Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof.
Appears in 4 contracts
Samples: Lease Agreement (Viamet Pharmaceuticals Holdings LLC), Lease Agreement (Viamet Pharmaceuticals Holdings LLC), Lease Agreement (Viamet Pharmaceuticals Holdings LLC)
Repair. (a) If the Premises are damaged by fire or other perils (“Damaged Property”) covered by extended coverage insurance, Landlord shall, at Landlord’s option:
(i) In the event of total destruction (which shall mean destruction or damage in excess of fifty percent (50%) of the full insurable value thereof) of the Premises, elect either to commence promptly to repair and restore the Premises and prosecute the same diligently to completion, in which event this Lease shall remain in full force and effect; or not to repair or restore the Premises, in which event this Lease shall terminate. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 intention within sixty thirty (6030) days after any the date (the “Casualty Discovery Date”) Landlord obtains actual knowledge of such damage or destruction. If Landlord elects not to restore the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto)Premises, both the Landlord and Tenant shall have the option to terminate this Lease with written notice shall be deemed to the other party given within sixty (60) days after have terminated as of the date of any such total destruction.
(ii) In the event of a partial destruction (which shall mean destruction or damage to an extent not exceeding fifty percent (50%) of the full insurable value thereof) of the Premises for which Landlord will receive insurance proceeds sufficient to cover the cost to repair and restore such partial destruction and, if the damage thereto is such that the Premises may be substantially repaired or restored to its condition existing immediately prior to such damage or destruction If within two hundred forty (240) days from the Casualty Discovery Date, Landlord has elected to shall commence and proceed diligently with the work of repair and restore restoration, in which event the Premises Lease shall continue in full force and effect. If such repair and restoration requires longer than two hundred forty (240) days or other portion of the Project (and if the damage insurance proceeds therefor (plus any amounts Tenant may elect or destruction has occurred is obligated to contribute) are not sufficient to cover the cost of such repair and restoration, Landlord may elect either to so repair and restore, in which event the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (or not to exceed one [1] year)repair or restore, subject to in which event the provisions of Section 7.2 of this LeaseLease shall terminate. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permittedIn either case, Landlord shall refund give written notice to Tenant any prepaid Rent of its intention within sixty (unaccrued 60) days after the Casualty Discovery Date. If Landlord elects not to restore the Premises, this Lease shall be deemed to have terminated as of the date of damage or such partial destruction.
(iii) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything to the contrary contained in this Lease to the contrarySection, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event of damage to the holder Premises occurring during the last twelve (12) months of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtednessTerm, then either Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled or Tenant may elect to terminate this Lease by delivering written notice thereof of such election given to the non-terminating other party within thirty (30) days after the Casualty Discovery Date.
(b) If the Premises are damaged by any peril not covered by extended coverage insurance, and the cost to repair such damage exceeds any amount Tenant may agree to contribute, Landlord receives notice from its mortgagee of such electionmay elect either to commence promptly to repair and restore the Premises and prosecute the same diligently to completion, in which event this Lease shall remain in full force and effect; or not to repair or restore the Premises, in which event this Lease shall terminate. Landlord shall give Tenant written notice of its intention within sixty (60) days after the Casualty Discovery Date. If Landlord elects not to restore the Premises, this Lease shall be liable deemed to have terminated as of the date on which Tenant surrenders possession of the Premises to Landlord, except that if the damage to the Premises materially impairs Tenant’s ability to continue its business operations in the Premises, then this Lease shall be deemed to have terminated as of the date such damage occurred.
(c) In the event of repair and restoration as herein provided, the monthly installments of Base Rent shall be abated proportionately in the ratio which Tenant’s use of the Premises is impaired during the period of such repair or restoration, but only to the extent of rental interruption insurance proceeds actually received by Landlord; it being acknowledged that Landlord has no obligation to carry, or to require Tenant to carry, for Landlord’s benefit, rental interruption insurance. Except as expressly provided in the immediately preceding sentence with respect to abatement of Base Rent, Tenant shall have no claim against Landlord for, and hereby releases Landlord and Landlord’s Agents from responsibility for and waives its entire claim of recovery for any cost, loss or expense suffered or incurred by Tenant as a result of any damage to or destruction of the Premises or the Building or the repair or restoration thereof, including, without limitation, any cost, loss or expense resulting from any loss of use of the whole or any part of the Premises or the Building and/or any inconvenience or annoyance to Tenant occasioned by such damage, repair or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereofrestoration.
Appears in 3 contracts
Samples: Lease Agreement (Dolby Laboratories, Inc.), Lease Agreement (Dolby Laboratories, Inc.), Lease Agreement (Dolby Laboratories, Inc.)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises or the Building, except as specified in Exhibit B if attached to this Lease and except that Landlord shall repair and maintain the structural portions of the Building, including the roof and the basic plumbing, common area air conditioning, heating and electrical systems installed or furnished by Landlord and all common areas of the Building in working order and condition. By taking possession of the Premises, Tenant accepts them as being in good order condition and repair and in the damagecondition in which Landlord is obligated to deliver them subject to the items set forth on the punchlist prepared in accordance with Section 2.
1. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, expect as specifically set forth in this Lease.
7.2 Tenant shall at its own cost and expense keep and maintain all parts of the Premises and improvements therein in good condition, promptly making all necessary repairs and replacements, whether ordinary or extraordinary, with materials and workmanship of the same character, kind and quality as the original (including, but rather either party not limited to, repair and replacement of all fixtures installed by Tenant, windows, glass and plate glass, doors, any special office entries, interior walls and finish work, floors and floor coverings, heating and air conditioning systems serving the Premises, electrical systems and fixtures and sprinkler systems), if applicable. Tenant as part of its obligations hereunder shall keep the Premises in a clean and sanitary condition. Tenant will, as far as possible keep all such parts of the Premises from deterioration due to ordinary wear and from falling temporarily out of repair, and upon termination of this Lease in any way Tenant will deliver the Premises to Landlord in good condition and repair, loss by fire or other casualty excepted and ordinary wear and tear excepted. Tenant shall, at its own cost and expense, repair any damage to the Premises or the Building resulting from and/or caused in whole or in part by Tenant, its agents, employees, invitees, or any other person entering upon the Premises as a result of Tenant's business activities or caused by Tenant's default hereunder.
7.3 Landlord shall not be liable for any failure to make any repairs or to perform any maintenance unless such failure shall persist for an unreasonable time which shall be entitled to terminate this Lease by delivering determined in Landlord's reasonable discretion after written notice thereof of the need of such repairs or maintenance is given to Landlord by Tenant.
7.4 Except as provided in Articles 22, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant's business arising from the making of any repairs, alterations or improvements in or to any portion of the Building or the Premises or to fixtures, appurtenances and equipment in the Building unless due to Landlord's negligence or willful misconduct, in which event, after three (3) days, Tenant shall receive one (1) day of Rent abatement for each day Tenant is unable to operate in the Premises until Tenant can again operate in the Premises. Except to the non-terminating party extent, if any, prohibited by law, Tenant waives the right to make repairs at Landlord's expense under any law, statute or ordinance now or hereafter in effect.
7.5 Tenant shall, at its own cost and expense, enter into a regularly scheduled preventive maintenance/service contract with a maintenance contractor and/or an employee certified by manufacturer, selected by Tenant and approved by Landlord for servicing all heating and air conditioning systems and batteries, generators and fuel tanks serving the Premises (and a copy thereof shall be furnished to Landlord). The service contract must include all services suggested by the equipment manufacturer in the operation/maintenance manual and must become effective within thirty (30) days after the Commencement Date.
7.6 In recognition of Tenant's use, Landlord receives notice from its mortgagee shall use good-faith efforts to provide Tenant (except in the case of such election. emergency, in which event Landlord shall use reasonable efforts, but shall not be liable for any inconvenience required, to provide Tenant with prior notice) not less than twenty four (24) hours prior written notice of Landlord's intent to enter the Premises provided such entry shall not disrupt Tenant's service to its clients, and not less than forty eight (48) hours prior written notice of Landlord's intention to enter the Premises to effect planned repairs (including, but not limited to electrical, mechanical or annoyance to Tenant or injury to plumbing work) if such work will materially disrupt and/or interfere with the business of Tenant resulting within the Premises or Building in any way from a manner which will, in Landlord's reasonable opinion, affect Tenant's use. In such damage or destruction or circumstances Tenant and Landlord will cooperate to determine an appropriate time. Further, in emergency situations Landlord shall use reasonable care and precaution in order to minimize the disregard of the repair thereofdisruptions in Tenant's business.
Appears in 2 contracts
Samples: Lease (Startec Global Communications Corp), Lease (Startec Global Communications Corp)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section SECTION 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease)Project, this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [(1] ) year), subject to the provisions of Section SECTION 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord has elected to repair and reconstruct the Premises or other portion of the Project to the extent stated above, the Term will be extended for a time equal to the period from the occurrence of such damage to the completion of such repair and reconstruction. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately substantially the same condition as existed at the time Tenant entered into possession of the PremisesPremises (except for any work paid for by Tenant), reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s 's Property or Tenant WorkTenant's leasehold improvements. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section SECTION 7.3, in no event shall Landlord be required to expend under this Article ARTICLE VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section SECTION 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof.
Appears in 2 contracts
Samples: Lease (Texas Roadhouse, Inc.), Lease (Texas Roadhouse, Inc.)
Repair. Landlord shall use reasonable efforts to give Tenant written ------ notice of its decisions, estimates or elections under this Section 7.3 within sixty ----------- thirty (6030) days after any such damage or destruction. If the Term of the Lease Landlord is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected obligated to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease)Project, this Lease shall continue in full force and effect, and the repairs will be made within a as promptly as is commercially reasonable time thereafter (not to exceed one [1] year)120 days from the date of the Restoration Estimate, subject to the provisions of Section 7.2 of this ----------- Lease. Should the repairs repairs, despite Landlord's use of commercially reasonable efforts, not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord has elected to repair and reconstruct the Premises or other portion of the Project to the extent stated above, the Term will be extended for a time equal to the period from the occurrence of such damage to the completion of such repair and reconstruction. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s 's Property or Tenant WorkTenant's leasehold improvements. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required ----------- to expend under this Article VII any amount in excess of the proceeds actually ----------- received from the insurance carried by Landlord pursuant to Section 7.4(a) of -------------- this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof.
Appears in 2 contracts
Samples: Lease Agreement (Network Access Solutions Corp), Lease Agreement (Network Access Solutions Corp)
Repair. If this Lease is not terminated as provided above, Landlord shall use reasonable efforts thereafter diligently (taking into account the time necessary to give Tenant effectuate a satisfactory settlement with any insurance company involved and obtain permits) restore and repair the Premises and the Building in which the Premises is located to substantially the same condition they were in prior to such damage using materials and workmanship equal to or better in quality than those originally incorporated into the Premises; provided, however, if (i) if the damage or destruction was caused by a risk not insured under the insurance policies that Landlord maintains on the Project, (ii) insurance proceeds that, when added to any necessary deductible payment, would be sufficient for restoration are unavailable for any reason (other than due to Landlord’s failure to maintain the insurance coverage required hereunder) to restore the Premises and the Building, (iii) more than twenty-five percent (25%) of a Building is destroyed as a result of such damage, (iv) Landlord cannot reasonably reconstruct the damage within one hundred eighty (180) days from the date of casualty, (v) any mortgagee under a mortgage or deed of trust covering a Building requires that the insurance proceeds payable as a result of said casualty be used to retire all or any portion of the mortgage debt, (vi) the Premises are materially damaged during the last year of the Term (subject to Tenant’s right to extend the Term if Extended Terms remain available), or (vii) then-existing laws or ordinances do not permit such restoration, then Landlord shall have the right, at its sole option, to terminate this Lease by giving written notice of its decisions, estimates or elections under this Section 7.3 termination to Tenant within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after following the date of any such damage or destruction If Landlord has elected the damage, and further provided that Landlord’s determination of whether to repair terminate shall be made in good faith and restore in a non-discriminatory manner, it being the Premises or other portion intent of the Project (and if the damage or destruction has occurred in the last year of the Term and neither parties that Landlord or Tenant have elected not be able to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to use the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of terminationArticle 16 to terminate certain leases based solely on their being “below market” leases. If this Lease is terminated as herein permittedpursuant to the preceding sentence, Landlord all Base Rent and Additional Rent payable hereunder shall refund be equitably apportioned and paid to Tenant any prepaid Rent (unaccrued as of the date of the occurrence of such damage or destruction) , and neither Landlord nor Tenant shall have any further rights or remedies or obligations as against each other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess Lease accruing after the date of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereoftermination.
Appears in 2 contracts
Samples: Lease Agreement (Fisher Communications Inc), Purchase and Sale Agreement (Fisher Communications Inc)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises, except as specified in the Work Letter attached as Exhibit B to this Lease and except that Landlord shall repair and maintain in good working order, condition and repair (including making any necessary replacements) and in compliance with all applicable laws, the damagecommon areas and structural portions of the Building and the Premises, including, without limitation, the roof, roof membrane, roof covering, concrete slab, footings, foundation, exterior and common area walls, exterior and common area windows, common area flooring and common area plumbing, air conditioning, heating and electrical systems installed or furnished by Landlord (but rather either party excluding, however, any supplemental heating, ventilation and air conditioning units serving the Premises, which Tenant shall be entitled responsible for maintaining, repairing, replacing and insuring at Tenant’s sole cost and expense) (collectively, the “Building Structure”). In addition, Landlord shall be responsible, at its sole cost, for remedying any defects or deficiencies in the Landlord’s Work of which Tenant shall notify Landlord in writing within one (1) year following the Commencement Date. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to terminate Tenant, except as specifically set forth in this Lease Lease.
7.2 Tenant shall, at all times during the Term, keep the Premises in good condition and repair excepting damage by delivering fire, or other casualty, and in compliance, with all applicable governmental laws, ordinances and regulations, promptly complying with all governmental orders and directives for the correction, prevention and abatement of any violations or nuisances in or upon, or connected with, the Premises, all at Tenant’s sole expense. Notwithstanding anything to the contrary contained in this Lease, Landlord, not Tenant, shall, at its sole expense, be responsible for making any structural changes to the Premises or the Building in order to comply with any governmental laws, regulations or ordinances which Landlord has received written notice thereof of unless such compliance is required (a) in connection with any alterations performed by or at the request of Tenant following the Commencement Date, or (b) as a result of Tenant’s specific manner of use or occupancy of the Premises. Landlord further represents, warrants, covenants and agrees that upon Landlord’s delivery of the Premises to Tenant the non-terminating party within thirty Premises shall comply with all applicable governmental laws, ordinances and regulations, including, without limitation, the ADA.
7.3 Notwithstanding the terms and provisions of this Article 7, if, for more than three (303) consecutive business days after Landlord receives following written notice from its mortgagee Tenant to Landlord, Landlord shall fail to commence and diligently pursue to completion the making of any repairs or the performance of any maintenance required of Landlord under this Lease, and the making of such election. Landlord repairs or the performance of such maintenance is within Landlord’s reasonable control (subject in all cases to delays caused by Force Majeure), and as a result of such failure (a) Tenant shall not be liable reasonably able to use and occupy, or to have access to, the Premises, or a material portion of the Premises, as the case may be, for the normal conduct of Tenant’s business operations without extraordinary and unreasonable measures being required to be taken by Tenant in order to do so, and (b) Tenant does not use or occupy the same during said period, then the obligation of Tenant to pay Annual Rent and additional rent hereunder shall be abated in proportion to the portion of the Premises that Tenant is unable to use as a result of such failure until the date immediately following the day on which Landlord has commenced the making of such repairs or the performance of such maintenance (Landlord agreeing that it shall diligently pursue the making of such repairs and the performance of such maintenance until completion).
7.4 Except as expressly provided in this Lease, there shall be no abatement of rent and no liability of Landlord by reason of any inconvenience or annoyance to Tenant or injury to or interference with Tenant’s business arising from the business making of Tenant resulting any repairs, alterations or improvements in or to any way from such damage or destruction portion of the Building or the disregard of the repair thereof.Premises or to fixtures, appurtenances and equipment in the
Appears in 2 contracts
Repair. 7.1 Prior to the Commencement Date, Landlord shall carry out, at its sole cost and without any right of reimbursement from Tenant under Section 4.1 hereof, all those repairs, replacements, and refurbishments identified in Schedule 7.1 of Exhibit B hereto other than item 1(e). Within thirty (30) days of the Commencement Date, Tenant may deliver to Landlord a punchlist of its in Schedule 7.1 of Exhibit B not completed, and Landlord agrees to proceed with due diligence to perform its obligations regarding such items. Following the Lease Commencement Date, Landlord shall permit Tenant to participate in the repair, replacement and refurbishment process, which shall include inviting Tenant to attend planning and construction meetings and permitting Tenant to have a representative at the job site. Landlord agrees, at its sole cost and without any right of reimbursement from Tenant under Section 4.1 hereof to install in the Building a new building HVAC control unit consistent with item 1(e) of Schedule 7.1 of Exhibit B. Landlord shall use commercially reasonable efforts to give commence the installation in late December 2005, to diligently pursue the same to completion, and to avoid disruption to Tenant’s business. Landlord further agrees, at its sole cost and expense and without any right of reimbursement from Tenant written notice of its decisionsunder Section 4.1 hereof, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred install in the last year of Building a new HVAC unit for the Term sole use and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession benefit of the Premises, comparable to the 90-ton unit existing in the Building as of the Commencement Date, and which will provide up to eight (8) air changes per hour. Landlord shall use commercially reasonable wear efforts to commence the installation of the unit in the first quarter of calendar year 2007, to diligently pursue the same completion, and tear excepted and Landlord will to avoid disruption to Tenants business. The costs of these replacements shall not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and included in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then tenant improvement allowance set forth in Exhibit B.
7.2 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises, except as specified in Exhibit B if attached to this Lease and except that Landlord shall repair, maintain, and replace as needed the structural portions of the root foundation and walls of the Building. By taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the damagecondition in which Landlord is obligated to deliver them, but rather either party shall except as set forth in the punch list to be entitled delivered pursuant to terminate Section 21 and except as provided in Section 7.1. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, except as specifically set forth in this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such electionLease. Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.3 Subject to Section 7.1, Tenant or injury to shall at its own cost and expense keep and maintain all parts of the business Premises and such portion of the Building and improvements as are within the exclusive control of Tenant resulting in good condition, promptly making all necessary repairs and replacements, whether ordinary or extraordinary, with materials and workmanship of the same character, kind and quality as the original (including but not limited to, repair and replacement of all fixtures installed by Tenant, water heaters serving the Premises, windows, glass and plate glass, doors, exterior stairs, skylights, any special office entries, interior walls and finish work, floors and floor coverings, heating and air conditioning systems serving the Premises, electrical systems and fixtures, sprinkler systems, dock boards, truck doors, dock bumpers, plumbing work and fixtures, and performance of regular removal of trash and debris). Tenant as part of its obligations hereunder shall keep the Premises in a clean and sanitary condition. Tenant will, as far as possible keep all such parts of the Premises from deterioration due to ordinary wear and from falling temporarily out of repair, and upon termination of this Lease in any way from such Tenant will yield up the Premises to Landlord in good condition and repair, loss by fire or other casualty excepted (but not excepting any damage or destruction to glass). Tenant shall, at its own cost and expense, repair any damage to the Premises or the disregard Building resulting from and/or caused in whole or in part by the negligence or misconduct of Tenant, its agents, employees, contactors, invitees, or any other person entering upon the Premises as a result of Tenant’s business activities or caused by Tenant’s default hereunder.
7.4 Except as provided in Article 22, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the making of any repairs, alterations or improvements in or to any portion of the repair thereofBuilding or the Premises or to fixtures, appurtenances and equipment in the Building. Except to the extent, if any, prohibited by law, Tenant waives the right to make repairs at Landlord’s expense under any law, statute or ordinance now or hereafter in effect.
7.5 Tenant shall enter into a regularly scheduled preventive maintenance/service contract with a maintenance contractor approved by Landlord for servicing all heating and air conditioning systems and equipment serving the Premises, including the fume exhaust system and including systems and equipment which serve both the Premises and other portions of the Building (and a copy of the contract shall be furnished to Landlord). The service contract must include all services suggested by the equipment manufacturer in the operation/maintenance manual and must become effective within thirty (30) days of the date Tenant takes possession of the Premises. The service contact shall provide that Landlord shall pay directly to the maintenance contractor that portion of the cost of the contract services attributable to portions of the Building which are not the Premises and that Tenant shall pay directly to the maintenance contractor the balance of the cost of the contract services. Should Tenant fail to enter into the maintenance contract in accordance with this section, Landlord may, upon notice to Tenant, enter into such a maintenance/ service contract on behalf of Tenant or perform the work and in either case, charge Tenant its share of the cost thereof along with a reasonable amount for Landlord’s overhead.
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Samples: Early Entry Agreement (Alder Biopharmaceuticals Inc), Early Entry Agreement (Alder Biopharmaceuticals Inc)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises, except as specified in Exhibit B if attached to this Lease and except that Landlord shall at its sole cost and expense (except as included in Expenses) repair and maintain the structural portions of the roof, foundation and walls of the Building. Landlord represents that, as of the Commencement Date, the Premises are in good order, condition and repair. By taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the damagecondition in which Landlord is obligated to deliver them, but rather either party shall except as set forth in the punch list to be entitled delivered pursuant to terminate Section 2.1. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, except as specifically set forth in this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such electionLease. Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant. Landlord hereby agrees to use commercially reasonable efforts to pursue any warranty claims under warranties or service contracts.
7.2 Tenant or injury to shall at its own cost and expense keep and maintain all parts of the business Premises and such portion of the Building and improvements as are within the exclusive control of Tenant resulting in good condition, normal wear and tear and casualty and condemnation damage excluded, promptly making all necessary repairs and replacements, whether ordinary or extraordinary, with materials and workmanship of the same character, kind and quality as the original (including, but not limited to, repair and replacement of all fixtures installed by Tenant, water heaters exclusively serving the Premises, windows, glass and plate glass, doors, skylights, any special office entries, interior walls and finish work, floors and floor coverings, heating and air conditioning systems serving the Premises, electrical systems and fixtures, sprinkler systems, dock boards, truck doors, dock bumpers, plumbing work and fixtures, and performance of regular removal of trash and debris). Tenant as part of its obligations hereunder shall keep the Premises in a clean and sanitary condition. Tenant will, as far as possible keep all such parts of the Premises from deterioration due to ordinary wear and from falling temporarily out of repair, and upon termination of this Lease in any way from such Tenant will yield up the Premises to Landlord in good condition and repair, loss by fire or other casualty excepted (but not excepting any damage or destruction to glass). Tenant shall, at its own cost and expense, repair any damage to the Premises or the disregard Building resulting from and/or caused in whole or in part by the negligence or misconduct of Tenant, its agents, employees, contractors, invitees, or any other person entering upon the Premises as a result of Tenant’s business activities or caused by Tenant’s default hereunder.
7.3 Except as expressly provided in this Lease, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the making of any repairs, alterations or improvements in or to any portion of the Building or the Premises or to fixtures, appurtenances and equipment in the Building. Except to the extent, if any, prohibited by law, Tenant waives the right to make repairs at Landlord’s expense under any law, statute or ordinance now or hereafter in effect.
7.4 Tenant shall, at its own cost and expense, enter into a regularly scheduled preventive maintenance/service contract with a maintenance contractor approved by Landlord for servicing all heating and air conditioning systems and equipment serving the Premises (and a copy thereof shall be furnished to Landlord). The service contract must include all services suggested by the equipment manufacturer in the operation/maintenance manual and must become effective within thirty (30) days of the date Tenant takes possession of the Premises. Should Tenant fail to do so, Landlord may, upon notice to Tenant enter into such a maintenance/ service contract on behalf of Tenant or perform the work and in either case, charge Tenant the cost thereof along with a reasonable amount for Landlord’s overhead.
7.5 If Landlord fails to maintain, repair thereofor replace anything for which Landlord is responsible under this Lease, Tenant may, after thirty (30) days’ written notice to Landlord Tenant of the need for the same, cure the default and Landlord shall reimburse Tenant for the reasonable cost thereof within thirty (30) days of Tenant’s written demand therefor, provided, however, if said maintenance, repair or replacement will reasonably require a period of longer than thirty (30) days to complete, then Tenant shall not have such cure right so long as Landlord is proceeding with all due diligence to complete such maintenance, repair or replacement), up to a maximum of ninety (90) days after Tenant’s initial written notice to Landlord. All such repairs performed by Tenant shall be performed in a good workmanlike manner by qualified individuals or contractors.
7.6 Landlord shall furnish to Tenant water and electrical at those points of supply provided for general use of tenants of the Building Landlord shall maintain the common areas of the Building in good order and condition. Without limiting the generality of the foregoing, Landlord shall maintain in good condition, (i) the Building’s utility systems to the point of connection to the Premises, (ii) exterior windows, (iii) parking facilities, and (iv) other exterior areas of the Building, including driveways, alleys, planting areas and grounds surrounding the Building, utility lines to the point of connection to the Premises, and all other items normally associated with the foregoing, consistent with other similar buildings in the same rental market.
Appears in 2 contracts
Samples: Lease Agreement (Reata Pharmaceuticals Inc), Lease (Reata Pharmaceuticals Inc)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60a) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option Premises (as defined in Exhibit C attached hereto), both the Landlord and Tenant other than Tenant's Property) shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises be damaged by fire or other portion of the Project casualty (and if this Lease shall not be terminated as provided herein), promptly following the giving of notice thereof by Tenant to Landlord, the damage to the Base Building relating to the Premises shall, following completion of Landlord's insurance adjustment, be diligently repaired at the expense of Landlord to substantially the condition prior to the damage, and the damage to the Alterations (but not to Tenant's Property) shall, upon receipt of insurance proceeds and other amounts from Tenant relating thereto, be diligently repaired by Landlord to the condition of the Premises prior to such casualty, provided such obligation to repair the Alterations shall be limited to the extent of the insurance proceeds and other amounts received by Landlord from Tenant or destruction has occurred its insurance carrier.
(b) Upon any damage to the Premises by fire or other casualty, the proceeds of insurance policies providing coverage for the Existing Leasehold Improvements, Tenant's Distribution Systems and Alterations shall be paid to Landlord solely for the purpose of satisfying Landlord's repair obligation set out in Section 12.1 or for distribution after a termination of this Lease in the last year manner provided in this subsection. Concurrently with the collection of any insurance proceeds attributable to the damage to the Existing Leasehold Improvements, Tenant's Distribution Systems and/or Alterations, Tenant shall pay to Landlord (i) the amount of any deductible under the policy insuring the Existing Leasehold Improvements, Tenant's Distribution Systems and/or Alterations, and (ii) the amount, if any, by which the cost of repairing and restoring the Existing Leasehold Improvements, Tenant's Distribution Systems and/or Alterations as estimated by a reputable contractor designated by Landlord exceeds the available insurance proceeds therefor. (The sum of the Term amounts described in clauses (i) and neither (ii) of the preceding sentence and the available insurance proceeds are referred to as the "Total Restoration Costs"). Notwithstanding any language to the contrary contained in this Section 12.1, in the event that this Lease is terminated by either Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject pursuant to the provisions of this Article 12, then (i) if Landlord shall have received the proceeds of Tenant's policies in connection with the repair and restoration of the Existing Leasehold Improvements, Tenant's Distribution Systems and/or Alterations, Landlord shall retain such proceeds, and (ii) if Tenant shall have received the proceeds of Tenant's policies in connection with the repair and restoration of the Existing Leasehold Improvements, Tenant's Distribution Systems and/or Alterations, Tenant shall pay such proceeds to Landlord. The provisions of the immediate preceding sentence of this Section 7.2 12.1 shall survive any termination of this Lease. Should .
(c) Notwithstanding any other provision herein to the contrary, in the period after a casualty and during any repair or restoration of the Building or the Premises, regardless of whether Tenant is able to use the Premises for the operation of its business, Tenant shall be responsible for payment of all Rent due under this Lease including without limitation Tenant's obligation to pay to Landlord Base Rent, Escalation Rent and utility costs as provided herein.
(d) It is expressly understood that if Landlord shall be prevented from substantially completing the repairs not due to any acts of Tenant, its agents, servants, employees or contractors, then such repairs shall be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of deemed substantially complete on the date of damage or destruction) and any other sums due and owing by when the repairs would have been substantially completed but for such delay. Any additional costs to Landlord to Tenant (less complete any sums then due and owing Landlord repairs occasioned by Tenant) and any remaining sums due and owing such delay shall be paid by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereofdemand, as Additional Rent.
Appears in 2 contracts
Samples: Office Lease (Tufin Software Technologies Ltd.), Office Lease (Tufin Software Technologies Ltd.)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises, except as specified in Exhibit B if attached to this Lease and except that Landlord shall repair and maintain the damagestructural portions of the Building, but rather either party including the basic plumbing, air conditioning, heating and electrical systems installed or furnished by Landlord. However, notwithstanding the foregoing, Landlord agrees that the base Building, electrical, heating, ventilation and air conditioning and plumbing systems located in the Premises shall be entitled in good working order as of the date Landlord delivers possession of the Premises to terminate this Lease by delivering written notice thereof Tenant. Except to the non-terminating party extent caused by the acts or omissions of Tenant or any Tenant Entities or by any alterations or improvements performed by or on behalf of Tenant, if such systems are not in good working order as of the date possession of the Premises is delivered to Tenant and Tenant provides Landlord with notice of the same within thirty (30) days after following the date Landlord receives notice from its mortgagee delivers possession of such electionthe Premises to Tenant, Landlord shall be responsible for repairing or restoring the same. Subject to the foregoing, by taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the condition in which Landlord is obligated to deliver them, except as set forth in the punch list to be delivered pursuant to Section 2.1. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, except as specifically set forth in this Lease.
7.2 Tenant shall, at all times during the Term, keep the Premises in good condition and repair excepting damage by fire, or other casualty, and in compliance with all applicable governmental laws, ordinances and regulations, promptly complying with all governmental orders and directives for the correction, prevention and abatement of any violations or nuisances in or upon, or connected with, the Premises, all at Tenant’s sole expense.
7.3 Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to Tenant perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.4 Except as provided in Article 22, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the business making of Tenant resulting any repairs, alterations or improvements in or to any way from such damage or destruction portion of the Building or the disregard Premises or to fixtures, appurtenances and equipment in the Building. Tenant hereby waives any and all rights under and benefits of subsection 1 of Section 1932 and Sections 1941 and 1942 of the repair thereofCalifornia Civil Code, or any similar or successor Regulations or other laws now or hereinafter in effect.
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Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [(1] ) year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord has elected to repair and reconstruct the Premises or other portion of the Project to the extent stated above, the Term will be extended for a time equal to the period from the occurrence of such damage to the completion of such repair and reconstruction. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore restore, or rebuild the Premises or other portion of the Project to approximately substantially the same condition as existed at the time Tenant entered into possession of the PremisesPremises (except for any work paid for by Tenant), reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant WorkTenant’s leasehold improvements. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof.
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Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 6.3 within sixty (60) days after any such damage or destruction. If the Term Landlord elects or is obligated to repair or restore any portion of the Lease is in its last year Premises, Landlord shall notify Tenant of the Term when estimated time that repairs and/or restoration of the damage or destruction occurs Premises and Tenant has not exercised its Renewal Option Building are to take and in the event that such repairs and/or restoration are anticipated to take more than two hundred forty (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60240) days after the date of any the casualty, then Tenant may terminate this Lease within fifteen (15) days after such damage or destruction notice by Landlord to Tenant. If Landlord has elected or is obligated to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected does not elect to terminate the Lease)this Lease as provided above, this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] yeartwo hundred forty (240) days), subject to the provisions of Section 7.2 6.2 of this Lease. Should the repairs not be completed within that period, both Landlord and then Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord has elected or is obligated to repair and reconstruct the Premises to the extent stated above, the Term will be extended for a time equal to the period from the occurrence of such damage to the completion of such repair and reconstruction. If Landlord elects or is obligated to rebuild the Premises or other portion of the ProjectPremises, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s 's Property or Tenant WorkTenant's leasehold improvements. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect or is obligated to repair and restore the Premises or other portion of the Project pursuant to this Section 7.36.3, in no event shall Landlord be required to expend under this Article VII VI any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a6.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereofthereof except to the extent caused by Landlord's negligence or misconduct.
Appears in 1 contract
Repair. To repair and keep the Premises in good and substantial repair and condition (except in respect of damage by risks insured under Clause 12.2 (Insure ) unless the insurance money is irrecoverable by reason of any act or default of the Leaseholder). Decoration As often as is reasonably necessary and in the last month of the Term in a proper and workmanlike manner (and in the last month of the Term in colours approved by the Landlord) to paint, paper, treat and generally decorate in a style appropriate to property of a like character all the inside of the Premises previously or usually so painted, papered, treated and decorated. Provide floor coverings To provide carpets or such other suitable floor coverings to the floors of the Premises. Repair damage to Common Parts In respect of any damage or disrepair to the Common Parts caused or contributed to by any act, neglect or default of the Leaseholder or the Leaseholder’s family, servants or licensees or by any other person under the control of the Leaseholder, at the option of the Landlord, the Leaseholder will on demand indemnify the Landlord shall use reasonable efforts to give Tenant written notice in respect of its decisionsall costs, estimates or elections under this Section 7.3 within sixty (60) days after any charges and expenses incurred by the Landlord in repairing, making good, renewing and/or reinstating such damage or destructiondisrepair. If Not to alter Not to: make any alterations or additions to the exterior of the Premises; make any structural alterations or structural additions to the interior of the Premises; erect any new buildings on the Premises; in any way interfere with the outside of the Building; or remove any of the Landlord’s fixtures from the Premises. Not to make any alteration or addition of a non-structural nature to the interior of the Premises without the previous written consent of the Landlord (such consent not to be unreasonably withheld). Comply with requirements of public authorities To execute and do at the expense of the Leaseholder all works and things as may at any time during the Term be directed or required by any national or local or other public authority to be executed or done upon or in respect of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of provided that the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord Leaseholder shall not be liable for by virtue of this Clause 10.9 (Comply with requirements of public authorities ) to execute or do any inconvenience works which fall within the scope of Clause 12.3 (Repair redecorate renew structure ). Provide copies of notices Promptly to serve on the Landlord a copy of any notice, order or annoyance to Tenant or injury proposal relating to the business Premises and served on the Leaseholder by any national, local or other public authority. Expenses of Tenant resulting the Landlord To pay all costs, charges and expenses (including solicitors’ costs and surveyors’ fees) reasonably incurred by the Landlord: for the purpose of or incidental to the preparation and service of a notice under section 146 or section 147 of the Law of Property Act 1925 even if forfeiture is avoided otherwise than by relief by the court; or otherwise incurred by the Landlord in respect of any way breach of covenant by the Leaseholder under this Lease. Obtain consents To obtain all licences, permissions and consents and do all works and things and pay all expenses required or imposed by any existing or future legislation in respect of any works carried out by the Leaseholder on the Premises or any part of the Premises or in respect of any use of the Premises during the Term. Xxxxxxxx’s right of inspection and right of repair To permit the Landlord and its employees or agents at reasonable times to enter the Premises and examine their condition and also to take a schedule of fixtures and fittings in the Premises. If any breach of covenant, defects, disrepair, removal of fixtures and fittings or unauthorised alterations or additions are found on inspection for which the Leaseholder is liable, then, on notice from such damage or destruction the Landlord, to execute to the reasonable satisfaction of the Landlord or the disregard Landlord’s surveyor all repairs, works, replacements or removals required within three months (or sooner if necessary) after receipt of notice. If the repair thereofLeaseholder fails to comply with a notice under Clause 10.13.2, the Landlord may itself or by its workpeople or agents enter the Premises and execute the repairs, works, replacements or removals.
Appears in 1 contract
Samples: Shared Ownership Lease
Repair. Landlord shall use reasonable efforts to give Tenant written ------ notice of its decisions, estimates or elections under this Section 7.3 within sixty thirty (6030) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project within one hundred eighty (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease)180) days, this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [(1] ) year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work's personal property. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof, except for the grossly negligent acts or omissions of Landlord, its agents, contractors or employees.
Appears in 1 contract
Samples: Lease Agreement (Naviant Inc)
Repair. (a) The Tenant shall at all times at its sole cost and expense keep or cause to be kept in good and substantial repair, order and condition, the whole of the Leased Premises, including, without limitation, all leasehold improvements, equipment, trade fixtures, fixtures and other facilities (including, without limitation, all wiring, piping, lighting and plumbing fixtures, operating equipment, sprinkler and heating, ventilation, and air conditioning systems) located on, in, under, above, or which directly serve the Leased Premises, and at the expiry or sooner termination of this Lease, the Tenant will peaceably surrender the Leased Premises in good and substantial repair and condition, reasonable wear and tear excepted. During the Term of this Lease the Tenant will complete and effect all necessary replacements, repairs (excepting structural repairs), and maintenance in relation to the Leased Premises no matter the cause or reason giving rise to the need to complete repairs, negligence by the Landlord shall use or its agents excepted. The Tenant will permit the Landlord and its agents or employees at any time, and on reasonable efforts notice, to enter the Leased Premises for purposes of repair, renovation, or maintenance, which are the responsibility of the Landlord or can be completed by the Landlord, at its option, pursuant to the terms of this Lease.
(b) If the Landlord determines, acting reasonably, that the Tenant is not adequately maintaining the Leased Premises in accordance with the provision set-out above, then the Landlord may give the Tenant written notice of its decisionsintention to attend to such maintenance or repairs as necessary, estimates and upon completion of such maintenance or elections under this Section 7.3 within sixty repairs, the Tenant shall pay the Landlord’s cost incurred plus Fifteen percent (6015%) days of the Landlord’s costs for overhead and supervision, all as Additional Rent.
(c) All leasehold improvements when installed, whether installed before or after the Tenant takes possession of the Leased Premises, in or on the Leased Premises become the property of the Landlord, without compensation to the Tenant. Notwithstanding the foregoing, and notwithstanding that the Landlord insures the leasehold improvements, the Tenant shall be exclusively responsible for the repair, replacement, operation, and maintenance of the leasehold improvements. Unless the Landlord specifically requires the Tenant to remove, the Tenant shall not remove any leasehold improvements from the Leased Premises. At the end of the Term, or any extension thereof, the Tenant will, at its expense, remove the leasehold improvements that the Landlord has specifically required the Tenant to remove. The Tenant shall make good any damage caused to the Leased Premises or the Building by such installation or removal of the leasehold improvements, and the Tenant shall restore the Leased Premises to a condition of good and substantial repair.
(d) At the end of the Term, or any renewal thereof, the Tenant will, at its expense, remove all furniture, furnishings, equipment (the “FFE”), and trade fixtures and make good any damage caused to the Leased Premises by such installation or destructionremoval, and restore the Leased Premises to a condition of good and substantial repair. If the Term of Tenant does not remove any leasehold improvements, as required by the Lease is in Landlord, or remove its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto)FFE, both the Landlord and Tenant shall have the option to terminate this Lease with written may, without liability on its part, without notice to the other party given within sixty Tenant, enter the Leased Premises, and remove such items at the Tenant’s expense, plus an administration charge of Fifteen percent (6015%) days after of such amount, to be paid as Additional Rent.
(e) At its sole cost, the date Tenant shall undertake and complete all necessary repairs or replacements required to the Leased Premises, or the Property, as a result of damage occasioned to the Leased Premises, or the Property, by virtue of any such damage break- in or destruction If Landlord has elected attempted break-in to repair and restore the Premises or other portion Leased Premises.
(f) The Tenant agrees to obtain the prior written approval of the Project (and if the damage or destruction has occurred Landlord prior to any work being completed in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Leased Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof.
Appears in 1 contract
Samples: Lease Agreement (Adven Inc.)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty thirty (6030) days after any Landlord receives a determination from its insurer of the insurance proceeds payable in connection with such damage or destruction. If the Term of the Lease ; provided that if Landlord is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option unable to terminate this Lease with written provide such notice to the other party given Tenant within sixty (60) days after of the date of any such damage or destruction for any reason, Landlord will keep Tenant apprised of the status of its evaluation of its options hereunder. If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease)Project, this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [(1] ) year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord has elected to repair and reconstruct the Premises or other portion of the Project to the extent stated above, the Term will be extended for a time equal to the period from the occurrence of such damage to the completion of such repair and reconstruction. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore restore, or rebuild the Premises or other portion of the Project to approximately substantially the same condition as existed at the time Tenant entered into possession of the PremisesPremises (except for any work paid for by Tenant), reasonable wear and tear excepted excepted, and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant WorkTenant’s leasehold improvements. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof. Upon completion of Landlord’s repairs to and restoration of the Premises, Tenant shall resume the payment to Landlord of all Rent due and payable under this Lease.
Appears in 1 contract
Repair. Landlord (a) If there shall use reasonable efforts to give Tenant written notice of its decisionsoccur a Casualty, estimates or elections under this Section 7.3 within sixty (60) days after any such damage a Condemnation that does not constitute a Major Casualty or destruction. If the Term of the Lease is in its last year of the Term when the damage a Major Condemnation or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord there shall be a Major Casualty or a Major Condemnation and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Leasenot give a Termination Notice under Section 3.1(c), then, this Lease shall nonetheless continue in full force and effecteffect and Tenant shall, at its expense, promptly rebuild, replace or repair the Premises in conformity with the requirements of Sections 2.5 and 3.4 hereof so as to restore the repairs will be made within a reasonable time thereafter Premises (not to exceed one [1] year)in the case of Condemnation, subject as nearly as practicable) to the provisions of Section 7.2 condition thereof immediately prior to such occurrence, assuming the Premises have been maintained in accordance with the requirements of this LeaseLease (or if the Premises were under construction at such time, to the condition thereof at the time of completion). Should Tenant’s obligation to rebuild shall apply even if the repairs not be completed within that periodcosts of rebuilding exceed the amount of Net Proceeds. Prior to any such rebuilding, both replacement or repair, Landlord and Tenant shall each have agree on the option estimated cost thereof (the “Restoration Cost”). In the event that Landlord and Tenant cannot so agree, Landlord and Tenant shall select a reputable independent architect who is registered or licensed as such in the State of terminating South Carolina, which such architect shall determine the Restoration Cost.
(b) If only part of the Premises is taken or condemned for a public or quasi-public use and Tenant either is not permitted or elects not to terminate this Lease pursuant to Section 3.1(c), Tenant shall restore the Building Improvements upon the Premises to a condition and size as nearly comparable as reasonably possible to the condition and size thereof immediately prior to the taking. In the event that the parties are unable to agree upon the extent of such restoration, either party may submit the issue for arbitration pursuant to the rules then obtaining of the American Arbitration Association and the determination or award rendered by written letter the arbitrator(s) shall be final, conclusive and binding upon the parties and not subject to appeal, and judgment thereon may be entered in any court of terminationcompetent jurisdiction.
(c) All of the costs of rebuilding shall be paid out of the Net Proceeds and, if the Net Proceeds are not sufficient, from Tenant’s own funds. If Any Net Proceeds remaining after completion of the repairs and rebuilding of the Premises and final payment has been made for such work shall be disbursed to Tenant, except that Landlord shall receive all excess Net Proceeds in connection with a Condemnation and all Loss Value Awards. In the event of any temporary Condemnation, this Lease is terminated as herein permittedshall remain in full force and effect and Tenant shall be entitled to the Net Proceeds, Landlord shall refund if any, allocable to Tenant any prepaid Rent (unaccrued as such temporary condemnation, except that such portion of the date Net Proceeds allocable to the time period after the expiration or termination of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord the Lease Term shall be paid to Landlord. If Landlord elects .
(d) Except in the event of a termination of this Lease pursuant to rebuild Section 3.1(c) (and without limitation upon Tenant’s obligation to pay Remaining Rent, if applicable), Tenant’s obligation to pay Rent under the Premises provisions of this Lease shall not be affected, altered or other portion reduced by any Casualty or Condemnation and Tenant’s obligation to continue to pay Base Rent and Additional Rent shall continue notwithstanding any such Condemnation or Casualty.
(e) The full amount of the ProjectNet Proceeds shall be paid to and deposited with a depository (the “Depository”) to be selected as hereinafter provided. In addition, Landlord within thirty (30) days following any Casualty, Tenant shall only be obligated to restore pay to the Depository the amount of any deductible or rebuild the Premises or other portion of the Project self-insured retention with respect to approximately the same condition as existed any insurance policies in place at the time Tenant entered into possession of the PremisesCasualty and, reasonable wear if applicable, the Additional Deposit (defined below). The Depository shall be (a) Lender or (b) a bank or trust company selected by Landlord and tear excepted approved by Tenant (so long as an Event of Default does not exist under this Lease and Landlord will is continuing) and by Lender, which approval shall not be required unreasonably withheld or delayed, which has undivided capital and surplus of Two Hundred Million Dollars ($200,000,000) or more. The Depository shall have no affirmative obligation to rebuildprosecute a determination of the amount of, repair or replace to effect the collection of, any part insurance proceeds or condemnation award or awards. Moneys received by the Depository pursuant to the provisions of this Lease shall not be commingled with the Depository’s own funds and shall be held by the Depository in trust, either separately or with other trust funds. The Depository shall place any moneys held by it into an interest bearing account; and the interest paid or received by the Depository on the moneys so held in trust shall be added to the moneys so held in trust. The Depository shall not be liable or accountable for any action taken or suffered by the Depository or for any disbursement of moneys made by the Depository in good faith in reliance on advice of legal counsel. In disbursing moneys pursuant to Section 3.2(f), the Depository may rely conclusively on the information contained in any notice given to the Depository by Tenant in accordance with the provisions of said Section 3.2(f), unless Landlord shall notify the Depository in writing within ten (10) business days after the giving of any such notice that Landlord intends to dispute such information, in which case the disputed amount shall not be disbursed but shall continue to be held by the Depository until such dispute shall have been resolved by agreement of the parties. In the event of any Event of Default by Tenant hereunder after a Casualty or Condemnation and prior to the completion of any rebuilding or restoration, remaining Net Proceeds shall be disbursed to Landlord or Lender (as directed by Landlord) to be applied as determined by Landlord (which release and application shall be without limitation upon Tenant’s restoration and rebuilding obligations).
(f) Except as otherwise agreed in writing by Landlord and, if applicable, all Lenders, the Depository shall disburse funds only in accordance with the following conditions:
(i) prior to commencement of restoration, the architects, contracts, contractors, plans and specifications for the restoration shall have been approved by Landlord within ten (10) days of Landlord’s receipt of Tenant’s Property request for such approval, which such approval shall not be unreasonably withheld, conditioned or delayed;
(ii) at the time of any disbursement, no Event of Default shall exist and be continuing and no mechanics’ or materialmen’s liens shall have been filed against any of the Premises and remain undischarged (either by filing the required bonds or satisfying the liens in full);
(iii) disbursements shall be made from time to time in an amount not exceeding the cost of the work completed since the last disbursement, upon receipt of: (A) satisfactory evidence, including architects’ certificates, of the stage of completion, the estimated total cost of completion and performance of the work to date in a good and workmanlike manner in accordance with the contracts, plans and specifications; (B) discharges of liens; (C) a satisfactory bringdown of title insurance and (D) other evidence of cost and payment reasonably requested by Landlord so that Landlord can verify that the amounts disbursed from time to time are represented by work that is completed, in place and free and clear of mechanics’ and materialmen’s lien claims;
(iv) each request for disbursement shall be accompanied by a certificate of Tenant, signed by the president, vice president or other authorized signatory of Tenant, describing the work for which payment is requested, stating the cost incurred in connection therewith, stating that Tenant Workhas not previously received payment for such work and, upon completion of the work, also stating that the work has been fully completed and complies with the applicable requirements of this Lease;
(v) Sufficient Net Proceeds remain to complete the restoration of replacement as determined by Landlord, and, if sufficient funds do not remain, Tenant shall have posted the necessary Additional Deposit (as hereinafter defined) in accordance with paragraph (g) below.
(vi) Landlord may retain all retainage amounts under construction contracts until the restoration is substantially completed;
(vii) each request by Tenant for a disbursement from Depository shall be made on not less than fifteen (15) Business Days’ prior notice to Depository and Landlord and shall be accompanied by the certificate referenced in (iv) above, including documentation reasonably evidencing satisfaction of (i) and (iii) above. Notwithstanding anything contained in this Lease Section 3.2(f) to the contrary, if Landlord shall elect in good faith desire to repair dispute the information contained in any request by Tenant for a disbursement, Landlord shall so notify Tenant and restore the Depository in writing within ten (10) Business Days after Landlord has received such notice, specifying the amount intended to be disputed and the nature of the dispute. After such ten (10) Business Day period has elapsed, if Landlord has not disputed the information contained in Tenant’s notice, the Depository shall promptly disburse to Tenant out of the Net Proceeds the amount of such requested costs and expenses. If Landlord disputes the information contained in Tenant’s notice, such dispute shall be promptly resolved by agreement of the parties and any undisputed amount shall be released to Tenant.
(g) Prior to commencement of restoration and at any time during restoration prior to any additional disbursement, if the estimated cost of restoring the Premises or other portion (taking into account the Restoration Cost and any changes to the nature and scope of construction costs agreed upon between Landlord and Tenant subsequent to the determination of the Project pursuant Restoration Cost) exceeds the amount of the Net Proceeds available for such restoration, the amount of such excess shall, upon demand by Landlord, be paid by Tenant to the Depository. Any sum so added by Tenant which remains in the Restoration Fund upon completion of restoration shall be refunded to Tenant.
(h) Notwithstanding any other provision of this Section 7.33.2, in if (i) the Restoration Cost is less than Five Hundred Thousand Dollars ($500,000.00) with respect to any one casualty or partial condemnation and (ii) no event shall Landlord be required to expend under this Article VII any amount in excess Event of Default has occurred and is continuing, then Tenant may apply for and receive the proceeds actually received Net Proceeds directly from the insurance carried by insurer or payor thereof (and Landlord pursuant shall advise such insurer or payor to Section 7.4(a) of this Leasepay over such proceeds directly to Tenant), provided that Tenant shall promptly and diligently commence and complete such Work in the event the holder of a good and workmanlike manner and shall promptly pay any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied Loss Value Award to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof.
Appears in 1 contract
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises, except as specified in Exhibit B attached to this Lease and except that Landlord shall repair and maintain the Building roof, parking and common areas, structural portions of the Building, including the basic plumbing, air conditioning, heating and electrical systems installed or furnished by Landlord. On the Commencement Date, Tenant accepts the Premises as being in good order, condition and repair and in the damagecondition in which Landlord is obligated to deliver it. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, but rather either party shall be entitled to terminate except as specifically set forth in this Lease Lease.
7.2 Tenant shall, at all times during the Term, keep the Premises in good condition and repair excepting ordinary wear and tear, damage by delivering written notice thereof to fire, and damage by other casualty, and in compliance with all applicable governmental laws, ordinances and regulations, promptly complying with all governmental orders and directives for the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee correction, prevention and abatement of such election. any violations or nuisances in or upon, or connected with, the Premises, all at Tenant’s sole expense.
7.3 Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to Tenant perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.4 Except as provided in Article 22, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the business making of Tenant resulting any repairs, alterations or improvements in or to any way from such damage or destruction portion of the Building or the disregard Premises or to fixtures, appurtenances and equipment in the Building. Landlord shall be entitled to reduce, expand alter, or reconfigure the common areas of the repair thereofBuilding without same constituting deemed constructive or actual eviction. Notwithstanding anything to the contrary in the foregoing, Tenant shall at all times have reasonable access to the Premises and the Building shall include common areas as are typical of Class A office space in the Portland, Oregon central business district. Except to the extent, if any, prohibited by law, Tenant waives the right to make repairs at Landlord’s expense under any law, statute or ordinance now or hereafter in effect.
Appears in 1 contract
Samples: Lease (Tripwire Inc)
Repair. Landlord Any work or rework on Products which fall outside the Warranty set forth above, including repairs and remanufacture or service rental return, shall use reasonable efforts be performed in accordance with this subsection (c). During the Term, Compex shall provide remanufacturing services for Bio1000 devices, but not any accessories or peripherals, that are delivered to give Tenant written notice its manufacturing plant in New Brighton, Minnesota. Such remanufacturing services shall consist of: • An electronic test of the Product; • A visual inspection of the Product; • A cleaning of the product and , if provided, its decisionscarrying case; • Labeling the Product and, estimates or elections under if provided, its carrying case with a new serial number; • Recordation of the serial number in Compex’s electronic database. Such remanufactured product shall be specifically labeled as remanufactured and shall be re-delivered to Bionicare for the charges set forth in the attached Exhibit B. Compex shall ship remanufactured Product that it has received and for which it has performed remanufacturing services in accordance with this subsection (c) to Bionicare FOB Compex’s manufacturing plan, with invoice at time of shipment for the remanufacturing costs in accordance with Exhibit B. Compex may, at its election, include in Product originally shipped to Bionicare a prepaid return mailer for Product returned for remanufacture, and to the extent a customer has used such prepaid mailer, Compex shall include the cost of postage for such prepaid mailer in the invoice to Bionicare and Bionicare shall reimburse Compex for such postage. Bionicare shall pay for such remanufactured Product in accordance with Section 6. Compex warrants remanufactured Product to the same extent as original Product as set forth in subsections (a) and subject to the limitations contained in subsection (b) of this Section 7.3 within sixty 8 but only until the expiration of three years from the initial shipment of such Product to Bionicare as a new product (60) and not the shipment as remanufactured), or until 90 days after any such damage or destruction. If the Term shipment as remanufactured product , which ever is greater, and not for a period of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days three years after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee shipment of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereofremanufactured Products.
Appears in 1 contract
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If maintain and repair the Term public portions of the Lease is in its last year building, both exterior and interior. Tenant shall, throughout the term of this lease, take good care of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, demised premises and the fixtures and appurtenances therein and at Tenant's sole cost and expense, make all nonstructural repairs will be made within a reasonable time thereafter (not thereto as and when needed to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord preserve them in good working order and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premisescondition, reasonable wear and tear excepted tear, obsolescence and Landlord will not be required to rebuilddamage from the elements, repair fire or replace any part of Tenant’s Property or Tenant Workother casualty, excepted. Notwithstanding anything contained in this Lease to the contraryforegoing, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant all damages or injury to the business demised premises or to any other part of the building, or to is fixtures, equipment and appurtenances, whether requiring structural or nonstructural repairs, caused by or resulting from carelessness, omission, neglect or improper conduct of Tenant, Tenant's servants, employees, invitees or licensees, shall be repaired promptly by Tenant at its sole cost and expense, to the satisfaction of Landlord reasonably exercised. Tenant shall also repair all damage to the building a nd the demised premises caused by the moving of Tenant's fixtures, furniture or equipment. All the aforesaid repairs shall be of quality or class equal in the original work or construction. If Tenant fails after ten days notice to proceed with due diligence to make repairs required to be made by Tenant, the same may be made by the Landlord at the expense of Tenant resulting and the expenses thereof incurred by Landlord shall be collectible as additional rent after rendition of a xxxx or statement therefor. If the demised premises be or becomes infested with vermin, Tenant shall at Tenant's expense, cause the same to be exterminated from time to time to the satisfaction of Landlord. Tenant shall give Landlord prompt notice of any defective condition in any way from plumbing, heating system or electrical lines located in, servicing or passing through the demised premises and following such notice, Landlord shall remedy the condition with due diligence but at the expense of Tenant, if repairs are necessitated by damage or destruction injury attributable to Tenant, Tenant's servants, agents, employees, invitees or licensees as aforesaid. Except as specifically provided in Article 9 or elsewhere in the lease, there shall be no allowance to the Tenant for a diminution of rental value and no liability on the part of Landlord by reason of inconvenience, annoyance or injury to business arising from Landlord, Tenant or others making or failing to make any repairs, alterations, additions or improvements in or to any portion of the building or the disregard demised premises or in and to the fixtures, appurtenances or equipment thereof. The provisions of this Article 4 with respect to the repair thereof.making of repairs shall not apply in the case of fire or other casualty which are dealt with in Article 9 hereof. Window Cleaning:
Appears in 1 contract
Samples: Lease Agreement (Alloy Online Inc)
Repair. Landlord a. Except as specifically provided in this Lease, Tenant agrees that the Premises are in good condition and repair. Tenant, at Tenant’s sole cost and expense, shall use reasonable efforts to give Tenant written notice of its decisionskeep the Premises and every part thereof in the condition received, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs ordinary wear and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and tear excepted; provided that Tenant shall have the option to terminate this Lease with written notice not be responsible for repairs to the other party given within sixty extent such repairs are (60i) days after necessitated by the date negligence or willful misconduct of Landlord or Landlord’s agents, employees or contractors, or (ii) Landlord’s obligation pursuant to Paragraph l0.b. below. Tenant waives all rights to make repairs at the expense of Landlord as provided by any such damage Legal Requirement now or destruction If hereafter in effect. It is specifically understood and agreed that, except as specifically set forth in this Lease, Landlord has elected no obligation and has made no promises to repair and restore alter, remodel, improve, repair, decorate or paint the Premises or other portion any part thereof, and that no representations respecting the condition of the Project (and if Premises or the damage or destruction has occurred in the last year of the Term and neither Building have been made by Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject Tenant.
b. Repairs to the provisions Premises necessitated because of Section 7.2 fire, earthquake, act of this LeaseGod or the elements shall be governed by Paragraph 26 below. Should Landlord shall repair the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of terminationPremises if they are damaged due to item (i) described in Paragraph l0.a. If this Lease is terminated as herein permittedabove. Further, Landlord shall refund to (1) at Landlord’s sole cost and expense, repair any defect in the construction of Tenant any prepaid Rent (unaccrued improvements that exists in the Premises as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into takes possession of the Premises, Premises and is of a nature which would not normally be discoverable by Tenant in the exercise of reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained diligence in this Lease to the contrary, if Landlord shall elect to repair and restore inspecting the Premises or other portion at the commencement of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) term of this Lease, provided Tenant give prompt notice of such matter to Landlord promptly upon discovery and no later than twelve (12) months after the Commencement Date, and (2) repair and maintain in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore good condition and repair the damagecommon areas of the Building, the structural portions of the Building and all Building systems, including plumbing, air conditioning, heating, electrical, life safety and other systems installed or furnisher by Landlord, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof excluding (i) non-Building standard lighting and electrical wiring and (ii) extraordinary quantities of electrical, plumbing, HVAC or other Building facilities or distribution thereof; provided, however, that to the non-terminating party within thirty extent repairs which Landlord is required to make pursuant to this item (302) days after are necessitated by the negligence or deliberate misconduct of Tenant or Tenant’s agents, employees or contractors, or are due to Alterations performed by or for Tenant, then Tenant shall reimburse Landlord receives notice from its mortgagee for the cost of such electionrepair to the extent Landlord is not reimbursed therefor by insurance. Landlord shall not in no event be liable for obligated to repair any inconvenience or annoyance to Tenant or injury wear and tear to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereofPremises.
Appears in 1 contract
Repair. Landlord shall use reasonable efforts At its own expense, to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term properly carry out all repairs and maintenance of the Lease is in its last year Leased Premises and of the Term when the damage all machinery and equipment situate therein or destruction occurs thereon (both inside and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached heretooutside and including any stairs or platforms leading thereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore maintain the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Leased Premises, only excepting reasonable wear and tear excepted (not inconsistent with the maintenance of similar industrial premises having regard for the then age of the said building). If the Tenant, after written notice and failure to cure within the times periods set forth herein, refuses or neglects to carry out any maintenance and repairs properly as required pursuant to this Lease, and to the reasonable satisfaction of the Landlord, the Landlord will may, but shall not be required obliged to, perform such maintenance and repairs without being liable for loss or damage that may result to rebuild, repair or replace any part of the Tenant’s Property merchandise, fixtures or Tenant Work. Notwithstanding anything contained in this Lease other property or to the contraryTenant’s business by reason thereof, if and upon completion thereof, the Tenant shall pay to the Landlord shall elect on demand, both the landlord’s costs relating to repair any such maintenance, repairs and restore replacements plus a sum equal to Fifteen percent (15%) thereof representing the Premises or other portion landlord’s overhead. The Tenant agrees that the making of any maintenance and repairs by the Project landlord pursuant to this Section 7.3is not a re-entry or a breach of any covenant for quiet enjoyment contained in the lease. If the replacement of any nonstructural item is required, in no event shall Landlord be required the landlord will pay for said replacement and xxxx back to expend under this Article VII any amount in excess the Tenant the Tenant’s share as part of the proceeds actually received from Additional Rent. The Tenant’s share will be calculated as follows; the insurance carried economic life of the capital item being replaced shall be determined in accordance with recognized industry standards and shall be divided by Landlord pursuant the full term of the lease and renewals if applicable, to Section 7.4(a) derive a percentage, which shall represent the Tenant’s reasonable use of this Leasesaid capital item. The Tenant shall be responsible for paying the Tenant’s share in equal monthly installments amortized over the remaining term of the lease. For example, and if a capital item with a 15 year economic life requires replacement at any time during the first 3 year term of the lease the Tenant’s share shall be 20% (ie ... 3/15). If a capital item with a 15 year economic life requires replacement at any in the event fourth year, (second term, first year), the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to LandlordTenant’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party share shall be entitled to terminate this Lease 40% (ie ... 6/15). The Tenant shall re-key the leased Premises at its own expense and provide Landlord with a master key. The Tenant may re-use the proprietary security system that was left in place by delivering written notice thereof a previous Tenant, at the Tenant’s election. The Landlord makes no representations as to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee utility or state of such election. Landlord shall not be liable repair for any inconvenience or annoyance to Tenant or injury to either the business of Tenant resulting in any way from such damage or destruction existing keyed door systems and or the disregard existing security system. The Tenant may remove the existing keyed door system and or the existing security system without the requirement to replace the same at the expiry or other termination of the repair thereofLease.
Appears in 1 contract
Samples: Loan Agreement (Hydrogenics Corp)
Repair. Landlord shall use reasonable efforts to give Tenant ------ written notice of its decisions, estimates or elections under this Section 7.3 6.3 ----------- within sixty forty five (6045) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease)Project, this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter two hundred ten (not to exceed one [1] year), 210) days subject to the provisions of Section 7.2 6.2 of ----------- this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord has elected to repair and reconstruct the Premises or other portion of the Project to the extent stated above, the Term will be extended for a time equal to the period from the occurrence of such damage to the completion of such repair and reconstruction with Rent during such extended period being the same as the last rent paid by Tenant immediately prior to such extended period. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s 's Property or Tenant WorkTenant's leasehold improvements. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.36.3, in no event shall Landlord ----------- be required to expend under this Article VII any amount in excess of the ----------- proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a6.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience -------------- or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease)Premises, this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [(1] ) year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of terminationtermination delivered within thirty (30) days of the expiration of such repair period. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord has elected to repair and reconstruct the Premises to the extent stated above, the Initial Term will be extended for a time equal to the period from the occurrence of such damage to the completion of such repair and reconstruction. If Landlord elects to rebuild the Premises or other portion of the ProjectPremises, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s 's Property or Tenant WorkTenant's leasehold improvements. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof.
Appears in 1 contract
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises, except as specified in Exhibit B if attached to this Lease and except that Landlord shall repair and maintain all structural portions of the damageBuilding and the Building envelope, but rather either party including the roof, foundation walls, water heaters, skylights, windows, glass, plate glass, and Life Safety Systems, as well as all outdoor areas and specifically any terrace and deck areas. In addition, Landlord shall also maintain the common areas of the Building and the Building systems generally servicing the common areas of the Building (including, without limitation, any heating, ventilating and air conditioning units); provided, however, that the costs and expenses associated with the foregoing shall be entitled to terminate this Lease by delivering written notice thereof a part of Expenses and subject to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee terms and conditions of such electionArticle 4 of this Lease. Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.2 Tenant shall periodically inspect the Premises to identify any conditions that are in need of maintenance or injury repair. Tenant shall provide Landlord with notice of any such conditions and Landlord shall make any such repairs within a reasonable period of time following the receipt of such notice. All sums paid by Landlord and all expenses incurred by it in connection with such repairs, which are not expressly obligations of Landlord, as provided herein, shall be payable to Landlord by Tenant within ten (10) business days of Landlord’s demand. Tenant as part of its obligations hereunder shall keep the business Premises in a clean and sanitary condition. Tenant will, use commercially reasonable efforts to keep all such parts of Tenant resulting the Premises in such a manner to minimize deterioration due to ordinary wear and from falling temporarily out of repair, and upon termination of this Lease in any way from Tenant will yield up the Premises to Landlord in good condition and repair, ordinary wear and tear and loss by fire or other casualty excepted (but not excepting any damage to glass). Notwithstanding anything to the contrary contained herein and except to the extent caused by Tenant or any of the Tenant Entities’ acts and/or omissions or as a result of casualty, to the extent Landlord is made aware and Landlord determines in its reasonable discretion that expenditures for the full replacement of any of the heating, ventilating and air conditioning units solely servicing the Premises (as opposed to the replacement of components or repair thereof) must be made, Landlord shall cause such work to be completed at its sole cost and expense, which cost shall not be included in Expenses. However, except to the extent caused by Tenant or any of the Tenant Entities’ acts and/or omissions, to the extent Landlord is made aware and Landlord determines in its reasonable discretion that expenditures to repair or replace components of any of the heating, ventilating and air conditioning units solely servicing the Premises (as opposed to the full replacement thereof) must be made, Landlord shall cause such work to be completed and all such costs and expenses incurred by Landlord in connection with such repairs or replacement of components shall be payable to Landlord by Tenant within ten (10) business days of Landlord’s demand, provided that except to the extent caused by the acts or omissions of Tenant or any Tenant Entity, Tenant shall not be required to pay more than Three Thousand Dollars ($3000.00) per Lease Year for such repair or replacement of components (excluding the costs associated with the maintenance/service contract described in Section 7.4 below). Tenant shall, at its own cost and expense, repair any damage or destruction to the Premises or the disregard Building resulting from and/or caused in whole or in part by the negligence or misconduct of Tenant, its agents, employees, contractors, invitees, or any other person entering upon the Premises as a result of Tenant’s business activities or caused by Tenant’s default hereunder.
7.3 Except as provided in Article 22, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the making of any repairs, alterations or improvements in or to any portion of the repair thereofBuilding or the Premises or to fixtures, appurtenances and equipment in the Building. Tenant hereby waives any and all rights under and benefits of subsection 1 of Section 1932 and Sections 1941 and 1942 of the California Civil Code, or any similar or successor Regulations or other laws now or hereinafter in effect.
7.4 Landlord shall, on behalf of Tenant, enter into a regularly scheduled preventive maintenance/service contract with a maintenance contractor for servicing all heating and air conditioning systems and equipment serving the Premises. All costs and expenses paid by Landlord in connection therewith shall be payable to Landlord by Tenant within ten (10) days of Landlord’s demand.
Appears in 1 contract
Samples: Lease Agreement (Verisity LTD)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises, except as specified in Exhibit B if attached to this Lease and except that Landlord shall repair and maintain, in good order and repair, the structural portions of the roof, foundation and walls of the Building. Landlord shall additionally repair and maintain the parking, driveways, and sidewalk areas which comprise a part of the Building. The cost of Landlord's repair and maintenance obligations under this Section 7.1 will be included as Expenses under Article 4 of this Lease. Landlord agrees that the mechanical, electrical, plumbing, and heating, ventilating, and air conditioning systems serving the Premises shall be in good working condition on the date that Landlord delivers possession of the Premises to Tenant. By taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the damagecondition in which Landlord is obligated to deliver them, but rather either party shall except as set forth in the punch list to be entitled delivered pursuant to terminate Section 2.
1. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, except as specifically set forth in this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such electionLease. Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.2 Tenant or injury to shall at its own cost and expense keep and maintain all parts of the business Premises and such portion of the Building and improvements as are within the exclusive control of Tenant resulting in good condition, promptly making all necessary repairs and replacements, whether ordinary or extraordinary, with materials and workmanship of the same character, kind and quality as the original (including, but not limited to, repair and replacement of all fixtures installed by Tenant, water heaters serving the Premises, windows, glass and plate glass, doors, exterior stairs, skylights, any special office entries, interior walls and finish work, floors and floor coverings, heating and air conditioning systems serving the Premises, electrical systems and fixtures, sprinkler systems, dock boards, truck doors, dock bumpers, plumbing work and fixtures, and performance of regular removal of trash and debris). Tenant as part of its obligations hereunder shall keep the Premises in a clean and sanitary condition. Tenant will, as far as possible keep all such parts of the Premises from deterioration due to ordinary wear and from falling temporarily out of repair, and upon termination of this Lease in any way from such Tenant will yield up the Premises to Landlord in good condition and repair, loss by fire or other casualty excepted (but not excepting any damage or destruction to glass). Tenant shall, at its own cost and expense, repair any damage to the Premises or the disregard Building resulting from and/or caused in whole or in part by the negligence or misconduct of Tenant, its agents, employees, contractors, invitees, or any other person entering upon the Premises as a result of Tenant's business activities or caused by Tenant's default hereunder.
7.3 Except as provided in Article 22 and except to the extent caused by Landlord's gross negligence or willful misconduct, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant's business arising from the making of any repairs, alterations or improvements in or to any portion of the Building or the Premises or to fixtures, appurtenances and equipment in the Building. Except to the extent, if any, prohibited by law, Tenant waives the right to make repairs at Landlord's expense under any law, statute or ordinance now or hereafter in effect.
7.4 Tenant shall, at its own cost and expense, enter into a regularly scheduled preventive maintenance/ service contract with a maintenance contractor approved by Landlord for servicing all heating and air conditioning systems and equipment serving the Premises (and a copy thereof shall be furnished to Landlord). The service contract must include all services suggested by the equipment manufacturer in the operation/maintenance manual and must become effective within thirty (30) days of the date Tenant takes possession of the Premises. Should Tenant fail to do so, Landlord may, upon notice to Tenant, enter into such a maintenance/service contract on behalf of Tenant or perform the work and in either case, charge Tenant the cost thereof along with a reasonable amount for Landlord's overhead.
7.5 Landlord shall coordinate any repairs and other maintenance of any railroad tracks serving the Building and, if Tenant uses such rail tracks, Tenant shall reimburse Landlord or the railroad company from time to time upon demand, as additional rent, for its share of the costs of such repair thereofand maintenance and for any other sums specified in any agreement to which Landlord or Tenant is a party respecting such tracks, such costs to be borne proportionately by all tenants in the Building using such rail tracks, based upon the actual number of rail cars shipped and received by such tenant during each calendar year during the Term.
Appears in 1 contract
Samples: Lease (Lmi Aerospace Inc)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore ------ the Leased Premises to the extent stated in Section 22.1 of this Lease then the ------------ repair and restoration shall be done under the Landlord's control, provided that any repair or other portion restoration of the Project (Leased Premises shall be such that the Leased Premises are rebuilt in its like condition, size and if structure as before the damage or destruction has occurred in the last year of the Term repair and neither Landlord or Tenant have elected to terminate the Lease)restoration. In such event, this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] yearsix (6) months from the date of receipt of insurance proceeds by the Landlord), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that such period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of terminationwill terminate. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect has elected to repair and restore reconstruct the Leased Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee extent stated above, the Term will be extended for a time equal to the period of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereofand reconstruction.
Appears in 1 contract
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs Borrower Mortgagor properly and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected timely elects to repair and restore the Premises Property, or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected right to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not elect belongs to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project Lender pursuant to this Section 7.3and Lender elects to have Borrower Mortgagor repair the Property, Borrower Mortgagor shall cause the Improvements to be repaired as nearly as possible to their value, condition and character immediately prior to such damage, destruction or condemnation. Such repair shall be effected promptly. If this is a construction loan and the damage or condemnation occurs during any construction terms of the Loan, Borrower Mortgagor shall notify Lender if it appears that such repair may delay completion of construction beyond the completion date specified in no event the Loan Documents. Neither damage to or destruction of the improvements nor condemnation shall Landlord excuse a failure to complete the improvements on or before any required completion date unless a delay in completion shall specifically be required approved at the time in writing by Lender, which approval shall not be unreasonably withheld. Any repair shall be done under the supervision of an architect acceptable to expend Xxxxxx and pursuant to specifications approved by Lender. The proceeds shall be held by Lender for such purposes and shall from time to time be disbursed to defray the cost of such repair under such safeguards and controls as Lender reasonably requires to assure completion in accordance with the approved plans and specifications and free of liens or claims. Upon written demand, Borrower Mortgagor shall deposit with Lender any sums necessary to make up any deficiency between the actual cost of the work and the amount of the proceeds and shall provide such lien waivers and completion bonds as Lender reasonably requires. If the proceeds are to be used pursuant to this Article VII Section to repair the Property, Lender may, upon five days’ prior written notice to Borrower, do all acts which Borrower Mortgagor fails or refuses to do and which Xxxxxx determines in its reasonable discretion are necessary to accomplish that purpose, including using funds deposited by Borrower Mortgagor with Lender for any amount in purpose and advancing additional funds. All such additional funds shall constitute Obligations. If the Property is to be repaired, Lender shall return to Borrower Mortgagor any excess of the proceeds actually received from above the insurance carried by Landlord pursuant amount necessary to Section 7.4(a) complete such repairs provided that no Event of this Lease, and in Default exists or would occur upon the event the holder giving of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard passage of the repair thereoftime or both.
Appears in 1 contract
Samples: Mortgage, Assignment of Rents and Leases, Security Agreement and Fixture Financing Statement
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises except that Landlord shall repair and maintain the following, the cost of which may be included in Expenses as provided in Article 4 of this Lease: the structural portions of the roof, the roof membrane, the common areas, foundation and walls of the Building and the Building mechanical, sprinkler/life safety systems, electrical and plumbing systems servicing the project in general (not specifically servicing the Premises, the repair and maintenance of which shall be Tenant’s responsibility hereunder); provided, however, that, subject to the terms hereof, Tenant, not Landlord shall repair and maintain the heating, ventilating and air conditioning unit(s) servicing the Premises. Notwithstanding the foregoing, Landlord’s repair and maintenance obligations with respect to the following shall be at Landlord’s sole cost and expense: the foundation and the exterior walls of the Building. By taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the damagecondition in which Landlord is obligated to deliver them except as otherwise expressly stated in this Lease. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, but rather either party shall be entitled to terminate except as specifically set forth in this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such electionLease. Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant. Notwithstanding the foregoing, Landlord shall perform and construct, and Tenant shall have no responsibility to perform or construct, any repair, maintenance or improvements (a) necessitated by the negligence or willful misconduct of Landlord, and (b) which Landlord shall determine to be capital improvement (the cost thereof may be an Expense pursuant to Section 4.1.2 of this Lease).
7.2 To the extent the same is not an express obligation of Landlord pursuant to Section 7.1 above, Tenant shall at its own cost and expense keep and maintain all parts of the Premises and such portion of the Building and improvements as are within the exclusive control of Tenant (including, without limitation, electrical and plumbing systems servicing the Premises) in good condition, promptly making all necessary repairs and replacements, whether ordinary or extraordinary, with materials and workmanship of the same character, kind and quality as the original (including, but not limited to, repair and replacement of all fixtures installed by Tenant, water heaters serving the Premises, windows, glass and plate glass, doors, exterior stairs, skylights, if any, any special office entries, interior walls and finish work, floors and floor coverings, heating and air conditioning systems serving the Premises, electrical systems and fixtures, sprinkler systems, dock boards, truck doors, dock bumpers, plumbing work and fixtures, and performance of regular removal of trash and debris). Tenant as part of its obligations hereunder shall keep the Premises in a clean and sanitary condition. Tenant will, as far as possible keep all such parts of the Premises from falling temporarily out of repair, and upon termination of this Lease in any way Tenant will yield up the Premises to Landlord in good condition and repair, loss by fire or other casualty excepted (but not excepting any damage to glass). Subject to the waiver of subrogation provided in Section 12, Tenant shall, at its own cost and expense, repair any damage to the Premises or the Building resulting from and/or caused in whole or in part by the negligence or misconduct of Tenant, its agents, employees, contractors, invitees, or any other person entering upon the Premises as a result of Tenant’s business activities or caused by Tenant’s default hereunder.
7.3 Except as provided in Article 22, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the making of any repairs, alterations or improvements in or to any portion of the Building or the Premises or to fixtures, appurtenances and equipment in the Building. Tenant hereby waives any and all rights under and benefits of subsection 1 of Section 1932 and Sections 1941 and 1942 of the California Civil Code, or any similar or successor Regulations or other laws now or hereinafter in effect. Except in emergency situations as determined by Landlord, Landlord shall exercise reasonable efforts not to unreasonably interfere with the conduct of the business of Tenant resulting in any way from such damage or destruction or the disregard Premises.
7.4 Tenant shall, at its own cost and expense, enter into a regularly scheduled preventive maintenance/service contract with a maintenance contractor approved by Landlord for servicing all heating and air conditioning systems and equipment serving the Premises (and a copy thereof shall be furnished to Landlord). The service contract must include all services suggested by the equipment manufacturer in the operation/maintenance manual and must become effective within thirty (30) days of the repair thereofdate Tenant takes possession of the Premises. Should Tenant fail to do so, Landlord may, upon notice to Tenant, enter into such a maintenance/ service contract on behalf of Tenant or perform the work and in either case, charge Tenant the cost thereof along with a reasonable amount for Landlord’s overhead.
Appears in 1 contract
Repair. Landlord 9.1 The Sub-tenant shall use reasonable efforts clean and maintain the Leased Premises in good order and condition and effect, at its expense, all repairs to give Tenant the Leased Premises and to the fixture, equipment and machinery contained therein. With respect to the Sub- landlord’s obligation to repair, the Sub-landlord will transfer all warranties and guarantees it may hold or receive to the extent same may be transferred. Structural repairs and replacements to the Leased Premises which are both of a non-recurring and capital nature, shall be performed by the Sub-landlord.
9.2 If, after a fifteen (15) day notice given by the Sub-landlord to the Sub-tenant putting the latter in default to complete any Sub-tenant’s repairs, the Sub-tenant still shall not have begun and shall not be diligently pursuing such repairs or has not given the Sub-landlord a written notice contesting Sub-landlord’s aforesaid notice, the Sub-landlord shall have the right to complete itself all such repairs at the expense, cost and risk of its decisionsthe Sub-tenant and to collect from the Sub-tenant the amount disbursed therefore by the Sub-landlord plus a sum equivalent to fifteen
9.3 The Sub-tenant shall, estimates at the expiration or elections under earlier termination of the Lease, surrender the Leased Premises in as good condition as reasonable use will permit. Should the Sub-tenant not be required to remove any Sub-tenant’s Work, alterations and/or improvements, the Sub-tenant’s Work, alterations and improvements which cannot be removed without causing damage to the Leased Premises or Building shall, ipso facto, upon the early termination of this Section 7.3 within sixty (60) days after any such damage Lease or destruction. If upon the Term expiry of the Lease is Term for any other reason, be deemed to have become the property of Sub-landlord without any compensation being paid to the Sub-tenant therefor.
9.4 The Sub-tenant may at any time and from time to time at its expense, make such changes, alterations, additions, and improvements, in its last year and to the Leased Premises as will in the judgment of the Term when Sub-tenant better adapt the Leased Premises for the purpose of its business or use, provided, however that (i) Sub- tenant shall make no changes, alterations, additions or improvements to the structure or any perimeter wall; (ii) no such changes, alterations or improvements shall be effected except with the Sub-landlord’s prior written approval of all plans and specifications; (iii) perform in a good and workmanlike manner in compliance with all applicable laws, bylaws, and regulations of the City of Vancouver and/or of the University; and (iv) the Sub-landlord may require that all contractors or subcontractors maintain liability and damage or destruction occurs insurance in an amount of at least five million dollars ($5,000,000.00) with respect to its activities in the Leased Premises and Tenant has not exercised its Renewal Option the Building, and the Sub-tenant will cause any contractor undertaking work on the Leased Premises and/or the Building, prior to undertaking such work, to add the Sub-landlord as an additional insured to such contractor’s general liability policy and shall provide to the Sub-landlord certificate evidencing such insurance and bearing endorsements requiring fifteen (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with 15) days written notice to the other party given within sixty (60) days after the date Sub-landlord of any such damage change or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the noncancellation.
9.5 The Sub-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord landlord shall not be responsible for, liable for to, or contribute to, any inconvenience costs, charges, expenses or annoyance to Tenant outlays of any nature whatsoever arising from or injury relating to the business of Tenant resulting in any way from such damage or destruction Leased Premises or the disregard of use and occupancy thereof, or the repair thereofcontents thereof or the business carried on thereon except as expressly otherwise provided herein.
Appears in 1 contract
Samples: Lease Agreement
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises or the Building, and except that Landlord shall repair and maintain the structural portions of the Building, including the roof and the basic plumbing, air conditioning, heating and electrical systems installed or furnished by Landlord and all common areas of the Building. By taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the damagecondition in which Landlord is obligated to deliver them. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, except as specifically set forth in this Lease.
7.2 Tenant shall at its own cost and expense reasonably keep and maintain all parts of the Premises and improvements therein in good condition, promptly making all necessary repairs and replacements, whether ordinary or extraordinary, with materials and workmanship of the same character, kind and quality as the original (including, but rather either party not limited to, repair and replacement of all fixtures installed by Tenant, water heaters serving the Premises, windows, glass and plate glass, doors, any special office entries, interior walls and finish work, floors and floor coverings, heating and air conditioning systems serving the Premises, electrical systems and fixtures, sprinkler systems, dock boards, truck doors, dock bumpers, plumbing work and fixtures). Tenant as part of its obligations hereunder shall be entitled keep the Premises in a reasonably clean and sanitary condition. Tenant will, as far as reasonably possible keep all such parts of the Premises from deterioration due to terminate ordinary wear and from falling temporarily out of repair, and upon termination of this Lease in any way Tenant will deliver the Premises to Landlord in good condition and repair in substantially the same condition as it is in as of the Commencement Date, loss by delivering written notice thereof fire or other casualty excepted and ordinary wear and tear excepted. Tenant shall, at its own cost and expense, reasonably repair any damage to the non-terminating party within thirty (30) days after Landlord receives notice Premises or the Building resulting from and/or caused in whole or in part by the negligence or misconduct of Tenant, its mortgagee agents, employees, contractors, invitees, or any other person entering upon the Premises as a result of such election. Tenant’s business activities or caused by Tenant’s default hereunder.
7.3 Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to Tenant perform any maintenance unless such failure shall persist for an unreasonable time which shall be determined in Landlord’s reasonable discretion after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.4 Except as provided in Article 22, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the making of any repairs, alterations or improvements in or to any portion of the Building or the Premises or to fixtures, appurtenances and equipment in the Building unless due to Landlord’s negligence or willful misconduct. Notwithstanding the foregoing, Landlord agrees to make every reasonable effort to avoid any injury or disruption of Tenant’s business in making any such repairs, alterations or improvements. Except to the extent, if any, prohibited by law or as provided in Section 19.7 hereof, Tenant waives the right to make repairs at Landlord’s expense under any law, statute or ordinance now or hereafter in effect.
7.5 Tenant shall, at its own cost and expense, enter into a regularly scheduled preventive maintenance/service contract with a maintenance contractor selected by Tenant and approved by Landlord for servicing all heating and air conditioning systems and equipment serving the Premises (and a copy thereof shall be furnished to Landlord). Tenant hereby initially selects the contractors set forth on Exhibit 6.1, and Landlord acknowledges the acceptance of the same, provided that with the exception of Nortel, all such contractors are insured union contractors. The service contract must include all services suggested by the equipment manufacturer in the operation/maintenance manual and must become effective within thirty (30) days of the date Tenant takes possession of the Premises.
7.6 In recognition of Tenant’s use, Landlord shall use good-faith efforts to provide Tenant (except in the case of emergency, in which event Landlord shall use reasonable efforts, but shall not be required, to provide Tenant with prior notice) not less than twenty four (24) hours prior written notice of Landlord’s intent to enter the Premises provided such entry shall not materially disrupt Tenant’s service to its clients, and not less than forty eight (48) hours prior written notice of Landlord’s intention to enter the Premises to effect planned repairs (including, but not limited to electrical, mechanical or plumbing work) if such work will materially disrupt and/or interfere with the business of Tenant resulting within the Premises or Building in any way from a manner which will, in Landlord’s reasonable opinion, affect Tenant’s use. In such damage or destruction or circumstances Tenant and Landlord will cooperate to determine an appropriate time. Further, in emergency situations Landlord shall use reasonable care and precaution in order to minimize the disregard disruptions in Tenant’s business. For the purpose of this section, Landlord shall give notice to Tenant at the notice section of the repair thereofLease, or in an emergency to Tenant at Neutral Tandem, Inc., 0 Xxxxx XxXxxxx, Xxxxx 0000, Xxxxxxx, XX 00000, Attention: Chief Financial Officer, with a copy to Neutral Tandem, Inc., 0 Xxxxx XxXxxxx, Xxxxx 0000, Xxxxxxx, XX 00000, Attention: General Counsel, or such other number as otherwise provided by Tenant to Landlord in writing, and state the date and approximate time of requested entry. Landlord may not enter without an escort provided by Tenant. Landlord and its agents shall have the right to enter the Premises unescorted at any time during an emergency, except that Landlord shall make best efforts to notify Tenant, and Tenant shall be entitled to accompany Landlord in such case.
7.7 Tenant has examined the Premises, including the buildings, fixtures and articles of personalty, and Tenant hereby leases and accepts the same “as is” with the existing infrastructure in place, and with three (3) Liebert units and 19 battery cells, without any representation or warranty, express or implied, with respect thereto or to their condition or their use or occupation and Landlord shall, in no event, be liable for any latent defects in the buildings, the fixtures or articles of personality or because of the existence of any violations whatsoever. Tenant further acknowledges and agrees that it has not relied on, and Landlord has not made, and does not make, any representations or warranties, express or implied, as to (i) the current or future real estate tax liability, assessment or valuation of the Premises; (ii) the environmental condition of the Premises; (iii) the compliance of the Premises with applicable zoning ordinances or resolutions and the ability to obtain a variance in respect to the Premises’ non-compliance, if any, with said zoning ordinances or resolutions; (iv) the current or future use of the Premises and their compliance with the existing certificate of occupancy for the Premises; (v) the present or future condition and operating state of any machinery or equipment on the Premises and the present or future structural and physical condition of the Premises or its suitability for rehabilitation or renovation; (vi) the ownership or state of title of any personal property on the Premises; (vii) the presence of any notices of violations of law issued by any governmental authority; (viii) the layout and/or operating expenses pertaining to the Premises; (ix) any other matter or thing affecting or relating to the Premises; or (x) as to the condition, performance, safety, or usability of any of the equipment left in the Premises by the prior tenant.
Appears in 1 contract
Samples: Lease (Neutral Tandem Inc)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 6.03 within sixty forty-five (6045) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and ; should Landlord fail to timely give such written notice, Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto)may, both the Landlord and Tenant shall have the option to terminate this Lease with by written notice to the other party given within sixty (60) days after the date of any such damage or destruction Landlord terminate this Lease. If Landlord has elected to repair and restore the Leased Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease)Project, this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), hundred eighty (180) days following the casualty) subject to the provisions of Section 7.2 6.02 of this Lease; provided, however, if at the time repair and restoration has commenced, Landlord has delivered to Tenant an independent architect's certificate to the effect that repair and restoration will require longer than 180 days, then the period for repair and restoration shall be the period so certified by the architect up to but not exceeding 270 days following the casualty. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permittedpursuant to Section 6.03 (a) or (b), Tenant shall be entitled to a fair and equitable diminution of Base Rental from the date of casualty to the date of termination based on the extent and nature of the damage, and Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord has elected to repair and reconstruct the Leased Premises or other portion of the Project to the extent stated above, the Term will be extended for a time equal to the period of such repair and reconstruction. If Landlord elects to rebuild the Leased Premises or other portion of the Project, Landlord shall (i) only be obligated to restore or rebuild the Leased Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Leased Premises, reasonable wear and tear excepted and Landlord will (ii) not be required to rebuild, repair or replace any part of Tenant’s 's Property or Tenant WorkTenant's improvements. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Leased Premises or other portion of the Project pursuant to this Section 7.36.03, in no event shall Landlord be required to expend under this Article VII VI any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) 6.04 of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof.
Appears in 1 contract
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises, except as specified in Section 7.2 and Exhibit C attached to this Lease. By taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the damagecondition in which Landlord is obligated to deliver them, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof subject to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee warranties expressly set forth in Exhibit C annexed hereto. It is hereby understood and agreed that no representations respecting the condition of such electionthe Premises or the Building have been made by Landlord to Tenant, except as specifically set forth in this Lease. Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.2 Landlord shall at its own cost and expense keep the roof, exterior walls, structural columns and foundation of the Building (collectively, the "Landlord Repair Items") in good condition, promptly making all necessary repairs and replacements, with materials and workmanship of the same character, kind and quality as the original, except that Tenant shall be responsible for such repairs or replacements to the extent the same are required due to the acts or the negligent or wrongful omissions of Tenant or injury its agents, employees or contractors. ~ addition to the business foregoing Landlord shall be responsible for the replacement of the parking lot only to the extent that a complete resurfacing is necessary (as determined in Landlord's reasonable discretion).
7.3 Tenant resulting shall at its own cost and expense keep and maintain all parts of the Premises (excluding the Landlord Repair Items other than those for which Tenant is responsible pursuant to Section 7.2) in good condition, promptly making all necessary repairs and replacements, whether structural or non-structural, ordinary or extraordinary, with materials and workmanship of the same character, kind and quality as the original (including, but not limited to, repair and replacement of all fixtures installed by Tenant, water heaters serving the Premises, windows, glass and plate glass. doors, exterior stairs, skylights, any special office entries, interior walls and finish work, floors and floor coverings, heating and air conditioning systems, electrical systems and fixtures, sprinkler systems, dock boards, truck doors, dock bumpers, parking lots (excluding the complete resurfacing as set forth in Section 7.2), driveways, landscaping, plumbing work and fixtures, and performance of regular removal of trash and debris). Tenant as part of its obligations hereunder shall keep the Premises in a clean and sanitary condition. Upon termination of this Lease in any way from such damage Tenant will yield up the Premises to Landlord in at least as good condition as the Premises were in at the Commencement Date, subject to ordinary wear and tear, loss by fire or destruction other casualty or the disregard of the repair thereofcondemnation excepted.
Appears in 1 contract
Samples: Lease (Vicon Industries Inc /Ny/)
Repair. 7.1 Landlord shall use reasonable efforts have no obligation to give alter, remodel, improve, repair, decorate or paint the Premises, except as specified in Exhibit B if attached to this Lease and except that Landlord shall repair and maintain the structural portions of the Building, including the roof, basic plumbing, air conditioning, heating and electrical systems installed or furnished by Landlord. By taking possession of the Premises, subject to the terms of Exhibit B attached hereto with respect to the Tenant written Improvements, Tenant accepts them as being in good order, condition and repair and in the condition in which Landlord is obligated to deliver them, except as set forth in the punch list to be delivered pursuant to Section 2.1. However, notwithstanding the foregoing, Landlord agrees that the base Building electrical, heating, ventilation and air conditioning and plumbing systems located in the Premises shall be in good working order as of the date Landlord delivers possession of the Premises to Tenant. Except to the extent caused by the acts or omissions of Tenant or any Tenant Entities or by any alterations or improvements performed by or on behalf of Tenant, if such systems are not in good working order as of the date possession of the Premises is delivered to Tenant and Tenant provides Landlord with notice of its decisions, estimates or elections under this Section 7.3 the same within sixty (60) days after any such damage or destruction. If following the Term date Landlord delivers possession of the Lease Premises to Tenant, Landlord shall be responsible for repairing or restoring the same. It is in its last year hereby understood and agreed that no representations respecting the condition of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant Building have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be been made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant, except as specifically set forth in this Lease.
7.2 Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild shall, at all times during the Term, keep the Premises in good condition and repair excepting damage by fire, or other portion casualty, and in compliance with all applicable governmental laws, ordinances and regulations, promptly complying with all governmental orders and directives for the correction, prevention and abatement of the Projectany violations or nuisances in or upon, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of connected with, the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of all at Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. sole expense.
7.3 Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to Tenant perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.4 Except as provided in Article 22, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the business making of Tenant resulting any repairs, alterations or improvements in or to any way from such damage or destruction portion of the Building or the disregard of Premises or to fixtures, appurtenances and equipment in the repair thereofBuilding. Except to the extent, if any, prohibited by law, Tenant waives the right to make repairs at Landlord’s expense under any law, statute or ordinance now or hereafter in effect.
Appears in 1 contract
Samples: Lease (Cray Inc)
Repair. If this Lease is not terminated in accordance with Section 7.1 or Section 7.2, (a) Landlord shall use reasonable efforts submit a claim for insurance proceeds in relation to give Tenant written notice of such Casualty, and (b) Landlord shall, promptly following its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term receipt of the Lease is in insurance proceeds from the insurers, commence and diligently pursue to completion, at its last year sole cost (including such proceeds), the repair of the Term when affected portions of the damage Buildings and the Premises (but, for the avoidance of doubt, excluding any Gaming Equipment and other personal property belonging to Tenant) substantially to their condition immediately preceding the Casualty (or destruction occurs and Tenant has not exercised its Renewal Option (in such other manner as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate may otherwise agree), in which case this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease)shall not terminate, this Lease but shall continue in full force and effect, and Rent shall continue to be paid by Tenant either directly by Tenant or from the repairs will be made within a reasonable time thereafter (proceeds of Tenant’s rental/business interruption insurance notwithstanding such restoration of the affected portions of the Premises. Whether or not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permittedterminated, Landlord if a Casualty damages any Owned Gaming Equipment, Tenant shall refund to Tenant any prepaid Rent (unaccrued as either, at its option, by the end of the date Term (a) restore or replace such damaged Owned Gaming Equipment (which repair or replacement shall be of damage the same or destructionbetter quality and functionality as the damaged equipment) and using any other sums due and owing insurance proceeds that may be received by Landlord to Tenant (less any sums then due and owing Landlord by Tenantbut whether or not such insurance proceeds are sufficient to make such repairs or replacements); or (b) and any remaining sums due and owing by Tenant assign to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Projectproceeds, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premisesif any, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease property insurance relating to such damaged Owned Gaming Equipment and pay to Landlord (i) the amount of the deductible for such insurance and (ii) to the contraryextent that Tenant has failed to insure such damaged Owned Gaming Equipment for its full replacement value, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII pay any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied deficiency to Landlord’s indebtedness; provided, then Landlord shall have no obligation to restore however, that if Tenant does not proceed as described in clause (a) above and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard cost of the repair thereofor replacement of the damaged Owned Gaming Equipment is less than the amount of the deductible for such insurance, Tenant shall pay to Landlord the amount of the cost of such repair or replacement.
Appears in 1 contract
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises or the Building, except as specified in Exhibit B if attached to this Lease and except that Landlord shall repair and maintain the structural portions of the Building, including the roof and the building systems including, but not limited to, the basic plumbing, air conditioning, heating and electrical systems installed or furnished by Landlord and all common areas of the Building. Subject to the warranties set forth herein, by taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the damagecondition in which Landlord is obligated to deliver them subject to the items set forth on the punchlist prepared in accordance with Section 2.
1. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, except as specifically set forth in this Lease.
7.2 Tenant shall at its own cost and expense keep and maintain all parts of the Premises and improvements therein in as good condition and repair as of the Commencement Date, plus Tenant shall keep and maintain any items installed by or at the direction of Tenant, in good condition and repair, both subject to ordinary wear and tear and loss by fire or other casualty. In satisfying the above standards, Tenant shall promptly make all necessary repairs and replacements, whether ordinary or extraordinary, with materials and workmanship of the same character, kind and quality as the original (including, but rather either party not limited to, repair and replacement of all fixtures installed by Tenant, water heaters serving only the Premises, windows, glass and plate glass, doors, any special office entries, interior walls and fmish work, floors and floor coverings, heating and air conditioning systems installed by Tenant or serving only the Premises, electrical systems installed by Tenant or to the extent they are exposed within the Premises, sprinkler systems to the extent they are installed by Tenant or exposed within the Premises, plumbing work to the extent it is installed by Tenant or exposed with the Premises and fixtures). Tenant as part of its obligations hereunder shall be entitled keep the Premises in a clean and sanitary condition. Tenant will, as far as possible keep all such parts of the Premises from deterioration due to terminate ordinary wear and from falling temporarily out of repair, and upon termination of this Lease in any way Tenant will deliver the Premises to Landlord in as good condition and repair as of the Commencement Date, plus Tenant shall deliver any items installed by delivering written notice thereof or at the direction of Tenant which remain on or in the Premises, in good condition and repair, loss by fire or other casualty excepted and ordinary wear and tear excepted, with respect to both the condition and repair of the Premises and items installed by Tenant. Tenant shall, at its own cost and expense, repair any damage to the non-terminating party within thirty (30) days after Landlord receives notice Premises or the Building resulting from and/or caused in whole or in part by the negligence or misconduct of Tenant, its mortgagee agents, employees, contractors, invitees, or any other person entering upon the Premises as a result of such election. Tenant’s business activities or caused by Tenant’s default hereunder.
7.3 Landlord shall not be liable for any inconvenience failure to commence and diligently pursue any repairs or annoyance to Tenant perform any maintenance unless such failure shall persist for thirty (30) after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.4 Except as otherwise set forth in the Lease, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the business making of Tenant resulting any repairs, alterations or improvements in or to any way from such damage or destruction portion of the Building or the disregard Premises or to fixtures, appurtenances and equipment in the Building unless due to Landlord’s negligence or willful misconduct or Landlord’s breach of the repair thereofLease beyond any applicable cure period.
7.5 In recognition of Tenant’s use, Landlord shall provide Tenant (except in the case of emergency, in which event Landlord shall use reasonable efforts, but shall not be required, to provide Tenant with prior notice) not less than seventy two (72) hours prior written notice of Landlord’s intent to enter the Premises (or perform any work near the Premises, the Equipment or the Conduit which could disrupt Tenant’s services to its clients), provided such entry shall not disrupt Tenant’s service to its clients, to effect planned repairs (including, but not limited to electrical, mechanical or plumbing work). In such circumstances Tenant and Landlord will cooperate to determine an appropriate time. Further, in emergency situations Landlord shall use reasonable care and precaution in order to minimize the disruptions in Tenant’s business.
Appears in 1 contract
Samples: Lease (Neutral Tandem Inc)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60i) days after any such damage or destruction. If the Term Premises or the Site or any part thereof shall suffer damage that does not constitute a Casualty or an Event of Loss, the Lease is Lessee shall make or cause to be made such repairs as are necessary to ensure that the Premises and the Site are restored to the condition and value thereof immediately preceding such damage, assuming the Premises and the Site had been maintained in its last year the condition and state of repair required under Section 8(a)(i); provided, however, that the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant Lessee shall have the option right to terminate this Lease with written notice use any insurance proceeds received by reason of such damage for such repairs pursuant to the other party given terms and conditions of Section 9(f); and provided, further, that such repairs shall be commenced promptly (in any event within sixty six (606) days after the date months of any such damage subject to Force Majeure delays) and be completed promptly (subject to Force Majeure delays), but in any event such repairs shall be completed not later than the Lease Termination Date.
(ii) So long as no Event of Default shall have occurred and be continuing, if a Casualty occurs and the Lessee has given notice pursuant to Section 9(a)(ii) that it will reconstruct the Premises and the Site, then the Lessee shall promptly commence the reconstruction of the Premises and the Site (such that the resulting Premises and the Site shall have a Fair Market Sales Value, residual value, utility and remaining useful life at least equal to that which the Premises and the Site had immediately prior to its destruction or destruction If Landlord has elected damage (assuming that the Premises and the Site had been maintained in the condition required under the terms of this Lease) and otherwise be in the condition and state of repair required under Section 8(a)(i)) and shall thereafter promptly complete the reconstruction (subject to repair and restore Force Majeure delays), but in any event such reconstruction shall be completed not later than the Lease Termination Date.
(iii) Should any damage, loss, condemnation, requisition by a Governmental Authority, confiscation, theft or seizure occur with respect to the Premises or other portion the Site (whether or not constituting an Event of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the LeaseLoss), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid no Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed abated hereunder at the any time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair virtue thereof.
Appears in 1 contract
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (601) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into By taking possession of the Premises, reasonable Tenant accepts the Premises with respect to which possession is so taken as being in the condition in which Landlord is obligated to deliver them and otherwise in good order, condition and repair (except for such items, if any, as are described in Landlord's Punch List). Tenant shall, at all times during the term hereof at Tenant's sole cost and expense, keep the Premises and every part thereof in good order, condition and repair, excepting ordinary wear and tear excepted tear, damage thereto by fire, earthquake, Act of God or the elements. Tenant shall upon the expiration or sooner termination of the term hereof, unless Landlord demands otherwise as in Paragraph 8 hereof provided, surrender to Landlord the Premises and all repairs, changes, alterations, additions, and improvements thereto in the same condition as when received, or when first installed, ordinary wear and tear, damage by fire, earthquake, Act of God, or the elements excepted. It is hereby understood and agreed that Landlord will not be required has no obligation to rebuildalter, repair remodel, improve, repair, decorate, or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore paint the Premises or other portion any part thereof except as specified in the Initial Premises Lease Improvement Agreement and the Expansion Space Lease Improvement Agreement, and that no representations respecting the condition of the Project pursuant Premises or the Building have been made by Landlord to this Section 7.3Tenant, in no event except as specifically herein set forth.
(2) Tenant shall Landlord be required repair all damage to expend under this Article VII the Building including common areas, restrooms, hallways, elevators, or any amount in excess other area, fixture, or equipment of the proceeds actually received Building caused by Tenant's installation or removal of its property or resulting from any negligent act or conduct of Tenant, its employees, contractors, agents, licensees or invitees.
(3) All maintenance or repairs made by Tenant shall be made in accordance with all applicable laws, ordinances and regulations, and all requirements of Landlord's and Tenant's insurance policies and any contractor or person selected by Tenant to make the insurance carried same, and all subcontractors must first be approved in writing by Landlord, or, at Landlord's option, the maintenance or repair shall be made by Landlord pursuant to Section 7.4(a) of this Lease, for Tenant's account and in Tenant shall reimburse Landlord for the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party shall be entitled to terminate this Lease by delivering written notice cost thereof to the non-terminating party within thirty twenty (3020) days after Landlord receives notice from its mortgagee receipt of such electiona statement. Landlord In any event, all repairs shall not be liable for any inconvenience or annoyance to Tenant or injury equal in quality and workmanship to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereoforiginal work.
Appears in 1 contract
Samples: Lease Agreement (Interland Inc)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel improve, repair, decorate or paint the Premises, except as specified in Exhibit B if attached to this Lease and except that Landlord shall repair and maintain the structural portions of the roof, foundation and walls of the Building. By taking possession of the Premises, Tenant accepts them as being in good order, condition and repair and in the damagecondition in which Landlord is obligated to deliver them, but rather either party shall except as set forth in the punch list to be entitled delivered pursuant to terminate Section 2.
1. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, except as specifically set forth in this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such electionLease. Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.2 Tenant or injury to shal1 at its own cost and expense keep and maintain all parts of the business Premises and such portion of the Building and improvements as are within the exclusive control of Tenant resulting in good condition, promptly making all necessary repairs and replacements, whether ordinary or extraordinary, with materials and workmanship of the same character, kind and quality as the original (including, but not limited to, repair and replacement of all fixtures installed by Tenant, water heaters serving the Premises, windows, glass and plate glass, doors, exterior stairs, skylights, any special office entries, interior walls and finish work, floors and floor coverings, heating and air conditioning systems serving the Premises, electrical systems and fixtures, sprinkler systems, dock boards, truck doors, dock bumpers, plumbing work and fixtures, and performance of regular removal of trash and debris). Tenant as part of its obligations hereunder shall keep the Premises in a clean and sanitary condition. Tenant will, as far as possible keep all such parts of the Premises from deterioration due to ordinary wear and from falling temporarily out of repair, and upon termination of this Lease in any way from such Tenant will yield up the Premises to Landlord in good condition and repair, loss by fire or other casualty excepted (but not excepting any damage or destruction to glass). Tenant shall, at its own cost and expense, repair any damage to the Premises or the disregard Building resulting from and/or caused in whole or in part by the negligence or misconduct of Tenant, its agents, employees, contractors, invitees, or any other person entering upon the Premises as a result of Tenants business activities or caused by Tenant’s default hereunder.
7.3 Except as provided in Article 22, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant's business arising from the making of any repairs, alterations or improvements in or to any portion of the Building or the Premises or to fixtures, appurtenances and equipment in the Building. Except to the extent, if any, prohibited by law, Tenant waives the right to make repairs at Landlord's expense under any law, statute or ordinance now or hereafter in effect.
7.4 Tenant shall, at its own cost and expense, enter into a regularly scheduled preventive maintenance/service contract with a maintenance Contractor approved by Landlord for servicing all heating and air conditioning systems and equipment serving the Premises (and a copy thereof shall be furnished to Landlord). The service contract must include all services suggested by the equipment manufacturer in the operation/maintenance manual and must become effective within thirty (30) days of the date Tenant takes possession of the Premises. Should Tenant fail to do so, Landlord may, upon notice to Tenant, enter into such a maintenance service contract on behalf of Tenant or perform the work and in either case, charge Tenant the cost thereof along with a reasonable amount for Landlord's overhead.
7.5 Landlord shall coordinate any repairs and other maintenance of any railroad tracks serving the Building and, if Tenant uses such rail tracks, Tenant shall reimburse Landlord or the railroad company from time to time upon demand, as additional rent, for its share of the costs of such repair thereofand maintenance and for any other sums specified in any agreement to which Landlord or Tenant is a party respecting such tracks, such costs to be borne proportionately by all tenants in the Building using such rail tracks, based upon the actual number of rail cars shipped and received by such tenant during each calendar year during the Term.
Appears in 1 contract
Samples: Lease Agreement (Immudyne, Inc.)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty thirty (6030) days after any Landlord receives a determination from its insurer of the insurance proceeds payable in connection with such damage or destruction. If the Term of the Lease ; provided that if Landlord is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option unable to terminate this Lease with written provide such notice to the other party given Tenant within sixty (60) days after of the date of any such damage or destruction for any reason, Landlord will keep Tenant apprised of the status of its evaluation of its options hereunder. If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease)Project, this Lease shall continue in full force and effecteffect and Tenant shall pay Rent for that portion of the Premises that is not damaged and for any damaged space that Tenant utilizes, and the repairs to the damaged portion of the Premises will be made within a reasonable time thereafter (not to exceed one [1] yeartwo hundred‑forty (240) days), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease with respect to such untenantable portion of the Premises by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord). If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the structural portion of the Premises or other portion of the Project to approximately the same structural condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted excepted, and Landlord will shall not be required to rebuild, repair or replace any part of Tenant’s Property property, any leasehold improvements, any interior finishes or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore other non-structural components of the Premises or other portion (all of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore and repair the damage, but rather either party which shall be entitled to terminate this Lease repaired and restored by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from Tenant at its mortgagee of such electionsole cost and expense). Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereof. Upon completion of Landlord’s repairs to and restoration of the Premises, Tenant shall resume the payment to Landlord of all Rent due and payable under this Lease.
Appears in 1 contract
Repair. (a) The Tenant covenants with the Landlord shall use reasonable efforts to give Tenant written notice of its decisionsrepair the Leased Premises, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term including glass and doors of the Lease is Leased Premises and to leave the Leased Premises in its last year good repair, including interior painting if, in the opinion of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto)Landlord, both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the such painting is required for reasons other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, than reasonable wear and tear excepted or is required because of damage done by the Tenant to the Leased Premises, and to permit the Landlord will not be to enter and view the state of repair and to repair according to notice in writing; reasonable wear and tear and damage by fire, lightning and tempest, and other casualty against which the Landlord is insured, and repairs required to rebuildthe roof and outside walls of the Building due to structural defects, repair are expressly excepted from this covenant of the Tenant to repair. Provided however, that if the Leased Premises shall be damaged or replace any part destroyed through negligence, carelessness or misuse by the Tenant, its servants, agents, employees or anyone permitted by it to be in the Leased Premises, the expense of the necessary repairs, replacements or alterations shall be borne by the Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease , who shall pay them to the contraryLandlord forthwith on demand.
(b) The Tenant also covenants with the Landlord to maintain and repair at the Tenant's sole expense, during the whole of the Term herein, all equipment, appurtenances and improvements with the Leased Premises, including without limiting the generality of the foregoing, all electrical fixtures, air conditioning equipment, heating equipment, ventilation equipment, plumbing fixtures and equipment, wiring, and further to permit the Landlord to enter and view the state of repair of same and to repair according to notice in writing; provided however that reasonable wear and tear and damage by fire, lightning and tempest and other casualty against which the Landlord is insured are expressly excepted from this covenant. Provided further that if such equipment shall be damaged or destroyed or rendered inoperable or require replacement through the negligence, carelessness or misuse by the Tenant, its servants, agents, employees or anyone permitted by it to be in the Leased Premises, the expense of the necessary repairs, replacements or alterations shall be borne by the Tenant who shall pay them to the Landlord forthwith on demand.
(c) The Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and responsible in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds first instance to be applied to Landlord’s indebtedness, then Landlord shall have no obligation to restore maintain and repair the damagebuilding structure within which the Leased Premises are situate, but rather either party shall be entitled to terminate this Lease by delivering written notice thereof to and the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such election. roof thereof, provided however, that the Landlord shall not be liable responsible for any inconvenience losses or annoyance to damages of the Tenant or injury caused by structural damage to the business Leased Premises provided that the Landlord repairs same within 3 weeks of receiving written notice from the Tenant resulting in any way from such damage or destruction or the disregard of the repair thereofthat structural repairs are required.
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Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises, except as specified in Exhibit B if attached to this Lease and except that Landlord shall repair and maintain all structural portions of the damageBuilding and the Building envelope, but rather either party including the roof, foundation walls, water heaters, skylights, windows, glass, plate glass, and Life Safety Systems, as well as all outdoor areas and specifically any terrace and deck areas. In addition, Landlord shall also maintain the common areas of the Building and the Building systems generally servicing the common areas of the Building (including, without limitation, any heating, ventilating and air conditioning units); provided, however, that the costs and expenses associated with the foregoing shall be entitled to terminate this Lease by delivering written notice thereof a part of Expenses and subject to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee terms and conditions of such electionArticle 4 of this Lease. Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.2 Tenant shall periodically inspect the Premises to identify any conditions that are in need of maintenance or injury repair. Tenant shall provide Landlord with notice of any such conditions and Landlord shall make any such repairs within a reasonable period of time following the receipt of such notice. All sums paid by Landlord and ail expenses incurred by it in connection with such repairs, which are not expressly obligations of Landlord, as provided herein, shall be payable to Landlord by Tenant within ten (10) business days of Landlord’s demand. Tenant as part of its obligations hereunder shall keep the business Premises in a clean and sanitary condition. Tenant will, use commercially reasonable efforts to keep all such parts of Tenant resulting the Premises in such a manner to minimize deterioration due to ordinary wear and from falling temporarily out of repair, and upon termination of this Lease in any way from Tenant will yield up the Premises to Landlord in good condition and repair, ordinary wear and tear and loss by fire or other casualty excepted (but not excepting any damage to glass). Notwithstanding anything to the contrary contained herein and except to the extent caused by Tenant or any of the Tenant Entities’ acts and/or omissions or as a result of casualty, to the extent Landlord is made aware and Landlord determines in its reasonable discretion that expenditures for the full replacement of any of the heating, ventilating and air conditioning units solely servicing the Premises (as opposed to the replacement of components or repair thereof) must be made, Landlord shall cause such work to be completed at its sole cost and expense, which cost shall not be included in Expenses. However, except to the extent caused by Tenant or any of the Tenant Entities' acts and/or omissions, to the extent Landlord is made aware and Landlord determines in its reasonable discretion that expenditures to repair or replace components of any of the heating, ventilating and air conditioning units solely servicing the Premises (as opposed to the full replacement thereof) must be made, Landlord shall cause such work to be completed and all such costs and expenses incurred by Landlord in connection with such repairs or replacement of components shall be payable to Landlord by Tenant within ten (10) business days of Landlord’s demand, provided that except to the extent caused by the acts or omissions of Tenant or any Tenant Entity, Tenant shall not be required to pay more than Three Thousand Dollars ($3000.00) per Lease Year for such repair or replacement of components (excluding the costs associated with the maintenance/service contract described in Section 7.4 below). Tenant shall, at its own cost and expense, repair any damage or destruction to the Premises or the disregard Building resulting from and/or caused in whole or in part by the negligence or misconduct of Tenant, its agents, employees, contractors, invitees, or any other person entering upon the Premises as a result of Tenant’s business activities or caused by Tenant’s default hereunder.
7.3 Except as provided in Article 22, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the making of any repairs, alterations or improvements in or to any portion of the repair thereofBuilding or the Premises or to fixtures, appurtenances and equipment in the Building. Tenant hereby waives any and all rights under and benefits of subsection 1 of Section1932 and Sections 1941 and 1942 of the California Civil Code, or any similar or successor Regulations or other laws now or hereinafter in effect.
7.4 Landlord shall, on behalf of Tenant, enter into a regularly scheduled preventive maintenance/service contract with a maintenance contractor for servicing all heating and air conditioning systems and equipment serving the Premises. All costs and expenses paid by Landlord in connection therewith shall be payable to Landlord by Tenant within ten (10) days of Landlord’s demand.
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Samples: Sublease (Conceptus Inc)
Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term of the Lease is in its last year of the Term when the damage or destruction occurs and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both the Landlord and Tenant shall have the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage or destruction If Landlord has elected to repair and restore the Premises or other portion of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant have elected to terminate the Lease), this Lease shall continue in full force and effect, and the repairs will be made within a reasonable time thereafter (not to exceed one [1] year), subject to the provisions of Section 7.2 of this Lease. Should the repairs not be completed within that period, both Landlord and Tenant shall each have the option of terminating this Lease by written letter of termination. If this Lease is terminated as herein permitted, Landlord shall refund to Tenant any prepaid Rent (unaccrued as of the date of damage or destruction) and any other sums due and owing by Landlord to Tenant (less any sums then due and owing Landlord by Tenant) and any remaining sums due and owing by Tenant to Landlord shall be paid to Landlord. If Landlord elects to rebuild the Premises or other portion of the Project, Landlord shall only be obligated to restore or rebuild the Premises or other portion of the Project to approximately the same condition as existed at the time Tenant entered into possession of the Premises, reasonable wear and tear excepted and Landlord will not be required to rebuild, repair or replace any part of Tenant’s Property or Tenant Work. Notwithstanding anything contained in this Lease to the contrary, if Landlord shall elect to repair and restore the Premises or other portion of the Project pursuant to this Section 7.3, in no event shall Landlord be required to expend under this Article VII any amount in excess of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this Lease, and in the event the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then 7.1 Landlord shall have no obligation to restore alter, remodel, improve, repair, decorate or paint the Premises, except as specified in Sections 22 and 23 of this Lease and except that Landlord shall, throughout the Term of the Lease: (i) repair and maintain the structural portions of the roof, foundation and walls of the Building at Landlord’s cost, except to the extent caused by acts and/or omissions of Tenant or any Tenant Entity, and (ii) maintain the common areas of the Project (including, without limitation, the parking areas, sidewalks, other paved areas, and landscaped areas, and all utility lines serving the Building to the point of connection with the Building), all in good order, condition, and repair, at Landlord’s cost, subject to reimbursement under Article 4. In addition, Landlord shall patch and repave the paved areas of the Project, as necessary; Landlord shall keep the paved areas of the Project lit during night-time hours; and Landlord shall keep common areas of the Project clean and neat and in good order, condition and repair (including sweeping and restriping of parking areas, as necessary). By taking possession of the damagePremises, but rather either party shall be entitled Tenant accepts them as being in good order, condition and repair and in the condition in which Landlord is obligated to terminate deliver them, except as set forth in Section 2.1. It is hereby understood and agreed that no representations respecting the condition of the Premises or the Building have been made by Landlord to Tenant, except as specifically set forth in this Lease by delivering written notice thereof to the non-terminating party within thirty (30) days after Landlord receives notice from its mortgagee of such electionLease. Landlord shall not be liable for any inconvenience failure to make any repairs or annoyance to perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or maintenance is given to Landlord by Tenant.
7.2 Tenant or injury to shall at its own cost and expense keep and maintain all parts of the business Premises and such portion of the Building and improvements as are within the exclusive control of Tenant resulting (other than those which are to be maintained by Landlord pursuant to Section 7.1) in good condition, reasonable wear and tear, damage by casualty or taking excepted, promptly making all necessary repairs and replacements, whether ordinary or extraordinary, with materials and workmanship of the same character, kind and quality as the original (including, but not limited to, repair and replacement of all fixtures installed by Tenant, water heaters serving the Premises, windows, glass and plate glass, doors, exterior stairs, skylights, any special office entries, interior walls and finish work, floors and floor coverings, electrical systems and fixtures, sprinkler systems, dock boards, truck doors, dock bumpers, plumbing work and fixtures, and performance of regular removal of trash and debris). Tenant as part of its obligations hereunder shall keep the Premises in a clean and sanitary condition. Tenant will, as far as possible keep all such parts of the Premises from deterioration due to ordinary wear and from falling temporarily out of repair, and upon termination of this Lease in any way from such Tenant will yield up the Premises to Landlord in good condition and repair, reasonable wear and tear, loss by fire, other casualty and taking excepted (but not excepting any damage or destruction to glass). Subject to Section 12, Tenant shall, at its own cost and expense, repair any damage to the Premises or the disregard Building resulting from and/or caused in whole or in part by the negligence or misconduct of Tenant, its agents, employees, contractors, invitees, or any other person entering upon the Premises as a result of Tenant’s business activities or caused by Tenant’s default hereunder. Notwithstanding anything to the contrary contained herein and except to the extent caused by acts and/or omissions of Tenant or any Tenant Entity (as opposed to the mere use thereof by Tenant in accordance with this Lease) or as a result of casualty, to the extent Landlord is made aware and Landlord determines in its reasonable discretion that work to repair, maintain or replace components of any of the repair heating, ventilating and air conditioning units solely servicing the Premises (as opposed to the full replacement thereof) must be made, Landlord shall cause such work to be completed and all such costs and expenses incurred by Landlord in connection with such repairs, maintenance or replacement of components shall be payable to Landlord by Tenant within thirty (30) days of Landlord’s demand, provided that except to the extent caused by the acts and/or omissions of Tenant or any Tenant Entity (as opposed to the mere use thereof by Tenant in accordance with this Lease), Tenant shall not be required to pay more than Four Thousand Five Hundred Dollars ($4,500,00) per Lease Year (the “HVAC Repair Cap”) for such repair, maintenance or replacement of components (excluding the costs associated with the maintenance/service contract described in Section 7.4 below). Notwithstanding the foregoing and except to the extent caused by the acts or omissions of Tenant or any Tenant Entity (as opposed to the mere use thereof by Tenant in accordance with this Lease), to the extent Landlord is made aware and Landlord determines in its sole discretion that the full replacement (as opposed to repair) of the heating, ventilating and air conditioning unit exclusively servicing the Premises is necessary or otherwise prudent to perform, Landlord shall cause such work to be completed and Tenant shall pay the amortized portion of such expenditure in the manner described for capital expenses as set forth in Section 4.1.2 of this Lease during the Term and any extension thereof, and such amounts shall not be subject to the HVAC Repair Cap.
7.3 Except as provided in Article 22, there shall be no abatement of rent and no liability of Landlord by reason of any injury to or interference with Tenant’s business arising from the making of any repairs, alterations or improvements in or to any portion of the Building or the Premises or to fixtures, appurtenances and equipment in the Building. Tenant hereby waives any and all rights under and benefits of subsection 1 of Section 1932 and Sections 1941 and 1942 of the California Civil Code, or any similar or successor Regulations or other laws now or hereinafter in effect.
7.4 Landlord shall, on behalf of Tenant, enter into a regularly scheduled preventive maintenance/service contract with a maintenance contractor for servicing all heating and air conditioning systems and equipment serving the Premises. All costs and expenses paid by Landlord in connection therewith shall be payable to Landlord by Tenant within thirty (30) days of Landlord’s demand.
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