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.

Appears in 6 contracts

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

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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 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 destruction 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 23Premises.

Appears in 1 contract

Samples: Agreement of Lease (Amincor, Inc.)

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 Subtenant covenants and agrees that it will give written notice to Sublandlord of any accident or damage, whether such accident or damage is caused by insured or uninsured casualty, occurring in, on or about the Subleased Premises within five (5) business days after Subtenant has knowledge of the occurrence of such accident or damage. Notwithstanding anything herein to the terms contrary, Sublandlord shall have no obligation to repair or restore the Subleased Premises in the event of Section 23a casualty thereto.

Appears in 1 contract

Samples: Sublease 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 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.

Appears in 1 contract

Samples: Lease Agreement (Osiris Therapeutics Inc)

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