Rent Abatement. If the Premises and/or the Building shall be damaged or destroyed by fire or other casualty so as to render the Premises completely or partially untenantable, then the Rent shall be abated in the proportion that the untenantable area of the Premises bears to the total area of the Premises for the period from the date of the damage or destruction to the date that the repair or restoration shall be substantially completed; provided, however, that (i) if in Landlord's reasonable judgment the repair or restoration would have been substantially completed at an earlier date but for Tenant's having failed to reasonably cooperate with Landlord in effecting the same, then the repair or restoration shall be deemed to have been substantially completed on such earlier date and, accordingly, any abatement shall cease, and (ii) if Tenant or any of its subtenants shall reoccupy a portion of the Premises prior to the substantial completion of the repair or restoration, then the Rent allocable to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant from the date of such occupancy. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. For purposes herein, the term "substantially completed," or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereof.
Appears in 1 contract
Samples: Lease (Sedona Corp)
Rent Abatement. If the Building or the Sublease Premises and/or the Building shall be damaged or partially destroyed by fire or other casualty so as to render cause, the Premises completely or partially untenantable, then the Rent Rents payable hereunder shall be abated in the proportion that the untenantable area number of square feet of Rentable Area of the Sublease Premises that has been rendered untenantable (which, for purposes of this Article 11, “untenantable” shall mean either (i) that the Sublease Premises, or a substantial portion thereof, is damaged by such fire or other casualty such that Subtenant cannot conduct its business in the Sublease Premises for Subtenant’s Permitted Use as a result thereof or (ii) such fire or other casualty is not in the Sublease Premises or does not affect the Sublease Premises but Subtenant’s access to the Sublease Premises is cutoff as a result of such fire or other casualty) bears to the total area Rentable Area of the Premises Sublease Premises, for the period from the date of the such damage or destruction to the date that the repair or restoration damage shall be repaired or restored. If the Sublease Premises shall be totally untenantable on account of fire or other cause, the Rent shall xxxxx as of the date of the damage or destruction and until Sublandlord shall repair, restore and rebuild the Building and/or the Sublease Premises and tender possession of the Sublease Premises with all of same (excluding any Subtenant work which had been performed by Subtenant as part of its initial occupancy or as to any subsequent Alterations) substantially completed; completed allowing for the occupancy by Subtenant for Subtenant’s Permitted Use, provided, however, that (i) if in Landlord's reasonable judgment the repair should Subtenant occupy or restoration would have been substantially completed at an earlier date but for Tenant's having failed to reasonably cooperate with Landlord in effecting the same, then the repair or restoration shall be deemed to have been substantially completed on such earlier date and, accordingly, any abatement shall cease, and (ii) if Tenant or any of its subtenants shall reoccupy a portion of the Sublease Premises prior to for the substantial completion ordinary conduct of Subtenant’s business during the repair or restorationperiod the Sublease Premises are made completely untenantable, then the Rent rents allocable to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant Subtenant from the date of such occupancy. In no case Notwithstanding any of the foregoing provisions of this Article 11, if Sublandlord or Landlord or the holder of any Superior Mortgage (as defined in the Lease) shall Tenant be entitled unable to collect all of the insurance proceeds (including rent insurance proceeds) applicable to damage or destruction of the Sublease Premises or the Building by fire or other cause by reason of some negligent or willful action or inaction on the part of Subtenant or any of its employees, agents or contractors, then, without prejudice to any compensation or damages for loss in other remedies which may be available against Subtenant, there shall be no abatement of Subtenant’s rent until the use in total amount of such rent not abated which would otherwise have been abated equals the whole or any part amount of the Premises and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. For purposes herein, the term "substantially completed," or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereofuncollected insurance proceeds.
Appears in 1 contract
Rent Abatement. If either Landlord or Tenant terminates this Lease pursuant to the provisions of this Section 22, then the termination shall be effective thirty (30) days after deliver of the notice of such election. Tenant shall pay Rent, properly apportioned, up to the date of the Casualty. After the effective date of the termination, Landlord and Tenant shall be discharged from all future obligations under this Lease, except those provisions that, by their express terms, survive the expiration or earlier termination of this Lease. If neither Landlord nor Tenant terminates this Lease pursuant to the provisions of this Section 22 and any portion of the Premises and/or is rendered unusable as the Building shall be damaged or destroyed by fire or other casualty so as to render the Premises completely or partially untenantableresult of a Casualty, then the Rent shall be abated in proportion to the proportion that the untenantable area rentable square footage of the Premises bears rendered unusable until Landlord completes the Restoration Work. Subject to Section 22(c), the Rent abatement provided in this Section 22(d) shall be Tenant’s sole remedy due to the total area occurrence of the Premises for the period from the date Casualty. Except as otherwise expressly provided in this Section 22(d), Rent shall not be reduced or abated by reason of any damage to or destruction of the damage or destruction to the date that the repair or restoration shall be substantially completed; provided, however, that (i) if in Landlord's reasonable judgment the repair or restoration would have been substantially completed at an earlier date but for Tenant's having failed to reasonably cooperate with Landlord in effecting the same, then the repair or restoration shall be deemed to have been substantially completed on such earlier date and, accordingly, any abatement shall ceasePremises, and (ii) if Tenant or any of its subtenants Landlord shall reoccupy a portion of the Premises prior to the substantial completion of the repair or restoration, then the Rent allocable to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant from the date of such occupancy. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part all proceeds of the Premises and/or insurance maintained by it. Landlord shall not be liable for any inconvenience or annoyance occasioned by such damageto Tenant or its visitors, repairor injury to Tenant’s business (including, reconstruction without limitation, loss of business, profits or restorationgoodwill), resulting in any way from any damage or the repair thereof. For purposes hereinIn no event shall Landlord have any liability for, nor shall it be required to repair or restore, any injury or damage to any of Tenant’s Work, any Alterations or Tenant’s personal property or to any other personal property of others in or upon the term "substantially completed," Premises or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereofProject.
Appears in 1 contract
Samples: Lease Agreement (Synopsys Inc)
Rent Abatement. If all of the Premises and/or the Building shall be damaged or destroyed or rendered untenantable by any fire or other casualty so as to render the Premises completely or partially untenantablecasualty, then the Rent shall be abated in the proportion that the untenantable area xxxxx, and if only a portion of the Premises shall have been damaged or destroyed or rendered untenantable, the Rent shall be reduced by an amount which bears the same ratio to the total amount of Rent otherwise payable under this Lease as the portion of the Premises which shall have been damaged or rendered untenantable bears to the total area of the Premises entire Premises, in either case for the period from beginning on the date of such damage and ending on (x) the damage date on which Landlord shall have substantially completed Landlord's Restoration Work in accordance with Section 13.2 or destruction (y) if Landlord shall have elected to repair and restore any leasehold improvements and Alterations in the Premises pursuant to the provisions of Section 13.2, the date that the repair or restoration on which Landlord shall be have substantially completedcompleted both of Landlord's Restoration Work and such leasehold improvements and Alterations; provided, however, that if Landlord shall not have elected to repair and restore the damage, if any, caused to the leasehold improvements or Alterations required to be insured by Tenant according to Section 12.2(b), then such abatement shall end on the earlier of the date on which (i) if in Landlord's reasonable judgment Tenant shall have substantially completed the repair and restoration of such leasehold improvements and Alterations as .nearly as practicable to the condition existing immediately prior to such fire or restoration would have been substantially completed at an earlier date but for Tenant's having failed to reasonably cooperate with Landlord in effecting the sameother casualty, then the repair or restoration shall be deemed to have been substantially completed on such earlier date and, accordingly, any abatement shall cease, and (ii) if the ninetieth (90) day after the date on which Landlord shall have substantially completed Landlord's Restoration Work. In no event will Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from damage caused by fire or other casualty or the repair of its subtenants shall reoccupy such damage, provided however that, to the extent Tenant remains in possession of a portion of the Premises prior Premises, Landlord will take all reasonable steps to minimize the substantial completion of the repair or restoration, then the Rent allocable disruption to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant from the date Tenant's business and use of such occupancy. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part portion of the Premises and/or any inconvenience during the period of repair (other than using labor at overtime or annoyance occasioned by such damage, repair, reconstruction or restoration. For purposes herein, the term "substantially completed," or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereofpremium pay rates).
Appears in 1 contract
Rent Abatement. If all of the Premises and/or the Building shall be damaged or destroyed or rendered untenantable by any fire or other casualty so as to render the Premises completely or partially untenantable, then the Rent shall be abated in the proportion that the untenantable area xxxxx, and if only a portion of the Premises shall have been damaged or destroyed or rendered untenantable, the Rent shall be reduced by an amount which bears the same ratio to the total amount of Rent otherwise payable under this Lease as the portion of the Premises which shall have been damaged or rendered untenantable bears to the total area of the Premises entire Premises, in either case for the period from beginning on the date of such damage and ending on (x) the damage date on which Landlord shall have substantially completed Landlord’s Restoration Work in accordance with Section 13.2 or destruction (y) if Landlord shall have elected to repair and restore any leasehold improvements and Alterations in the Premises pursuant to the provisions of Section 13.2, the date that the repair or restoration on which Landlord shall be have substantially completedcompleted both of Landlord’s Restoration Work and such leasehold improvements and Alterations; provided, however, that if Landlord shall not have elected to repair and restore the damage, if any, caused to the leasehold improvements or Alterations required to be insured by Tenant according to Section 12.1(b), then such abatement shall end on the earlier of the date on which (i) if in Landlord's reasonable judgment Tenant shall have substantially completed the repair and restoration of such leasehold improvements and Alterations as nearly as practicable to the condition existing immediately prior to such fire or restoration would have been substantially completed at an earlier date but for Tenant's having failed to reasonably cooperate with Landlord in effecting the sameother casualty, then the repair or restoration shall be deemed to have been substantially completed on such earlier date and, accordingly, any abatement shall cease, and (ii) if the ninetieth (90) day after the date on which Landlord shall have substantially completed Landlord’s Restoration Work. In no event shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from damage caused by fire or other casualty or the repair of its subtenants shall reoccupy such damage, provided however that, to the extent Tenant remains in possession of a portion of the Premises prior Premises, Landlord shall take all reasonable steps to minimize the substantial completion of the repair or restoration, then the Rent allocable disruption to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant from the date Tenant’s business and use of such occupancy. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part portion of the Premises and/or any inconvenience during the period of repair (other than using labor at overtime or annoyance occasioned by such damage, repair, reconstruction or restoration. For purposes herein, the term "substantially completed," or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereofpremium pay rates).
Appears in 1 contract
Rent Abatement. If the Premises and/or the Building shall be damaged or destroyed by fire or other casualty so as to render damages or destroys -------------- or renders the Premises completely or partially untenantable, then or deprives Tenant of reasonable access to the Premises, the Base Rent shall be abated or reduced in the proportion that the Rentable Area of the untenantable area portion of the Premises bears to the total area Rentable Area of the Premises Premises, for the period from the date of the damage or destruction to the date that any damage to the repair or restoration Premises has been substantially repaired except for Punch-List Items and Tenant has reasonable access to the Premises and Tenant's Share of Taxes and Building Operating Expenses shall be substantially completedadjusted to the percentage that the Rentable Area of the portion of the Premises that has not been rendered untenantable bears to the then Rentable Area of the Building after the casualty; provided, however, that (i) if in Landlord's reasonable judgment the repair or restoration would have been substantially completed at an earlier date but for Tenant's having failed to reasonably cooperate with Landlord in effecting the same, then the repair or restoration shall be deemed to have been substantially completed on such earlier date and, accordingly, any abatement shall cease, and (ii) if -------- ------- should Tenant or any of its subtenants shall reoccupy a portion of the Premises for the conduct of Tenant's Business during the period the repair work is taking place and prior to the substantial completion of date that the repair or restorationPremises are substantially repaired, then the Base Rent and Additional Rent allocable to such reoccupied portion, based upon the proportion which the Rentable Area of the reoccupied portion (on a pro-rata rentable square foot basis)of the Premises bears to the total Rentable Area of the Premises, shall be payable by Tenant Tenant, and Tenant's Share of Taxes and Building Operating Expenses shall be adjusted based upon the proportion which the Rentable Area of the reoccupied portion of the Premises bears to the then total Rentable Area of the Building, from the date of such occupancy. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. For purposes herein, the term "substantially completed," or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereof.
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Rent Abatement. If after the Commencement Date the Premises and/or the Building shall be totally or partially damaged or destroyed or rendered completely or partially untenantable by fire or other casualty, or if after the Commencement Date damage to the Building by fire or casualty so as deprives Tenant of reasonable access to render the Premises completely or partially untenantablefor more than one day, then the Rent Rents shall be abated or reduced, as the case may be, in the proportion that the Rentable Area of the untenantable area portion of the Premises bears to the total area Rentable Area of the Premises Premises, for the period from the date of the damage or destruction to the earlier of (i) the date that any damage to the repair Premises (exclusive of Tenant's Property) has been repaired and restored, except for reasonable punch list items, including minor incorrect or restoration shall be substantially completedincomplete details of construction, mechanical adjustment or decoration which do not materially interfere with Tenant's use of the Premises for the purpose of doing business in all respects as contemplated by this Lease and Tenant has reasonable access to the Premises and (ii) the date upon which this Lease is terminated as provided in SECTION 13.3; provided, however, that (i) if in Landlord's reasonable judgment the repair or restoration such repairs would have been substantially completed at an earlier date but for Tenant's Tenant having failed to cooperate reasonably cooperate with Landlord in effecting such repair, or if Tenant reoccupies all or part of the sameuntenantable portion of the Premises for the conduct of its business prior to the date that repairs are completed, then the repair or restoration Premises shall be deemed to have been substantially completed repaired on such earlier date and, accordingly, and any reduction or abatement of Rents shall cease, and (ii) if Tenant or any cease as of its subtenants shall reoccupy a such earlier date for such portion of the Premises Premises. Notwithstanding anything else contained herein, Tenant shall not be entitled to xxxxx or reduce the Rents if the damage or destruction by fire or casualty referenced in the first sentence of this SECTION 13.2 occurs prior to the substantial completion of the repair or restoration, then the Rent allocable to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant from the date of such occupancy. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. For purposes herein, the term "substantially completed," or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereofCommencement Date.
Appears in 1 contract
Rent Abatement. If all of the Premises and/or the Building shall be damaged or destroyed or rendered inaccessible or untenantable by any fire or other casualty, then the Rent shall xxxxx, and if only a portion of the Premises shall have been damaged or destroyed or rendered inaccessible or untenantable, the Rent shall be reduced by an amount which bears the same ratio to the total amount of Rent otherwise payable under this Lease as the portion of the Premises which shall have been damaged or rendered inaccessible or untenantable bears to the entire Premises, in either case for the period beginning on the date of such damage and ending on (x) if Landlord shall have elected to repair and restore any leasehold improvements and Alterations in the Premises pursuant to the provisions of Section 13.2, fifteen (15) days after the date on which Landlord shall have substantially completed both of Landlord’s Restoration Work and such leasehold improvements and Alterations or (y) if Landlord shall not have elected to repair and restore the damage, if any, caused to the leasehold improvements or Alterations required to be insured by Tenant according to Section 12.1(b), the earlier of the date on which (i) Tenant shall have substantially completed the repair and restoration of such leasehold improvements and Alterations as nearly as practicable to the condition existing immediately prior to such fire or other casualty, or (ii) the thirtieth (30th) day after Landlord shall have substantially completed Landlord’s Restoration Work. In no event shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from damage caused by fire or other casualty so as to render or the Premises completely or partially untenantablerepair of such damage, then the Rent shall be abated in the proportion that the untenantable area of the Premises bears provided however that, to the total area extent Tenant remains in possession of the Premises for the period from the date of the damage or destruction to the date that the repair or restoration shall be substantially completed; provided, however, that (i) if in Landlord's reasonable judgment the repair or restoration would have been substantially completed at an earlier date but for Tenant's having failed to reasonably cooperate with Landlord in effecting the same, then the repair or restoration shall be deemed to have been substantially completed on such earlier date and, accordingly, any abatement shall cease, and (ii) if Tenant or any of its subtenants shall reoccupy a portion of the Premises prior Premises, Landlord shall take all reasonable steps to minimize the substantial completion of the repair or restoration, then the Rent allocable disruption to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant from the date Tenant’s business and use of such occupancy. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part portion of the Premises and/or any inconvenience during the period of repair (other than using labor at overtime or annoyance occasioned by such damage, repair, reconstruction or restoration. For purposes herein, the term "substantially completed," or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereofpremium pay rates).
Appears in 1 contract
Samples: Office Lease (GrubHub Inc.)
Rent Abatement. If the Leased Premises and/or the Building shall be damaged or destroyed by fire or other casualty so as to render casualty, the Premises completely rent and the charges payable by Tenant-Turbo hereunder shall abate or partially untenantable, then the Rent shall be abated in the proportion that the untenantable area of the Premises bears to the total area of the Premises reduced proportionately for the period from beginning with the date datx xx such damage in which, by reason of the damage or destruction to the date that the repair or restoration shall be substantially completed; provided, however, that (i) if in Landlord's reasonable judgment the repair or restoration would have been substantially completed at an earlier date but for Tenant's having failed to reasonably cooperate with Landlord in effecting the same, then the repair or restoration shall be deemed to have been substantially completed on such earlier date and, accordingly, any abatement shall cease, and (ii) if Tenant or any of its subtenants shall reoccupy a portion of the Premises prior to the substantial completion of the repair or restoration, then the Rent allocable to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant from the date of such occupancy. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by such damage, repairthere is substantial interference with the operation of Tenant-Turbo's use of the Leased Premises, reconstruction having regard to the extent to which Tenant-Turbo be required to discontinue Tenant-Turbo's use of the Leased Premises, but such abatement or restorationreduction shall end when Landlord-TDYT shall have restored the Leased Premises (exclusive of any of Tenant-Turbo's fixtures, furnishings, equipment and the like) to substantially the condition in which the Leased Premises were in prior to such damage. For purposes hereinIf the damage to the Leased Premises is not restored within 120 days of such damage, the term "substantially completed," or any variation thereof, then Tenant-Turbo shall have the same meaning as set forth option to terminate the Lease. Notwithstanding the above, if the Leased Premises are deemed by the Tenant-Turbo to be damaged in Section 3.02 hereofexcess of twenty-five (25%) of the value of the Leased Premises, then, by written notice to the Landlord-TDYT, the Tenant-Turbo shall have the right to terminate this Lease without prejudice, provided Tenant-Turbo is current on all Rent, Additional Rent, or other costs or charges due under this Lease.
Appears in 1 contract
Rent Abatement. If Subject to Section 13.3, if the Premises and/or the Building shall be damaged or destroyed or rendered completely or partially untenantable by fire or other casualty, or if damage to the Building by fire or casualty so as deprives Subtenant of reasonable access to render or use of the Premises completely or partially untenantablefor two (2) consecutive business days, then the Basic Rent shall be abated or reduced, as the case may be, in the proportion that the Rentable Area of the untenantable area portion for conducting of Subtenant's business operations of the Premises bears to the total area Rentable Area of the Premises Premises, for the period from the date of the damage or destruction to the date that any damage to the repair Premises (exclusive of Subtenant's Property) has been substantially repaired except for minor incorrect or restoration shall be substantially completedincomplete details of construction, mechanical adjustment or decoration which do not materially interfere with Subtenant's use of the Premises and Subtenant has reasonable access to the Premises; provided, however, that (i) if in LandlordSublandlord's reasonable judgment the repair or restoration such repairs would have been substantially completed at an earlier date but for Tenant's Subtenant having failed to cooperate reasonably cooperate with Landlord Sublandlord in effecting such repair, or if Subtenant reoccupies all or part of the sameuntenantable portion of the Premises for the conduct of its business prior to the date that repairs are substantially completed, then the repair or restoration Premises shall be deemed to have been substantially completed repaired on such earlier date and, accordingly, and any reduction or abatement of Basic Rent shall cease, and (ii) if Tenant or any of its subtenants shall reoccupy a portion of the Premises prior to the substantial completion of the repair or restoration, then the Rent allocable to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant from the date cease as of such occupancy. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. For purposes herein, the term "substantially completed," or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereofearlier date.
Appears in 1 contract
Rent Abatement. If the Premises and/or the Building shall be damaged or destroyed by fire or other casualty so as to render the Premises completely or partially untenantable, then the Rent due and payable hereunder shall be abated proportionately during any period in which, by reason of any damage or destruction, there is substantial interference with the operation of Tenant's business in the proportion that the untenantable area of the Premises bears Premises, as reasonably determined by Landlord having regard to the total area of extent to which Tenant may be required to curtail and/or cease operating its business in the Premises Premises. Such abatement shall continue for the period from the date of the commencing with such damage or destruction and ending with a substantial completion by Landlord of the work of repair or reconstruction which Landlord is obligated or undertakes to perform. If Landlord determines that continuation of Tenant's business is not practical pending reconstruction, and if Landlord does not elect to or is unable to provide alternative temporary space for continuation of such business, then Rent due and payable hereunder shall xxxxx until reconstruction is substantially completed or until business is totally or partially resumed, whichever is the earlier. Notwithstanding anything to the date that the repair or restoration shall be substantially completed; providedcontrary contained in this Section 12.02, however, that (i) if in Landlord's reasonable judgment there shall be no abatement of Rent to the repair extent any of such damage is a result of the negligence or restoration would have been substantially completed at an earlier date but for intentional wrongdoing of Tenant or Tenant's having failed to reasonably cooperate with Landlord in effecting the same, then the repair or restoration shall be deemed to have been substantially completed on such earlier date and, accordingly, any abatement shall cease, and (ii) if Tenant or any of its subtenants shall reoccupy a portion of the Premises prior to the substantial completion of the repair or restoration, then the Rent allocable to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant from the date of such occupancyAgents. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. For purposes herein, the term "substantially completed," or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereof.
Appears in 1 contract
Samples: Lease Agreement (Bionx Implants Inc)
Rent Abatement. If any fire or casualty damage renders the Premises and/or Untenantable and if this Lease is not terminated according to Section 12.1, then Rent will abatx xxxinning on the Building shall be damaged or destroyed by fire or other casualty so as date of such damage. Subject to render the last sentence of Section 12.2, such abatement will end on the date Landlord has substantially completed the repairs and restoration Landlord is required to perform according to Section 12.2 and a certificate of occupancy has been issued for the Premises completely or partially untenantable, then as fully restored. Such abatement will be in an amount bearing the same ratio to the total amount of Rent shall be abated in for such period as the proportion that the untenantable area Untenantable portion of the Premises bears to the total area entire Premises. Any portion of the Premises not damaged but unusable by Tenant for the period from the date its business operations, provided it would be unreasonable to expect Tenant to perform its business operations in that portion of the damage or destruction to the date that the repair or restoration shall be substantially completed; providedundamaged Premises as a result of such damage, however, that (i) if in Landlord's reasonable judgment the repair or restoration would have been substantially completed at an earlier date but for Tenant's having failed to reasonably cooperate with Landlord in effecting the same, then the repair or restoration shall be deemed Untenantable. In no event other than Landlord's gross negligence or willful misconduct will Landlord be liable for any inconvenience or annoyance to have been substantially completed on such earlier date and, accordingly, any abatement shall cease, and (ii) if Tenant or injury to the business of Tenant resulting in any way from damage caused by fire or other casualty or the repair of its subtenants shall reoccupy such damage, provided however that, to the extent Tenant remains in possession of a portion of the Premises prior Premises, Landlord will take all reasonable steps to minimize the substantial completion of the repair or restoration, then the Rent allocable disruption to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant from the date Tenant's business and use of such occupancy. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part portion of the Premises and/or any inconvenience or annoyance occasioned by such damage, during the period of repair, reconstruction or restoration. For purposes herein, the term "substantially completed," or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereof.
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