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. Upon completion of a walk-through inspection with Landlord at the commencement of the Term, Tenant acknowledges that Tenant has thoroughly inspected and accepts the Premises subject to all applicable laws, ordinances and regulations and agrees that the Premises are in good, sanitary order, condition and repair, except for any item on the punch list prepared following substantial completion of the Improvements, if any are to be constructed under paragraph 10.1 hereof, by the contractor at that time, and subject to Landlord's obligation to promptly correct any deficiencies in the work required pursuant to Section 10.1 which Tenant may note during such inspection, and further subject to the obligation of Landlord to remedy latent defects in the work done pursuant to the Drawings and Specifications of which Tenant gives Landlord written notice within one year following commencement of the Term. Tenant, at Tenant's sole cost and expense, agrees to keep the Premises and every part thereof (including its own trade fixtures and personal property) in good condition and repair, except that Landlord shall use reasonable efforts be responsible 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 structure of the Lease is in its last year Building, the Common Areas, the electrical and other utility systems 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 Building up to the other party given within sixty (60) days after point of connection with the date systems exclusively serving the Premises, and the restrooms of any such damage the Demised Premises. Tenant hereby waives all rights to make repairs at the expense of Landlord as provided by law, statute or destruction If ordinance now or hereafter in effect, or to offset the cost thereof against Rent. It is specifically understood and agreed that Landlord has elected no obligation and has made no promises to repair alter, remodel, improve, decorate and restore paint the Premises or other portion any part thereof and, except as expressly set forth in the Drawings and Specifications and in this paragraph, no representations respecting the condition of the Project (and if the damage or destruction has occurred in the last year of the Term and neither Landlord or Tenant Premises 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 (less Tenant. If, in an emergency, it shall become necessary to make promptly any sums then due and owing Landlord repairs or replacements required to be made by Tenant) and any remaining sums due and owing by Tenant to , Landlord shall be paid to Landlord. If Landlord elects to rebuild may, without notice, enter the Premises and proceed forthwith to have the repairs or other portion of replacements made and pay 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 Workcost thereof. 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 Within thirty (30) days after Landlord receives notice from its mortgagee renders a xxxx therefor, Tenant shall reimburse Landlord for the cost of such election. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to making the business of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereofrepairs.
Appears in 2 contracts
Samples: Lease (Daily Journal Corp), Lease (Daily Journal 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 Agreement (Texas Roadhouse, Inc.), Lease Agreement (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 (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 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: assets.publishing.service.gov.uk
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 Tenant or injury to the business of Tenant resulting in perform any way from maintenance unless such damage or destruction or the disregard failure shall persist for an unreasonable time after written notice of the repair thereofneed 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).
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 To repair in a fast class manner 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 Leased Premises, reasonable wear and tear and damage by fire, lightning and tempest and other casualty against which the Landlord is insured only excepted and the Landlord may enter and view the state of repair, and the said Tenant will repair according to notice, reasonable wear and tear and damage by fire, lightning and tempest and other casualty against which the Landlord is insured only excepted and that it will keep and leave the Leased Premises in good repair, reasonable wear and tear and damage by fire, lighting and tempest and other casualty against which the Landlord is insured only excepted. If the Buildings, the elevators, boilers, engines, pipes and other apparatus (or any of them) used for the purpose of heating or air conditioning the Buildings or operating the elevators, or if the water pipes, drainage pipes, electric lighting or other equipment of the Buildings or the roof or outside walls become damaged or destroyed through negligence, carelessness or misuse by the Tenant, his servants, agents, employees, or anyone permitted by him to be to the Buildings, or through him or them in anyway damaging the heating apparatus, elevators, water pipes, drainage pipes or other equipment or part of the Buildings, 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, If the Tenant should fail to repair in accordance with the provisions hereof, the Landlord, its agents or employees may forthwith enter the Leased Premises and make the required repairs and for that purpose the Landlord may bring and leave upon the Leased Premises all necessary tools, materials and equipment, and the 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 liable to the contraryTenant for any inconvenience, if Landlord shall elect to repair and restore annoyance or loss of business or any injury or damages suffered by the Premises or other portion Tenant by reason 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 effecting such repairs unless caused by the negligence of the proceeds actually received from the insurance carried by Landlord pursuant to Section 7.4(a) of this LeaseLandlord, its agents or employees, and in the event expense of such repairs will be borne by the holder of any mortgage whose lien encumbers the Project causes the insurance proceeds to be applied to Landlord’s indebtedness, then Landlord Tenant who 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 pay it 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 thereofforthwith upon demand.
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 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 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 From time to give Tenant written notice of its decisions, estimates or elections under this Section 7.3 within sixty time and at all times to put and keep the Demised Premises (60) days after any such damage or destruction. If including but without prejudice to the Term generality of the Lease is foregoing the doors plate-glass and other windows window frames window glazing boundary walls internal partitioning Conducting Media and sanitary gas water heating ducting air conditioning and electrical apparatus and other plant and machinery thereof and the structural parts loadbearing framework joinery roofs roof structures xxxxx chimney stacks foundations joists main walls parapet walls external walls and exterior thereof) together with all improvements and additions to the Demised Premises and all landlord's fixtures fittings fastenings and appurtenances of whatever nature affixed or fastened to the Demised Premises in its last year of the Term when the good and substantial repair and condition free from all defects (damage or destruction occurs due to any of the Insured Risks excepted unless and Tenant has not exercised its Renewal Option (as defined to the extent that the policies of insurance in Exhibit C attached hereto), both respect of the Insured Risks effected by the Landlord and Tenant shall have are vitiated or any of the option to terminate this Lease with written notice to the other party given within sixty (60) days after the date policy monies in respect thereof are withheld or rendered irrecoverable by reason of any such damage act omission or destruction If Landlord has elected to repair and restore the Premises or other portion default of the Project (Tenant or any person deriving title from the Tenant or any employee agent licensee or invitee of the Tenant or any such other person) and if necessary from time to time to reinstate the damage whole of the Demised Premises and to renew or destruction has occurred replace forthwith by new articles of a similar kind and quality all landlord's fixtures and appurtenances and internal partitioning and plant and equipment in the last year Demised Premises which shall become in need of repair renewal or replacement at any time during or at the expiration or sooner determination 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 without prejudice 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 generality of the date of damage or destruction) foregoing to keep the Demised Premises and any other sums due all Conducting Media in a clean and owing by Landlord tidy condition and free from obstructions and 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 keep the Premises or other portion glass in the windows of the Project, Landlord shall only be obligated to restore or rebuild the Demised 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.clean
Appears in 1 contract
Samples: Steiner Leisure LTD
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 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 in accordance with the terms and provisions of this Lease, 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 except as set forth in the punch list to be delivered pursuant to Section 2.1. Notwithstanding anything to the contrary set forth in this Lease, Landlord shall be entitled responsible, at Landlord’s sole cost and expense, for the repair of any latent structural defects discovered by Tenant at any time during the Term, including any extensions thereof. 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 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 Tenant perform any maintenance unless such failure shall persist for an unreasonable time after written notice of the need of such repairs or injury maintenance is given to Landlord by Tenant. Notwithstanding anything to the business of Tenant resulting contrary provided above, Landlord shall deliver the Premises with all heating and air conditioning systems serving the Premises (collectively, the “HVAC Systems”) in good working order. In addition, Landlord shall, at its sole cost and expense and without reimbursement from Tenant, be responsible for any way from such damage or destruction or repairs and replacements that are outside the disregard scope of the regularly scheduled preventative maintenance/service contract that Tenant is required to maintain under this Lease and that are reasonably necessary to maintain said HVAC Systems in good working order, for a period of eighteen (18) months from the Commencement Date, except to the extent any such repairs or replacements are required as a result of any acts or omissions of Tenant, its agents, employees or contractors. If Tenant has not notified Landlord in writing by the expiration of such eighteen (18)-month period of any alleged repairs or replacements which Tenant claims to be necessary, Landlord shall have no further duty to complete any such alleged repairs and/or replacements pursuant to this paragraph, except as may be otherwise specifically required by this Lease. Landlord’s liability under this paragraph shall be limited to the repair thereofand/or replacement, as the case may be, of defective parts and, in no event, shall Landlord be liable for special or consequential damages. Notwithstanding the foregoing, if Tenant does not (i) enter into a regularly scheduled preventive maintenance/service contract with a maintenance contractor reasonably approved by Landlord for servicing all HVAC Systems (such approval not to be unreasonably withheld), and (ii) provide to Landlord written confirmation thereof together with a copy of the signed contract, within thirty (30) days after the date Tenant initially takes occupancy of the Premises, then all of the foregoing obligations of Landlord relative to the HVAC Systems shall be void ab initio and Landlord shall have no duty whatsoever to make any such repairs or replacements.
Appears in 1 contract
Samples: Asset Acceptance Capital Corp
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 expect that Landlord shall repair and maintain the structural portions of the roof, walls and foundation 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, 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 give to Landlord by Tenant. 7.2 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 the Tenant in good condition, promptly making all necessary repairs and replacements, whether ordinary or injury 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, and 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 the business ordinary war and from falling temporarily out of Tenant resulting 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 expected (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, invitees, or any other persons entering upon the repair thereofPremises as a result of Tenant's business activities or caused by Tenant's default hereunder.
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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 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 Tenant or injury to the business of Tenant resulting in perform any way from maintenance unless such damage or destruction or the disregard failure shall persist for an unreasonable time after written notice of the repair thereofneed 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).
Appears in 1 contract
Samples: Lease (SCM Microsystems 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.
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Repair. Landlord shall use reasonable efforts to give Tenant written notice of its decisionsExcept as otherwise provided herein, estimates or elections under this Section 7.3 within sixty (60) days after any such damage or destruction. If the Term by entry upon ------ commencement of the Lease is term hereof, the Tenant acknowledges and accepts the Premises as being in good, sanitary order, condition and repair. Except to the extent provided to the contrary in paragraph 17, the Tenant, at the Tenant's sole cost and expense, agrees to keep the Premises and every part thereof (including its last year own trade fixtures and personal property) in good condition and repair. Tenant hereby waives all rights to make repairs at the expense of the Term when Landlord as provided by law, statute or ordinance now or hereafter in effect, or to offset the damage or destruction occurs cost thereof against Rent. Except as otherwise provided in this Lease, it is specifically understood and Tenant has not exercised its Renewal Option (as defined in Exhibit C attached hereto), both agreed that the Landlord has no obligation and Tenant shall have the option has made no promises to terminate this Lease with written notice to the other party given within sixty (60) days after the date of any such damage alter, remodel, improve, repair, decorate or destruction If Landlord has elected to repair and restore paint the Premises or other portion of the Project (and if the damage or destruction has occurred any part thereof and, except as expressly set forth 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 , no representations respecting the repairs not be completed within that period, both Landlord and Tenant shall each have the option condition 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 ProjectBuilding have been made by the Landlord to the Tenant. If, in an emergency, it shall become necessary to make promptly any repairs or replacements required to be made by Tenant, Landlord shall only be obligated to restore or rebuild may reenter the Premises and proceed forthwith to have the repairs or other portion of replacements made and pay 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 Workcost thereof. 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 Within thirty (30) days after Landlord receives notice renders a xxxx therefor, Tenant shall reimburse Landlord for the cost of making the repairs. Notwithstanding anything to the contrary in this Lease, Landlord, and not Tenant, shall perform and construct, any repair, maintenance or improvement (i) required as a consequence of any violation of Law or construction defect in the Premises as of the applicable Commencement Date, (ii) for which Landlord has a right of reimbursement from its mortgagee others, (iii) which would be treated as a "capital expenditure" under generally accepted accounting principles, and (iv) to the heating, ventilating, air conditioning, electrical, water, sewer, and plumbing systems serving the Premises. Tenant' s obligation, if any, to reimburse Landlord for the costs of such election. Landlord repairs, maintenance and improvements shall not be liable for any inconvenience or annoyance to Tenant or injury to governed by the business other provisions of Tenant resulting in any way from such damage or destruction or the disregard of the repair thereofthis Lease.
Appears in 1 contract
Samples: Lease (Genesys Telecommunications Laboratories Inc)
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 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
Samples: Assignment and Assumption Agreement (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 (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: civicclerk.blob.core.windows.net
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. 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)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. 4. 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: Alloy Online Inc
