Repair/Restoration. If the Lease is not terminated pursuant to Subparagraphs (A) or (B), Landlord, at its expense, shall promptly restore and/or repair the Premises (other than Alterations or Additional Tenant Improvements identified as being required to be removed by Tenant upon a termination of the Lease, all of which shall be the Tenant’s sole responsibility) and any other portions of the Building outside the Premises required for Tenant’s use of the Premises. In no event shall Landlord be required to restore fixtures or improvements made or owned by Tenant. If Tenant is reasonably required to close all or a portion of its operations during the period of repair/restoration, Base Rent and Additional Rent shall xxxxx on a proportional basis (based upon the square footage of the unusable portion of the Premises) during that period. In no event shall Landlord have any liability for losses claimed by Tenant resulting, directly or indirectly, from Tenant’s inability to use the Premises. Unless otherwise agreed in writing by Landlord and Tenant at the time the restoration/repairs are commenced, in the event Landlord fails to Substantially Complete the restoration/repairs within one hundred eighty (180) days after the date of the destruction other than as a result of Tenant Delays, Tenant may terminate the Lease by giving written notice of termination to Landlord at any time prior to Substantial Completion of the restoration/repairs.
Appears in 2 contracts
Samples: Lease Agreement (Liquidia Technologies Inc), Lease Agreement (Liquidia Technologies Inc)
Repair/Restoration. If the this Lease is not terminated pursuant to Subparagraphs (A) Section 20.1 or (B)20.2 above, Landlord, at its expense, Landlord shall promptly repair and/or restore and/or repair the Premises (other than Alterations or Additional Tenant Improvements identified as being required to be removed by Tenant upon a termination of the Lease, all of which shall be the Tenant’s sole responsibility) and any other portions of the Building outside the Premises reasonably required for Tenant’s use of the Premises. In no event shall Landlord be required to restore fixtures or improvements made or owned by TenantPremises as provided in this Lease. If Tenant is reasonably required to close all or a portion of its operations during the period of repair/restoration, Base Rent and Additional Monthly Rent shall xxxxx on a proportional basis (based upon on the rentable square footage of the unusable portion of the Premises) during that periodfrom the time all required Hazardous Material Clearances, if any, are obtained, until the Premises (or applicable portion thereof) are repaired and restored. In no event Landlord’s obligation to restore the Premises shall Landlord have any liability for losses claimed by Tenant resulting, directly or indirectlybe subject to delays arising from the collection of insurance proceeds, from Tenant’s inability force majeure events or as needed to use obtain any license, clearance or other authorization of any kind required to enter into and restore the Premises. Unless otherwise agreed Premises issued by any governmental authority having jurisdiction over the use, storage, handling, treatment, generation, release, disposal, removal or remediation of Hazardous Materials (as defined in writing Article 30) in, on or about the Premises (collectively referred to herein as “Hazardous Materials Clearances”); provided however, that if repair or restoration of the Premises is not substantially complete as of the end of the restoration period reasonably estimated by Landlord and above, Landlord or Tenant at the time the restoration/repairs are commencedmay elect to terminate this Lease, in the which event Landlord fails shall be relieved of its obligation to Substantially Complete make such repairs or restoration and this Lease shall terminate as of the restoration/repairs date of discovery. Notwithstanding anything herein to the contrary, Tenant shall not have the right to terminate this Lease based on the restoration not being substantially complete by the estimated date until Tenant has given Landlord written notice of the intention to terminate. If Landlord shall substantially complete the restoration within one hundred eighty thirty (18030) days after the date receipt of the destruction other than as a result of Tenant Delaysnotice, Tenant may terminate the Tenant’s notice shall be nullified and this Lease by giving written notice of termination to Landlord at any time prior to Substantial Completion of the restoration/repairsshall remain in full force and effect.
Appears in 2 contracts
Samples: Lease Agreement (Chimerix Inc), Lease Agreement (Chimerix Inc)