to Tenant within thirty (30) days following the Term casualty, the Premises (exclusive of this Leaseany Alterations made to the Premises) can be restored to its pre-existing condition within one hundred and twenty (120) days after the date of the damage or destruction, a substantial Landlord shall, upon written notice from Tenant to Landlord of such damage, except as provided in Section 11.3, promptly and with due diligence repair any damage to the Premises (exclusive of any Alterations to the Premises made by Tenant, which shall, subject to the receipt its of insurance proceeds be promptly repaired by Tenant at its sole expense) and, until such repairs are completed, the Rent shall be abated from the date of damage or destruction in the same proportion that the rentable area of the portion of the Leased Premises which is so impaired unusable by fire or other casualty not occurring through Tenant in the negligence conduct of its business bears to the total rentable area of the Lessee or those claiming under Lessee or their employees respectivelyPremises. If such repairs cannot, in Landlord’s reasonable opinion, be made within said one hundred twenty (120)) day period, then Landlord shall give Tenant written notice of the estimated length of time to restore the Premises (exclusive of any Alterations made to the Premises), and Tenant shall have the said Leased Premises cannot be repaired within one-time right, by written notice given to Landlord within fifteen (15) days after Landlord’s written notice, to terminate this Lease as of the date of the damage or destruction. If Tenant fails to exercise this one-time right to terminate, Tenant shall be deemed to have elected not to terminate this Lease and Tenant shall have no further right to terminate this Lease as a result of such damage or destruction; provided, however, that if more than one hundred twenty (120) days from the happening of such injury, then this Lease shall cease and terminate from following the date of such injury. Lessee in such cases the casualty Landlord has not completed the repairs required under this Section 11.2, Tenant shall not pay have the Annual Minimum Rent for the period of time right to terminate this Lease by giving written notice to Landlord any anytime after the injury and shall immediately surrender the Leased Premises to Lessor, which may enter upon and repossess the same. If expiration of such injury can be repaired within one-one hundred twenty (120) days thereafter, Lessor may enter period and repair, even though prior to the effect completion of such entry repairs. If Tenant elects or is deemed to render have elected not to terminate this Lease, then Landlord shall make the Leased Premises repairs within a reasonable time after the damage or a portion thereof untenable, destruction and this Lease shall not be affected, except that remain in full force and effect but the Annual Minimum Rent shall be apportioned or suspended while such repairs are being made. If abated as provided in the Leased Premises shall be so slightly injured by fire or other casualty as not to render the Leased Premises unfit for Lessee’s use and occupancy, and such injury renders damaged areas unusable for a period of more than seven (7) business days, Annual Minimum Rent due from the date of injury to the date of completion of repairs or resumption of use, whichever comes first, shall be apportioned to the ratio that the number of square feet of the usable portion bears to the total number of square feet of the Leased Premises. If a dispute arises as to the amount of adjusted Annual Minimum Rent due under this clause, Xxxxxx agrees to pay the full amount claimed by Xxxxxx. Lessee shall, however, have the right to proceed by law to recover the excess payment, if any. In the event of such partial or total damage or destruction to the Leased Premises, the Lessor shall notify the Lessee with in sixty (60) days from the date of said occurrence of Lessor’s intent to repair and/or restore the Leased Premises or to terminate the Leasepreceding sentence.

Partial Destruction of Premises. IfIf the Premises are damaged by any casualty and, during in Landlord’s opinion, the Term Premises (exclusive of any Alterations made to the Premises) can be restored to its pre-existing condition within two hundred seventy (270) days after the date of the damage or destruction, Landlord shall, upon written notice from Tenant to Landlord of such damage (the “Damage Estimate”), except as provided in Section 11.3, promptly and with due diligence repair any damage to the Premises (exclusive of any Alterations to the Premises made by Tenant, which shall be promptly repaired by Tenant at its sole expense) and, until such repairs are completed, the Rent shall be abated from the date of damage or destruction in the same proportion that the rentable area of the portion of the Premises which is unusable by Tenant in the conduct of its business bears to the total rentable area of the Premises. If such repairs cannot, in Landlord’s opinion, be made within said two hundred seventy (270) day period, then Landlord shall give tenant written notice of the estimated length of time to restore the Premises (exclusive of any Alterations made to the Premises), and Tenant shall have the one-time right, by written notice given to Landlord within fifteen (15) days after Landlord’s written notice, to terminate this Lease as of the date of the damage or destruction. Except as provided below, if Tenant fails to exercise this one-time right to terminate, Tenant shall be deemed to have elected not to terminate this Lease and Tenant shall have no further right to terminate this Lease as a result of such damage or destruction. If Tenant elects or is deemed to have elected not to terminate this Lease, a substantial portion of the Leased Premises is so impaired Landlord may, at its option, exercisable by fire or other casualty not occurring through the negligence of the Lessee or those claiming under Lessee or their employees respectively, and the said Leased Premises cannot be repaired written notice given to Tenant within one-hundred twenty thirty (12030) days from after Tenant’s election or deemed election, elect to make the happening of such injuryrepairs within a reasonable time after the damage or destruction, in which event this Lease shall remain in full force and effect but the Rent shall be abated as provided in the preceding sentence; or if Landlord does not so elect to make the repairs, then this Lease shall cease and terminate from as of the date of such injury. Lessee in such cases shall not pay the Annual Minimum Rent for the period of time after the injury and shall immediately surrender the Leased Premises to Lessor, which may enter upon and repossess the same. If such injury can be repaired within one-hundred twenty (120) days thereafter, Lessor may enter and repair, even though the effect of such entry is to render the Leased Premises or a portion thereof untenable, and this Lease shall not be affected, except that the Annual Minimum Rent shall be apportioned or suspended while such repairs are being made. If the Leased Premises shall be so slightly injured by fire or other casualty as not to render the Leased Premises unfit for Lessee’s use and occupancy, and such injury renders damaged areas unusable for a period of more than seven (7) business days, Annual Minimum Rent due from the date of injury to the date of completion of repairs or resumption of use, whichever comes first, shall be apportioned to the ratio that the number of square feet of the usable portion bears to the total number of square feet of the Leased Premises. If a dispute arises as to the amount of adjusted Annual Minimum Rent due under this clause, Xxxxxx agrees to pay the full amount claimed by Xxxxxx. Lessee shall, however, have the right to proceed by law to recover the excess payment, if any. In the event of such partial or total damage or destruction to the Leased Premises, the Lessor shall notify the Lessee with in sixty (60) days from the date of said occurrence of Lessor’s intent to repair and/or restore the Leased Premises or to terminate the Leasedestruction.