UNTENANTABILITY. In the event the Premises, Building or Project are damaged by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenant.
Appears in 3 contracts
Samples: Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc)
UNTENANTABILITY. In If the event premises or the Premises, Building or Project are damaged made unfit for occupancy by fire or other insured casualty and casualty, acts of God, or other cause, Lessor may elect (a) to terminate this Lease as of the insurance proceeds have been date when the premises or the Building are so made available therefore unfit for occupancy, by written notice to Lessee within ninety (90) days after that date, or (b) to repair, restore, or rehabilitate the holder premises or holders of any mortgages or deeds of trust, the damage shall be repaired by and Building at the Lessor's expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty eighty (120180) days after Lessor is enabled to take possession of all damaged areas and to undertake reconstruction or repairs; and if Lessor elects so to repair, restore, or rehabilitate the occurrence of such damage without premises or the payment of overtime or other premiums. Until such repairs are completedBuilding, the this Lease shall not terminate, but rent shall be abated in proportion on a per-diem basis to the part of extent and for the Premises which is unusable by Tenant in period that the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effectpremises are unfit for occupancy. In the case of repairs, which in Landlord’s opinion canevent Lessor shall proceed under (b) above and shall not be made substantially complete the work within said one hundred twenty eighty (120180) days Landlord shall notify Tenant within thirty day period (30excluding from said period loss of time resulting from delays beyond the reasonable control of Lessor) days either Lessor or Lessee may then terminate this Lease, as of the date of occurrence last day of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty eighty (120180) days of notice, then either party mayday period, by written notice to the otherother not later than ten (10) days after the expiration of said one hundred eighty (180) day period, cancel computed as herein provided, and Lessor shall have no liability to Lessee for failure to restore, repair, or rehabilitate the premises. In the event of termination of this Lease as of pursuant to this Paragraph, rent shall be apportioned on a per-diem basis to and including the effective date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such noticetermination. Except as provided in this SectionParagraph, there neither party hereto shall be no abatement of rent and no liability of Landlord have the right to terminate this Lease by reason of any injury damage to, damage or interference with Tenant’s business destruction of, the premises or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for TenantBuilding.
Appears in 3 contracts
Samples: Lease Agreement (Kids Stuff Inc), Lease Agreement (Kids Stuff Inc), Lease Agreement (Havana Group Inc)
UNTENANTABILITY. In (a) A “Total Loss” shall be deemed to have occurred if (i) the event the Premises, Building or Project are is so damaged by fire or other insured casualty that the estimated cost to repair same amounts to fifty percent (50%) or more of the total estimated construction cost of the entire Building; (ii) the Building is so damaged by fire or other casualty that Landlord, in its sole discretion, decides to demolish and not to immediately rebuild same; or (iii) the insurance proceeds have been made available therefore Leased Premises or Building is damaged by fire or other casualty during the holder or holders last 12 months of any mortgages or deeds of trust, the damage Term hereof Any other casualty loss not amounting to a Total Loss shall be repaired deemed a “Partial Loss”.
(b) In the event of a Total Loss, Landlord may terminate this Lease by and at the expense of Landlord written notice to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made Tenant within one hundred twenty (120) days after the occurrence date of such damage without the payment of overtime fire or other premiumscasualty. Until such repairs are completed, the rent Rent shall be abated apportioned on a per diem basis and paid to the date of such fire or other casualty. Alternatively, if Xxxxxxxx decides to rebuild and restore the Property following a Total Loss, this Lease shall not terminate and Landlord shall repair and restore the Leased Premises at Landlord’s expense and with due diligence, subject, however, to (i) reasonable delays for insurance adjustments and (ii) delays caused by forces beyond Landlord’s control. Rent shall xxxxx on a per diem basis during the period of construction and repair. Tenant shall permit Landlord and its contractors to have free access to the Leased Premises to perform such work.
(c) In the event of a Partial Loss, provided Landlord recovers sufficient insurance proceeds, Landlord shall be required to proceed with all due diligence to repair and restore the Leased Premises, subject, however, to (i) reasonable delays for insurance adjustments and (ii) delays caused by forces beyond Landlord’s control. Rent shall xxxxx in proportion to the part non-usability of the Leased Premises which is unusable by during the period while repairs are in progress. Tenant in the conduct of shall permit Landlord and its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed contractors to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice free access to the other, cancel this Lease as of the date of the occurrence of Leased Premises to perform such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantwork.
Appears in 3 contracts
Samples: Commercial Lease, Commercial Lease (Globoforce LTD), Commercial Lease (Globoforce LTD)
UNTENANTABILITY. In If the event the Premises, Building Leased Premises are made untenantable in whole or Project are damaged in part by fire or other insured casualty and casualty, the insurance proceeds have been Base Monthly Rent, until repairs shall be made available therefore or the Lease terminated as hereinafter provided, shall be apportioned on a per diem basis according to the part of the Leased Premises which is usable by the holder Tenant, if, but only if, such fire or holders other casualty was not caused by the fault or negligence of any mortgages the Tenant, its contractors, agents, or deeds of trust, the employees. If such damage shall be repaired by and at so extensive that the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs Leased Premises cannot, in Landlord’s sole 's opinion, be restored to tenantability by the Landlord within a period of sixty (60) days, either party shall have the right to cancel this Lease by notice to the other given at any time within sixty (60) days after the date of such damage; except that if such fire or casualty resulted from the Tenants' fault or negligence, the Tenant shall have no right to cancel. If a portion of the Building other than the Leased Premises shall be so damaged that in the opinion of the Landlord the Building should be restored in such a way as to alter the Leased Premises materially, the Landlord may cancel this Lease by notice to the Tenant given at any time within sixty (60) days after the date of such damage. If more than twenty-five percent (25%) of the Building is made untenantable by fire or other casualty (regardless of whether the Leased Premises are untenantable), Landlord may terminate this Lease by written notice to Tenant within one hundred twenty (120) days after the occurrence date of such damage without casualty. In the payment event of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion giving effective notice pursuant to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenantthis Section, this Lease and the term and the estate hereby granted shall continue in effectexpire on the date fifteen (15) days after the giving of such notice as fully and completely as if such date were the date hereinafter set for the expiration of the term of this Lease. In the case of repairsevent neither Landlord nor Tenant cancels the Lease, which in Landlord’s opinion cannot be made within one hundred twenty sixty (12060) days and Landlord shall notify Tenant within thirty (30) days of wishes to effect such restoration, the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is givenshall, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason promptly after adjustment of any injury torelevant insurance claims, damage or interference with Tenant’s business or property arising from any commence such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment thereinrestoration at Landlord's expense. Tenant understands that In no event shall Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or expend funds in excess of improvements installed in the Premises by or for Tenantits insurance recovery on such restoration.
Appears in 2 contracts
Samples: Lease (Integrated Information Systems Inc), Lease (Integrated Information Systems Inc)
UNTENANTABILITY. In If the event the Premises, Building Premises are made untenantable in whole or Project are damaged in part by fire or other insured casualty and casualty, the insurance proceeds have been Rent, until repairs shall be made available therefore or the Lease terminated as hereinafter provided, shall be apportioned on a per diem basis according to the part of the Premises which is usable by the holder Tenant, if, but only if, such fire or holders other casualty was not caused by the fault or negligence of any mortgages the Tenant, its contractors, agents, or deeds of trust, the employees. If such damage shall be repaired so extensive that the Premises cannot be restored to tenantability by and at the expense Landlord within a period of Landlord sixty (60) days, either party shall have the right to cancel this Lease by notice to the extent other given at any time within sixty (60) days after the date of such insurance proceeds available thereforedamage; except that if such fire or casualty resulted from the Tenant's fault or negligence, provided the Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the opinion of the Landlord the Building should be restored in such repairs cana way as to alter the Premises materially, in Landlord’s sole opinionthe Landlord may cancel this Lease by notice to the Tenant given at any time within sixty (60) days after the date of such damage. If more than twenty-five percent (25%) of the Building is made untenantable by fire or other casualty (regardless of whether the Premises are untenantable), be made Landlord may terminate this Lease by written notice to Tenant within one hundred twenty (120) days after the occurrence date of such damage without casualty. In the payment event of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion giving effective notice pursuant to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenantthis Section, this Lease and the term and the estate hereby granted shall continue in effectexpire on the date fifteen (15) days after the giving of such notice as fully and completely as if such date were the date hereinafter set for the expiration of the term of this Lease. In the case of repairsevent neither Landlord nor Tenant cancels the Lease, which in Landlord’s opinion cannot be made within one hundred twenty sixty (12060) days and Landlord shall notify Tenant within thirty (30) days of wishes to effect such restoration, the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is givenshall, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason promptly after adjustment of any injury torelevant insurance claims, damage or interference with Tenant’s business or property arising from any commence such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantrestoration at Landlord's expense.
Appears in 2 contracts
Samples: Lease (Integrated Information Systems Inc), Lease (Integrated Information Systems Inc)
UNTENANTABILITY. In If the event Demised Premises or the Premisesbuilding in which they are located are made unfit for occupancy by the elements, Building or Project are damaged by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustcause, the damage shall be repaired Landlord may elect to terminate this Lease as of the time when the premises or building are made unfit for occupancy, by and notice to the Tenant within forty five (45) days after that occurrence. In the alternative, Landlord may elect to repair the building or the premises at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made expense within one hundred twenty ninety (12090) days after the occurrence Landlord is enabled to take possession of such damage without the payment of overtime damaged premises and undertake reconstruction or other premiums. Until such repairs are completedrepairs, the in which event this Lease shall not terminate, but rent shall be abated in proportion on a per diem basis, prorata, for the portion of the Demised Premises rendered unfit for occupancy. If the Landlord elects to so repair, restore or rehabilitate the building or the premises and does not substantially compete the work within said ninety (90) days period, excluding from said period loss of time caused by the delay beyond the control of the Landlord, then either party may terminate this Lease as of the time when the premises or the building were made unfit for occupancy, by notice to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion canother party not be made within one hundred twenty (120) days Landlord shall notify Tenant within later than thirty (30) days after expiration of said ninety (90) day period, as so computed. In the event of termination of the Lease pursuant to this section, rent, including any escalation thereof, shall be apportioned on a per diem basis and shall be paid to the date of occurrence termination. Anything herein stated to the contrary notwithstanding, in the event that the building in which the Demised Premises are located shall be damaged in any way whatsoever, and the estimated cost of repairing such damage shall exceed one-half (1/2) of the value of the building at the time of the happening of such damage as by reason of such damage, the Landlord may decide to whether or not Landlord elects to make demolish said building and rebuild the same and, in such repairs and if no such repairs and if no such notice is givenevent, the Landlord shall be deemed have the right to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, terminate this Lease by written notice giving to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days days’ written notice of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenanttermination.
Appears in 2 contracts
Samples: Lease Agreement (Gas Natural Inc.), Lease Agreement (Energy West Inc)
UNTENANTABILITY. (a) In the event the Premises, Building or Project are damaged by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole 's reasonable opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until From the date such damages occur until such repairs are completed, the rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s 's sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s 's opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs repairs, and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s 's business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s 's furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenant.
(b) In the event that the Premises become untenantible through no fault or cause of Tenant, or Tenant's employees, agents and invitees, for a continuous period in excess of five (5) business days, Tenant's obligation to pay rent under this Agreement shall be abated from and after such five (5) business day period until such time as the Premises become tenantible.
Appears in 2 contracts
Samples: Office Lease (Elastic Networks Inc), Office Lease (Elastic Networks Inc)
UNTENANTABILITY. In the event If all or substantially all of the Premises, Building or Project in excess of thirty (30%) percent of the Building, are damaged made untenantable by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) dayscasualty, Landlord may may, at its option make these within a reasonable time andoption, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel elect:
A. To terminate this Lease as of the date of the occurrence of such damage and fire or casualty by notice to Tenant must vacate within sixty (60) days after that date; or
B. Proceed with all due diligence to repair, restore or rehabilitate the Building or the Premises within (excluding leasehold improvements installed or paid for by Tenant) at Landlord's expense, in which latter event this Lease shall not terminate. In the event the Lease is not terminated pursuant to these provisions, rent shall xxxxx only with respect to the portion of the Premises rendered untenantable on a per diem basis during the period of untenantability. In the event of the termination of this Lease pursuant to this section, rent shall be apportioned on a per diem basis and paid to the date of the fire or other casualty. If less than thirty (30%) percent of the Building or less than all or substantially all of the Premises are made untenantable as aforesaid during the last year of the Term hereof, Landlord shall have the right to terminate this Lease as of the date of the fire or other casualty by giving written notice thereof to Tenant within sixty (60) days after the date of such notice. Except as provided fire or other casualty, in this Section, there which event the rent shall be no abatement apportioned on per diem basis and paid to the date of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantcasualty.
Appears in 2 contracts
Samples: Office Lease (Biotel Inc.), Office Lease (Biotel Inc.)
UNTENANTABILITY. In (a) A “Total Loss” shall be deemed to have occurred if (i) the event the Premises, Building or Project are is so damaged by fire or other insured casualty that the estimated cost to repair same amounts to 50% or more of the total estimated construction cost of the entire Building or (ii) the Building is so damaged by fire or other casualty that Lessor, in its sole discretion, decides to demolish and not to immediately rebuild same, or (iii) the insurance proceeds have been made available therefore Leased Premises or Building is damaged by fire or other casualty during the holder or holders last 12 months of any mortgages or deeds of trust, the damage Term hereof. Any other casualty loss not amounting to a Total Loss shall be repaired deemed a Partial Loss.
(b) In the event of a Total Loss, Lessor may terminate this Lease by and at the expense of Landlord written notice to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made Lessee within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty Monthly Rent shall be apportioned on a per diem basis and paid to the date of such fire or from other casualty. Alternatively, if Lxxxxx decides to rebuild and restore the making or not making of any repairsProperty following a Total Loss, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged terminate and Lessor shall repair and restore the Leased Premises at Lessor’s expense and with due diligence, subject, however, to repair any damage thereto or replace (i) reasonable delays for insurance adjustments and (ii) delays caused by forces beyond Lessor’s control. Monthly Rent shall axxxx on a per diem basis during the sameperiod of construction and repair. Landlord Lessee shall not permit Lessor and its contractors to have free access to the Leased Premises to perform such work.
(c) In the event of a Partial Loss, provided Lessor recovers sufficient insurance proceeds. Lessor shall be required to proceed with all due diligence to repair any injury or damage and restore the Leased Premises, subject, however, to (i) reasonable delays for insurance adjustments, and (ii) delays caused by fire forces beyond Lessor’s control. Monthly Rent shall axxxx in proportion to the non-usability of the Leased Premises during the period while repairs are in progress Lessee shall perm it Lessor and its contractors to have free access to the Leased Premises to perform such work.
(d) Should Lessor fail to repair or other causeotherwise restore the Property or Leased Premises as required or otherwise elected herein, or the Lessee’s sole and exclusive remedy shall be to make any repairs or replacements to or terminate this Lease, with Monthly Rent due only through the date of improvements installed in the Premises by or for TenantUntenantability.
Appears in 2 contracts
Samples: Lease Agreement (CardieX LTD), Lease Agreement (CardieX LTD)
UNTENANTABILITY. In If the event Demised Premises or the Premisesbuilding in which they are located are made unfit for occupancy by the elements, Building or Project are damaged by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustcause, the damage shall be repaired Landlord may elect to terminate this Lease as of the time when the premises or building are made unfit for occupancy, by and notice to the Tenant within forty five (45) days after that occurrence. In the alternative, Landlord may elect to repair the building or the premises at the Landlord's expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty ninety (12090) days after the occurrence Landlord is enabled to take possession of such damage without the payment of overtime damaged premises and undertake reconstruction or other premiums. Until such repairs are completedrepairs, the in which event this Lease shall not terminate, but rent shall be abated in proportion on a per diem basis, prorata, for the portion of the Demised Premises rendered unfit for occupancy. If the Landlord elects to so repair, restore or rehabilitate the building or the premises and does not substantially compete the work within said ninety (90) days period, excluding from said period loss of time caused by the delay beyond the control of the Landlord, then either party may terminate this Lease as of the time when the premises or the building were made unfit for occupancy, by notice to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion canother party not be made within one hundred twenty (120) days Landlord shall notify Tenant within later than thirty (30) days after expiration of said ninety (90) day period, as so computed. In the event of termination of the Lease pursuant to this section, rent, including any escalation thereof, shall be apportioned on a per diem basis and shall be paid to the date of occurrence termination. Anything herein stated to the contrary notwithstanding, in the event that the building in which the Demised Premises are located shall be damaged in any way whatsoever, and the estimated cost of repairing such damage shall exceed one-half (1/2) of the value of the building at the time of the happening of such damage as by reason of such damage, the Landlord may decide to whether or not Landlord elects to make demolish said building and rebuild the same and, in such repairs and if no such repairs and if no such notice is givenevent, the Landlord shall be deemed have the right to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, terminate this Lease by written notice giving to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days days' written notice of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenanttermination.
Appears in 1 contract
UNTENANTABILITY. In the event the Premises, Building or Project are damaged by Tenant shall give prompt notice to Landlord in case of any fire or other insured casualty damage to the premises. If (a) the premises shall be damaged to the extent of thirty per cent (30%) or more of the cost of replacement thereof during the last two (2) years of the Term or (b) the Building shall be damaged to the extent of fifty per cent (50%) or more of the cost of replacement thereof whether or not the Premises shall be damaged, then in either of such events, Landlord shall have the right and option to cancel this Lease by written notice within ninety (90) days after the date of such occurrence, and thereupon this Lease shall cease and terminate with the same force and effect as though such date were the date fixed for the expiration of the Term. In such case, Tenant shall vacate and surrender the Premises to Landlord. Tenant's liability for the Rents and other charges reserved hereunder, excluding indemnity obligations of Tenant, shall cease as of the date of such damage or destruction and landlord shall make an equitable refund of any Rents or other charges paid by Tenant in advance and not earned or accrued. Landlord shall not be liable to repair and replace leasehold improvements unless same are covered pursuant to this Lease, by insurance and then only to the extent of the insurance proceeds have been made available therefore received by Landlord therefor. Unless this Lease is terminated by Landlord as aforesaid, this Lease shall remain in full force and effect and the holder or holders parties waive the provisions of any mortgages or deeds of trustlaw to the contrary, and Landlord and Tenant agree that the damage Premises shall be repaired and restored with due diligence to substantially the condition thereof immediately prior to such damage or destruction. In no event shall Landlord be required to replace or restore additions, improvements or alterations to the Premises made by and or at the expense of Tenant (including construction work in excess of the established standards for the Building) unless Landlord shall have received the proceeds of the insurance policies mentioned under Section 17(B)(i), and in such event, Landlord's obligation shall be limited to the extent amount of such insurance proceeds available thereforeactually received by Landlord. Landlord shall have no obligation to replace or restore office furniture or equipment, provided such repairs cantrade fixtures, merchandise, samples, supplies or any other items of Tenant's property in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence Premises or the Building. If by reason of such damage without the payment of overtime fire or other premiums. Until such repairs casualty the Premises are completedrendered wholly untenantable, the rent Rent shall be abated, or if only partially damaged, the Rent shall be abated in proportion proportionately as to the part that portion of the Premises which is unusable by Tenant rendered untenantable; in the conduct of its business. If repairs cannoteither event, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within until thirty (30) days of the date of occurrence of such damage as after notice by Landlord to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate that the Premises within thirty (30) days of such notice. Except as provided have been substantially repaired and restored or until Tenant's operations are substantially restored in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the entire Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord whichever shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantoccur sooner.
Appears in 1 contract
Samples: Lease (Success Bancshares Inc)
UNTENANTABILITY. In If the event Demised Premises or the Premisesbuilding in which they are located are made unfit for occupancy by the elements, Building or Project are damaged by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustcause, the damage shall be repaired Landlord may elect to terminate this Lease as of the time when the premises or building are made unfit for occupancy, by and notice to the Tenant within ninety (90) days after that occurrence. In the alternative, Landlord may elect to repair the building or the premises at the Landlord's expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty eighty (120180) days after the occurrence Landlord is enabled to take possession of such damage without the payment of overtime damaged premises and undertake reconstruction or other premiums. Until such repairs are completedrepairs, the in which event this Lease shall not terminate, but rent shall be abated in proportion on a per diem basis, prorata, for the portion of the Demised Premises rendered unfit for occupancy. If the Landlord elects to so repair, restore or rehabilitate the building or the premises and does not substantially compete the work within said one hundred eighty (180) days period, excluding from said period loss of time caused by the delay beyond the control of the Landlord, then either party may terminate this Lease as of the time when the premises or the building were made unfit for occupancy, by notice to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion canother party not be made within one hundred twenty (120) days Landlord shall notify Tenant within later than thirty (30) days after expiration of said one hundred eighty (180) day period, as so computed. In the event of termination of the Lease pursuant to this section, rent, including any escalation thereof, shall be apportioned on a per diem basis and shall be paid to the date of occurrence termination. Anything herein stated to the contrary notwithstanding, in the event that the building in which the Demised Premises are located shall be damaged in any way whatsoever, and the estimated cost of repairing such damage shall exceed one-half (1/2) of the value of the building at the time of the happening of such damage as by reason of such damage, the Landlord may decide to whether or not Landlord elects to make demolish said building and rebuild the same and, in such repairs and if no such repairs and if no such notice is givenevent, the Landlord shall be deemed have the right to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, terminate this Lease by written notice giving to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days days' written notice of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenanttermination.
Appears in 1 contract
UNTENANTABILITY. In If the event the Premises, Building Premises are made untenantable in whole or Project are damaged in part by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustRent, the damage until repairs shall be repaired by and at made or the expense of Landlord to the extent of such insurance proceeds available thereforeLease terminated as hereinafter provided, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion apportioned on a per them basis according to the part of the Premises which is unusable usable by Tenant in the conduct Tenant, if, but only if, such fire or other casualty be not caused by the fault or negligence of the Tenant, its businesscontractors, agents, or employees. If repairs cannot, in Landlord’s sole opinion such damage shall be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In so extensive that the case of repairs, which in Landlord’s opinion Premises cannot be made restored to Building Standard by the Landlord within one hundred twenty a period of four (1204) days Landlord months, either party shall notify Tenant have the right to cancel this Lease by notice to the other given at any time within thirty (30) days of after the date of occurrence such damage, except that if such fire or casualty resulted from the Tenant's fault or negligence the Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the opinion of the Landlord the Building should be restored in such damage a way as to whether or not alter the Premises materially, the Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, may cancel this Lease by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises given at any time within thirty (30) days after the date of such noticedamage. Except as provided in In the event of giving effective notice pursuant to this Section, there this Lease and the term and the estate hereby granted shall expire on the date fifteen (15) days after the giving of such notice as fully and completely as if such date were the date hereinbefore set for the expiration of the Term of this Lease. If this Lease is not so terminated, the Landlord will promptly repair the damage; however, no damage, compensation, or claim shall be no abatement payable by Landlord for any inconvenience, loss of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property annoyance arising from any such the fire or other casualty or from the making any repair or not making restoration of any repairs, alterations or improvements in or to any portion of the Premises, Building Premises or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for TenantBuilding.
Appears in 1 contract
Samples: Lease Agreement (Matrix Bancorp Inc)
UNTENANTABILITY. In If the event Premises or the Premises, Building or Project are any substantial part of either is damaged or destroyed by fire or other insured casualty, cause or condition whatsoever, such that the damage or destruction cannot be repaired within one hundred fifty (150) days, Landlord may, by written notice to Tenant given within thirty (30) days after such damage, terminate this Lease as to all the Premises covered by this Lease. If the Premises are damaged or the access or use thereof is materially impaired by the damage, then Landlord's termination shall be effective as of the date of such damage; otherwise said termination shall be effective thirty (30) days after receipt of such notice by Tenant. Landlord agrees to give notice (the "Repair Notice") to Tenant within twenty (20) days after Tenant notifies Landlord of any such fire or other casualty and requests a Repair Notice; the insurance proceeds have been made available therefore Repair Notice will state the time Landlord requires to repair and restore the Premises and/or Building and will contain either a promise by Landlord to complete the holder repairs and restoration within such time (subject to force majeure), or holders a statement by Landlord that it elects to terminate by reason of any mortgages or deeds of trust, the damage shall be repaired not being repairable within one hundred fifty (150) days. If the Repair Notice is not given by and at Landlord within the expense of time required or does not contain a promise by Landlord to the extent of such insurance proceeds available therefore, provided complete such repairs canand restoration within the Required Time (as defined below), in Landlord’s sole opinion, be made Tenant may terminate this Lease by written notice to Landlord provided that Tenant gives such notice within thirty (30)days after expiration of the twenty (20) day period specified above. The "Required Time" means one hundred twenty (120) days after the occurrence of such with respect to any damage without the payment of overtime that renders thirty percent (30%) or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part less of the Premises which is unusable by Tenant unstable for the purposes contemplated herein and one hundred fifty (150) days for any other damage. If Landlord fails to complete repairs and restoration within the time stated in the conduct Repair Notice to Tenant other than as a result of its businessforce majeure, Tenant shall be entitled to terminate this Lease by written notice given to Landlord before the applicable repairs and restoration are complete; provided, however, that before terminating this Lease pursuant to this sentence, Tenant must first give Landlord at least fifteen (15) days’ notice of Tenant's intention to terminate. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty such fifteen (12015) daysday period, Landlord may at its option make these within a reasonable time andcompletes the repairs and restoration required of it, if agreed Tenant shall have no further right to by Tenant, terminate this Lease shall continue in effectpursuant to the preceding sentence. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage Unless this Lease is terminated as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is givenhereinabove provided, Landlord shall be deemed proceed with due diligence to have elected restore, repair and replace the Premises and Building to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to substantially the other, cancel this Lease same condition as they were in as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions Commencement Date of this Lease and that Landlord from and after the date of such damage until the date of completion of said repairs, replacements and restorations, a just proportion of Rent herein shall not be obliged xxxxx according to repair any damage thereto or replace the sameextent the full use and enjoyment of the Premises are materially impaired by reason of such damage. Landlord shall not be required under no duty to repair restore any injury alterations, improvements or damage caused additions made by fire Tenant. Landlord's obligations under this Section shall be limited to the extent of insurance proceeds payable as a result of the casualty, cause or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantcondition.
Appears in 1 contract
UNTENANTABILITY. In If the event the Premises, Building Premises are made untenantable in whole or Project are damaged in part by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustRent, the damage until repairs shall be repaired by and at made or the expense of Landlord to the extent of such insurance proceeds available thereforeLease terminated as hereinafter provided, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion apportioned on a per diem basis according to the part of the Premises which is unusable usable by the Tenant, if, but only if, such fire or other casualty be not caused by the gross negligence or willful misconduct of the Tenant, its contractors, agents, or employees. If such damage shall be so extensive that the Premises cannot be restored to Building Standard by the Landlord within a period of four (4) months, either party shall have the right to cancel this Lease by notice to the other given at any time within thirty (30) days after the date of such damage, except that if such fire or casualty resulted from the gross negligence or willful misconduct of Tenant the Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the conduct opinion of its business. If repairs cannotthe Landlord the Building should be restored in such a way as to alter the Premises materially, in Landlord’s sole opinion be made within one hundred twenty (120) days, the Landlord may cancel this Lease by notice to the Tenant given at its option make these any time within a reasonable time and, if agreed thirty (30) days after the date of such damage. In the event of giving effective notice pursuant to by Tenantthis section, this Lease and the term and the estate hereby granted shall continue in effectexpire on the date fifteen (15) days after the giving of such notice as fully and completely as if such date were the date hereinbefore set for the expiration of the Term of this Lease. If this Lease is not so terminated, the Landlord will promptly repair the damage. In the case event that Landlord has not completed any such repairs within six (6) months after the date of repairscasualty (as the same may be extended, which in not to exceed eight [8] months after the date of casualty, due to delays outside Landlord’s opinion cannot be made within one hundred twenty reasonable control) (120) days the “Outside Repair Date”), at any time after the Outside Repair Date, but prior to the date that such repairs are completed, Tenant may give notice to Landlord shall notify Tenant of its intent to terminate this Lease, and if Landlord still fails to complete the repairs within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of Tenant’s notice, then either party Tenant may, by written notice to the otheras its sole and exclusive remedy, cancel terminate this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for TenantLease.
Appears in 1 contract
UNTENANTABILITY. In the event that the Premises, Building or Project Premises are damaged by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders rendered Untenantable (hereinafter defined) because of any mortgages failure by Landlord to provide the services required under Section 5.2, because the Premises are rendered inaccessible, or deeds because of trustLandlord’s failure to perform any repairs or maintenance required to be furnished by Landlord pursuant to Section 4.2 hereof, and: (i) such failure is reasonably within the damage shall be repaired by and at the expense ability of Landlord to prevent or remedy; and (ii) Tenant does not in fact use the extent Premises for the operation of its business during the entirety of such insurance proceeds available thereforeperiod of Untenantability, provided then:
(a) if such repairs can, in Landlord’s sole opinion, be made within one hundred twenty Untenantability continues for a period of five (1205) consecutive business days after Tenant provides written notice to Landlord of the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completedUntenantability, the rent then Base Rental and Pass-Through Expenses hereunder shall be abated in proportion to from the part date on which Tenant first provided Landlord notice of the Premises which is unusable by Tenant in Untenantability and continuing until the conduct Untenantability ceases; and
(b) if such Untenantability continues for a period of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) consecutive days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by after Tenant provides written notice to Landlord of the otherUntenantability, cancel then Tenant shall have the right to terminate this Lease effective immediately by sending a written termination notice to Landlord at any time after the thirtieth (30th) consecutive day of Untenantability but prior to the date on which the Untenantability ceases. Upon any termination of the Lease in accordance with this Section 5.3(b), the Lease shall automatically terminate as of the date of the occurrence of such damage Tenant’s notice and Landlord and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall each be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising released from any and all obligations or liabilities under the Lease accruing after such fire or other casualty or from date, except for any obligations and liabilities which expressly survive any termination of this Lease. At Landlord’s request, Tenant shall promptly execute and return to Landlord a termination agreement prepared by Landlord documenting the making or not making termination of this Lease pursuant to this Section 5.3(b), which obligation shall survive any repairs, alterations or improvements in or termination of this Lease pursuant to this Section 5.3(b).
(c) The parties agree to cooperate and use reasonable efforts to correct any portion Untenantability of the Premises. As used herein, Building or Project or in or the term “Untenantability” means that the Premises are rendered unusable for general office use. Notwithstanding anything to fixturesthe contrary contained herein, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of Section 4.6, and not this Lease Section 5.3, shall govern and that Landlord shall not be obliged to repair control any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage circumstances in which Untenantability is caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenanta Casualty.
Appears in 1 contract
Samples: Office Lease (Connecture Inc)
UNTENANTABILITY. In If either the event the Premises, Building Office or Project Warehouse spaces are damaged made untenantable by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustcause, the Landlord may elect (a) to terminate this Agreement as of the date of such casualty by notice to the Tenant within thirty days after that date, or (b) to have the Landlord repair all damage to Office or Warehouse space so that the same shall be repaired by and at restored to such condition as existed immediately prior to such damage. If the expense of Landlord elects to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completedterminate this Agreement, the rent shall be abated in proportion on a per-diem basis and be paid to the part date of the fire or casualty. If the Landlord elects to restore the Premises which and Building, such restoration shall be completed with reasonable promptness. If the Premises are unusable during such restoration, or if the Tenant is unusable by reasonably required to close its operation while such repairs are made, the rent shall xxxxx during such period of repair while such operations have ceased and the Premises are completely closed. If the Tenant continues to operate on the specific Premises during such repairs, but is unable to use a substantial portion of the specific Premises, then the rent shall be prorated in the conduct proportion which the area of its businessunusable leased space bears to the total specific Premises for the period that said space is unusable. The Landlord will not be liable for business losses to the Tenant by reason of damage to the specific Premises. If repairs cannotthe untenantability is caused by the fault of the Tenant, there will be no apportionment or abatement of rent. Nothwithstanding anything contained in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time andthis Section 10 to the contrary, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion specific Premises are not or cannot be made tenantable within one hundred twenty (120) 90 days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of after the date of the occurrence of such damage casualty for any reason whatsoever, the Tenant may terminate this Agreement and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantlease.
Appears in 1 contract
UNTENANTABILITY. In If the event the Premises, Building or Project Premises are damaged made untenantable in whole of in part by fire or other insured casualty and casualty, the insurance proceeds have been Rent, until repairs shall be made available therefore or the Lease terminated as hereinafter provided, shall be apportioned on a per diem basis according to the part of the Premises which is usable by the holder Tenant, if, but only if, such fire or holders other casualty was not caused by the fault or negligence of any mortgages the Tenant, its contractors, agents, or deeds of trust, the employees. If such damage shall be repaired so extensive that the Premises cannot be restored to tenantability by and at the expense Landlord within a period of Landlord one hundred eighty (180) days, either party shall have the right to cancel this Lease by notice to the extent other given at any time within sixty (60) days after the date of such insurance proceeds available thereforedamage; except that if such fire or casualty resulted from the Tenant's fault or negligence, provided the Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the opinion of the Landlord the Building should be restored in such repairs cana way as to alter the Premises materially, in Landlord’s sole opinionthe Landlord may cancel this Lease by notice to the Tenant given at any time within sixty (60) days after the date of such damage. If more than twenty-five percent (25%) of the Building is made untenantable by fire or other casualty (regardless of whether the Premises are untenantable), be made Landlord may terminate this Lease by written notice to Tenant within one hundred twenty (120) days after the occurrence date of such damage without casualty. In the payment event of overtime or other premiums. Until giving effective notice pursuant to this Section, this Lease and the term and the estate hereby granted shall expire on the date fifteen (15) days after the giving of such repairs are completed, notice as fully and completely as if such date were the rent shall be abated in proportion to date hereinafter set for the part expiration of the Premises which is unusable by term of this Lease. In the even neither Landlord not Tenant cancels the Lease, or if in the conduct of its business. If repairs cannot, in Landlord’s sole 's opinion the Premises can be made restored to tenantability within one hundred twenty eighty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120180) days and Landlord shall notify Tenant within thirty (30) days of wishes to effect such restoration, the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is givenshall, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason promptly after adjustment of any injury torelevant insurance claims, damage or interference with Tenant’s business or property arising from any commence such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantrestoration at Landlord's expense.
Appears in 1 contract
Samples: Assignment and Assumption of Lease (Integrated Information Systems Inc)
UNTENANTABILITY. In If the event the Premises, Building Premises are made untenantable in whole or Project are damaged in part by fire or other insured casualty and casualty, the insurance proceeds have been Rent, until repairs shall be made available therefore or the Lease terminated as hereinafter provided, shall be apportioned on a per diem basis according to the part of the Premises which is usable by the holder Tenant, if, but only if, such fire or holders other casualty was not caused by the fault or negligence of any mortgages the Tenant, its contractors, agents, or deeds of trust, the employees. If such damage shall be repaired so extensive that the Premises cannot be restored to tenantability by and at the expense Landlord within a period of Landlord one hundred eighty (180) days, either party shall have the right to cancel this Lease by notice to the extent other given at any time within sixty (60) days after the date of such insurance proceeds available thereforedamage; except that if such fire or casualty resulted from the Tenants fault or negligence, provided the Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the opinion of the Landlord the Building should be restored in such repairs cana way as to alter the Premises materially, in Landlord’s sole opinionthe Landlord may cancel this Lease by notice to the Tenant given at any time within sixty (60) days after the date of such damage. If more than twenty-five percent (25%) of the Building is made untenantable by fire or other casualty (regardless of whether the Premises are untenantable), be made Landlord may terminate this Lease by written notice to Tenant within one hundred twenty (120) days after the occurrence date of such damage without casualty. In the payment event of overtime or other premiums. Until giving effective notice pursuant to this Section, this Lease and the term and the estate hereby granted shall expire on the date fifteen (15) days after the giving of such repairs are completed, notice as fully and completely as if such date were the rent shall be abated in proportion to date hereinafter set for the part expiration of the Premises which is unusable by term of this Lease. In the even neither Landlord not Tenant cancels the Lease, or if in the conduct of its business. If repairs cannot, in Landlord’s sole 's opinion the Premises can be made restored to tenantability within one hundred twenty eighty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120180) days and Landlord shall notify Tenant within thirty (30) days of wishes to effect such restoration, the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenant.shall,
Appears in 1 contract
Samples: Lease (Business Resource Group)
UNTENANTABILITY. In If the event the Premises, Building Premises are made untenantable in whole or Project are damaged in part by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustcasualty, the damage fixed monthly rent, additional rent and other charges, until repairs shall be repaired by and at made or the expense of Landlord to the extent of such insurance proceeds available thereforeLease terminated as hereinafter provided, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be proportionately abated in proportion on a per diem basis according to the part of the Premises which is unusable reasonably usable by Tenant in for the conduct normal operation of its business. If repairs cannot, in Landlord’s sole opinion such damage shall be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In so extensive that the case of repairs, which in Landlord’s opinion Premises cannot be made restored by Landlord within one hundred twenty a period of four (1204) days months, Landlord and Tenant shall notify Tenant have the right to cancel this Lease by notice to the other given at any time within thirty (30) days of after the date of occurrence such damage. If a portion of the Building other than the Premises shall be so damaged that in the reasonable judgment of Landlord the Building should be restored in such damage a way as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is givenalter the Premises materially, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, may cancel this Lease as of the date of the occurrence of such damage and by notice to Tenant must vacate the Premises given at any time within thirty (30) days after the date of such noticedamage. Except as provided in In the event of giving effective notice pursuant to this Sectionparagraph, there this Lease and the term and the estate hereby granted shall be no abatement expire on the earlier to occur of rent (i) the date fifteen (15) days after the giving of such notice and no liability (ii) the date on which Tenant is forced to cease normal operation of Landlord by reason of any injury to, damage or interference with Tenant’s its business or property arising from any such fire or other casualty or from the making or Premises as a result of such damage, as fully and completely as if such date were the date hereinbefore set for the expiration of the term of this Lease. If this Lease is not making of any repairsso terminated, alterations or improvements in or Landlord will promptly (taking into account the time necessary to any portion of effectuate a satisfactory settlement with Landlord's insurance company) restore the damage to the Building and/or the Premises, Building or Project or in or to fixtures, appurtenances and equipment thereinas the case may be. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under hereby expressly waives the provisions of Section 227 of the New York Real Property Law and agrees that the foregoing provisions of this Lease Paragraph 11.01 shall govern and that Landlord shall not be obliged control in lieu thereof. Anything contained in the foregoing to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other causecontrary notwithstanding, if the Premises, or to make any repairs material portion thereof and/or Tenant's reasonable access thereto, and/or Tenant's reasonable use of the Designated Parking Spaces (or replacements to reasonable alternative parking facilities) shall be so damaged or of improvements installed in the Premises by or for impaired that Tenant.'s
Appears in 1 contract
UNTENANTABILITY. In If the event premises or the Premises, Building or Project are damaged made unfit for occupancy by fire or other insured casualty casualty, acts of God, or other cause, and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall cannot be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty ninety (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (12090) days, Landlord either Lessee or Lessor may at its option make these within a reasonable time and, if agreed elect (a) to by Tenant, terminate this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days as of the date of occurrence of such damage as to whether when the premises or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be the Building are so made within one hundred twenty (120) days of notice, then either party mayunfit for occupancy, by written notice to the otherother party, cancel or (b) to repair, restore, or rehabilitate the premises or the Building at Lessor's expense within one hundred eighty (180) days after Lessor is enabled to take possession of all damaged areas and to undertake reconstruction or repairs; and if Lessor elects so to repair, restore, or rehabilitate the premises or the Building, this Lease shall not terminate, but rent shall be abated on a per-diem basis to the extent and for the period that the premises are unfit for occupancy. In the event Lessor shall proceed under (b) above and shall not substantially complete the work within said one hundred eighty (180) day period (excluding from said period loss of time resulting from delays beyond the reasonable control of Lessor) either Lessor or Lessee may then terminate this Lease, as of the last day of such one hundred eighty (180) day period, by written notice to the other not later than ten (10) days after the expiration of said one hundred eighty (180) day period, computed as herein provided, and Lessor shall have no liability to Lessee for failure to restore, repair, or rehabilitate the premises. In the event of termination of this Lease pursuant to this Paragraph, rent shall be apportioned on a per-diem basis to and including the effective date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such noticetermination. Except as provided in this SectionParagraph, there neither party hereto shall be no abatement of rent and no liability of Landlord have the right to terminate this Lease by reason of any injury damage to, damage or interference with Tenant’s business destruction of, the premises or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for TenantBuilding.
Appears in 1 contract
UNTENANTABILITY. In the event the Premises, Building or Project are damaged by (1) If any fire or other casualty (whether insured casualty or uninsured) renders all or a substantial portion of the Premises or the Building Untenantable (and the insurance proceeds have been made available therefore by term "Untenantable" as used in this Article 14 shall include inaccessibility of the holder or holders of any mortgages or deeds of trustPremises such that Tenant is unable to and does not use the Premises), the damage shall be repaired by and at the expense of Landlord to the extent of such insurance proceeds available thereforeshall, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days with reasonable promptness after the occurrence of such damage without damage, reasonably estimate the payment length of overtime or other premiums. Until such repairs are completed, time that will be required to Substantially Complete the rent repair and restoration and shall be abated in proportion to the part of the Premises which is unusable by notice advise Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairsestimate ("Landlord's Notice"). If Landlord elects not reasonably estimates that the amount of time required to make Substantially Complete such repairs or if said repairs cannot be made within repair and restoration will exceed one hundred twenty eighty (120180) days (or sixty (60) days during the last two (2) Lease Years of noticethe then applicable Term provided, if Tenant then properly elects to extend the Term of this Lease, then either party maythe 180-day test shall apply, by written notice in place of the 60-day test) from the date such damage occurred, then: (a) if the Premises is rendered completely Untenantable, Tenant shall have the right to the other, cancel terminate this Lease as of the date of such damage upon giving written notice to the occurrence other at any time within twenty (20) days after delivery of Landlord's Notice, and (b) Landlord shall have the right to terminate this Lease if Landlord terminates the leases of all similarly situated tenants (i.e., Landlord does not discriminate against Tenant in terminating this Lease) or if Landlord does not intend to rebuild the Building in its current form, and Landlord's Notice may also constitute such notice of termination. The term "Untenantable" as used in this Article Fourteen shall mean: (i) with respect to all or part of the Premises (as applicable), that as a result of the casualty, Tenant is unable to conduct its business in the affected portion of the Premises in substantially the manner that it was conducting its business prior to the casualty and does not use the portion of the Premises so affected, and (ii) with respect to the Building other than the Premises, that as a result of the casualty, Landlord and other occupants of the Building are unable to conduct their respective businesses in substantially the manner that they were conducting such businesses prior to the casualty and do not use the Building. In the event that this Lease is not terminated and Tenant continues to operate its business at the Premises during the reconstruction of the Building, Landlord shall, in its performance of such damage and Tenant must vacate construction, use reasonable efforts to minimize disruption and/or inconvenience to Tenant's business; provided, however, that the Premises within thirty (30) days parties acknowledge that some disruption and/or inconvenience will inevitably occur due to the performance of such notice. Except reconstruction work.
(2) Unless this Lease is terminated as provided in the preceding subsection, Landlord shall proceed with reasonable promptness to repair and restore the Premises to its condition as existed prior to such casualty, subject to reasonable delays for insurance adjustments and Force Majeure delays, and also subject to zoning laws and building codes then in effect. Landlord shall have no liability to Tenant, and Tenant shall not be entitled to terminate this SectionLease if such repairs and restoration are not in fact completed within the time period estimated by Landlord so long as Landlord shall proceed with reasonable diligence to complete such repairs and restoration. However, there if said repairs and restoration are not completed within the time period estimated by Landlord, plus additional time (up to one (1) year after the date of the casualty) for Force Majeure delays and insurance adjustments, Tenant shall any time thereafter be entitled to terminate this Lease by five (5) days notice to Landlord.
(3) Tenant acknowledges that, in the event that the Premises are to be repaired and restored by Landlord, Landlord shall be no abatement of rent and no liability of Landlord by reason entitled to the full proceeds of any injury tocasualty insurance coverage, damage whether carried by Landlord or interference with Tenant’s business or property arising from any , for damages to the Premises, and Landlord covenants to insure the Tenant Additions as required pursuant to Article 16. In the event that this Lease is terminated under this Section 14, then such fire or other insurance proceeds attributable to the Tenant Work shall be payable to Landlord and Tenant, respectively, in the same proportions that the Improvement Allowance paid by Landlord to Tenant pursuant to Exhibit B and Tenant's direct costs paid to third parties for the Tenant Work, respectively, bear to the total cost of the Tenant Work completed pursuant to Exhibit B. These proportions shall govern the disposition of casualty or from insurance proceeds attributable to Tenant Work in the making Initial Premises in the event this Lease is terminated pursuant to this Section 14 regardless of whether or not making of any repairs, alterations or improvements are made to the Initial Premises after completion of the Tenant Work and regardless of whether such alterations or improvements are paid for by Landlord or Tenant. These proportions shall also govern the disposition of casualty insurance proceeds in or the event this Lease is terminated pursuant to this Section 14, which proceeds are payable with respect to any portion tenant work in space added to the Initial Premises during the Term (whether such space is added pursuant to options contained in this Lease or otherwise) regardless of whether or not alterations or improvements are made to such space and regardless of whether such alterations or improvements are paid for by Landlord or Tenant. The parties shall cooperate reasonably and in good faith to establish the proportions referred to above within a reasonable time after final completion of the PremisesTenant Work. In any case, Building or Project or in or Tenant shall be entitled to fixtures, appurtenances receive all proceeds of Tenant's insurance of its own personal property and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment which would be removable by Tenant under at the Termination Date.
(4) Notwithstanding anything to the contrary herein set forth, provided that Landlord complies with its obligation to maintain the insurance it is required to carry pursuant to Article 16, except for deductibles and costs of adjustment, Landlord shall have no duty pursuant to this Section to expend for any repair or restoration of the Premises (including, without limitation, the Tenant Additions) or Building amounts in excess of insurance proceeds paid to Landlord and available for repair or restoration, unless Tenant makes available to Landlord any shortfall required to complete any such repair or restoration.
(5) Any repair or restoration of the Premises performed by Tenant shall be in accordance with the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for TenantArticle Nine hereof.
Appears in 1 contract
UNTENANTABILITY. In If a substantial portion of the event demised premises or the Premises, Building or Project are damaged is made untenantable by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) dayscasualty, Landlord may at its option make these within a reasonable time and, if agreed elect:
(a) to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel terminate this Lease as of the date of the occurrence of fire or casualty by notice to the Tenant within ninety (90) days after that date, or
(b) proceed with all due diligence to repair, restore or rehabilitate the Building or the demised Premises, other than leasehold improvements paid for by Tenant, at Landlord's expense, in which event this Lease shall not terminate. In the event Landlord proceeds to repair or restore the Building and Premises but is unable to complete the repairs or restoration to the Building and Premises within 180 days after such damage has occurred, then Tenant shall have the right to terminate this Lease by written notice to Landlord which notice must be provided to Landlord no later than 10 days after the expiration of the 180 day period. Landlord shall not be deemed in default with respect to repair or restoration of the Building or the Premises, if the failure to timely perform is due in whole or in part to any strike, labor trouble (whether legal or illegal), civil disorder, failure of power, restrictive governmental laws and regulations, riots, insurrections, war, shortages, accidents, casualties, Acts of God, acts, omissions or delays of or caused by Tenant must vacate or any other cause beyond the Premises reasonable control of the Landlord. In such event Tenants right to terminate the Lease shall be extended, by the number of days repair or restoration has been delayed by such act or events. In the event the Lease is not terminated pursuant to these provisions, Base Rent shall xxxxx on a per diem basis during the period of untenantability. In the event of the termination of this Lease pursuant to this section, Base Rent shall be apportioned on a per diem basis and paid to the date of the fire or other casualty. In the event that the Building or the demised premises is partially damaged by fire or other casualty but an insubstantial portion of the Building or the demised premises is made untenantable, then Landlord shall, except during the last year of the term hereof, proceed with all due diligence to repair and restore the demised premises or the Building and the Base Rent shall xxxxx in proportion to the non-usability of the demised premises during the period of untenantability. If an insubstantial portion of the demised premises is made untenantable as aforesaid during the last year of the term hereof, Landlord shall have the right to terminate this Lease as of the date of the fire or other casualty by giving written notice thereof to Tenant within thirty (30) days after the date of such notice. Except as provided fire or other casualty, in this Section, there which event the Base' Rent shall be no abatement apportioned on a per diem basis and paid to the date of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty casualty. Substantial as referred to in this Section 10 shall be more than thirty (30%) percent. No damage, compensation or claim shall be payable by Landlord for inconvenience, loss of business or annoyance arising from the making any repair or not making restoration of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire demised premises or other cause, or to make any repairs or replacements to or portion of improvements installed in the Premises by or for TenantBuilding except as herein set forth.
Appears in 1 contract
Samples: Lease (Option Care Inc/De)
UNTENANTABILITY. In (i) If the event Premises or any portion thereof become Untenantable and such Untenantability continues more than three (3) days (which three day period shall not be extended for Unavoidable Delays) after Tenant shall have given notice thereof to Landlord and any Mortgagee or Ground Lessor which is a party to an SNDA with Tenant, then Rent shall xxxxx with respect to the Premises or such portion thereof commencing on the first Business Day after such three-day period, and such abatement shall continue for the duration of such Untenantability. Landlord agrees at all times to use diligent efforts to correct any Untenantability of the Premises, Building or Project are damaged by fire or other insured casualty and .
(ii) If any period of Untenantability involving more than fifty percent (50%) of the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part Rentable Area of the Premises continues for more than 180 consecutive days (without, except as provided below, any extension for Unavoidable Delays) after Tenant shall have given notice thereof to Landlord and any Mortgagee or Ground Lessor which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed party to by an SNDA with Tenant, this Lease Tenant shall continue in effect. In have the case of repairsright (during the period the Untenantability persists beyond the foregoing 180-day period), which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, but exercisable only by written notice to Landlord within the otherfifteen (15) day period following said 180 consecutive day period, cancel to terminate this Lease, which termination shall be effective upon receipt of such written notice; provided, however, if the remediation of such Untenantability requires work by Landlord which is not reasonably susceptible of being performed within such 180-day period then, if Landlord shall have commenced such remediation within such period and shall have diligently prosecuted such remediation, such 180-day period shall be extended for such additional period (beyond the initial 180-day period) as may be required for Landlord to remedy such Untenantability but not for more than sixty (60) days after such 180-day period.
(iii) For purposes of this Lease as (including Article 10), “Untenantable” and “Untenantability” shall mean with respect to the Premises, or any portion thereof, that the same cannot reasonably be used by Tenant for the normal conduct of the date of the occurrence of such damage its business and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Sectionaccordance with applicable Laws, there shall be no abatement of rent and no liability of Landlord in fact is not being so used for any purpose other than storage, including by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from (a) the making or not making of any repairs, alterations or improvements in or to any portion condition of the Premises, Building or Project or in or to fixturesapplicable portion thereof, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance (b) lack of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire access, electricity, HVAC, or other causeservices, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenant.or
Appears in 1 contract
Samples: Office Lease (Hyatt Hotels Corp)
UNTENANTABILITY. In If the event premises or the Premises, Building or Project are damaged made unfit for occupancy by fire or other insured casualty and casualty, acts of God, or other cause, Lessor may elect (a) to terminate this Lease as of the insurance proceeds have been date when the premises or the Building are so made available therefore unfit for occupancy, by written notice to Lessee within ninety (90) days after that date, or (b) to repair, restore, or rehabilitate the holder premises or holders of any mortgages or deeds of trust, the damage shall be repaired by and Building at the Lessor’s expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty eighty (120180) days after Lessor is enabled to take possession of all damaged areas and to undertake reconstruction or repairs; and if Lessor elects so to repair, restore, or rehabilitate the occurrence of such damage without premises or the payment of overtime or other premiums. Until such repairs are completedBuilding, the this Lease shall not terminate, but rent shall be abated in proportion on a per-diem basis to the part of extent and for the Premises which is unusable by Tenant in period that the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effectpremises are unfit for occupancy. In the case of repairs, which in Landlord’s opinion canevent Lessor shall proceed under (b) above and shall not be made substantially complete the work within said one hundred twenty eighty (120180) days Landlord shall notify Tenant within thirty day period (30excluding from said period loss of time resulting from delays beyond the reasonable control of Lessor) days either Lessor or Lessee may then terminate this Lease, as of the date of occurrence last day of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty eighty (120180) days of notice, then either party mayday period, by written notice to the otherother not later than ten (10) days after the expiration of said one hundred eighty (180) day period, cancel computed as herein provided, and Lessor shall have no liability to Lessee for failure to restore, repair, or rehabilitate the premises. In the event of termination of this Lease as of pursuant to this Paragraph, rent shall be apportioned on a per-diem basis to and including the effective date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such noticetermination. Except as provided in this SectionParagraph, there neither party hereto shall be no abatement of rent and no liability of Landlord have the right to terminate this Lease by reason of any injury damage to, damage or interference with Tenant’s business destruction of, the premises or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for TenantBuilding.
Appears in 1 contract
Samples: Lease Agreement (11 Good Energy Inc)
UNTENANTABILITY. In If the event Premises or the Premises, Building or Project are shall be partially damaged by fire or other insured casualty casualty, this Lease shall remain in full force and effect and the insurance proceeds have been made available therefore by damage to the holder Premises or holders of any mortgages or deeds of trust, the damage Building shall be repaired by and at Landlord as soon as practicable under the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiumscircumstances. Until such repairs are completedshall be made, the rent Base Rent and other charges shall be abated in proportion on a per diem basis proportionate to the part extent and for the period that the Premises are unfit for occupancy or cannot be used, as the case may be. If all or substantially all of the Premises which is unusable or the Building are damaged or made unfit for occupancy by fire or other casualty, Landlord may elect: (i) to terminate this Lease as of the date when the Premises or the Building are so made unfit for occupancy, by written notice to Tenant in within ninety (90) days after such date, or; (ii) to repair, restore or rehabilitate the conduct of its business. If repairs cannotPremises or the Building, in at Landlord’s sole opinion be made 's expense, within one hundred twenty eighty (120180) daysdays after Landlord is in possession of all insurance proceeds and necessary permits for reconstruction or repair. If Landlord elects so to repair, Landlord may at its option make these within a reasonable time and, if agreed to by Tenantrestore or rehabilitate the Premises or the Building, this Lease shall continue in effect. In not terminate, but until such repairs shall be made, Base Rent and other charges shall be abated on a per diem basis proportionate to the case of repairs, which in Landlord’s opinion extent and for the period that the Premises or the Building are unfit for occupancy or cannot be made used, as the case may be. If Landlord shall proceed under clause (ii) above and shall not substantially complete the work within said one hundred twenty eighty (120180) days day period (excluding from said period loss of time resulting from delays beyond the reasonable control of Landlord) either Landlord shall notify or Tenant within thirty (30) days may then terminate this Lease, as of the date of occurrence of such damage as to whether when the Premises or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be the Building were so made within one hundred twenty (120) days of notice, then either party mayunfit for occupancy, by written notice to the other, cancel other not later than ten (10) days after the expiration of said one hundred eighty (180) day period. In the event of a termination of this Lease as of pursuant to this Section 17, Base Rent shall be apportioned on a per diem basis to and including the effective date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such noticetermination. Except as provided in this Section, there Landlord shall be no abatement of rent and incur no liability on account of any delay in the completion of any repairs to be made by Landlord which may arise by reason of any injury toadjustment of insurance, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other causelabor difficulties, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantother cause beyond Landlord's control.
Appears in 1 contract
UNTENANTABILITY. In If the event Premises or the Premises, Building or Project are damaged is made untenantable by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustcause, the damage shall be repaired Landlord may elect (a) to terminate this Lease as of the date of such casualty by and at the expense of Landlord notice to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of after that date, or (b) to repair all damages to the Premises or the Building so that the same shall be restored to such condition as existed immediately prior to such damage. If the Landlord elects to terminate this Lease, the rent shall be abated on a per diem basis and be paid to the date of occurrence of such damage as to whether the fire or not casualty. If the Landlord elects to make restore the Premises and Building, such restoration shall be completed with reasonable promptness. If the Premises are unusable during such restoration, or if the Tenant is reasonably required to close its operation while such repairs are made, the rent shall xxxxx during such period of repair while such operations have ceased and if no the Premises are completely closed. If the Tenant continues to operate on the Premises during such repairs and if no such notice repairs, but is givenunable to use a substantial portion thereof, Landlord then the rent shall be deemed prorated in the proportion which the area of unusable leased space bears to have elected the total Premises for the period that said space is unusable. The Landlord will not be liable for business losses to make such repairsthe Tenant by reason of damage to the Premises. If Landlord elects such untenantability is caused by the fault of the Tenant, there will be no apportionment or abatement of rent. Notwithstanding anything contained in this paragraph to the contrary, if the Premises is not to make such repairs or if said repairs cannot be made tenantable within one hundred twenty and eighty (120180) days of noticeafter said damage for any reason whatsoever, then either party may, by written notice to the other, cancel Tenant may terminate this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for TenantLease.
Appears in 1 contract
Samples: Lease Agreement (MFB Corp)
UNTENANTABILITY. In the event the Premises, Building premises or Project are the building in which the premises is located is damaged by fire or other insured casualty and casualty, Landlord shall forthwith repair the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, same provided such repairs can, in Landlord’s sole opinion, can be made within one hundred twenty sixty (12060) days after under the occurrence laws and regulations of such damage without the payment state, federal, county and municipal authorities and this lease shall remain in full force and effect except that Tenant shall be entitled to a proportionate reduction of overtime or other premiums. Until rent while such repairs are completedbeing made, such proportionate reduction to be based upon the rent extent to which the making of such repairs shall be abated in proportion to interfere with the part of the Premises which is unusable business carried on by Tenant in the conduct of its businesspremises. If such repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty sixty (12060) days days, Landlord shall notify have the option to either (a) repair and restore such damage, this lease continuing in full force and effect, but the rent to be proportionately reduced as hereinabove in this Paragraph 16 provided, or (b) give notice to Tenant at any time within thirty (30) days of the date of occurrence of after such damage terminating this lease as of a date to whether or not Landlord elects to make be specified in such repairs and if no such repairs and if no such notice is givennotice, Landlord which date shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within less than thirty (30) days nor more than sixty (60) days after the giving of such notice. Except as provided In the event of the giving of such notice, this lease shall terminate on such date so specified in this Sectionsuch notice and the rent, there reduced by any proportionate reduction based upon the extent, if any, to which same damage interfered with the business carried on by Tenant in the premises, shall be no abatement paid up to the date of such termination, Landlord agreeing to refund to Tenant any rent and no liability theretofore paid for any period of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any time subsequent to such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the samedate. Landlord shall not be required to repair any injury or damage caused by fire or other causecause to the property of Tenant, or to make any repairs or replacements to replacement of any panelling, decorations, partitions, railing, ceilings, floor covering, or of any improvements installed on the premises by Tenant. During the last twelve (12) months of the term of this Lease in the Premises event that the premises are damaged to such extent that they cannot reasonably be repaired and restored within six (6) months following the casualty, then Tenant shall have the right to terminate this Lease by or for written notice given to Landlord not later than thirty (30) days after such casualty. The provisions of Section 1932, Subdivision 2, and 1933, Subdivision 4 of the Civil Code of California are hereby waived by Tenant.
Appears in 1 contract
UNTENANTABILITY. In If the event the Premises, Building Premises are made untenantable in whole or Project are damaged in part by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustRent, the damage until repairs shall be repaired by and at made or the expense of Landlord to the extent of such insurance proceeds available thereforelease terminated as hereinafter provided, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion apportioned on a per diem basis according to the part of the Premises which is unusable usable by Tenant in the conduct Tenant, if, but only if, such fire or other casualty be not caused by the fault or negligence of the Tenant, its businesscontractors, agents, or employees. If repairs cannot, in Landlord’s sole opinion such damage shall be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In so extensive that the case of repairs, which in Landlord’s opinion Premises cannot be made restored to the same or better quality condition than the condition prior to the fire or other casualty by the Landlord within one hundred twenty a period of three (1203) days Landlord months, either party shall notify Tenant have the right to cancel this lease by notice to the other given at any time within thirty (30) days of after the date of occurrence such damage; except that if such fire or casualty resulted from the Tenant's fault or negligence the Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the opinion of the Landlord the Building should be restored in such damage a way as to whether alter the Building or not Premises materially, the Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, may cancel this lease by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises given at any time within thirty (30) days after the date of such noticedamage. Except as provided in In the event of giving effective notice pursuant to this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that the term and the estate hereby granted shall expire on the date fifteen (15) days after the giving of such notice as fully and completely as if such date were the date hereinbefore set for the expiration of the term of this lease. If this lease is not terminated, the Landlord shall not be obliged to will promptly repair any the damage thereto or replace at the sameLandlord's expense. Landlord shall not be required obligated to repair repair, restore or replace any injury or damage caused by fire fixture improvement, alteration, furniture, personal property, decorations or other causeproperty owned installed or made by Tenant, all of which shall be repaired restored or to make any repairs or replacements to or of improvements installed in the Premises replaced by or for Tenant.
Appears in 1 contract
Samples: Lease Agreement (Access Integrated Technologies Inc)