Common use of TOTAL OR PARTIAL DESTRUCTION OF PREMISES Clause in Contracts

TOTAL OR PARTIAL DESTRUCTION OF PREMISES. a. If the Premises or the hallways, stairways or other approaches thereto are damaged by fire or other casualty but the Premises is not thereby rendered untenantable in whole or in part, Landlord, at its own expense, subject to the limitations set forth in this Lease, shall cause such damage to be repaired, and the Annual Rent and Additional Rent shall not be abated. If by reason of any damage or destruction to the Premises or the approaches, the Premises shall be rendered untenantable in whole or in part, (i) Landlord, at its option, at its own expense, subject to the limitations set forth in this Lease, may cause the damage to be repaired, and the Annual Rent and Additional Rent shall be abated proportionately as to the portion of the Premises rendered untenantable while it is untenantable, or (ii) Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within thirty (30) days from and after the occurrence of such damage or destruction, to terminate this Lease, and the Annual Rent and Additional Rent shall be adjusted as of such date of termination. In no event shall Landlord be obligated to expend for any repairs or reconstruction pursuant to this Section an amount in excess of the insurance proceeds, if any, recovered by it and allocable to the damage to the Premises after deducting therefrom Landlord's reasonable expenses in obtaining such proceeds and any amounts required to be paid to Landlord's Mortgagee. The provisions hereof are subject to the terms of Section 23. b. Notwithstanding anything set forth herein to the contrary, Tenant shall be responsible for all repairs and replacements of damage and/or destruction of the Premises necessitated by burglary or attempted burglary, or any other illegal or forcible entry into the Premises. c. Tenant covenants that it will give written notice to Landlord of any accident or damage, whether such accident or damage is caused by insured or uninsured casualty, occurring in, on, or about the Premises within one (1) business day after Tenant has or should have had knowledge of the occurrence of such accident or damage. If Tenant breaches its covenant set forth hereunder, Landlord, in addition to all other rights and remedies under this Lease, at law or in equity shall, at its option, be relieved of any of its obligations under this Section. d. If, within forty-five (45) days after the occurrence of the damage or destruction described in Section 22a, Landlord determines that in its reasonable judgment that the repairs and restoration cannot be substantially completed within 180 days after the date of such damage or destruction, and provided Landlord does not elect to terminate this Lease pursuant to this Section, then landlord shall promptly notify Tenant of such determination. For a period continuing through the later of the thirtieth (30th) day after the occurrence of the damage or destruction or the tenth (10th) day after receipt of such notice, Tenant shall have the right to terminate this Lease by providing written notice thereof to Landlord.

Appears in 2 contracts

Samples: Lease Agreement (Carrollton Bancorp), Lease Agreement (Carrollton Bancorp)

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TOTAL OR PARTIAL DESTRUCTION OF PREMISES. a. If the Premises or the hallways, stairways or other approaches thereto are damaged by fire or other casualty but the Premises is not thereby rendered untenantable in whole or in part, Landlord, at its own expense, subject to the limitations set forth in this Lease, shall cause such damage to be repaired, and the Annual Rent and Additional Rent shall not be abated. If by reason of any damage or destruction to the Premises or the approaches, the Premises shall be rendered untenantable in whole or in part, (i) Landlord, at its option, at its own expense, subject to the limitations set forth in this Lease, may cause the damage to be repaired, and the Annual Rent and Additional Rent shall be abated proportionately as to the portion of the Premises rendered untenantable while it is untenantable, or (ii) Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within thirty (30) days from and after the occurrence of such damage or destruction, to terminate this Lease, and the Annual Rent and Additional Rent shall be adjusted as of such date of termination. In no event shall Landlord be obligated to expend for any repairs or reconstruction pursuant to this Section an amount in excess of the insurance proceeds, if any, recovered by it and allocable to the damage to the Premises after deducting therefrom Landlord's reasonable expenses in obtaining such proceeds and any amounts required to be paid to Landlord's Mortgagee. The provisions hereof are subject to the terms of Section 23. b. Notwithstanding anything set forth herein to the contrary, Tenant shall be responsible for all repairs and replacements of damage and/or destruction of the Premises necessitated by burglary or attempted burglary, or any other illegal or forcible entry into the Premises. c. Tenant covenants that it will give written notice to Landlord of any accident or damage, whether such accident or damage is caused by insured or uninsured casualty, occurring in, on, or about the Premises within one (1) business day after Tenant has or should have had knowledge of the occurrence of such accident or damage. If Tenant breaches its covenant set forth hereunder, Landlord, in addition addition-to all other rights and remedies under this Lease, at law or in equity shall, at its option, be relieved of any of its obligations under this Section. d. If, within forty-five (45) days after the occurrence of the damage or destruction described in Section 22a, Landlord determines that in its reasonable judgment that the repairs and restoration cannot be substantially completed within 180 days after the date of such damage or destruction, and provided Landlord does not elect to terminate this Lease pursuant to this Section, then landlord shall promptly notify Tenant of such determination. For a period continuing through the later of the thirtieth (30th) day after the occurrence of the damage or destruction or the tenth (10th) day after receipt of such notice, Tenant shall have the right to terminate this Lease by providing written notice thereof to Landlord.

Appears in 2 contracts

Samples: Lease Agreement (Carrollton Bancorp), Lease Agreement (Carrollton Bancorp)

TOTAL OR PARTIAL DESTRUCTION OF PREMISES. a. If the Premises or the hallways, stairways or other approaches thereto are damaged by fire or other casualty but the Premises is not thereby rendered untenantable in whole or in part, Landlord, at its own expense, subject to the limitations set forth in this Lease, shall cause such damage to be repaired, and the Annual Rent and Additional Rent shall not be abated. If by reason of any damage or destruction to the Premises or the approaches, the Premises shall be rendered untenantable in whole or in part, (i) Landlord, at its option, at its own expense, subject to the limitations set forth in this Lease, may cause the damage to be repaired, and the Annual Rent and Additional Rent shall be abated proportionately as to the portion of the Premises rendered untenantable while it is untenantable, or (ii) Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within thirty (30) days from and after the occurrence of such damage or destruction, to terminate this Lease, and the Annual Rent and Additional Rent shall be adjusted as of such date of termination. In no event shall Landlord be obligated to expend for any repairs or reconstruction pursuant to this Section an amount in excess of the insurance proceeds, if any, recovered by it and allocable to the damage to the Premises after deducting therefrom Landlord's reasonable expenses in obtaining such proceeds and any amounts required to be paid to Landlord's Mortgagee. The provisions hereof are subject to the terms of Section 23. b. Notwithstanding anything set forth herein to the contrary, Tenant shall be responsible for all repairs and replacements of damage and/or destruction of the Premises necessitated by burglary or attempted burglary, or any other illegal or forcible entry into the Premises. c. Tenant covenants that it will give written notice to Landlord of any accident or damage, whether such accident or damage is caused by insured or uninsured casualty, occurring in, on, or about the Premises within one (1) business day after Tenant has or should have had knowledge of the occurrence of such accident or damage. If Tenant breaches its covenant set forth hereunder, Landlord, in addition to all other rights and remedies under this Lease, at law or in equity shall, at its option, be relieved of any of its obligations under this Section. d. If, within forty-five (45) days after the occurrence of the damage or destruction described in Section 22a, Landlord determines that in its reasonable judgment that the repairs and restoration cannot be substantially completed within 180 days after the date of such damage or destruction, and provided Landlord does not elect to terminate this Lease pursuant to this Section, then landlord shall promptly notify Tenant of such determination. For a period continuing through the later of the thirtieth (30th) day after the occurrence of the damage or destruction or the tenth (10th) day after receipt of such notice, Tenant shall have the right to terminate this Lease by providing written notice thereof to Landlord.tenth

Appears in 2 contracts

Samples: Commercial Lease (Carrollton Bancorp), Commercial Lease (Carrollton Bancorp)

TOTAL OR PARTIAL DESTRUCTION OF PREMISES. a. If As provided in the Master Lease, if the Subleased Premises or the hallways, stairways or other approaches thereto are damaged by fire or other casualty but the Premises is are not thereby rendered untenantable in whole an amount in excess of fifty percent (50%) of the entire Subleased Premises and such damage is, in the opinion of an independent architect or in partconsultant selected by Landlord, capable of being repaired using reasonable diligence within one hundred and eighty (180) days after the loss, Landlord, at its own expense, subject to the limitations set forth in this the Master Lease, shall cause such damage to be repaired, and the Annual Rent and Additional Rent shall not be abated. If As provided in the Master Lease, if by reason of any damage or destruction to the Subleased Premises or wherein the approaches, the Subleased Premises shall be rendered untenantable in whole or an amount in partexcess of fifty percent (50%) of the entire Subleased Premises, (i) Landlord, at its own option, at its own expense, subject to the limitations set forth in this the Master Lease, may cause the damage to be repairedrepaired if such damage, in the opinion of an independent architect or consultant selected by Landlord, is capable of being repaired by using reasonable diligence within one hundred and eighty (180) days after the loss, and the Annual Rent and Additional Rent shall be abated proportionately as to the portion of the Subleased Premises rendered untenantable while it is untenantable, or (ii) Landlord shall have the right, to be exercised by notice in writing delivered to Tenant Sublandlord within thirty (30) days from and after the occurrence of such damage or destruction, to terminate the Master Lease (in which event this LeaseSublease shall also terminate and Sublandlord shall so provide notice to Subtenant), and the Annual Rent and Additional Rent shall be adjusted as of such the date of terminationthe occurrence of the casualty giving rise to such loss. In As provided in the Master Lease, in no event shall Landlord be obligated to expend for any repairs or reconstruction pursuant to this Section 25 an amount in excess of the insurance proceeds, if any, recovered by it and allocable to the damage to the Subleased Premises after deducting therefrom Landlord's ’s reasonable expenses in obtaining such proceeds and any amounts required to be paid to Landlord's Mortgagee’s mortgagee. The provisions hereof are subject to the terms of Section 23. b. Notwithstanding anything set forth herein to the contrary, Tenant shall be responsible for all repairs Subtenant covenants and replacements of damage and/or destruction of the Premises necessitated by burglary or attempted burglary, or any other illegal or forcible entry into the Premises. c. Tenant covenants agrees that it will give written notice to Landlord Sublandlord of any accident or damage, whether such accident or damage is caused by insured or uninsured casualty, occurring in, on, on or about the Subleased Premises within one five (15) business day days after Tenant Subtenant has or should have had knowledge of the occurrence of such accident or damage. If Tenant breaches its covenant set forth hereunderNotwithstanding anything herein to the contrary, Landlord, in addition to all other rights and remedies under this Lease, at law or in equity shall, at its option, be relieved of any of its obligations under this Section. d. If, within forty-five (45) days after the occurrence of the damage or destruction described in Section 22a, Landlord determines that in its reasonable judgment that the repairs and restoration cannot be substantially completed within 180 days after the date of such damage or destruction, and provided Landlord does not elect to terminate this Lease pursuant to this Section, then landlord shall promptly notify Tenant of such determination. For a period continuing through the later of the thirtieth (30th) day after the occurrence of the damage or destruction or the tenth (10th) day after receipt of such notice, Tenant Sublandlord shall have no obligation to repair or restore the right to terminate this Lease by providing written notice thereof to LandlordSubleased Premises in the event of a casualty thereto.

Appears in 1 contract

Samples: Sublease Agreement (Osiris Therapeutics, Inc.)

TOTAL OR PARTIAL DESTRUCTION OF PREMISES. a. (a) If the Premises or the hallways, stairways or other approaches thereto are damaged by fire or other casualty but the Premises is are not thereby rendered untenantable in whole an amount in excess of fifty percent (50%) of the entire Premises and such damage is, in the opinion of an independent architect or in partconsultant selected by Landlord, capable of being repaired using reasonable diligence within one hundred and eighty (180) days after the loss, Landlord, at its own expense, subject to the limitations set forth in this Lease, shall cause such damage to be repaired, and the Annual Rent and Additional Rent shall not be abated. If by reason of any damage or destruction to the Premises or the approaches, wherein the Premises shall be rendered untenantable in whole or an amount in partexcess of fifty percent (50%) of the entire Premises, (i) Landlord, at its own option, at its own expense, subject to the limitations set forth in this Lease, may cause the damage to be repairedrepaired if such damage, in the opinion of an independent architect or consultant selected by Landlord, is capable of being repaired by using reasonable diligence within one hundred and eighty (180) days after the loss, and the Annual Rent and Additional Rent shall be abated proportionately as to the portion of the Premises rendered untenantable while it is untenantable, or (ii) Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within thirty (30) days from and after the occurrence of such damage or destruction, to terminate this Lease, and the Annual Rent and Additional Rent shall be adjusted as of such the date of terminationthe occurrence of the casualty giving rise to such loss. In no event shall Landlord be obligated to expend for any repairs or reconstruction pursuant to this Section 24 an amount in excess of the insurance proceeds, if any, recovered by it and allocable to the damage to the Premises after deducting therefrom Landlord's reasonable expenses in obtaining such proceeds and any amounts required to be paid to Landlord's Mortgagee. The provisions hereof are subject to the terms of Section 23mortgagee. b. Notwithstanding anything set forth herein to the contrary, Tenant shall be responsible for all repairs and replacements of damage and/or destruction of the Premises necessitated by burglary or attempted burglary, or any other illegal or forcible entry into the Premises. c. (b) Tenant covenants and agrees that it will give written notice to Landlord of any accident or damage, whether such accident or of damage is caused by insured or uninsured casualty, occurring in, on, on or about the Premises within one five (15) business day days after Tenant has or should have had knowledge of the occurrence of such accident or damage. If Tenant breaches its covenant covenants set forth hereunder, Landlord, Landlord in addition to all other rights and remedies under this Lease, at law or in equity shall, at its option, be relieved of any of its obligations under this SectionSection 24. d. If, within forty-five (45) days after the occurrence of the damage or destruction described in Section 22a, Landlord determines that in its reasonable judgment that the repairs and restoration cannot be substantially completed within 180 days after the date of such damage or destruction, and provided Landlord does not elect to terminate this Lease pursuant to this Section, then landlord shall promptly notify Tenant of such determination. For a period continuing through the later of the thirtieth (30th) day after the occurrence of the damage or destruction or the tenth (10th) day after receipt of such notice, Tenant shall have the right to terminate this Lease by providing written notice thereof to Landlord.

Appears in 1 contract

Samples: Lease Agreement (Osiris Therapeutics Inc)

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TOTAL OR PARTIAL DESTRUCTION OF PREMISES. a. (a) If the Premises or the hallways, stairways or other approaches thereto are is damaged by fire or other casualty but the Premises is not thereby rendered untenantable untenable in whole or in part, Landlord, at its own expense, subject to the limitations and restrictions set forth in this LeaseLease and the Documents, shall cause such damage to be repaired, and the Annual Rent and Additional Rent shall abate until such damage has been repaired and Tenant can operatx xxx business in whole or in part on the Premises. If by reason of any damage or destruction to the Premises the Premises shall be rendered untenable in part, Landlord, at its own expense, subject to the limitations and restrictions set forth in this Lease and the Documents, shall cause the damage to be repaired, and the Annual Rent and Additional Rent shall not be abated. If by reason of any damage or destruction to the Premises or the approachesPremises, the Premises shall be rendered untenantable in whole or in part, (i) wholly untenable Landlord, at its option, at its own expense, subject to the limitations and restrictions set forth in this LeaseLease and the Documents, may cause the damage to be repaired, and the Annual Rent and Additional Rent shall be abated proportionately as not abate. Should Landlord not elect to repair or rebuild the portion Premises xxxx in that event this Lease shall terminate upon Landlord's election not to repair or rebuild the Premises and Tenant's obligations for the payment of Rent shall terminate upon the date of Landlord's election. Landlord shall make any such election within ninety (90) days of the Premises rendered untenantable while it is untenantable, or (ii) Landlord shall have date of the right, to be exercised by notice in writing delivered to Tenant within thirty (30) days from and after casualty causing the occurrence of such damage or destruction, to terminate this Lease, and destruction of the Annual Rent and Additional Rent shall be adjusted as of such date of termination. Premises. (b) In no event shall Landlord be obligated to expend for any repairs or reconstruction pursuant to this Section an amount in excess of the insurance proceeds, if any, recovered by it and allocable to the damage to the Premises after deducting therefrom Landlord's reasonable expenses in obtaining such proceeds and any amounts required to be paid to Landlord's the Mortgagee. The provisions hereof are subject Tenant agrees that promptly after completion of any such work by Landlord it will proceed with reasonable diligence and at its sole cost and expense to the terms rebuild, repair, and restore its signs, fixtures, equipment, and other items of Section 23Tenant's Work. b. (c) Notwithstanding anything set forth herein to the contrary, Tenant shall be responsible for all repairs and replacements of damage and/or destruction of the Premises necessitated by resulting from a burglary or attempted burglary, or any other illegal or forcible entry into the Premises. c. (d) Tenant covenants that it will give written notice to Landlord of any accident or damage, whether such accident or damage is caused by insured or uninsured casualty, occurring in, on, or about the Premises within one (1) business day a reasonable time after Tenant has or should have had knowledge of the occurrence of such accident or damage. If Tenant breaches its covenant set forth hereunder, Landlord, in addition to all other rights and remedies under this Lease, at law or in equity shall, at its option, be relieved of any of its obligations under this Section. d. If, within forty-five (45e) days after the occurrence Tenant agrees that during any period of reconstruction or repair of the damage or destruction described in Section 22a, Landlord determines that in Premises it will continue the operation of its reasonable judgment that business within the repairs and restoration cannot be substantially completed within 180 days after Premises to the date of such damage or destruction, and provided Landlord does not elect to terminate this Lease pursuant to this Section, then landlord shall promptly notify Tenant of such determination. For a period continuing through the later of the thirtieth (30th) day after the occurrence of the damage or destruction or the tenth (10th) day after receipt of such notice, Tenant shall have the right to terminate this Lease by providing written notice thereof to Landlordextent reasonably practicable.

Appears in 1 contract

Samples: Lease (Amincor, Inc.)

TOTAL OR PARTIAL DESTRUCTION OF PREMISES. a. Whenever during the term the premises shall be destroyed or damaged by fire, lightning or tempest, or any of the perils insured in respect of which the Landlord is insured, the following terms shall apply: (a) If the Premises or the hallways, stairways or other approaches thereto are damaged by fire or other casualty but the Premises is not thereby rendered untenantable in whole or in part, Landlord, at its own expense, subject to the limitations set forth in this Lease, shall cause such damage to be repaired, and the Annual Rent and Additional Rent shall not be abated. If by reason of any damage or destruction is such that the premises are rendered wholly unfit for occupancy or it is impossible or unsafe to use and occupy them and if in either event, in the Premises or the approaches, the Premises shall be rendered untenantable in whole or in part, (i) Landlord, at its option, at its own expense, subject to the limitations set forth in this Lease, may cause the damage to be repaired, and the Annual Rent and Additional Rent shall be abated proportionately as to the portion reasonable opinion of the Premises rendered untenantable while it is untenantable, or (ii) Landlord shall have the rightLandlord, to be exercised by notice in writing delivered given to the Tenant within thirty ten (3010) days from and after of the occurrence happening of such damage or destruction, to the damage cannot be repaired with reasonable diligence within one hundred & twenty (120) days from the time the damage occurs, either the Landlord or the Tenant, within five (5) days next succeeding the giving of the Landlord’s opinion as aforesaid, may terminate this Leaselease by giving to the other notice in writing of such termination, in which event this lease shall be at an end from the date of such destruction or damage and the Annual Rent rent and Additional Rent all other payments for which the Tenant is liable hereunder shall be adjusted as apportioned and paid in full to the date of such destruction or damage; if neither the Landlord nor the Tenant terminates this lease as aforesaid, then the Landlord shall repair the premises with all reasonable speed and the rent hereby reserved including additional rent shall xxxxx from the date of termination. In no event shall Landlord be obligated to expend for any repairs or reconstruction pursuant to this Section an amount in excess of the insurance proceeds, if any, recovered by it and allocable to the damage to the Premises after deducting therefrom Landlord's reasonable expenses in obtaining such proceeds and any amounts required to be paid to Landlord's Mortgagee. The provisions hereof are subject to the terms of Section 23. b. Notwithstanding anything set forth herein to the contrary, Tenant shall be responsible for all repairs and replacements of damage and/or destruction of the Premises necessitated by burglary or attempted burglary, or any other illegal or forcible entry into the Premises. c. Tenant covenants that it will give written notice to Landlord of any accident or damage, whether such accident or damage is caused by insured or uninsured casualty, occurring in, on, or about the Premises within one (1) business day after Tenant has or should have had knowledge of the occurrence of such accident or damage. If Tenant breaches its covenant set forth hereunder, Landlord, in addition to all other rights and remedies under this Lease, at law or in equity shall, at its option, be relieved of any of its obligations under this Section. d. If, within forty-five (45) days after the occurrence of the damage until the premises shall have been restored to a condition fit for the Tenant’s use and occupation; (b) If the damage or destruction described in Section 22a, Landlord determines that in its reasonable judgment is such that the repairs premises are rendered wholly unfit for occupancy or it is impossible or unsafe to use and restoration cannot occupy them, but if in either event, in the reasonable opinion of the Landlord, to be substantially completed given to the Tenant within 180 ten (10) days after of the date happening of such damage or destruction, and provided Landlord does not elect to terminate this Lease pursuant to this Sectionthe damage can be repaired with reasonable diligence within one hundred & twenty (120) days from the time the damage occurs, then landlord the rent hereby reserved including additional rent shall promptly notify Tenant xxxxx from the date of such determination. For a period continuing through the later of the thirtieth (30th) day after the occurrence of the damage until the premises shall have been restored to a condition fit for the Tenant’s use and occupation, and the Landlord shall repair the damage with all reasonable speed; (c) If in the reasonable opinion of the Landlord the damage can be made good as aforesaid within one hundred & twenty (120) days of its occurrence and is such that the premises are capable of being partially used for the purposes for which the Tenant has used them, then until such damage has been repaired the rent hereby reserved including additional rent shall xxxxx in proportion as the floor area of the building rendered unfit for occupancy compares with the floor area of the whole of the building, and the Landlord shall repair the damage with all reasonable speed. Notwithstanding the provisions of this clause, in the event of damage or destruction occurring by reason of any cause in respect of which proceeds of insurance substantially sufficient to pay for the cost of rebuilding or making fit the building or the tenth (10th) day after receipt premises are not payable to or received by the Landlord, the Landlord may terminate this lease on written notice; Upon the termination of such noticethis lease, as herein before provided, rent and any other liabilities of the Tenant shall have be apportioned and paid to the right to terminate this Lease by providing written notice thereof to Landlorddate on which the damage or destruction occurred and the Tenant shall forthwith deliver up possession of the premises.

Appears in 1 contract

Samples: Lease (Hyco International, Inc.)

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