Common use of Restoration; Tenant’s Right of Termination Clause in Contracts

Restoration; Tenant’s Right of Termination. If the Premises or either of the Buildings are damaged by fire or other casualty, and this Lease is not terminated pursuant to Section 11.1, Landlord shall thereafter use reasonable efforts to restore the respective Building and the portion of the Premises (excluding any Alterations made by Tenant pursuant to Section 5.2) to proper condition for Tenant’s use and occupation, provided that Landlord shall not be obligated to expend more than the amount it actually receives in insurance proceeds as a result of such fire or other casualty, and Landlord shall not be obligated to commence restoration until Landlord has received the insurance proceeds. If, for any reason (including, without limitation, the insufficiency or unavailability of insurance proceeds), full restoration shall not be substantially completed within twelve (12) months after the expiration of the ninety-day period referred to in Section 11.1 (which twelve (12) month period may be extended for such periods of time as Landlord is prevented from proceeding with or completing such restoration due to Force Majeure, but in no event for more than an additional three (3) months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within thirty (30) days after the expiration of such period (as so extended) provided that such restoration is not completed within such period. This Lease shall cease and come to an end without further liability or obligation on the part of either party thirty (30) days after such giving of notice by Tenant unless, within such thirty-day period, Landlord substantially completes such restoration. Such right of termination shall be Tenant’s sole and exclusive remedy at law or in equity for Landlord’s failure so to complete such restoration, and time shall be of the essence with respect thereto.

Appears in 1 contract

Samples: Lease (Boston Private Financial Holdings Inc)

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Restoration; Tenant’s Right of Termination. If (a) the Premises or either of the Buildings Building are damaged by fire or other casualty, or (b) all or part of the Building is taken by right of eminent domain; and this Lease is not terminated pursuant to Section 11.114.1, Landlord shall thereafter use reasonable efforts (to the extent practicable in Landlord’s reasonable determination in light of the nature of any taking or the election by Landlord’s lender to apply all or a portion of any resulting insurance proceeds to the repayment of Landlord’s loan) to restore the respective Building and the portion of the Premises (excluding the Tenant’s Exclusive Facilities and any Alterations made by Tenant pursuant to Section 5.2Alterations) to proper condition for Tenant’s use and occupation, provided that Landlord Landlord’s obligation shall not be obligated limited to expend more than the amount it actually receives in of insurance and eminent domain proceeds as a result of such fire or other casualty, and Landlord shall not be obligated to commence restoration until Landlord has received the insurance proceedsavailable therefor. If, for any reason (includingreason, without limitation, the insufficiency or unavailability of insurance proceeds), full such restoration shall not be substantially completed within twelve (12) months after the expiration of the ninety-ninety (90) day period referred to in Section 11.1 14.1 (which twelve (12) month period may be extended for such periods of time as Landlord is prevented from proceeding with or completing such restoration due to Force Majeure, but in no event for more than an additional three (3) months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within thirty (30) days after the expiration of such period (as so extended) , provided that such restoration is not completed within such period. This Lease shall cease and come to an end without further liability or obligation on the part of either party (except with respect to obligations which are expressly stated herein to survive a termination) thirty (30) days after such giving of notice by Tenant unless, within such thirty-thirty (30) day period, Landlord substantially completes such restoration, subject to the completion of minor “punch list” items, the completion of which will not materially interfere with Tenant’s business operations. Such right of termination shall be Tenant’s sole and exclusive remedy at law or in equity for Landlord’s failure so to complete such restoration, and time shall be of the essence with respect thereto.

Appears in 1 contract

Samples: Lease Agreement (Deciphera Pharmaceuticals, Inc.)

Restoration; Tenant’s Right of Termination. If the Premises or either of the Buildings Building are damaged by fire or other casualty, and this Lease is not terminated pursuant to Section 11.112.1, Landlord shall thereafter use reasonable efforts to restore the respective Building and the portion of the Premises (excluding any Alterations made by Tenant pursuant to Section 5.2) to proper condition for Tenant’s use and occupation, provided that Landlord Landlord’s obligation shall not be obligated limited to expend more than the amount it actually receives in of insurance proceeds as a result of such fire or other casualty, and Landlord shall not be obligated to commence restoration until Landlord has received the insurance proceedsavailable therefor. If, for any reason (includingreason, without limitation, the insufficiency or unavailability of insurance proceeds), full such restoration shall not be substantially completed within twelve (12) six months after the expiration of the ninety-day period referred to in Section 11.1 (which twelve (12) six-month period may be extended for such periods of time as Landlord is prevented from proceeding with or completing such restoration due to Force Majeure, but in no event for more than an additional three (3) months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within thirty (30) days after the expiration of such period (as so extended) provided that such restoration is not completed within such period. This Lease shall cease and come to an end without further liability or obligation on the part of either party thirty (30) days after such giving of notice by Tenant unless, within such thirty-day period, Landlord substantially completes such restoration. Such right of termination shall be Tenant’s sole and exclusive remedy at law or in equity for Landlord’s failure so to complete such restoration, and time shall be of the essence with respect thereto.

Appears in 1 contract

Samples: Lease Agreement (Ameresco, Inc.)

Restoration; Tenant’s Right of Termination. If (a) the Premises or either of the Buildings Building are damaged by fire or other casualty, or (b) all or part of the Building is taken by right of eminent domain; and this Lease is not terminated pursuant to Section 11.1SECTION 12.1, Landlord shall thereafter use reasonable efforts to restore the respective Building and the portion of the Premises (excluding any Alterations made by Tenant pursuant to Section 5.2SECTION 6.2, including without limitation, the Test Pits, and Tenant's Removable Property) to proper condition for Tenant’s 's use and occupation, provided that Landlord Landlord's obligation shall not be obligated limited to expend more than the amount it actually receives in of insurance and eminent domain proceeds as a result of such fire or other casualty, and Landlord shall not be obligated to commence restoration until Landlord has received the insurance proceedsavailable therefor. If, for any reason (includingreason, without limitation, the insufficiency or unavailability of insurance proceeds), full such restoration shall not be substantially completed within twelve six (126) months after the expiration of the ninety-sixty (60) day period referred to in Section 11.1 SECTION 12.1 (which twelve six (126) month period may be extended for such periods of time as Landlord is prevented from proceeding with or completing such restoration due to Force Majeure, but in no event for more than an additional three (3) months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within thirty (30) days after the expiration of such period (as so extended) provided that such restoration is not completed within such period. This Lease shall cease and come to an end without further liability or obligation on the part of either party thirty (30) days after such giving of notice by Tenant unless, within such thirty-thirty (30) day period, Landlord substantially completes such restoration. Such right of termination shall be Tenant’s 's sole and exclusive remedy at law or in equity for Landlord’s 's failure so to complete such restoration, and time shall be of the essence with respect thereto.

Appears in 1 contract

Samples: Lease Agreement (Beacon Power Corp)

Restoration; Tenant’s Right of Termination. If (a) the Premises or either of the Buildings Building are damaged by fire or other casualty, or (b) all or part of the Building is taken by right of eminent domain; and this Lease is not terminated pursuant to Section 11.112.1, Landlord shall thereafter use reasonable diligent best efforts to restore the respective Building and the portion of the Premises (excluding any Alterations made by Tenant pursuant to Section 5.2) to proper condition for Tenant’s use and occupation, provided that Landlord shall not be obligated to expend more than the amount it actually receives in insurance proceeds as a result of such fire or other casualty, and Landlord shall not be obligated to commence restoration until Landlord has received the insurance proceeds. If, for any reason (includingreason, without limitation, the insufficiency or unavailability of insurance proceeds), full such restoration shall not be substantially completed within twelve six (126) months after the expiration of the ninety-sixty (60) day period referred to in Section 11.1 12.1 (which twelve six (126) month period may be extended for such periods of time as Landlord is prevented from proceeding with or completing such restoration due to Force Majeure, but in no event for more than an additional three (3) months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within thirty (30) days after the expiration of such period (as so extended) provided that such restoration is not completed within such period. This Lease shall cease and come to an end without further liability or obligation on the part of either party thirty (30) days after such giving of notice by Tenant unless, within such thirty-thirty (30) day period, Landlord substantially completes such restorationrestoration to Tenant’s reasonable satisfaction. Such right of termination shall be Tenant’s sole and exclusive remedy at law or in equity for Landlord’s failure so to complete such restoration, and time shall be of the essence with respect thereto.

Appears in 1 contract

Samples: Lease Agreement (Tpi Composites, Inc)

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Restoration; Tenant’s Right of Termination. If the Premises or either of the Buildings Building are damaged by fire or other casualty, and this Lease is not terminated pursuant to Section 11.1, Landlord shall thereafter use reasonable efforts to restore the respective Building and the portion of the Premises (excluding any Alterations made by Tenant pursuant to Section 5.25.2 which have not become the property of the Landlord) to proper condition for Tenant’s 's use and occupation, provided that Landlord Landlord's obligation shall not be obligated limited to expend more than the amount it actually receives in of insurance proceeds as a result available therefore, (but such limitation shall only apply if all insurance required to be maintained by Landlord hereunder is in effect at the time of such fire or other casualty, ) and Landlord shall not be obligated to commence restoration until Landlord has received the insurance proceeds. If, for any reason (includingreason, without limitation, the insufficiency or unavailability of insurance proceeds), full such restoration shall not be substantially completed within twelve six (126) months after the expiration of the ninetysixty-day period referred to in Section 11.1 (which twelve (12) six-month period may be extended for such periods of time as Landlord is prevented from proceeding with or completing such restoration due to Force Majeure, but in no event for more than an additional three (3) months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within thirty (30) days after the expiration of such period (as so extended) provided that such restoration is not completed within such period. This Lease shall cease and come to an end without further liability or obligation on the part of either party thirty (30) days after such giving of notice by Tenant unless, within such thirty-day period, Landlord substantially completes such restoration. Such right of termination shall be Tenant’s 's sole and exclusive remedy at law or in equity for Landlord’s 's failure so to complete such restoration, and time shall be of the essence with respect thereto.

Appears in 1 contract

Samples: Lease Agreement (Repligen Corp)

Restoration; Tenant’s Right of Termination. If the Premises or either of the Buildings ------------------------------------------ Building are damaged by fire or other casualty, and this Lease is not terminated pursuant to Section 11.112.1, Landlord shall thereafter use reasonable efforts to restore the respective Building and the portion of the Premises (excluding any Alterations made by Tenant pursuant to Section 5.2) to proper condition for Tenant’s 's use and occupation, provided that Landlord Landlord's obligation shall not be obligated limited to expend more than the amount it actually receives in of insurance proceeds as a result of such fire or other casualty, and Landlord shall not be obligated to commence restoration until Landlord has received the insurance proceedsavailable therefor. If, for any reason (includingreason, without limitation, the insufficiency or unavailability of insurance proceeds), full such restoration shall not be substantially completed within twelve (12) four months after the expiration of the ninety-ninety- day period referred to in Section 11.1 (which twelve (12) four-month period may be extended for such periods of time as Landlord is prevented from proceeding with or completing such restoration due to Force Majeure, but in no event for more than an additional three (3) months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within thirty (30) days after the expiration of such period (as so extended) provided that such restoration is not completed within such period. This Lease shall cease and come to an end without further liability or obligation on the part of either party thirty (30) days after such giving of notice by Tenant unless, within such thirty-day period, Landlord substantially completes such restoration. Such right of termination shall be Tenant’s Ternant's sole and exclusive remedy at law or in equity for Landlord’s 's failure so to complete such restoration, and time shall be of the essence with respect thereto.

Appears in 1 contract

Samples: Lease (Telehublink Corp)

Restoration; Tenant’s Right of Termination. If the Premises or either of the Buildings ------------------------------------------ Building are damaged by fire or other casualty, and this Lease is not terminated pursuant to Section 11.112.1, Landlord shall thereafter use reasonable efforts to restore the respective Building and the portion of the Premises (excluding any Alterations made by Tenant pursuant to Section 5.2) to proper condition for Tenant’s 's use and occupation, provided that Landlord Landlord's obligation shall not be obligated limited to expend more than the amount it actually receives in of insurance proceeds as a result of such fire or other casualty, and Landlord shall not be obligated to commence restoration until Landlord has received the insurance proceedsavailable therefor. If, for any reason (includingreason, without limitation, the insufficiency or unavailability of insurance proceeds), full such restoration shall not be substantially completed within twelve (12) six months after the expiration of the ninety-day period referred to in Section 11.1 (which twelve (12) six-month period may be extended for such periods of time as Landlord is prevented from proceeding with or completing such restoration due to Force Majeure, but in no event for more than an additional three (3) months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within thirty (30) days after the expiration of such period (as so extended) provided that such restoration is not completed within such period. This Lease shall cease and come to an end without further liability or obligation on the part of either party thirty (30) days after such giving of notice by Tenant unless, within such thirty-day period, Landlord substantially completes such restoration. Such right of termination shall be Tenant’s 's sole and exclusive remedy at law or in equity for Landlord’s 's failure so to complete such restoration, and time shall be of the essence with respect thereto.

Appears in 1 contract

Samples: Lease (PSW Technologies Inc)

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