Repair of Damage. If the Relevant Space is damaged in part or whole from any cause and the Relevant Space can be substantially repaired and restored within one hundred and fifty (150) days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Space.
Appears in 2 contracts
Samples: Lease Agreement (Bancshares of Florida Inc), Lease (Bancshares of Florida Inc)
Repair of Damage. If the Relevant Space is Premises shall be damaged in part by fire or whole from any cause and the Relevant Space can be substantially repaired and restored within one hundred and fifty (150) days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances other casualty, then Landlord shall proceed to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150subject to receipt of insurance proceeds) days (the “Repair and Restoration Funds”)Premises to its condition preceding the damage, subject to the provisions of this Article 10. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, if Tenant is such repairs and restoration are not in default at the fact completed within Landlord's estimated time the damage occurs or at the time the Repair and Restoration Funds are received by Landlordperiod, so long as Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damagehave proceeded with reasonable due diligence. This repair and restoration The Rent until such repairs shall be made within one hundred and fifty (150) days from shall be reduced in the date proportion which the area of the damage (part of the “Repair and Restoration Period”) unless Premises which is not usable by Tenant bears to the delay is due to causes beyond Landlord’s reasonable controltotal area of the Premises; provided, however, that should Tenant reoccupy a portion of the Repair Premises for the conduct of its business prior to the date such repairs are made, the Rent shall be reinstated with respect to such reoccupied portion of the Premises and Restoration Period may shall be extended payable by Tenant from the date of such occupancy. Within seventy-five (75) days after notice to Landlord of damage to the Premises or any part thereof by fire or other casualty, Landlord shall deliver to Tenant an estimate prepared by a reputable contractor selected by Landlord for an additional ninety (90) days if at setting forth such contractor's estimate as to the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort reasonable time required to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraphsuch damage. If the Relevant Space canestimated time period exceeds twelve (12) months, Tenant may elect to terminate this Lease by notice to Landlord given not later than fifteen (15) days following the delivery of such estimate to Tenant. If Tenant elects to terminate this Lease, the Term of this Lease shall expire upon the thirtieth (30th) day after notice of such election is given by Tenant and Tenant shall vacate the Premises and surrender the same to Landlord and the Rent and additional rent shall be repaired apportioned as of the effective date of such termination. Further, should Landlord, at its sole option, make available to Tenant, during the period of such repair, other space in the Building which is reasonably suitable for the temporary carrying on of Tenant's business, the Rent shall be reinstated with respect to such temporarily occupied space and restored shall be payable by Tenant from the date such space is occupied by Tenant; it being agreed that the Rent payable with respect to such space shall not exceed on a per square foot basis the then current Rent for the Premises and shall not exceed the Rent payable by Tenant hereunder immediately prior to such fire or other casualty. Whenever in this Article 10 reference is made to restoration of the Premises, (i) Tenant's obligation shall be as to all property within the one hundred Premises including Tenant's furniture, fixtures, equipment and fifty other personal property, any and all Alterations, construction or other improvements made to the Premises by or on behalf of Tenant and any other leasehold improvements existing in the Premises on the date hereof, all of which shall be restored and replaced at Tenant's sole cost and expense and (150ii) day period or Landlord's obligation, if Landlord’s mortgagee does not provide adequate assurances to Landlord any, shall be as to the availability shell, which constitutes the structure of Repair the Building and Restoration Funds the mechanical, electrical, plumbing, air-conditioning and other building systems up to the point of connection into the Premises. Landlord's obligation to repair or rebuild, and Tenant's right to rent abatement, as aforesaid (described in this Article 10, are only effective provided the “Adequate Assurances”)damage or destruction is not due to the intentional or negligent acts or omissions of Tenant, then either party mayits agents, within ten (10) days after determining that the repairs employees, licensees or invitees. During any period of Tenant's repair and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to following substantial completion of Landlord's repair and restore the Relevant Space even though Landlord has restoration work, Rent and additional rent shall be payable as if said fire or other casualty had not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceoccurred.
Appears in 1 contract
Samples: Lease Agreement (Thrupoint Inc)
Repair of Damage. In case of damage to Demised Premises by fire or other cause:
(a) If a part only of the Demised Premises shall be damaged but not so as to render the same wholly untenantable or if the damage is not of such nature or extent as would render the Demised Premises unfit for the operation of a branch bank therein, the rent shall not be abated and the Landlord shall commence, within ninety (90) days after the occurrence of the damage, to repair the damage and restore the structure of the Demised Premises to a state in which the floor, ceiling and walls with stubbed off utilities were available ("shell state") to enable Tenant to make its leasehold improvements, which Tenant shall commence making as soon as possible.
(b) If the Relevant Space damage to the Demised Premises shall be so extensive as to render the same wholly untenantable, or is damaged in part of such nature or whole from any cause and extent as renders the Relevant Space can Demised Premises unfit for the operation of a branch bank therein, or if the balance of the Building containing the Demised Premises be substantially repaired and restored within one hundred and fifty (150) days damaged, rent shall be completely abated from the date of the damage using standard working methods and procedures if until the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date structure of the damage (the “Repair and Restoration Period”) unless the delay Demised Premises is due restored to causes beyond Landlord’s reasonable controla shell state; provided, however, that either one of the Repair and Restoration Period parties hereto may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under terminate this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end thirty (30) days of the Repair fire or other damage, and Restoration Period and before on the end of a period terminating date specified in such notice (which date shall in no event shall be less than thirty (30) days after the end date on which such notice is sent), this Lease shall terminate.
(c) Landlord shall be under no obligation to rebuild if its lenders do not authorize the use of insurance proceeds for such purposes. If insurance proceeds are so available, Landlord agrees to rebuild the Repair Demised Premises to a shell state as provided above and Restoration Period. Tenant agrees to rebuild its leasehold improvements as soon as possible.
(d) If Landlord has elected to terminate this Lease because its lenders did not authorize the use of insurance proceeds to rebuild the Demised Premises, then, if Landlord subsequently rebuilds a structure at the site, Tenant shall not be able have a right of first refusal to cancel this Lease if its willful misconduct causes lease first floor retail space in the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spacestructure at market rates.
Appears in 1 contract
Samples: Lease Amendment (Prime Bancorp Inc)
Repair of Damage. If the Relevant Space is Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt notice thereof to Landlord and this Lease shall continue in part full force and effect except as hereinafter set forth. If the Premises shall be damaged by fire or whole from any cause and other casualty, then the Relevant Space can Premises shall be substantially repaired and restored to its condition preceding the damage in accordance with the provisions of this Article 10 as promptly as reasonably practicable. Whenever in this Article 10 reference is made to restoration of the Premises, (i) Tenant's obligation shall be as to all property within one hundred the Premises including Tenant's furniture, fixtures, equipment and fifty other personal property, of which shall be restored and replaced at Tenant's sole cost and expense and (150ii) days from Landlord's obligation, if any, shall be as to the shell, which constitutes the structure of the Building, the mechanical, electrical, plumbing, air-conditioning and other building-wide systems up to the point of connection into the Premises and any other leasehold improvements existing in the Premises on the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the such damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that at Landlord's sole discretion, Landlord may elect to have Tenant restore and any and all Alterations, construction or other improvements made to the Repair and Restoration Period may be extended Premises by or on behalf of Tenant, in which event Landlord shall make all insurance proceeds received by Landlord for an additional ninety the same made available to Tenant in accordance with the provisions of subsection IV of Schedule B hereof, as if such proceeds were Landlord's Contribution (90as defined in Schedule B). Subject to the terms of this Subsection A, Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, if such repairs and restoration are not in fact completed within Landlord's estimated time period, so long as Landlord shall have proceeded with reasonable due diligence. The Rent until such repairs shall be made shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant bears to the total area of the Premises; provided, however, should Tenant reoccupy a portion of the Premises for the conduct of its business prior to the date such repairs are made, the Rent shall be reinstated with respect to such reoccupied portion of the Premises and shall be payable by Tenant from the date of such occupancy. In the event Landlord elects to have Tenant restore the Premises, notwithstanding the foregoing to the contrary, the Rent shall be reduced during Tenant's restoration of the Premises but in no event for more than three (3) months following the date Landlord substantially completes its repair and restoration to the shell and other building-wide systems. Within sixty (60) days if at after notice to Landlord of damage to the end of one hundred and fifty (150) days Premises or any part thereof by fire or other casualty, Landlord is making shall deliver to Tenant an estimate prepared by a prompt and diligent effort reputable contractor selected by Landlord setting forth such contractor's estimate as to the reasonable time required to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraphsuch damage. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day estimated time period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within exceeds ten (10) days after determining that the repairs and restoration canmonths, Tenant may elect to terminate this Lease by notice to Landlord given not be made or the Adequate Assurances cannot be given within one hundred and fifty later than fifteen (15015) days following the delivery of such estimate to Tenant. If Tenant elects to terminate this Lease, the Term of this Lease shall expire upon the thirtieth (as prescribed in paragraph 6.01(c))30th) day after notice of such election is given by Tenant and Tenant shall vacate the Premises and surrender the same to Landlord and the Rent and additional rent shall be terminated from and after the effective date of such termination. If Tenant shall not so elect to terminate this Lease, cancel but Landlord shall thereafter fail to substantially complete the restoration of the Premises on or before the estimated restoration date for any reason whatsoever, other than a force majeure event or any other cause beyond the reasonable control of Landlord, Tenant shall have the right to terminate this Lease by giving notice to Landlord not later than five (5) days following the other party; provided, however, Tenant may not cancel the Lease estimated restoration date and if Landlord agrees shall fail to so complete such restoration within five (5) days following Landlord's receipt of Tenant's termination notice (subject to delays caused by force majeure events or any similar cause beyond the reasonable control of Landlord), this Lease shall be deemed canceled and terminated as of the date of the giving of such termination notice as if such date were the Expiration Date. If Landlord elects to have Tenant restore the Premises in accordance with the provisions of this subsection A, Tenant's right to terminate this Lease pursuant to the immediately preceding sentence shall only be applicable if Landlord fails to timely complete its repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end restoration of the Repair shell and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceother building-wide systems.
Appears in 1 contract
Repair of Damage. If the Relevant Space is Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt notice thereof to Landlord and this Lease shall continue in part full force and effect except as hereinafter set forth. If the Premises shall be damaged by fire or whole from any cause and other casualty, then the Relevant Space can Premises shall be substantially repaired and restored to its condition preceding the damage in accordance with the provisions of this Article 10. Whenever in this Article 10 reference is made to restoration of the Premises, (i) Tenant's obligation shall be as to all property within one hundred the Premises including Tenant's furniture, fixtures, equipment and fifty (150) days from other personal property, any and all Alterations, construction or other improvements made to the Premises by or on behalf of Tenant and any other leasehold improvements existing in the Premises on the date hereof, all of which shall be restored and/or replaced at Tenant's sole cost and expense, except in the event this Lease is terminated in accordance with this Article 10 and (ii) Landlord's obligation, if any, shall be as to the core and shell, which constitutes the structure of the damage using standard working methods Building and procedures the mechanical, electrical, plumbing and other Building systems up to the point of connection into the Premises. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, if the such repairs and restoration are not in fact completed within Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty 's estimated time period for restoration (150) days (the “Repair and Restoration Funds”if any), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, so long as Landlord shall at its expense promptly have proceeded continuously with reasonable due diligence during the course of the restoration. Until the date occurring three (3) months following substantial completion of the repairs that are Landlord's responsibility hereunder, the Rent and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration additional rent shall be made within one hundred and fifty (150) days from reduced in the date proportion which the area of the damage (part of the “Repair and Restoration Period”) unless Premises which is damaged bears to the delay is due to causes beyond Landlord’s reasonable controltotal area of the Premises; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end should Tenant retake possession of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end portion of the Repair Premises for the conduct of business prior to such date, the Rent and Restoration Period and before the end of a period terminating thirty (30) days after the end additional rent shall be reinstated with respect to such reoccupied portion of the Repair Premises and Restoration Period. shall be payable by Tenant shall not be able to cancel this Lease if its willful misconduct causes from the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spacedate of such possession.
Appears in 1 contract
Repair of Damage. Tenant shall promptly notify Landlord of any damage to the Premises resulting from fire or any other casualty to the extent Tenant is actually aware of such damage (“Casualty”). If the Relevant Space is Premises or any Common Areas serving or providing access to the Premises shall be damaged in part or whole from any cause and the Relevant Space can be substantially repaired and restored within one hundred and fifty (150) days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by LandlordCasualty, Landlord shall at its expense promptly and diligently repair diligently, subject to reasonable delays for insurance adjustment or other matters beyond Landlord's reasonable control, and subject to all other terms of this Article 11, restore the Relevant Space Base Building and such Common Areas. Such restoration shall be to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the Base Building and the Common Areas prior to the Casualty, except for modifications required by zoning and building codes and other laws or by the holder of a mortgage on the Building or Project or any other modifications to the Common Areas deemed desirable by Landlord, which are consistent with the character of the Project, provided that access to the Premises shall not be materially impaired. Subject to the terms of Section 11.2, below, Tenant shall, at its sole cost and expense, repair any injury or damage (to the Tenant Improvements and the Original Improvements installed in the Premises and shall return such Tenant Improvements and Original Improvements to their original condition except for modifications required by zoning and building codes and other Applicable Laws. Whether or not Landlord delivers a “Landlord Repair Notice,” as that term is defined in Section 11.2 below, prior to the commencement of construction, Tenant shall submit to Landlord, for Landlord's review and Restoration Period”) unless approval, all plans, specifications and working drawings relating thereto, and Landlord shall select the delay is due contractors to causes beyond perform such improvement work. Tenant shall in addition cooperate with requests for information regarding any repairs from Landlord’s reasonable control; provided, however, that insurer(s) by providing the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, requested information within ten (10) business days after determining that Tenant receives the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if request. Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able liable for any inconvenience or annoyance to cancel Tenant or its visitors, or injury to Tenant's business resulting in any way from such damage or the repair thereof; provided however, that if such Casualty shall have damaged the Premises or Common Areas necessary to Tenant's occupancy, and the Premises are not occupied by Tenant as a result thereof, then during the time and to the extent the Premises are unfit for occupancy, the Rent shall be abated in proportion to the ratio that the amount of rentable square feet of the Premises which is unfit for occupancy for the purposes permitted under this Lease if its willful misconduct causes bears to the damage unless total rentable square feet of the Premises. In the event that Landlord shall not deliver the Landlord Repair Notice, Tenant's right to rent abatement pursuant to the preceding sentence shall terminate as of the date which is reasonably determined by Landlord to be the date Tenant should have completed repairs to the Premises assuming Tenant used reasonable due diligence in connection therewith. Notwithstanding any contrary provision of this Article 11, the parties hereby agree as follows: (i) the closure of the Project, the Building, the Common Areas, or any part thereof to protect public health shall not promptly constitute a Casualty for purposes of this Lease, (ii) Casualty covered by this Article 11 shall require that the physical or structural integrity of the Premises, the Project, the Building, or the Common Areas is degraded as a direct result of such occurrence, and diligently repairing (iii) a Casualty under this Article 11 shall not be deemed to occur merely because Tenant is unable to productively use the Premises in the event that the physical and restoring structural integrity of the Relevant SpacePremises is undamaged.
Appears in 1 contract
Samples: Lease Agreement (Arcturus Therapeutics Holdings Inc.)
Repair of Damage. If In the Relevant Space event that the Premises or the Building is damaged in part by fire or whole from any cause other insured casualty, the damage shall be repaired by and at the Relevant Space expense of Landlord, provided that the Premises can be substantially repaired made fit for occupancy, within 180 days after the occurrence of the damage without the payment of overtime or other premiums. Until the repairs and restored restoration are completed, Rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business as the result of the casualty (but there shall be no abatement of Rent by reason of any portion of the Premises being unusable for a period of five days or less or as set forth below). Landlord agrees to notify ("Landlord's Notice") Tenant within one hundred 60 days after the casualty of the approximate length of time Landlord estimates will be required to complete the repairs and fifty restoration, and if Landlord therein estimates that it will be unable to repair and restore the Premises within 180 days, Landlord, in its Landlord's Notice or Tenant in a notice given to Landlord within 15 days thereafter (150) or within 75 days after the casualty if Landlord fails to provide Landlord's Notice, unless the repairs are in fact complete within said 75-day period), may terminate this Lease effective 30 days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days such notice (the “Repair and Restoration Funds”"Termination Date"), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, howeverHowever, Tenant may not cancel the terminate this Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Neverthelessor receive an abatement of Rent, as above stated, if the Relevant Space damage to the Premises or the Building is not repaired and restored within in whole or in part the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end result of the Repair act, omission, fault or negligence of Tenant, its agents, contractors or employees. In the event this Lease is terminated, Tenant shall pay Rent until the Termination Date and Restoration Period shall forthwith surrender the Premises in accordance with Paragraph 21A. If Tenant fails so to surrender the Premises, Landlord may reenter and before the end of a period terminating thirty (30) days after the end take possession of the Repair Premises and Restoration Periodremove Tenant and the property and Alterations Tenant is required to remove under Paragraph 10, at Tenant's expense. Except as provided in this Paragraph, there shall be no abatement of rent and no liability of Landlord by reason of any damage to or interference with Tenant's business or property arising from the casualty or the making of any such repairs, alterations or improvements in or to the Building Complex or Premises. Tenant understands that Landlord will not carry insurance of any kind on Tenant's Property, or any Alterations installed in the Premises by or on behalf of Tenant, and that Landlord shall not be able obligated to cancel this Lease if its willful misconduct causes the repair any damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceor replace any of Tenant's Property or any such Alterations, which shall be Tenant's responsibility.
Appears in 1 contract
Samples: Office Lease (Convergent Group Corp)
Repair of Damage. If the Relevant Space is damaged in part or whole from any cause and the Relevant Space Landlord reasonably determines that such damage can be substantially repaired and restored within one hundred and fifty twenty (150120) days from the date of the damage casualty using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlordprocedures, Landlord shall shall, at its expense expense, promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the such damage. This repair and restoration Landlord shall be made make such determination within one hundred and fifty ten (15010) days from following the date Landlord receives notice of such casualty damage. If Landlord reasonably determines that the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the said one hundred and fifty twenty (150120) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”)period, then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c))such determination by Landlord, cancel the this Lease by giving notice to the other party; provided, however, provided that Tenant may shall not be permitted to cancel the this Lease if the damage to the Relevant Space is due to the willful misconduct of Tenant, its employees, officers, contractors or agents, unless Landlord agrees elects not to proceeding with repairs and restoration as provided in this Subsection. If this Lease is not canceled by either party within said ten-day period, Landlord shall, at its expense, promptly and diligently repair and restore the Relevant Space even though Landlord has not received to substantially the Adequate Assurancessame condition as existed prior to such casualty damage. Nevertheless, if Abatement. Unless the damage to the Relevant Space is not repaired caused by the willful misconduct of Tenant, its employees, officers, contractors or agents, the Base Rent and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end Additional Rent shall xxxxx in proportion to that part of the Repair Premises that is unfit for use in Tenant's business and Restoration Period is, in fact, not used by Tenant. The abatement shall consider the nature and before extent of interference to Tenant's ability to conduct business in the end of a period terminating thirty Premises and the need for access and essential services. The abatement shall continue from the date the damage occurred until ten (3010) business days after Landlord completes the end of the Repair repairs and Restoration Period. Tenant shall not be able restoration to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant SpaceSpace or the part rendered unusable, or until Tenant again uses the Premises or the part rendered unusable, whichever is first.
Appears in 1 contract
Samples: Office Lease Agreement (E Loan Inc)
Repair of Damage. If the Relevant Space is Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt notice thereof to Owner and this Lease shall continue in part full force and effect except as hereinafter set forth. If the Premises shall be damaged by fire or whole from any cause and other casualty, then the Relevant Space can Premises shall be substantially repaired and restored to its condition preceding the damage in accordance with the provisions of this Article 10. Whenever in this Article 10 reference is made to restoration of the Premises, (i) Tenant's obligation shall be as to all property within one hundred the Premises such as Tenant's furniture, fixtures, equipment and fifty other personal property of Tenant, any and all Alterations, construction or other improvements made to the Premises by or on behalf of Tenant and any other leasehold improvements existing in the Premises on the date hereof, all of which shall be restored and replaced at Tenant's sole cost and expense and (150ii) Landlord's obligation, if any, shall be as to the shell, which constitutes the structure of the Building and the mechanical, electrical, plumbing, air-conditioning and other building-wide systems up to the point of connection into the Premises. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, if such repairs and restoration are not in fact completed within Landlord's estimated time period as given by Notice to Tenant by Landlord within sixty (60) days after such fire or other casualty if such failure by Landlord is a result of “Force Majeure.” The Rent until such repairs shall be made shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant bears to the total area of the Premises provided, however, should Tenant reoccupy a portion of the Premises for the conduct of its business prior to the date such repairs are made, the Rent shall be reinstated with respect to such reoccupied portion of the Premises and shall be payable by Tenant from the date of such occupancy. The abatement of Rent provided for in this subsection shall continue for a period of two (2) months following the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to date Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at completes its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceobligations hereunder.
Appears in 1 contract
Repair of Damage. If Landlord’s good faith estimate of the Relevant Space is cost of repairs of any damage, the replacement cost of the Premises or the Building, and as provided in Landlord’s Restoration Period Estimate, the estimated time to complete restoration shall be conclusive as between Landlord and Tenant. Landlord shall promptly and diligently, subject to reasonable delays for insurance adjustment or other matters beyond Landlord’s reasonable control, and subject to all other terms of this Paragraph 12, restore the Premises, damaged in part or whole from any cause portions of the Outside Area serving the Building, and the Relevant Space can Building, as applicable. Such restoration shall be substantially repaired and restored within one hundred and fifty (150) days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before of the damagePremises, such portions of the Outside Area, and Building, respectively, prior to the casualty, except for modifications required by zoning and building codes and other laws or by the holder of a mortgage on the Building or Project or any other modifications to the Premises, Outside Area, or Building, respectively, deemed desirable by Landlord, which are consistent with the character of the Project, provided that, upon completion of such restoration, access to and use of the Premises shall not be materially impaired. This repair and restoration All insurance proceeds for repairs shall be made within one hundred payable solely to Landlord, and fifty (150) days from the date Tenant shall have no interest therein, Nothing herein shall be construed to obligate Landlord to expend monies in excess of the damage (insurance proceeds received by Landlord. Landlord shall be responsible for the “Repair and Restoration Period”) insurance deductible, unless the delay loss is due caused by Tenant or Tenant’s Agents, in which case, and notwithstanding the provisions of Paragraph 11.3, Tenant shall be responsible for the amount of the deductible, Notwithstanding any provision to causes beyond the contrary, Landlord’s reasonable control; providedobligation, should it elect or be obligated to repair or rebuild, shall be limited to the Premises, the Building or the Outside Area as the same existed immediately prior to the casualty, excluding, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair Work and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be any Alterations made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant SpaceTenant.
Appears in 1 contract
Samples: Sublease (Minerva Surgical Inc)
Repair of Damage. If the Relevant Space is Premises shall be damaged in part by fire or whole from any cause and the Relevant Space can be substantially repaired and restored within one hundred and fifty (150) days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances other casualty, then Landlord shall proceed to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150subject to receipt of insurance proceeds) days (the “Repair and Restoration Funds”)Premises to its condition preceding the damage, subject to the provisions of this Article 10. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, if Tenant is such repairs and restoration are not in default at the fact completed within Landlord's estimated time the damage occurs or at the time the Repair and Restoration Funds are received by Landlordperiod, so long as Landlord shall at its expense promptly have proceeded with reasonable due diligence. The Rent and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration additional rent until such repairs shall be made within one hundred and fifty (150) days from shall be reduced in the date proportion which the area of the part of the Premises which is not usable (it being understood that percentage of damage (shall not necessarily equate to percentage of usability) by Tenant bears to the “Repair and Restoration Period”) unless total area of the delay is due to causes beyond Landlord’s reasonable controlPremises; provided, however, that should Tenant reoccupy a portion of the Repair Premises for the conduct of its business prior to the date such repairs are made, the Rent shall be reinstated with respect to such reoccupied portion of the Premises and Restoration Period may shall be extended payable by Landlord Tenant from the date of such occupancy. Further, should Landlord, at its sole option, make available to Tenant, during the period of such repair, other space in the Building which is reasonably suitable for an additional ninety the temporary carrying on of Tenant's business (90and reasonably acceptable to Tenant), the Rent shall be reinstated with respect to such temporarily occupied space and shall be payable by Tenant from the date such space is occupied by Tenant. Whenever in this Article 10 reference is made to restoration of the Premises (i) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort Tenant's obligation shall be as to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored all property within the one hundred Premises including Tenant's furniture, fixtures, equipment and fifty other personal property, any and all Alterations, construction or other improvements made to the Premises by or on behalf of Tenant and any other leasehold improvements existing in the Premises on the date hereof, all of which shall be restored and replaced at Tenant's sole cost and expense and (150ii) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord 's obligation shall be as to the availability shell, which constitutes the structure of Repair the Building and Restoration Funds as aforesaid (the “Adequate Assurances”)mechanical, then either party mayelectrical, within ten (10) days after determining that plumbing, air-conditioning and other building systems up to the repairs point of connection into the Premises. During any period of Tenant's repair and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to following substantial completion of Landlord's repair and restore the Relevant Space even though restoration work (it being agreed that Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then shall give Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair written notice that Landlord's work is substantially complete), Rent and Restoration Period. Tenant additional rent shall be payable as if said fire or other casualty had not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceoccurred.
Appears in 1 contract
Samples: Lease Agreement (Viatel Inc)
Repair of Damage. If the Relevant Space is Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this Lease shall continue in part full force and effect except as hereinafter set forth. If the Premises shall be damaged by fire or whole from any cause and other casualty, then the Relevant Space can Premises shall be substantially repaired and restored to its condition preceding the damage in accordance with the provisions of this Article 10. Whenever in this Article 10 reference is made to restoration of the Premises, (i) Tenant’s obligation shall be as to all property within one hundred the Premises including Tenant’s furniture, fix1ures, equipment and fifty (150) days from other personal property, any and all Alterations, construction or other improvements made to the Premises by or on behalf of Tenant and any other leasehold improvements existing in the Premises on the date hereof, all of which shall be restored and replaced at Tenant’s sole cost and expense and (ii) Landlord’s obligation, if any, shall be as to the shell, which constitutes the structure of the damage using standard working methods Building and procedures the mechanical, electrical, plumbing, air-conditioning and other building-wide systems up to the point of connection into the Premises. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, if the such repairs and restoration are not in fact completed within Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”)estimated time period, and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, so long as Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damagehave proceeded with reasonable due diligence. This repair and restoration The Rent until such repairs shall be made within one hundred and fifty (150) days from shall be reduced in the date proportion which the area of the damage (part of the “Repair and Restoration Period”) unless Premises which is not usable by Tenant bears to the delay is due to causes beyond Landlord’s reasonable controltotal area of the Premises; provided, however, that should Tenant reoccupy a portion of the Repair Premises for the conduct of its business prior to the date such repairs are made, the Rent shall be reinstated with respect to such reoccupied portion of the Premises and Restoration Period may shall be extended payable by Tenant from the date of such occupancy. Notwithstanding the foregoing to the contrary, in no event shall the Rent be reduced for a period in excess of two {2) months following the date Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to substantially completes its repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceobligations hereunder.
Appears in 1 contract
Repair of Damage. Tenant shall promptly notify Landlord of any damage to the Premises resulting from fire or any other casualty to the extent Tenant is actually aware of such damage ("Casualty"). If the Relevant Space is Premises or any Common Areas serving or providing access to the Premises shall be damaged in part or whole from any cause and the Relevant Space can be substantially repaired and restored within one hundred and fifty (150) days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by LandlordCasualty, Landlord shall at its expense promptly and diligently repair diligently, subject to reasonable delays for insurance adjustment or other matters beyond Landlord's reasonable control, and subject to all other terms of this Article 11, restore the Relevant Space Base Building and such Common Areas. Such restoration shall be to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the damage (Base Building and the “Repair Common Areas prior to the Casualty, except for modifications required by zoning and Restoration Period”) unless building codes and other laws or by the delay is due holder of a mortgage on the Building or Project or any other modifications to causes beyond the Common Areas deemed desirable by Landlord’s reasonable control; provided, howeverwhich are consistent with the character of the Project, provided that access to the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space canPremises shall not be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as materially impaired. Subject to the availability terms of Section 11.2, below, Tenant shall, at its sole cost and expense, repair any injury or damage to the Tenant Improvements and the Original Improvements installed in the Premises and shall return such Tenant Improvements and Original Improvements to their original condition except for modifications required by zoning and building codes and other Applicable Laws. Whether or not Landlord delivers a "Landlord Repair Notice," as that term is defined in Section 11.2 below, prior to the commencement of construction, Tenant shall submit to Landlord, for Landlord's review and Restoration Funds as aforesaid (approval, all plans, specifications and working drawings relating thereto, and Landlord shall select the “Adequate Assurances”), then either party may, contractors to perform such improvement work. Tenant shall in addition cooperate with requests for by providing the requested information within ten (10) business days after determining that Tenant receives the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if request. Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able liable for any inconvenience or annoyance to cancel Tenant or its visitors, or injury to Tenant's business resulting in any way from such damage or the repair thereof; provided however, that if such Casualty shall have damaged the Premises or Common Areas necessary to Tenant's occupancy, and the Premises are not occupied by Tenant as a result thereof, then during the time and to the extent the Premises are unfit for occupancy, the Rent shall be abated in proportion to the ratio that the amount of rentable square feet of the Premises which is unfit for occupancy for the purposes permitted under this Lease if its willful misconduct causes bears to the damage unless total rentable square feet of the Premises. In the event that Landlord shall not deliver the Landlord Repair Notice, Tenant's right to rent abatement pursuant to the preceding sentence shall terminate as of the date which is not promptly and diligently repairing and restoring reasonably determined by Landlord to be the Relevant Space.date Tenant should have completed repairs to the Premises assuming Tenant used reasonable due diligence in connection therewith. Notwithstanding any contrary provision of this Article 11, the parties hereby agree as follows:
Appears in 1 contract
Repair of Damage. If the Relevant Space is Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt notice thereof to Landlord and this Lease shall continue in part full force and effect except as hereinafter set forth. If the Premises shall be damaged by fire or whole from any cause and other casualty, then the Relevant Space can Premises shall be substantially repaired and restored to its condition preceding the damage in accordance with the provisions of this Article 10 as promptly as reasonably practicable. Whenever in this Article 10 reference is made to restoration of the Premises, (i) Tenant's obligation shall be as to all property within one hundred the Premises including Tenant's furniture, fixtures, equipment and fifty other personal property, of which shall be restored and replaced at Tenant's sole cost and expense and (150ii) days from Landlord's obligation, if any, shall be as to the shell, which constitutes the structure of the Building, the mechanical, electrical, plumbing, air-conditioning and other building-wide systems up to the point of connection into the Premises and any other leasehold improvements existing in the Premises on the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the such damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that at Landlord's sole discretion, Landlord may elect to have Tenant restore and any and all Alterations, construction or other improvements made to the Repair and Restoration Period may be extended Premises by or on behalf of Tenant, in which event Landlord shall make all insurance proceeds received by Landlord for an additional ninety the same made available to Tenant in accordance with the provisions of Schedule B hereof. Subject to the terms of this Subsection A, Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, if such repairs and restoration are not in fact completed within Landlord's estimated time period, so long as Landlord shall have proceeded with reasonable due diligence. The Rent until such repairs shall be made shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant bears to the total area of the Premises; provided, however, should Tenant reoccupy a portion of the Premises for the conduct of its business prior to the date such repairs are made, the Rent shall be reinstated with respect to such reoccupied portion of the Premises and shall be payable by Tenant from the date of such occupancy. In the event Landlord elects to have Tenant restore the Premises, notwithstanding the foregoing to the contrary, the Rent shall be reduced during Tenant's restoration of the Premises but in no event for more than three (903) months following the date Landlord substantially completes its repair and restoration to the shell and other building-wide systems. Within sixty (60) days if at after notice to Landlord of damage to the end of one hundred and fifty (150) days Premises or any part thereof by fire or other casualty, Landlord is making shall deliver to Tenant an estimate prepared by a prompt and diligent effort reputable contractor selected by Landlord setting forth such contractor's estimate as to the reasonable time required to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraphsuch damage. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day estimated time period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within exceeds ten (10) days after determining that the repairs and restoration canmonths, Tenant may elect to terminate this Lease by notice to Landlord given not be made or the Adequate Assurances cannot be given within one hundred and fifty later than fifteen (15015) days following the delivery of such estimate to Tenant. If Tenant elects to terminate this Lease, the Term of this Lease shall expire upon the thirtieth (as prescribed in paragraph 6.01(c))30th) day after notice of such election is given by Tenant and Tenant shall vacate the Premises and surrender the same to Landlord and the Rent and additional rent shall be terminated from and after the effective date of such termination. If Tenant shall not so elect to terminate this Lease, cancel but Landlord shall thereafter fail to substantially complete the restoration of the Premises on or before the estimated restoration date for any reason whatsoever, other than a force majeure event or any other cause beyond the reasonable control of Landlord, Tenant shall have the right to terminate this Lease by giving notice to Landlord not later than five (5) days following the other party; provided, however, Tenant may not cancel the Lease estimated restoration date and if Landlord agrees shall fail to so complete such restoration within five (5) days following Landlord's receipt of Tenant's termination notice (subject to delays caused by force majeure events or any similar cause beyond the reasonable control of Landlord), this Lease shall be deemed canceled and terminated as of the date of the giving of such termination notice as if such date were the Expiration Date. If Landlord elects to have Tenant restore the Premises in accordance with the provisions of this subsection A, Tenant's right to terminate this Lease pursuant to the immediately preceding sentence shall only be applicable if Landlord fails to timely complete its repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end restoration of the Repair shell and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceother building-wide systems.
Appears in 1 contract
Repair of Damage. If the Relevant Space is Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt notice thereof to Landlord and this Lease shall continue in part full force and effect except as hereinafter set forth. If the Premises shall be damaged by fire or whole from any cause and other casualty, then the Relevant Space can Premises shall be substantially repaired and restored to its condition preceding the damage in accordance with the provisions of this Article 10. Whenever in this Article 10 reference is made to restoration of the Premises, (i) Tenant's obligation shall be as to all property within one hundred the Premises including Tenant's furniture, fixtures, equipment and fifty other personal property, any and all Alterations, construction or other improvements made to the Premises by or on behalf of Tenant (150excluding any Building-Standard Alterations made by Landlord as part of Landlord's Initial Construction, and excluding any changes to such Building-Standard Alterations provided that, after completion thereof, Landlord's responsibility shall not exceed that which Landlord would have had for Building-Standard Alterations (herein called "Building Standard Changes") all of which shall be restored and replaced at Tenant's sole cost and expense ("Tenant's Restoration Obligations") and (ii) Landlord's obligation, if any, shall be as to the shell, which constitutes the structure of the Building, the mechanical, electrical, plumbing and other building-wide systems up to the point of connection into the Premises, the Building Standard Alterations made by Landlord as part of Landlord's Initial Construction, Building-Standard Changes and any leasehold improvements existing in the Premises on the date hereof ("Landlord's Restoration Obligations"). In addition, at Tenant's request, Landlord shall also restore any Above-Building Standard Improvements made as part of Landlord's Initial Construction or subsequently made by Tenant provided (a) Tenant makes the proceeds of insurance available to Landlord for the cost of the same (or Tenant otherwise pays such costs to Landlord in advance of the performance of such work) and (b) if the performance of such work delays the completion of Landlord's Restoration Obligations, the abatement of the Base Rent and additional rent shall cease as of the date Landlord would have otherwise completed Landlord's Restoration Obligations. Landlord shall have no liability to Tenant, and (except as expressly provided below) Tenant shall not be entitled to terminate this Lease, if such repairs and restoration are not in fact completed within Landlord's estimated time period for restoration (if any), so long as Landlord shall have proceeded with reasonable due diligence, subject however to the provisions of subsection C below. If the Building or Premises shall be partially damaged or partially destroyed, the Rent shall be reduced in the proportion which the area of the part of the Premises which is damaged bears to the total area of the Premises until the date which is sixty (60) days from after Landlord's Restoration Obligations are completed or such earlier date that Tenant retakes possession of the Premises for the conduct of its business therein; provided, however, the Rent shall be abated in its entirety during the restoration period if the balance of the Premises becomes unusable or inaccessible and Tenant vacates the Premises by reason thereof. If all or substantially all of the Premises are totally damaged or are rendered wholly untenantable or unaccessible, the Base Rent and additional rent shall xxxxx as of the date of the damage using standard working methods and procedures if or destruction until the date which is ten (10) business days after Landlord’s mortgagee provides adequate assurances 's Restoration Obligations are completed or such earlier date that Tenant retakes possession of the Premises for the conduct of its business therein. Notwithstanding the foregoing, in the event of such damage to Landlord that it will make sufficient insurance proceeds available the Premises in whole or in part, should Tenant retake possession of a portion of the Premises prior to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”)date Landlord's repairs are made, and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration Rent shall be made within one hundred reinstated with respect to such reoccupied portion of the Premises and fifty (150) days shall be payable by Tenant from the date of the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spacesuch possession.
Appears in 1 contract
Repair of Damage. If the Relevant Space is Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give immediate notice thereof to Owner and this Lease shall continue in part full force and effect except as hereinafter set forth. If the Premises shall be damaged by fire or whole from any cause and other casualty, then the Relevant Space can Premises shall be substantially repaired and restored to its condition preceding the damage in accordance with the provisions of this Article 10. Whenever in this Article 10 reference is made to restoration of the Premises, (i) Tenant’s obligation shall be as to all property within one hundred the Premises including Tenant’s furniture, fixtures, equipment and fifty (150) days from other personal property, any and all Alterations, construction or other improvements made to the Premises by or on behalf of Tenant and any other leasehold improvements existing in the Premises on the date hereof, all of which shall be restored and replaced at Tenant’s sole cost and expense and (ii) Landlord’s obligation, if any, shall be as to the shell, which constitutes the structure of the damage using standard working methods Building and procedures the mechanical, electrical, plumbing, air-conditioning and other building-wide systems up to the point of connection into the Premises. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, if the such repairs and restoration are not in fact completed within Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”)estimated time period, and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, so long as Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damagehave proceeded with reasonable due diligence. This repair and restoration The Rent until such repairs shall be made within one hundred and fifty (150) days from shall be reduced in the date proportion which the area of the damage (part of the “Repair and Restoration Period”) unless Premises which is not usable by Tenant bears to the delay is due to causes beyond Landlord’s reasonable controltotal area of the Premises; provided, however, that should Tenant reoccupy a portion of the Repair Premises for the conduct of its business prior to the date such repairs are made, the Rent shall be reinstated with respect to such reoccupied portion of the Premises and Restoration Period may shall be extended payable by Tenant from the date of such occupancy. Notwithstanding the foregoing to the contrary, in no event shall the Rent be reduced for a period in excess of two (2) months following the date Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to substantially completes its repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceobligations hereunder.
Appears in 1 contract
Samples: Lease Agreement (Yodle Inc)
Repair of Damage. If the Relevant Space is Base Building or any Common Areas serving or providing access to the Premises or Parking Facilities shall be damaged in part by a fire or whole from any cause and the Relevant Space can be substantially repaired and restored within one hundred and fifty other casualty (150) days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”collectively, a "Casualty"), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair diligently, subject to reasonable delays for insurance adjustment or Force Majeure Delays, and subject to all other terms of this Article 11, restore the Relevant Space Base Building and such Common Areas. Such restoration shall be to substantially the same condition as existed before of the damageBase Building and the Common Areas prior to the Casualty, except for modifications required by Applicable Laws. This Tenant shall have the sole right, but not the obligation, at its sole cost and expense, to repair any injury or damage to the Improvements and restoration the Original Improvements installed in the Premises and to return such Improvements and Original Improvements to their original condition, which work shall be made within one hundred performed as an Alteration pursuant to Article 8, above. Landlord shall not be liable for any inconvenience or annoyance to Tenant or its visitors, or injury to Tenant's business resulting in any way from such damage or the repair thereof; provided however, that if such Casualty shall have damaged the Premises or Common Areas necessary to Tenant's occupancy, and fifty the Premises is not occupied by Tenant as a result thereof, then during the time and to the extent the Premises is unfit for occupancy, the Rent shall be abated to the extent that the Premises is not usable by Tenant for the conduct of business. In the event that Landlord shall not deliver the Landlord Repair Notice, Tenant's right to rent abatement pursuant to the preceding sentence shall terminate as of the date which is reasonably determined by Landlord to be the date Tenant should have completed repairs to the Premises assuming Tenant used reasonable due diligence in connection therewith. If, as a result of a Casualty, Tenant is prevented from using, and does not use, more than ten percent (15010%) days of Tenant's Parking Passes for the Parking Facilities for more than ten (10) consecutive days, Tenant shall be entitled to an equitable abatement of the Operating Expenses associated with the Parking Facilities based on the number of parking spaces in Tenant's Parking Passes that are unusable and not used by tenant from the date of such Casualty until rebuilt by Landlord. In addition, if any Casualty also affects the damage (the “Repair Food and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Beverage Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period Landlord shall use reasonable efforts to make alternative food service available to Tenant, such as by providing access to food trucks or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed cafeterias in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant SpacePhases.
Appears in 1 contract
Samples: Lease Agreement (Cytokinetics Inc)
Repair of Damage. Tenant shall promptly notify Landlord of any damage to the Premises resulting from fire or any other casualty (“Casualty”). If the Relevant Space is damaged in part Premises or whole from any cause and the Relevant Space can be substantially repaired and restored within one hundred and fifty (150) days from the date Common Areas or other portions of the damage using standard working methods and procedures if Project serving or providing access to the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received Premises shall be damaged by LandlordCasualty, Landlord shall at its expense promptly and diligently repair diligently, subject to reasonable delays for insurance adjustment or other matters beyond Landlord’s reasonable control, and subject to all other terms of this Article 11, restore the Relevant Space Base Building and such Common Areas and portions of the Project. Such restoration shall be to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the Base Building and the Common Areas and Project prior to the Casualty, except for modifications required by zoning and building codes and other laws or by the holder of a mortgage on the Building or Project or any other modifications to the Common Areas deemed desirable by Landlord, which are consistent with the character of the Project, provided that access to the Premises shall not be materially impaired. Subject to the terms of Section 11.2, below, Tenant shall, at its sole cost and expense, repair any injury or damage (to the Tenant Improvements and the Original Improvements installed in the Premises and shall return such Tenant Improvements and Original Improvements to their original condition. Whether or not Landlord delivers a “Landlord Repair and Restoration Period”) unless Notice,” as that term is defined in Section 11.2 below, prior to the delay is due commencement of construction, Tenant shall submit to causes beyond Landlord, for Landlord’s reasonable control; providedreview and approval, howeverall plans, that specifications and working drawings relating thereto, and Landlord shall select the Repair and Restoration Period may be extended by Landlord contractors to perform such improvement work. Tenant shall in addition cooperate with requests for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes information regarding any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if repairs from Landlord’s mortgagee does not provide adequate assurances to Landlord as to insurer(s) by providing the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, requested information within ten (10) days after determining that Txxxxx receives the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if request. Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able liable for any inconvenience or annoyance to cancel Tenant or its visitors, or injury to Tenant’s business resulting in any way from such damage or the repair thereof; provided however, that if such Casualty shall have damaged the Premises or Common Areas or portions of the Project necessary to Tenant’s occupancy, and the Premises are not occupied by Tenant as a result thereof, then during the time and to the extent the Premises are unfit for occupancy, the Rent shall be abated in proportion to the ratio that the amount of rentable square feet of the Premises which is unfit for occupancy for the purposes permitted under this Lease if its willful misconduct causes bears to the damage unless total rentable square feet of the Premises. In the event that Landlord shall not deliver the Landlord Repair Notice, Txxxxx’s right to rent abatement pursuant to the preceding sentence shall terminate as of the date which is reasonably determined by Landlord to be the date Tenant should have completed repairs to the Premises assuming Tenant used reasonable due diligence in connection therewith. Notwithstanding any contrary provision of this Article 11, the parties hereby agree as follows: (i) the closure of the Project, the Building, the Common Areas, or any part thereof to protect public health shall not promptly constitute a Casualty for purposes of this Lease, (ii) Casualty covered by this Article 11 shall require that the physical or structural integrity of the Premises, the Project, the Building, or the Common Areas is degraded as a direct result of such occurrence, and diligently repairing (iii) a Casualty under this Article 11 shall not be deemed to occur merely because Tenant is unable to productively use the Premises in the event that the physical and restoring structural integrity of the Relevant SpacePremises is undamaged.
Appears in 1 contract
Samples: Lease (Alumis Inc.)
Repair of Damage. If In the Relevant Space event that the Premises or the Building is damaged in part by fire or whole from other insured casualty and insurance proceeds have been made available to Landlord to repair the damage by the insurer and any cause Mortgagees, the damage shall be repaired by and at the Relevant Space expense of Landlord to the extent of the insurance proceeds, provided that the Premises can be substantially repaired made fit for occupancy, in Landlord's reasonable opinion, within 180 days after the occurrence of the damage without the payment of overtime or other premiums. Until the repairs and restored restoration are completed, Rent shall be abated to the extent of any recovery by Landlord under its loss of rent insurance related to the Premises in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business as the result of the casualty, as may be reasonably determined by Landlord (but there shall be no abatement of Rent by reason of any portion of the Premises being unusable for a period of five days or less or as set forth below). Landlord agrees to notify Tenant within one hundred 60 days after the casualty if it estimates that it will be unable to repair and fifty (150) restore the Premises within 180 days, which will state the approximate length of time Landlord estimates will be required to complete the repairs and restoration, in which event Landlord in its notice or Tenant in a notice given to Landlord within 15 days thereafter may terminate this Lease effective 30 days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days such notice (the “Repair and Restoration Funds”"Termination Date"), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, howeverHowever, Tenant may not cancel the terminate this Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Neverthelessor receive an abatement of Rent, as above stated, if the Relevant Space damage to the Premises or the Building is not repaired and restored within in whole or in part the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end result of the Repair act, omission, fault or negligence of Tenant, its agents, contractors, employees, licensees or invitees. In the event this Lease is terminated, Tenant shall pay Rent until the Termination Date and Restoration Period shall forthwith surrender the Premises in accordance with Paragraph 22A. If Tenant fails so to surrender the Premises, Landlord may reenter and before the end of a period terminating thirty (30) days after the end take possession of the Repair Premises and Restoration Periodremove Tenant and the property and Alterations Tenant is required to remove under Paragraph 11, at Tenant's expense. Except as provided in this Paragraph, there shall be no abatement of rent and no liability of Landlord by reason of any damage to or interference with Tenant's business or property arising from the casualty or the making of any such repairs, alterations or improvements in or to the Building Complex or Premises. Tenant understands that Landlord will not carry insurance of any kind on Tenant's Property, or any Alterations installed in the Premises by or on behalf of Tenant, and that Landlord shall not be able obligated to cancel this Lease if its willful misconduct causes the repair any damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceor replace any of Tenant's Property or any such Alterations, which shall be Tenant's responsibility.
Appears in 1 contract
Samples: Office Lease (Esoft Inc)
Repair of Damage. If the Relevant Space is Premises or the Real Property shall be damaged in part by fire or whole from any cause other casualty insured against by Landlord’s fire and extended coverage insurance policy covering the Building (a “Casualty”), as required under Section 11.2 (Insurance by Landlord), and the Relevant Space Premises or the Real Property can be substantially repaired and restored fully repaired, in Landlord’s reasonable opinion, within one hundred and fifty (150) 180 days from the date of the damage using standard working methods and procedures if the such damage, Landlord, at Landlord’s mortgagee provides adequate assurances expense, shall promptly repair such damage; provided however, that Landlord shall have no obligation to replace or to repair any damage to Tenant’s Property or Tenant’s leasehold improvements, installed by Tenant or any other property located in the Premises. Tenant shall vacate such portion of the Premises as Landlord that it will make sufficient insurance proceeds available reasonably requires to substantially enable Landlord to repair the Premises or the Building. Landlord shall take all reasonable efforts to restore the Premises as required hereunder as promptly as possible to the conditions existing prior to such casualty and restore in any event within not more than one hundred fifty eighty (150180) days (days. Abatement - If the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration entire Premises shall be made within one hundred and fifty (150) days rendered untenantable, then Rent shall xxxxx for the period from the date of the such damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within date which is ten (10) days after determining the date when such damage shall have been repaired. If only a part of the Premises shall be so rendered untenantable, then Rent shall xxxxx for such period in the proportion that the repairs and restoration cannot be made or area of the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel part of the Lease by giving notice Premises so rendered untenantable bears to the other partytotal area of the Premises; provided, however, if, before the date when all of such damage shall have been repaired, any part of the Premises so damaged shall be rendered tenantable and shall be used or occupied by Tenant may not cancel the Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Periodor any person claiming through or under Tenant other than for purposes of repair, then Tenant may cancel the amount by which the Rent shall xxxxx shall be equitably apportioned for the period from the date of any such use or occupancy to the date when all such damage shall have been repaired. Except as specifically provided in this Lease, this Lease at any time after the end of the Repair shall not terminate, and Restoration Period Landlord and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able released from any of their liabilities or obligations under this Lease, as a result of damage or destruction to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring Premises or the Relevant SpaceBuilding caused by fire or other casualty.
Appears in 1 contract
Repair of Damage. If the Relevant Space is Premises (other than Alterations or Tenant's property) shall be damaged in part by fire or whole from any cause and the Relevant Space can be substantially repaired and restored within one hundred and fifty (150) days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances other casualty, then Landlord shall proceed to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150subject to receipt of insurance proceeds) days (the “Repair and Restoration Funds”)Premises to its condition preceding the damage, subject to the provisions of this Article 10. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, if Tenant such repairs and restoration are not in fact completed within Landlord's estimated time period, so long as Landlord shall have proceeded with reasonable due diligence. Until such repairs shall be made, the Rent shall be reduced in the proportion which the area of the part of the Premises which is not in default at usable by Tenant bears to the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date total area of the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable controlPremises; provided, however, that should Tenant reoccupy a portion of the Repair Premises for the conduct of its business prior to the date such repairs are made, the Rent shall be reinstated with respect to such reoccupied portion of the Premises and Restoration Period may shall be extended payable by Tenant from the date of such occupancy. Landlord shall use its commercially reasonable efforts to minimize interference with Tenant's use and occupancy in making any repairs pursuant to this Section. Further, should Landlord, at its sole option, make available to Tenant, during the period of such repair, other space in the Building of equal or better quality which is reasonably suitable for an additional ninety the temporary continuation of Tenant's business, the Rent shall be reinstated with respect to such temporarily occupied space and shall be payable by Tenant from the date such space is occupied by Tenant. Whenever in this Article 10 reference is made to restoration of the Premises (90i) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort Tenant's obligation shall be as to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored all property within the one hundred Premises including Tenant's furniture, fixtures, equipment and fifty other personal property, any and all Alterations, construction or other improvements made to the Premises by or on behalf of Tenant and any other leasehold improvements existing in the Premises on the date hereof, all of which shall be restored and replaced at Tenant's sole cost and expense and (150ii) day period or Landlord's obligation, if Landlord’s mortgagee does not provide adequate assurances to Landlord any, shall be as to the availability shell, which constitutes the structure of Repair the Building and Restoration Funds the mechanical, electrical, plumbing, air-conditioning and other building systems up to the point of connection into the Premises, the floor and ceiling slabs of the Premises, the exterior walls of the Premises and other core areas. Landlord's obligation to repair or rebuild, and Tenant's right to rent abatement, as aforesaid (described in this Article 10, are only effective provided the “Adequate Assurances”)damage or destruction is not due to the intentional or negligent acts or omissions of Tenant, then either party mayits agents, within ten (10) days after determining employees, licensees or invitees. After substantial completion of Landlord's repair obligations set forth above, Landlord shall provide Tenant and Tenant's contractor, subcontractors and materialmen access to the Premises to perform Alterations. Such access by Tenant shall be deemed to be subject to all of the applicable provisions of this Lease, except that there shall be no obligation on the repairs part of Tenant, solely as a result of such access, to pay any Rent or additional rent with respect to the affected portion of the Premises for any period prior to the re-occupation of any part of the Premises by Tenant for the conduct of its business. During any period of Tenant's repair and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to following substantial completion of Landlord's repair and restore the Relevant Space even though Landlord has restoration work, Rent and additional rent shall be payable as if said fire or other casualty had not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceoccurred.
Appears in 1 contract
Samples: Lease Agreement (Nextvenue Inc)
Repair of Damage. If In the Relevant Space event that the Premises or the Building is ---------------- damaged in part by fire or whole from other insured casualty and insurance proceeds have been made available to Landlord to repair the damage by the insurer and any cause Mortgagees, the damage shall be repaired by and at the Relevant Space expense of Landlord to the extent of the insurance proceeds, provided that the Premises can be substantially repaired made fit for occupancy, in Landlord's reasonable opinion, within 180 days after the occurrence of the damage without the payment of overtime or other premiums. Until the repairs and restored restoration are completed, Rent shall be abated to the extent of any recovery by Landlord under its loss of rent insurance related to the Premises in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business as the result of the casualty, as may be reasonably determined by Landlord (but there shall be no abatement of Rent by reason of any portion of the Premises being unusable for a period of five days or less or as set forth below). Landlord agrees to notify Tenant within one hundred 60 days after the casualty if it estimates that it will be unable to repair and fifty (150) restore the Premises within 180 days, which will state the approximate length of time Landlord estimates will be required to complete the repairs and restoration, in which event Landlord in its notice or Tenant in a notice given to Landlord within 15 days thereafter may terminate this Lease effective 30 days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days such notice (the “Repair and Restoration Funds”"Termination Date"), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, howeverHowever, Tenant may not cancel the terminate this Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Neverthelessor receive an abatement of Rent, as above stated, if the Relevant Space damage to the Premises or the Building is not repaired and restored within in whole or in part the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end result of the Repair act, omission, fault or negligence of Tenant, its agents, contractors, employees, licensees or invitees. In the event this Lease is terminated, Tenant shall pay Rent until the Termination Date and Restoration Period shall forthwith surrender the Premises in accordance with Paragraph 21.
1. If Tenant fails so to surrender the Premises, Landlord may reenter and before the end of a period terminating thirty (30) days after the end take possession of the Repair Premises and Restoration Periodremove Tenant and the property and Alterations Tenant is required to remove under Paragraph 10, at Tenant's expense. Except as provided in this Paragraph 16, there shall be no abatement of rent and no liability of Landlord by reason of any damage to or interference with Tenant's business or property aris- ing from the casualty or the making of any such repairs, alterations or improvements in or to the Building Complex or Premises. Tenant understands that Landlord will not carry insurance of any kind on Tenant's Property, or any Alterations installed in the Premises by or on behalf of Tenant, and that Landlord shall not be able obligated to cancel this Lease if its willful misconduct causes the repair any damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceor replace any of Tenant's Property or any such Alterations, which shall be Tenant's responsibility.
Appears in 1 contract
Repair of Damage. If In the Relevant Space event that the Premises or the Building is damaged in part by fire or whole from other insured casualty and insurance proceeds have been made available to Landlord to repair the damage by the insurer and any cause Mortgagees, the damage shall be repaired by and at the Relevant Space expense of Landlord to the extent of the insurance proceeds, provided that the Premises can be substantially repaired made fit for occupancy, in Landlord's reasonable opinion, within 180 days after the occurrence of the damage without the payment of overtime or other premiums. Until the repairs and restored restoration are completed, Rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business as the result of the casualty, as may be reasonably determined by Landlord (but there shall be no abatement of Rent by reason of any portion of the Premises being unusable for a period of five days or less or as set forth below). Landlord agrees to notify Tenant within one hundred 60 days after the casualty if it estimates that it will be unable to repair and fifty (150) restore the Premises within 180 days, which will state the approximate length of time Landlord estimates will be required to complete the repairs and restoration, in which event Landlord in its notice or Tenant in a notice given to Landlord within 15 days thereafter may terminate this Lease effective 30 days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days such notice (the “Repair and Restoration Funds”"Termination Date"), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, howeverHowever, Tenant may not cancel the terminate this Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Neverthelessor receive an abatement of Rent, as above stated, if the Relevant Space damage to the Premises or the Building is not repaired and restored within in whole or in part the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end result of the Repair and Restoration Period and before willful act, omission, fault or negligence of Tenant, its agents or employees. In the end of a period terminating thirty (30) days after event this Lease is terminated, Tenant shall pay prorated Rent for the end usable portion of the Repair Premises until the Termination Date and Restoration Periodshall forthwith surrender the Premises in accordance with Paragraph 22A. If Tenant fails so to surrender the Premises, Landlord may reenter and take possession of the Premises and remove Tenant and the property and Alterations Tenant is required to remove under Paragraph 11, at Tenant's expense. Except as provided in this Paragraph, there shall be no abatement of rent and no liability of Landlord by reason of any damage to or interference with Tenant's business or property arising from the casualty or the making of any such repairs, alterations or improvements in or to the Building Complex or Premises. Tenant understands that Landlord will not carry insurance of any kind on Tenant's Property, or any Alterations installed in the Premises by or on behalf of Tenant, and that Landlord shall not be able obligated to cancel repair any damage or replace any of Tenant's Property or any such Alterations, which shall be Tenant's responsibility. In addition to Tenant's right to terminate this Lease as provided above, Tenant shall have the further right to terminate this Lease if its willful misconduct causes the Premises shall not be fully restored within 240 days after such damage, or if such damage unless Landlord is not promptly and diligently repairing and restoring shall occur within the Relevant Spacelast 180 days of the Lease Term.
Appears in 1 contract
Samples: Office Lease (Lightbridge Inc)
Repair of Damage. If the Relevant Space is Premises or any part thereof shall be damaged by fire or other casualty, Tenant shall give prompt notice thereof to Owner and this Lease shall continue in part full force and effect except as hereinafter set forth. If the Premises shall be damaged by fire or whole from any cause and other casualty, then the Relevant Space can Premises shall be substantially repaired and restored to its condition preceding the damage in accordance with the provisions of this Article 10. Whenever in this Article 10 reference is made to restoration of the Premises, (i) Tenant’s obligation shall be as to all property within one hundred the Premises such as Tenant’s furniture, fixtures, equipment and fifty other personal property of Tenant, any and all Alterations, construction or other improvements made to the Premises by or on behalf of Tenant and any other leasehold improvements existing in the Premises on the date hereof, all of which shall be restored and replaced at Tenant’s sole cost and expense and (150ii) Landlord’s obligation, if any, shall be as to the shell, which constitutes the structure of the Building and the mechanical, electrical, plumbing, air-conditioning and other building-wide systems up to the point of connection into the Premises. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, if such repairs and restoration are not in fact completed within Landlord’s estimated time period as given by Notice to Tenant by Landlord within sixty (60) days after such fire or other casualty if such failure by Landlord is a result of “Force Majeure.” The Rent until such repairs shall be made shall be reduced in the proportion which the area of the part of the Premises which is not usable by Tenant bears to the total area of the Premises provided, however, should Tenant reoccupy a portion of the Premises for the conduct of its business prior to the date such repairs are made, the Rent shall be reinstated with respect to such reoccupied portion of the Premises and shall be payable by Tenant from the date of such occupancy. The abatement of Rent provided for in this subsection shall continue for a period of two (2) months following the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances to date Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150) days (the “Repair and Restoration Funds”), and if Tenant is not in default at the time the damage occurs or at the time the Repair and Restoration Funds are received by Landlord, Landlord shall at completes its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damage. This repair and restoration shall be made within one hundred and fifty (150) days from the date of the damage (the “Repair and Restoration Period”) unless the delay is due to causes beyond Landlord’s reasonable control; provided, however, that the Repair and Restoration Period may be extended by Landlord for an additional ninety (90) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored within the one hundred and fifty (150) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord as to the availability of Repair and Restoration Funds as aforesaid (the “Adequate Assurances”), then either party may, within ten (10) days after determining that the repairs and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to repair and restore the Relevant Space even though Landlord has not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceobligations hereunder.
Appears in 1 contract
Repair of Damage. If the Relevant Space is Premises shall be damaged in part by fire or whole from any cause and the Relevant Space can be substantially repaired and restored within one hundred and fifty (150) days from the date of the damage using standard working methods and procedures if the Landlord’s mortgagee provides adequate assurances other casualty, then Landlord shall proceed to Landlord that it will make sufficient insurance proceeds available to substantially repair and restore within one hundred fifty (150subject to receipt of insurance proceeds) days (the “Repair and Restoration Funds”)Premises to its condition preceding the damage, subject to the provisions of this Article 10. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this Lease, if Tenant is such repairs and restoration are not in default at the fact completed within Landlord’s estimated time the damage occurs or at the time the Repair and Restoration Funds are received by Landlordperiod, so long as Landlord shall at its expense promptly and diligently repair and restore the Relevant Space to substantially the same condition as existed before the damagehave proceeded with reasonable due diligence. This repair and restoration The Rent until such repairs shall be made within one hundred and fifty (150) days from shall be reduced in the date proportion which the area of the damage (part of the “Repair and Restoration Period”) unless Premises which is not usable by Tenant bears to the delay is due to causes beyond Landlord’s reasonable controltotal area of the Premises; provided, however, that should Tenant reoccupy a portion of the Repair Premises for the conduct of its business prior to the date such repairs are made, the Rent shall be reinstated with respect to such reoccupied portion of the Premises and Restoration Period may shall be extended payable by Landlord Tenant from the date of such occupancy. Further, should Landlord, at its sole option, make available to Tenant, during the period of such repair, other space in the Building which is reasonably suitable for an additional ninety the temporary carrying on of Tenant’s business, the Rent shall be reinstated with respect to such temporarily occupied space and shall be payable by Tenant from the date such space is occupied by Tenant. Whenever in this Article 10 reference is made to restoration of the Premises, (90i) days if at the end of one hundred and fifty (150) days Landlord is making a prompt and diligent effort Tenant’s obligation shall be as to repair and restore the Relevant Space, but has not completed doing so. The term “Repair and Restoration Period” includes any extension thereof provided for under this paragraph. If the Relevant Space cannot be repaired and restored all property within the one hundred Premises including Tenant’s furniture, fixtures, equipment and fifty other personal property, any and all Alterations, construction or other improvements made to the Premises by or on behalf of Tenant and any other leasehold improvements existing in the Premises on the date hereof, all of which shall be restored and replaced at Tenant’s sole cost and expense and (150ii) day period or if Landlord’s mortgagee does not provide adequate assurances to Landlord obligation, if any, shall be as to the availability shell, which constitutes the structure of Repair the Building and Restoration Funds the mechanical, electrical, plumbing, air-conditioning and other building systems up to the point of connection into the Premises. Landlord’s obligation to repair or rebuild, and Tenant’s right to rent abatement, as aforesaid (described in this Article 10, are only effective provided the “Adequate Assurances”)damage or destruction is not due to the intentional or negligent acts or omissions of Tenant, then either party mayits agents, within ten (10) days after determining that the repairs employees, licensees or invitees. During any period of Tenant’s repair and restoration cannot be made or the Adequate Assurances cannot be given within one hundred and fifty (150) days (as prescribed in paragraph 6.01(c)), cancel the Lease by giving notice to the other party; provided, however, Tenant may not cancel the Lease if Landlord agrees to following substantial completion of Landlord’s repair and restore the Relevant Space even though Landlord has restoration work, Rent and additional rent shall be payable as if said fire or other casualty had not received the Adequate Assurances. Nevertheless, if the Relevant Space is not repaired and restored within the Repair and Restoration Period, then Tenant may cancel the Lease at any time after the end of the Repair and Restoration Period and before the end of a period terminating thirty (30) days after the end of the Repair and Restoration Period. Tenant shall not be able to cancel this Lease if its willful misconduct causes the damage unless Landlord is not promptly and diligently repairing and restoring the Relevant Spaceoccurred.
Appears in 1 contract
Samples: Lease Agreement (Intralinks Inc)