Common use of Casualty Damage Clause in Contracts

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 4 contracts

Samples: Office Lease Agreement (Tenfold Corp /Ut), Office Lease Agreement (Tenfold Corp /Ut), Office Lease Agreement (C Bridge Internet Solutions Inc)

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Casualty Damage. A. If all the Premises or any part of the Premises is thereof shall be damaged by fire or other casualty, Tenant Lessee shall immediately notify Landlord in writinggive prompt written notice thereof to Lessor. During any period of time that all or a material portion of In case the Premises is rendered untenantable as a result of a Building shall be damaged by fire or other casualty, but shall not be rendered untenantable in whole or in part, Lessor shall, at its sole expense, cause such damage to be repaired with reasonable diligence to substantially the Rent shall xxxxx for same condition in which it was immediately prior to the portion happening of the Premises that is untenantable casualty, and the Base Rental hereunder shall not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) be abated; however, in case the Building shall be so damaged so that, in Landlord's reasonable judgment, by fire or other casualty that substantial alteration or reconstruction of the Building shall shall, in Lessor's sole opinion, be required (whether or not the Premises has shall have been damageddamaged by such fire or other casualty); (2) Landlord is not permitted by Law to rebuild , or in the event any mortgagee under a mortgage or deed of trust covering the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires should require that the insurance proceeds payable as a result of said fire or other casualty be applied used to the payment of retire the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise , Lessor may, at its right to option, terminate this Lease and the term and estate hereby granted by notifying Tenant Lessee in writing of such termination within 90 sixty (60) days after the date of the casualtysuch damage. If Landlord Lessor does not thus elect to terminate this Lease, Landlord Lessor shall within seventy-five (75) days after the date of such damage commence and proceed with reasonable diligence to repair and restore the Building and shall proceed with reasonable diligence to restore the Leasehold Improvements Building (excluding except that Lessor shall not be responsible for delays outside its control) to substantially the same condition in which it Was immediately prior to the happening of the casualty, except that Lessor shall not be required to rebuild, repair, or replace any Alterations that were performed part of Lessee's fixtures, equipment or other personal property removable by Tenant in violation Lessee under the provisions of this Lease). However, and Lessor shall not in no any event shall Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordLessor as a result of the fire or other casualty. Landlord Lessor shall not be liable for any loss inconvenience or damage annoyance to Tenant's Property Lessee or injury to the business of Tenant Lessee resulting in any way from such damage or the repair thereof, except that, subject to the provisions of the next sentence, Lessor shall allow Lessee a fair diminution of rent during the time and to the extent the Premises, or any portion thereof, are unfit for occupancy. If the Premises or any other portion of the Building be damaged by fire or other casualty resulting from the fault or from Tenant Initials ___________ Landlord Initials___________ 10negligence of Lessee or any of Lessee's agents, employees, or invitees, the rent hereunder shall not be diminished during the repair of such damage, and Lessee shall be liable to Lessor for the cost and expense of the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating Building caused thereby to the matters addressed in this Article, extent such cost and agree that their respective rights for expense is not covered by insurance proceeds. Any insurance which may be carried by Lessor or Lessee against loss or damage to the Building or destruction of to the Premises shall be those specifically provided in this Leasefor the sole benefit of the party carrying such insurance and under its sole control.

Appears in 3 contracts

Samples: Lease Agreement (IElement CORP), Lease Agreement (IElement CORP), Lease Agreement (IElement CORP)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 3 contracts

Samples: Office Lease Agreement, Office Lease Agreement (Acacia Communications, Inc.), Office Lease Agreement (Saflink Corp)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately promptly notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord or Tenant shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 12 months of the Term remaining on the date of the casualty; (4) any Mortgagee with a first priority Mortgage requires that the insurance proceeds be applied to the payment of the mortgage debtMortgage debt pursuant to terms of the Mortgage that are commercially reasonable for loans for similar types of properties; or (5) a material uninsured loss to the Building occurs; or (6) any restoration would be considered "construction" with respect to the Premises within the meaning of Treas. Reg. Section 1.856. Landlord or Tenant may exercise its right to terminate this Lease by notifying Tenant the other party in writing within 90 60 days after the date of the casualty. If Landlord this Lease does not terminate this Leaseterminate, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage, however subject to the abatement of Rent as set forth herein. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 3 contracts

Samples: Lease Agreement (Griffin Capital Essential Asset REIT II, Inc.), Lease Agreement (Griffin Capital Essential Asset REIT II, Inc.), Lease Agreement (Griffin Capital Essential Asset REIT II, Inc.)

Casualty Damage. A. If all the Premises or any part of the Premises is thereof shall be damaged by fire or other casualty, Tenant shall immediately notify Landlord in writinggive prompt written notice thereof to Landlord. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) In case the Building shall be so damaged so that, in Landlord's reasonable judgment, by fire or other casualty that (i) substantial alteration or reconstruction of the Building shall shall, in the judgment of an independent architect selected by Landlord, be required (whether or not the Premises has shall have been damageddamaged by such fire or other casualty); , or (2ii) Landlord is not permitted by Law to rebuild in the event any mortgagee under a first mortgage or first deed of trust covering the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires should require that the insurance proceeds payable as a result of said fire or other casualty be applied used to the payment of retire the mortgage debt; , or (5iii) in the event of the occurrence of a material uninsured loss casualty which is not insured under the “all risk” extended coverage insurance required to be carried by Landlord pursuant to the Building occurs. terms of Section 20, Landlord may exercise may, at its right to option, terminate this Lease by notifying Tenant in writing of such termination within 90 fifteen (15) days after the date of Landlord’s receipt of the casualtyestimated cost of reconstruction or determination by a mortgagee to take the proceeds in which event the Rent hereunder shall be abated as of the date of such damage. If Landlord does not elect to terminate this Lease, Landlord shall shall, as soon as practicable, but no more than ninety (90) days after the date of such damage, commence and proceed with reasonable diligence to repair and restore the Building and shall proceed with reasonable diligence to restore the Leasehold Improvements (excluding Building to substantially the same condition which it was in immediately prior to the occurrence of the fire or other casualty, except that Landlord shall not be required to rebuild, repair, or replace any part of Tenant’s furniture, fixtures and equipment removable by Tenant under the provisions of this Lease or any Alterations that were performed to the Premises made by Tenant following the Commencement Date which were not approved by Landlord in violation of this Lease). Howeverwriting, and Landlord shall not in no any event shall Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by Landlord as a result of the fire or other casualty, plus any deductible amounts thereunder. If Landlord determines that insurance proceeds will be insufficient to restore the Building as required by this Section 24, Landlord may, at its option, elect to either (1) terminate this Lease by written notice to Tenant within fifteen (15) days after the date of Landlord’s receipt of written notice of the amount of insurance proceeds Landlord will receive, or (2) provide the extra funds necessary to complete the restoration. In the event Landlord did not originally construct any Alterations to be repaired, the time for Landlord to commence and complete such repairs shall be extended by the amount of time necessary for Landlord to obtain detailed working drawings of the Alterations to be repaired. In the event Landlord does not either commence the repairs to the Building within the time required herein, or complete the repairs to the Building within two hundred seventy (270) days after the date of such damage, Tenant may terminate the Lease by written notice thereof to Landlord given no later than thirty (30) days following the date on which Landlord was to commence or complete such repairs, as the case may be. Landlord shall not be liable for any loss inconvenience or damage annoyance to Tenant's Property Tenant or injury to the business of Tenant resulting in any way from such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant an equitable abatement of Rent during the time and to the extent the Premises are unfit for occupancy and are vacated by Tenant. If the Premises or any other portion of the Complex is damaged by fire or other casualty or resulting from the intentional acts of Tenant or any employee, officer, contractor, agent, subtenant, or licensee of Tenant, the Rent hereunder shall not be abated during the repair and restoration of the such damage. Landlord , and Tenant hereby waive shall remain liable for the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Leasepayment thereof.

Appears in 3 contracts

Samples: Office Lease Agreement, Office Lease Agreement (Aptinyx Inc.), Office Lease Agreement (Aptinyx Inc.)

Casualty Damage. A. If all In the event the Building or any part of the Premises is damaged shall be destroyed or rendered untenantable, either wholly or in part, by fire or other casualty, Tenant unless this Lease is terminated as provided below, Landlord shall immediately notify Landlord restore the Building or Premises to as near their previous condition as is reasonably possible and in writing. During any period of time that all or a material the meantime the Rent shall be abated in the same proportion as the untenantable portion of the Premises is rendered bears to the whole thereof, provided, such abatement (i) shall apply only to the extent the Premises are untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable purposes permitted under this Lease and not used by TenantTenant as a result thereof, and (ii) shall not apply if Tenant or any other occupant of the Premises or any of their agents, employees, invitees, transferees or contractors caused the damage through such party’s gross negligence or willful misconduct. Landlord shall have the right to terminate this Lease if: (1) the Building shall be significantly damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has have been damaged)) and Landlord is terminating all of the office leases for the Building; (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 two (2) years of the Term remaining on the date of the casualty; (4) any Mortgagee Lender requires that all or substantially all of the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material an uninsured loss to of the Building occurs; or (6) in Landlord’s estimation the Premises or Building cannot be restored within one hundred twenty (120) days after the casualty has occurred. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 as soon as reasonably practicable but no later than sixty (60) days after the date of the casualty. If However, if in Landlord’s estimation the Premises cannot be restored and access granted to Tenant for the Permitted Use within one hundred twenty (120) days following such destruction, but Landlord does not elect to terminate this Leasethe Lease as provided above, Landlord shall commence notify Tenant (including providing the Outside Restoration Date, as hereinafter defined) and Tenant may terminate this Lease (regardless of Landlord’s intent to restore) by delivery of notice to Landlord within thirty (30) days of Landlord’s notice. Such restoration by Landlord shall not include replacement of furniture, equipment or other items that do not become part of the Building or any improvements to the Premises in excess of those provided for in the allowance for building standard items. If Landlord elects to restore the Building and/or Premises, as the case may be, then Landlord shall promptly begin such restoration and shall proceed with reasonable diligence to repair and restore the Building and and/or Premises, as applicable, in accordance with the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation terms of this Lease)Section 12. HoweverTenant agrees that the abatement of Rent and termination right as provided herein shall be Tenant’s sole and exclusive recourse in the event of such damage, in no event shall and Tenant waives any other rights Tenant may have under applicable Law to perform repairs or terminate the Lease by reason of damage to the Building or Premises. Notwithstanding the foregoing, if Landlord be elects or is required to spend more than restore the insurance proceeds received Building and/or Premises, as applicable, and if Tenant does not terminate the Lease in the circumstances in which is it permitted to terminate the Lease as provided above, and Landlord fails to complete such restoration within the later of (a) one hundred twenty (120) days following the date of destruction or damage or (b) the time set forth in Landlord’s restoration notice as the estimated date of restoration (the “Outside Restoration Date”), then Tenant shall have the right to terminate the Lease upon written notice delivered to Landlord at any time after the Outside Restoration Date and prior to Landlord’s completion of such restoration, such termination to be effective forty-five (45) days after the date of delivery of the notice; provided, however, if Landlord completes such repairs prior to the expiration of the forty-five (45) day notice period, Tenant’s right to terminate shall be null and void. In addition, and notwithstanding anything to the contrary contained above in this Section 12, Tenant shall have the right to terminate this Lease if: (i) the Premises are damaged by casualty in the last two (2) years of the Term; (ii) Landlord does not elect to terminate this Lease as provided above; and (iii) in Landlord. Landlord shall ’s good faith opinion, the Premises cannot be liable restored within the earlier to occur of (i) ninety (90) days after the date of such damage, or (ii) the Expiration Date. If Tenant elects to terminate this Lease as provided in the preceding sentence, it must give notice to Landlord no later than thirty (30) days after it receives Landlord’s notice of timing for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating damage or it will be deemed to the matters addressed in this Article, and agree that their respective rights for damage have waived its right to or destruction of the Premises shall be those specifically provided in terminate this Lease.

Appears in 2 contracts

Samples: Office Lease (Carbon Black, Inc.), Office Lease (Carbon Black, Inc.)

Casualty Damage. A. 16.01 If all or any part portion of the Premises is damaged becomes untenantable or inaccessible by fire or other casualtycasualty to the Premises or the Common Areas (collectively a “Casualty”), Tenant Landlord, with reasonable promptness, shall immediately notify cause a general contractor selected by Landlord in writing. During any period to provide Landlord with a written estimate of the amount of time that all or a material portion required, using standard working methods, to substantially complete the repair and restoration of the Premises is rendered untenantable as and any Common Areas necessary to provide access to the Premises (“Completion Estimate”). Landlord shall promptly forward a result of a fire or other casualty, the Rent shall xxxxx for the portion copy of the Premises that is untenantable and not used by Completion Estimate to Tenant. Landlord If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made tenantable within one hundred eighty (180) days from the date the repair is started, then either party shall have the right to terminate this Lease upon written notice to the other within ten (10) days after Tenant’s receipt of the Completion Estimate. Tenant, however, shall not have the right to terminate this Lease if the Casualty was caused by the gross negligence or intentional misconduct of Tenant or any Tenant Related Parties. In addition, Landlord, by notice to Tenant within ninety (90) days after the date of the Casualty, shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 two (2) years of the Term remaining on the date of the casualtyCasualty; (42) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (53) a material uninsured loss to the Building or Premises occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 2 contracts

Samples: Office Lease Agreement, Office Lease Agreement (scPharmaceuticals Inc.)

Casualty Damage. A. (a) Landlord's Options. If all or any part of the Premises is damaged by ------------------ fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration (ie, work which will take in excess of one hundred eighty (180) days) or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years one (1) year of the Term remaining on the date of the casualty; or (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occursoccurs (provided that Landlord has complied with Article 14 above regarding insurance to be maintained by Landlord). Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 one hundred twenty (120) days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant's Property, which Tenant in violation of this Leaseshall repair). However, in In no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 2 contracts

Samples: Lease Agreement (Equinix Inc), Lease Agreement (Equinix Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material any portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged)) and Landlord terminates all other leases in the Building; (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 1 year of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs; (6) any restoration would be considered “construction” with respect to the Premises within the meaning of Treas. Reg. Section 1.856; or (7) such restoration would not be permitted under the Pooling and Servicing Agreement dated July 1, 2007 by and between J.P. Xxxxxx Xxxxx Commercial Mortgage Securities Corp., as Depositor, Wachovia Bank, National Association, as Master Servicer, CWCapital Asset Management LLC, as Special Servicer and Lasalle Bank National Association, as Trustee, to which the Landlord is subject. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 60 days after the date of the casualty. Tenant shall have the right to terminate this Lease if: (I) Landlord is not permitted by Law to rebuild the portion of the Building in which the Premises is located to substantially the same form as existed before the fire or casualty or (II) the Premises have been materially damaged (i.e. at least 33% is not habitable) and there is less than 1 year of the Term remaining on the date of the casualty. Tenant may exercise its right to terminate this Lease by notifying Landlord in writing within 60 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). HoweverIf such repair and restoration is not completed within two hundred seventy (270) days of the casualty, then Tenant shall have the right to terminate this Lease at any time thereafter until such completion occurs by notifying Landlord in no event shall Landlord be required to spend more than the insurance proceeds received by Landlordwriting. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 2 contracts

Samples: Office Lease Agreement (Collegium Pharmaceutical, Inc), Office Lease Agreement (Collegium Pharmaceutical Inc)

Casualty Damage. A. 17.1 If all or any part of the Premises is are damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building Property or the Premises shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building Property not covered by insurance shall be required (whether or not the Premises has been damaged)) and Landlord is therefore terminating all leases in the Building; (2) Landlord is not permitted by Law law to rebuild the Building Property or the Premises in substantially the same form as existed before the fire or casualty; casualty (in which event Tenant may also terminate this Lease): (3) the Premises have been materially damaged and there is less than 2 two(2) years of the Term remaining on the date of the casualty; : (4) any Mortgagee Mortgages requires that the such insurance proceeds be applied to the payment of the mortgage debt; : or (5) a material uninsured loss to the Building Property or the Premises occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 ninety (90) days after the date of the casualty. If Landlord landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building Premises and the Leasehold Improvements improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for from damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 2 contracts

Samples: Office Lease Agreement, Office Lease Agreement (Zymogenetics Inc)

Casualty Damage. A. If all or any part portion of the Premises is damaged becomes untenantable by fire or other casualtycasualty to the Premises (collectively a “Casualty”), Landlord within forty-five (45) days after the occurrence of the Casualty shall cause a general contractor selected by Landlord to provide Landlord and Tenant shall immediately notify Landlord in writing. During any period with a good faith written estimate of the amount of time that all or a material portion required using standard working methods to Substantially Complete the repair and restoration of the Premises is rendered untenantable as a result of a fire and any Common Areas necessary to provide access to the Premises (“Completion Estimate”). If the Completion Estimate indicates that the Premises or other casualty, any Common Areas necessary to provide access to the Rent shall xxxxx for Premises cannot be made tenantable within two hundred ten (210) days from the portion date of the Premises that is untenantable and Casualty, then either party shall have the right to terminate this Lease upon written notice to the other within ten (10) days after receipt of the Completion Estimate. Tenant, however, shall not used have the right to terminate this Lease if the Casualty was caused by Tenantthe negligence or intentional misconduct of Tenant or any Tenant Related Parties. Landlord In addition, Landlord, by notice to Tenant within ninety (90) days after the date of the Casualty, shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 two (2) years of the Term remaining on the date of the casualtyCasualty; (42) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (53) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 2 contracts

Samples: Office Lease Agreement (Oxford Immunotec Global PLC), Office Lease Agreement (Oxford Immunotec Global PLC)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx axxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 2 contracts

Samples: Office Lease Agreement (Ipayment Inc), Office Lease Agreement (Ipayment Inc)

Casualty Damage. A. Tenant shall give prompt notice to Landlord of any damage by fire or other casualty of or on the Premises. If all such damage or casualty renders any substantial part of the Premises is damaged untenantable and the repair time to restore the Premises to a tenantable condition will exceed one hundred twenty (120) days (or will exceed thirty (30) days in the case of damage occurring during the last twelve (12) months of the Term), or if any mortgagee of the Property requires application of the insurance proceeds to the reduction of the mortgage debt upon the occurrence of any such casualty, or if any material uninsured loss occurs, Landlord may, at its option, terminate this Lease by so notifying Tenant in writing within sixty (60) days after the date of the casualty or loss. If the damage by fire or other casualty, Tenant shall immediately notify Landlord in writing. During casualty renders any period of time that all or a material portion substantial part of the Premises is rendered untenantable as and if the repair time to restore the Premises to a result tenantable condition will exceed sixty (60) days (or will exceed thirty (30) days in the case of a fire or other casualty, damage occurring during the Rent shall xxxxx for the portion last twelve (12) months of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so thatTerm), in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord Tenant may exercise its right elect to terminate this Lease by so notifying Tenant Landlord in writing within 90 thirty (30) days after the date of the casualty. If the Lease is not so terminated by Landlord does not terminate this Leaseor Tenant, Landlord shall commence promptly begin and proceed with reasonable diligence diligently pursue the work of restoring the Premises (including the initial Tenant Improvements) to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease)substantially their former condition as soon as reasonably possible. HoweverLandlord shall not, in no event shall Landlord however, be required to spend more restore any alterations, additions, or improvements other than the insurance proceeds received by Landlordinitial Tenant Improvements. Landlord shall not be liable for any loss or damage to Tenant's Property or allow Tenant an equitable abatement of Base Rent and Additional Rent during the time and to the business extent the Premises are untenantable as the result of Tenant resulting in any way from the fire or other casualty or from casualty, but such abatement shall not extend the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this LeaseTerm.

Appears in 2 contracts

Samples: Office Lease Agreement (Franklin Financial Network Inc.), Office Lease Agreement (Franklin Financial Network Inc.)

Casualty Damage. A. If all the Premises or any part of the Premises is thereof shall be damaged by fire or other casualty, Tenant shall immediately notify Landlord in writinggive prompt written notice thereof to Landlord. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) In case the Building shall be so damaged so that, that in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2damaged by such casualty) or in the event Landlord is will not be permitted by Law applicable law to rebuild the Building in substantially the same form as existed before prior to the fire or casualty; (3) casualty or in the event the Premises have has been materially damaged and there is less than 2 two (2) years of the Lease Term remaining on the date of such casualty or in the casualty; (4) event any Mortgagee requires should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt; debt or (5) a in the event of any material uninsured loss to the Building occurs. Building, Landlord may exercise may, at its right to option, terminate this Lease by notifying Tenant in writing of such termination as soon as reasonably possible (taking into consideration all delays such as adjustment of insurance claims and obtaining approval from Landlord mortgagee(s)), but in all circumstances within 90 ninety (90) days after the date of such casualty. Such termination shall be effective as of the date of fire or casualty, with respect to any portion of the Premises that was rendered untenantable, and the effective date of termination specified in Landlord's notice, with respect to any portion of the Premises that remained tenantable. If Landlord does not elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building (provided that Landlord shall not be required to restore any unleased premises in the Building) and the Leasehold Improvements (but excluding any Alterations that were performed improvements, alterations or additions made by Tenant in violation of this Lease)) located within the Premises, if any, which Landlord has insured to substantially the same condition they were in immediately prior to the happening of the casualty. HoweverNotwithstanding the foregoing, in no event Landlord's obligation to restore the Building, and the Leasehold Improvements, if any, shall not require Landlord be required to spend expend for such repair and restoration work more than the insurance proceeds actually received by the Landlord as a result of the casualty, provided that if Landlord does not have sufficient proceeds to substantially complete the restoration of the Leasehold Improvements in the Premises and Landlord elects not to fund any shortfall, Landlord shall so notify Tenant and Tenant, within ten (10) days thereafter, shall have the right to terminate this Lease by the giving of written notice to Landlord. Landlord If Tenant terminates this Lease in accordance with the preceding sentence, the parties hereunder shall not be liable for any loss have no further obligations under this Lease effective on the date of such termination. When repairs to the Premises have been completed by Landlord, Tenant shall complete the restoration or damage to replacement of all Tenant's Property or necessary to permit Tenant's reoccupancy of the business Premises, and Tenant shall present Landlord with evidence satisfactory to Landlord of Tenant resulting in any way from the fire or other casualty or from the Tenant's ability to pay such costs prior to Landlord's commencement of repair and restoration of the damagePremises. Landlord and Tenant hereby waive the provisions of any Law relating Notwithstanding anything in this Article XIX to the matters addressed in this Articlecontrary, and agree that their respective rights for damage to if all or destruction any portion of the Premises shall be those specifically provided made untenantable by a fire or other casualty, Landlord shall with reasonable promptness, cause an architect or general contractor selected by Landlord to estimate the amount of time required to substantially complete repair and restoration of the Premises and make the Premises tenantable again, using standard working methods (the "Completion Estimate"). If the Completion Estimate indicates that the Premises cannot be made tenantable within nine (9) months from the date the repair and restoration is started, either party shall have the right to terminate this Lease by giving written notice to the other of such election within ten (10) days after its receipt of the Completion Estimate. If the Completion Estimate indicates that the Premises can be made tenantable within nine (9) months from the date the repair and restoration is started and Landlord has not otherwise exercised its right to terminate the Lease pursuant to the terms hereof, or if the Completion Estimate indicates that the Premises cannot be made tenantable within nine (9) months but neither party terminates this Lease pursuant to this Article XIX, Landlord shall proceed with reasonable promptness to repair and restore the Premises. Notwithstanding the foregoing, if Landlord does not substantially complete the repair and restoration the Premises within two (2) months after the expiration of the estimated period of time set forth in the Completion Estimate, which period shall be extended to the extent of any Reconstruction Delays, then Tenant may terminate this Lease by written notice to Landlord within fifteen (15) days after the expiration of such period, as the same may be extended. For purposes of this Lease., the term "

Appears in 1 contract

Samples: Office Lease Agreement (First Capital Insured Real Estate Limited Partnership)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx abate for the portion of the Premises Prexxxxx that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (PLM International Inc)

Casualty Damage. A. If all the Premises or any part of the Premises is thereof shall be damaged by fire or other casualty, Tenant shall immediately notify Landlord in writinggive prompt written notice thereof to Landlord. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) If the Building shall be so damaged so that, in Landlord's reasonable judgment, that Tenant is prohibited from substantial alteration occupancy and such substantial repairs or reconstruction of the Building shall cannot be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on completed within 180 days from the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; damage, either Landlord or (5) a material uninsured loss to the Building occurs. Landlord Tenant may exercise its right to terminate this Lease by notifying Tenant the other in writing of such termination within 90 thirty (30) days after the date of the casualtysuch damage. If Landlord does not terminate this Leaseneither party elects to terminate, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building to substantially the same condition in which it was immediately prior to the happening of the casualty, Tenant's equipment, trade fixtures, and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease)furnishings excepted. However, in no event Landlord shall Landlord not be required to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordLandlord as a result of the casualty. Landlord shall not be liable for If there is any loss injury to Tenant or damage to Tenant's Property or injury to the business of Tenant resulting in any way from such damage or the repair thereof, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair abatement of Base Rent during the time and to the extent the Premises are unfit for occupancy. Notwithstanding the foregoing, if the Premises or any other portion of the Building be damaged by fire or other casualty caused by Tenant, its employees, or from invitees, the Base Rent hereunder shall not be diminished during the repair of such damage, and Tenant shall not be entitled to terminate the Lease and Tenant shall additionally be liable to Landlord for the entire cost of the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating Building caused thereby to the matters addressed in this Article, extent such cost and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Leaseexpense is not covered by Landlord's insurance proceeds.

Appears in 1 contract

Samples: Lease Agreement (Never Miss a Call Inc)

Casualty Damage. A. 16.01 If all or any part portion of the Premises is damaged becomes untenantable by fire or other casualtycasualty to the Premises (collectively a “Casualty”), Landlord, with reasonable promptness, shall cause a general contractor selected by Landlord to provide Landlord and Tenant shall immediately notify Landlord in writing. During any period with a good faith written estimate of the amount of time that all or a material portion required using standard working methods to Substantially Complete the repair and restoration of the Premises and any Common Areas necessary to provide access to the Premises ("Completion Estimate"). If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made tenantable within 180 days from the date the repair is rendered untenantable as a result of a fire or started, then either party shall have the right to terminate this Lease upon written notice given to the other casualty, the Rent shall xxxxx for the portion within 10 days after receipt of the Premises Completion Estimate, and the effective date of termination shall be the date that is untenantable and ninety (90) days after the date of said termination notice. Tenant, however, shall not used have the right to terminate this Lease if the Casualty was caused by Tenantthe negligence or intentional misconduct of Tenant or any Tenant Related Parties. Landlord In addition, Landlord, by notice to Tenant within 90 days after the date of the Casualty, shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualtyCasualty; (42) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (53) a material uninsured loss to the Building occurs. If Landlord may exercise its right to terminate so elects, then this Lease by notifying Tenant in writing within 90 shall terminate on the date that is ninety (90) days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Leasedelivers such termination notice.

Appears in 1 contract

Samples: Office Lease Agreement (Ambient Corp /Ny)

Casualty Damage. A. If all the Premises or any part common areas of the Premises is Property providing access thereto shall be damaged by fire or other casualty, Tenant Landlord shall immediately notify use available insurance proceeds to restore the same. Such restoration shall be to substantiate the condition prior to the casualty, except for modifications required by zoning and building codes and other laws or by any Holder (as defined in Article 25) and any other modifications to the common areas deemed desirable by Landlord in writing. During any period of time that all or a material portion of (provided access to the Premises is rendered untenantable not materially impaired); provided, however, Landlord shall not be required to repair or replace any of Tenant's furniture, furnishings, fixtures or equipment or any alterations or improvements in excess of any work performed or paid for by Landlord under any separate agreement signed by the parties in connection herewith. Landlord shall not be liable for any inconvenience or annoyance to Tenant or its visitors or for injury to Tenant's business resulting in any way from such damage or the repair thereof. However, Landlord shall allow Tenant a proportionate abatement of Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result of a fire thereof (unless Tenant or other casualty, its employees or agents caused the Rent shall xxxxx for damage). Notwithstanding the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied foregoing to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. contrary, Landlord may exercise its right elect to terminate this Lease by notifying Tenant in writing of such termination within 90 sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the casualty. If Landlord does not terminate this Lease, Landlord Premises) if the Property shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed be materially damaged by Tenant in violation of this Lease). However, in no event or its employees or agents or if the Property shall Landlord be required to spend more than the insurance proceeds received damaged by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating cause such that: (a) repairs to the matters addressed in this ArticlePremises and access thereto cannot be reasonably completed within one hundred twenty (120) days after the casualty without the payment of overtime or other premiums, and agree that their respective rights for damage to or destruction (b) more than twenty-five percent (25%) of the Premises is affected by the damage and fewer than twenty-four (24) months remain in the Term, (c) any material damage occurs to the Premises during the last twelve (12) months of the Term, (d) any Holder (as defined in Article 25) shall require that the insurance proceeds or any portion thereof be used to retire the Mortgage debt (or shall terminate the ground lease, as the case may be), (e) the damage is not fully covered by Landlord's insurance policies, or (f) the cost of the repairs, alterations, restoration or improvement work to the Property or any portion thereof would exceed twenty-five percent (25%) of the replacement value of the Building or the nature of such work would make termination of this Lease necessary or convenient. Tenant agrees that Landlord's obligation to restore, and the abatement of Rent provided herein, shall be those specifically provided Tenant's sole recourse in the event of such damage and waives any other rights Tenant may have under any applicable law to terminate this LeaseLease by reason of damage to the Premises or Property. Tenant acknowledges that this Article 10 represents the entire agreement between the parties respecting damage to the Premises or the Property.

Appears in 1 contract

Samples: Office Lease (Millers Mutual Fire Insurance Co)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx axxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building or the Project shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building or the Project shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building or the Project in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building or the Project occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Perlegen Sciences Inc)

Casualty Damage. A. If all (a) Following the occurrence of casualty that causes damage to the Building or any part of the Premises (a “Casualty”), Landlord or Tenant (as applicable) shall, as soon as is damaged by fire or reasonably possible, notify the other casualtyin writing of such occurrence (a “Casualty Notice”) Thereafter, Tenant Landlord shall immediately notify Landlord use commercially reasonable diligence in writing. During any period determining the amount of time that will be required to make any and all or a material portion of necessary repairs to the Premises is rendered untenantable and/or Building, as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenantapplicable. Landlord shall have the right to terminate this Lease ifIf: (1i) the Building shall be so damaged so that, in Landlord's reasonable judgment, by such Casualty that substantial alteration or reconstruction of fifty percent (50%) or more of the Building shall shall, in Landlord’s opinion, be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises shall have been materially damaged and there is less than 2 years of by the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debtCasualty); or (5ii) a the restoration or repair of the Building is not required under the Declaration and will not be undertaken by the Condominium Association or is otherwise not required under the Declaration and will not be undertaken by the condominium unit owners (or any of them); or (iii) there is any material uninsured loss to the Building occurs. that is not covered by insurance required to be maintained by Landlord may exercise its right to terminate under this Lease or under the Declaration; or (iv) the Premises shall be partially damaged by notifying a Casualty and the estimated cost of repair exceeds thirty percent (30%) of all Base Rent then remaining to be paid by Tenant in writing for the balance of the Lease Term, then Landlord may, within 90 ninety (90) days after the date Casualty, give notice to Tenant of the casualty. If Landlord does not Landlord’s election to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration balance of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises Lease Term shall be those specifically provided in this Leaseautomatically expire five (5) days after such notice is delivered.

Appears in 1 contract

Samples: Lease Agreement (SKYX Platforms Corp.)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any of Tenant’s personal property and any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Oxigene Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualtycasualty (whether to the Premises or to the Building), the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required constituting more than 30% of the full replacement cost value of the Building (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; or (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occursoccurs (provided that the lack of insurance is not due to Landlord’s failure to maintain the insurance required by this Lease). Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. Landlord shall only exercise its right to terminate this Lease in a good faith and non-discriminatory manner so as to avoid treating Tenant in a fashion different than other tenants in the Building similarly affected by the fire or other casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord (provided that the lack of insurance is not due to Landlord’s failure to maintain the insurance required by this Lease). Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Centrexion Therapeutics Corp)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx axxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease lease if: (1) the Building or the Project shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building or the Project shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law law to rebuild the Building or the Project in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building or the Project occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements Improvement (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: D Lease Agreement (SMTC Corp)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged)) and Landlord is therefore terminating all similarly situated leases in the Building ; (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds over $200,000 be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. In addition to Landlord's rights to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (1) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired within sixty (60) days after the date of such fire or other casualty; (2) there is less than one (1) year of the Lease Term remaining on the date of such casualty; (3) the casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (4) Tenant provides Landlord with written notice of its intent to terminate within thirty (30) days after the date of the fire or other casualty. If neither Landlord does not nor Tenant elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Infospace Com Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building or the Project shall be materially damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building or the Project, as the case may be, shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building or the Project in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building or the Project occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building Building, the Initial Alterations and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord, provided that if Landlord does not have sufficient insurance proceeds to substantially complete the restoration of the Leasehold Improvements in the Premises and Landlord elects not to fund any shortfall, Landlord shall so notify Tenant and Tenant, within 10 days thereafter, shall have the right to terminate this Lease by the giving of written notice to Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease. If Landlord has the right to terminate this Lease pursuant to this Article XVII, Landlord agrees to exercise such right in a nondiscriminatory fashion among leases affecting the Project. Consideration of the following factors in arriving at its decision shall not be deemed discriminatory: Length of term remaining on the Lease, time needed to repair and restore, costs of repair and restoration not covered by insurance proceeds, Landlord's plans to repair and restore Common Areas serving the Premises, Landlord's plans for repair and restoration of the Building, and other relevant factors of Landlord's decision as long as they are applied to Tenant in the same manner as other tenants.

Appears in 1 contract

Samples: Lease Agreement (Aerogen Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for abatx xxx the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 1 year of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. In addition to Landlord's rights to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (1) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired within 60 days after the date of such fire or other casualty; (2) there is less than1 year of the Lease Term remaining on the date of such casualty; (3) the casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (4) Tenant provides Landlord with written notice of its intent to terminate within 30 days after the date of the fire or other casualty. If neither Landlord does not nor Tenant elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Quokka Sports Inc)

Casualty Damage. A. If all the Premises or any part of the Premises is thereof shall be damaged by fire or other casualty, Tenant shall immediately notify Landlord in writinggive prompt written notice thereof to Landlord. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) In case the Building shall be so damaged so that, in Landlord's reasonable judgment, by fire or other casualty that (i) substantial alteration or reconstruction of the Building shall shall, in the judgment of an independent architect selected by Landlord, be required (whether or not the Premises has shall have been damageddamaged by such fire or other casualty); , or (2ii) Landlord is not permitted by Law to rebuild in the event any mortgagee under a first mortgage or first deed of trust covering the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires should require that the insurance proceeds payable as a result of said fire or other casualty be applied used to the payment of retire the mortgage debt; , or (5iii) in the event of the occurrence of a material uninsured loss casualty which is not insured under the "all risk" extended coverage insurance required to be carried by Landlord pursuant to the Building occurs. terms of Section 20, Landlord may exercise may, at its right to option, terminate this Lease by notifying Tenant in writing of such termination within 90 fifteen (15) days after the date of Landlord's receipt of the casualtyestimated cost of reconstruction or determination by a mortgagee to take the proceeds in which event the Rent hereunder shall be abated as of the date of such damage. If Landlord does not elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence shall, as soon as practicable, but no more than sixty (60) days after the date of such damage, begin to repair and restore the Building and shall proceed with reasonable diligence to restore the Leasehold Improvements (excluding Building to substantially the same condition which it was in immediately prior to the occurrence of the fire or other casualty, except that Landlord shall not be required to rebuild, repair, or replace any part of Tenant's furniture, fixtures and equipment removable by Tenant under the provisions of this Lease or any Alterations that were performed to the Premises made by Tenant following the Commencement Date which were not approved by Landlord in violation of this Lease). Howeverwriting, and Landlord shall not in no any event shall Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordLandlord as a result of the fire or other casualty, plus any deductible amounts thereunder. If Landlord determines that insurance proceeds will be insufficient to restore the Building as required by this Section 24, Landlord may, at its option, elect to either (1) terminate this Lease by written notice to Tenant, or (2) provide the extra funds necessary to complete the restoration. In the event Landlord did not originally construct any Alterations to be repaired, the time for Landlord to commence and complete such repairs shall be extended by the amount of time necessary for Landlord to obtain detailed working drawings of the Alterations to be repaired. In the event Landlord does not either commence the repairs to the Building within the time required herein, or complete the repairs to the Building within two hundred seventy (270) days after the date of such damage, Tenant may terminate the Lease by written notice thereof to Landlord given no later than thirty (30) days following the date on which Landlord was to commence or complete such repairs, as the case may be. Landlord shall not be liable for any loss inconvenience or damage annoyance to Tenant's Property Tenant or injury to the business of Tenant resulting in any way from the fire such damage or other casualty or from the repair and restoration thereof, except that Landlord shall allow Tenant an equitable abatement of Rent during the damage. Landlord and Tenant hereby waive the provisions of time that all or any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction portion of the Premises shall be those specifically provided in this Leaseare rendered untenantable because of the lack of essential services such as electricity, HVAC or elevator service or are otherwise unfit for occupancy and have been vacated by Tenant.

Appears in 1 contract

Samples: Office Lease Agreement (FSP Galleria North Corp)

Casualty Damage. A. If all or any part of the Premises or a material portion of the parking spaces or all reasonable means of access to the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material any portion of the Premises or the parking spaces or a reasonable means of access to the Premises is rendered untenantable unusable as a result of a fire or other casualty, the Rent shall xxxxx for to the extent of the portion of the Premises Premises, parking or access that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 60 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building Building, the parking garage and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office and Laboratory Lease Agreement (Viacell Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 60 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by LandlordLandlord plus the deductible (other than with respect to an earthquake damage claim) applicable to the insurance claim in question. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Summit Bank Corp)

Casualty Damage. A. 16.1 If all or any part portion of the Premises is damaged becomes untenantable by fire or other casualtycasualty to the Premises (collectively a “Casualty”), Landlord, with reasonable promptness, shall cause a general contractor selected by Landlord to provide Landlord and Tenant shall immediately notify Landlord in writing. During any period with a written estimate of the amount of time that all or a material portion required using standard working methods to Substantially Complete the repair and restoration of the Premises and any Common Areas necessary to provide access to the Premises (“Completion Estimate”). If the Completion Estimate indicates that (a) the Premises or (b) any Common Areas necessary to provide access to the Premises or (c) more than 10% of the parking available to Tenant cannot be made tenantable within 270 days from the date the repair is rendered untenantable as a result started, then either party shall have the right to terminate this Lease upon written notice to the other within ten (10) days after receipt of a fire or other the Completion Estimate (except that in the event of (c) above, Landlord shall have to option of providing commercially reasonable replacement and/or satellite parking, within sixty (60) days of the casualty, whereupon Tenant’s termination right shall be void with respect to such casualty). Tenant, however, shall not have the Rent shall xxxxx for right to terminate this Lease if the portion Casualty was caused by the negligence or intentional misconduct of Tenant or any Tenant Related Parties. In addition, Landlord, by notice to Tenant within ninety (90) days after the date of the Premises that is untenantable and not used by Tenant. Landlord Casualty, shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years one year of the Term remaining on the date of the casualtyCasualty; (42) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (53) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Gomez Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. In addition to Landlord’s right to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (a) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired within 60 days after receipt of the Completion Estimate (defined in XVII.B. below); (b) there is less than 3 years of the Term remaining on the date of such casualty; and (c) Tenant provides Landlord with written notice of its intent to terminate within 30 days after the date of the fire or other casualty. If neither Landlord does not terminate nor Tenant terminates this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Behringer Harvard Opportunity REIT I, Inc.)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years one (1) year of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. In addition to Landlord's rights to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (a) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired within sixty (60) days after the date of such fire or other casualty; (b) there is less than one (1) year of the Lease Term remaining on the date of such casualty; (c) the casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (d) Tenant provides Landlord with written notice of its intent to terminate within thirty (30) days after the date of the fire or other casualty. If neither Landlord does not nor Tenant elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Drugstore Com Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable isuntenantable and not used by TenantTenant effective from the date that said fire or casualty occurred. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Homebanc Corp)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 18 months of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. In addition to Landlord's right to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (a) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired within 60 days after receipt of the Completion Estimate (defined in XVII.B. below); (b) there is less than 18 months of the Term remaining on the date of such casualty; (c) the casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (d) Tenant provides Landlord with written notice of its intent to terminate within 30 days after the date of the fire or other casualty. If neither Landlord does not nor Tenant terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Ziprealty Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx axxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building Buildings shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building Buildings shall be required (whether or not the Premises has been damaged) (ie, if at least 33% of the Rentable Square Footage of the Buildings will require such alteration or reconstruction); (2) Landlord is not permitted by Law to rebuild the Building Buildings in substantially the same form as existed before the fire or casualtycasualty and Tenant has not exercised any extension option; (3) the Premises have been materially damaged and there is less than 2 years 1 year of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occursBuildings occurs which is not the result of Landlord's failure to maintain insurance required hereunder. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 60 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building Buildings and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Siebel Systems Inc)

Casualty Damage. A. If all the Premises or any part common areas of the Premises is Property providing access thereto shall be damaged by fire or other casualty, Tenant Landlord shall immediately notify use available insurance proceeds to restore the same. Such restoration shall be to substantially the condition prior to the casualty, except for modifications required by zoning and building codes and other Laws or by any Holder (as defined in Article 25), any other modifications to the common areas deemed desirable by Landlord in writing. During any period of time that all or a material portion of (provided access to the Premises is rendered untenantable not materially impaired), and except that Landlord shall not be required to repair or replace any of Tenant’s furniture, furnishings, fixtures or equipment, or any alterations or improvements in excess of any work performed or paid for by Landlord under any separate agreement signed by the parties in connection herewith. Landlord shall not be liable for any inconvenience or annoyance to Tenant or its visitors, or injury to Tenant’s business resulting in any way from such damage or the repair thereof. However, Landlord shall allow Tenant a proportionate abatement of Base Rent during the time and to the extent the Premises are unfit for occupancy for the purposes permitted under this Lease and not occupied by Tenant as a result of a fire thereof (unless Tenant or other casualty, its employees or agents caused the Rent shall xxxxx for damage). Notwithstanding the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied foregoing to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. contrary, Landlord may exercise its right elect to terminate this Lease by notifying Tenant in writing of such termination within 90 sixty (60) days after the date of damage (such termination notice to include a termination date providing at least ninety (90) days for Tenant to vacate the casualty. If Landlord does not terminate this LeasePremises), Landlord if the Property shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed be materially damaged by Tenant in violation of this Lease). Howeveror its employees or agents, in no event or if the Property shall Landlord be required to spend more than the insurance proceeds received damaged by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating cause such that: (a) repairs to the matters addressed in this ArticlePremises and access thereto cannot reasonably be completed within 120 days after the casualty without the payment of overtime or other premiums, and agree that their respective rights for damage to or destruction (b) more than 25% of the Premises is affected by the damage, and fewer than 24 months remain in the Term, or any material damage occurs to the Premises during the last 12 months of the Term, (c) any Holder (as defined in Article 25) shall require that the insurance proceeds or any portion thereof be used to retire the Mortgage debt (or shall terminate the ground lease, as the case may be), or the damage is not fully covered by Landlord’s insurance policies, or (d) the cost of the repairs, alterations, restoration or improvement work would exceed 25% of the replacement value of the Building, or the nature of such work would make termination of this Lease necessary or convenient. Tenant agrees that Landlord’s obligation to restore, and the abatement of Base Rent provided herein, shall be those specifically provided Tenant’s sole recourse in the event of such damage, and waives any other rights Tenant may have under any applicable Law to terminate the Lease by reason of damage to the Premises or Property, including all rights under California Civil Code, Sections 1932(2), 1933(4), and 1942, as the same may be modified or replaced hereafter. Tenant acknowledges that this LeaseArticle represents the entire agreement between the parties respecting damage to the Premises or Property.

Appears in 1 contract

Samples: Office Lease (NGTV)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for abatx xxx the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Zamba Corp)

Casualty Damage. A. If all or any part of the Premises is shall be damaged by fire or other casualty, Tenant shall immediately notify Landlord in writinggive prompt written notice to Landlord. During If the Building or any period of time that all part thereof or a material portion of the Premises is rendered untenantable as a result of a access thereto shall be so damaged or destroyed by fire or other casualty, the Rent shall xxxxx for the portion of the Premises casualty that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall and access thereto shall, in the good faith and reasonable determination of the Landlord’s architect, be required with such repair taking longer than one hundred eighty (180) days (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises shall have been materially damaged and there is less than 2 years of by such casualty), or in the Term remaining on the date of the casualty; (4) event any Mortgagee requires should require that the insurance proceeds be applied to the payment of the mortgage debt; , or (5) a in the event of any material uninsured loss to the Building, or in the event of any substantial damage to the Building occurs. within the final two (2) Lease Years of the Initial Term or an exercised Renewal Term, Landlord may exercise may, at its right to option, terminate this the Lease by notifying Tenant in writing within 90 thirty (30) days after the date of such damage. In case the casualtyPremises shall be so damaged by fire or other casualty that substantial alteration or reconstruction of the Building shall, in the mutual good faith and reasonable determination of the Landlord’s architect, be required, Tenant shall have the right to terminate this Lease upon thirty (30) days prior written notice to Landlord if Landlord (i) has not completed, (ii) cannot complete or (iii) in the opinion of the Landlord’s architect, cannot reasonably be expected to complete substantially the making of any required repairs and restorations within one hundred eighty (180) days from the date of such damage or destruction. If In addition, if any such damage or destruction shall occur during the last two (2) Lease Years of the Initial Term or an exercised Renewal Term, Tenant, at its option, may terminate this Lease by giving prior written notice to Landlord within thirty (30) days after the events specified in clauses (i), (ii), or (iii) above occur or become determinable. Rent shall xxxxx and be prorated as of the date such damage occurs and during any period of repair and restoration to the extent the Premises or any material part thereof are rendered unusable or access thereto is denied Tenant. Subject to the provisions of any deed of trust encumbering the Building, if Landlord or Tenant does not thus elect to terminate this Lease, Landlord shall commence and diligently proceed with reasonable diligence to restore and repair and restore (to the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation extent of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord) the Building or the Project and the Premises to substantially the same condition in which it was immediately prior to the happening of the casualty except that Landlord’s obligation to restore shall not exceed the scope of Landlord’s Work, adjusted for inflation, in originally constructing the Building or the Project, as applicable. When the Landlord’s Work with respect to such reconstruction or restoration has been completed, Landlord and Tenant shall complete the restoration of the Premises, including the reconstruction of all leasehold improvements and the restoration of Tenant’s furniture and equipment. Landlord shall not be liable for any loss inconvenience or damage annoyance to Tenant's Property Tenant or injury to the business of Tenant resulting in any way from such damage or repair, except that Landlord shall allow Tenant a fair diminution of Rent during the fire time and to the extent the Premises or other any material portion thereof are unfit for occupancy or access to the Premises is materially affected. Notwithstanding anything contained herein to the contrary, if the casualty results from the fault or from gross negligence of Tenant or any of Tenant’s agents, employees or invitees, (i) Rent shall not be diminished during the repair of such damage, (ii) Tenant shall be liable to Landlord for the cost of the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating Building to the matters addressed in this Articleextent such cost and expense is not covered by insurance proceeds, and agree that their respective rights for damage (iii) Tenant shall have no right to or destruction of the Premises shall be those specifically provided in terminate this Lease.

Appears in 1 contract

Samples: Lease Agreement (Chelsea Therapeutics International, Ltd.)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. casualty provided the effective date of such termination gives Tenant at least 30 days to vacate the Premises.. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease. B. If all or any portion of the Premises shall be made untenantable by fire or other casualty, Landlord shall, with reasonable promptness, cause an architect or general contractor selected by Landlord to provide Landlord and Tenant with a written estimate of the amount of time required to substantially complete the repair and restoration of the Premises and make the Premises tenantable again, using standard working methods ("Completion Estimate"). If the Completion Estimate indicates that the Premises cannot be made tenantable within 210 days from the date the repair and restoration is started, then regardless of anything in Section XVII.A above to the contrary, either party shall have the right to terminate this Lease by giving written notice to the other of such election within 10 days after receipt of the Completion Estimate. Tenant, however, shall not have the right to terminate this Lease if the fire or casualty was caused by the negligence or intentional misconduct of Tenant, Tenant Related Parties or any of Tenant's transferees, contractors or licensees. XVIII.

Appears in 1 contract

Samples: Office Lease Agreement (Centura Software Corp)

Casualty Damage. A. 17.1 If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building Property or the Premises shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building Property not covered by insurance shall be required (whether or not the Premises has been damaged)) and Landlord is therefore terminating all leases in the Building; (2) Landlord is not permitted by Law to rebuild the Building Property or the Premises in substantially the same form as existed before the fire or casualtycasualty (in which event Tenant may also terminate this Lease); (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the such insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building Property or the Premises occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building Premises and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Zymogenetics Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for allocable to the portion of the Premises that is rendered untenantable shall xxxxx from the date of such damage and such abatement shall continue until the earlier of (y) thirty (30) days after the Landlord delivers possession of the Premises (or affected part thereof) to Tenant with Landlord’s restoration work complete, or (z) the date Tenant re-occupies and commences business operations in such portion of the Premises. Unless prohibited by applicable Laws or other safety reasons reasonably determined by Landlord and subject to Landlord’s reasonable requirements in connection with the performance of the Landlord’s repair work, Tenant shall have the right to continue to occupy any damaged portions of the Premises even though the same may be untenantable. Landlord shall be obligated to repair or provide services to such damaged space only to the extent reasonable under the circumstances. As used in this Section XVII, “untenantable” shall include any material adverse effect on the Premises and Tenant’s use thereof or access thereto, including the inability of Tenant to lawfully occupy or use any part of the Premises by reason of any order or direction of any governmental authority, whether or not used by Tenantthe Premises or any particular portion thereof are damaged. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, demolition, substantial alteration or substantial reconstruction of the Building shall be required (whether or not the Premises has been damaged); or (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; or (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualtycasualty unless within ten (10) Business Days after receipt of Landlord’s notice of termination pursuant to this Section, Tenant exercises its Renewal Option contained in Section I of Exhibit E, in which case this Lease shall remain in effect through the end of such Renewal Term; or (4) any Mortgagee requires that a material portion of the insurance proceeds be applied to the payment of the mortgage debtdebt and there are not sufficient remaining proceeds to complete the necessary restoration; or (5) in spite of the fact that Landlord is maintaining the insurance coverages required under this Lease, a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 75 days after the date of the casualty. If Landlord does not terminate elects to rebuild pursuant to this Leaseparagraph or fails to deliver a termination notice within the applicable 75 day period, Landlord shall promptly notify Tenant in writing if the Building will not be rebuilt to a standard that is substantially consistent with Class A buildings in the Downtown Minneapolis Central Business District (containing substantially similar amenities to those in the Building as of the date immediately prior to the casualty). If the Building will not be rebuilt to a standard that is substantially consistent with Class A buildings in the Downtown Minneapolis Central Business District (containing substantially similar amenities to those in the Building as of the date immediately prior to the casualty), Tenant shall have the right for a period of thirty (30) days after receiving Landlord’s notice to terminate this Lease by delivering written notice of such election to Landlord. If Landlord and Tenant have not elected to terminate the Lease pursuant to this paragraph, Landlord will use commercially reasonable efforts to commence to repair and restore the Building and the Leasehold Improvements within 75 days after the date of the casualty. Thereafter, Landlord will proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements, provided that Landlord receives sufficient proceeds from Tenant or Tenant’s insurance to restore the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease), within 365 days after the date of the casualty. HoweverThe timing set forth herein with respect to Landlord’s obligation to commence and complete repair and restoration of the Building and the Leasehold Improvements shall be extended due to events of Force Majeure or delays caused solely by Tenant. If Landlord fails to complete such repair and/or restoration within such 365 day period, in no event then Tenant shall have the right to terminate this Lease on thirty (30) days prior written notice to Landlord, except that such termination shall be rescinded if Landlord be required delivers possession of the Premises (or affected part thereof) to spend more than Tenant with Landlord’s restoration work complete before the insurance proceeds received by Landlordend of the thirty (30) day notice period. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease. Any provision of the Lease to the contrary notwithstanding, Landlord shall not terminate this Lease pursuant to this Section XVII.A., unless Landlord simultaneously terminates the leases of other similarly situated and affected tenants in the Building.

Appears in 1 contract

Samples: Office Lease Agreement (Piper Jaffray Companies)

Casualty Damage. A. 16.01 If all or any part portion of the Premises is damaged becomes unusable for the reasonable operation of Tenant’s business or inaccessible by fire or other casualtycasualty to the Premises or the Common Areas (collectively a “Casualty”), Tenant Landlord, with reasonable promptness, but not later than sixty (60) days after the date of the Casualty, shall immediately notify cause a licensed general contractor selected by Landlord in writing. During any period to provide Landlord with a reasonable written estimate of the amount of time that all or a material portion required, using standard working methods, to substantially complete the repair and restoration of the Premises is rendered untenantable as and any Common Areas necessary to provide access to the Premises (“Completion Estimate”). Landlord shall promptly forward a result copy of a fire the Completion Estimate to Tenant. If the Completion Estimate indicates that the Premises or other casualty, any Common Areas necessary to provide access to the Rent shall xxxxx Premises cannot be made usable for the portion reasonable operation of Tenant’s business within one hundred eighty (180) days from the date of the Premises that is untenantable and not used by Tenant. damage, then Landlord shall have the right to terminate this Lease if: upon written notice to Tenant within ten (10) Business Days after Tenant’s receipt of the Completion Estimate. If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made usable for the reasonable operation of Tenant’s business within one (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on year from the date of the casualty; (4) any Mortgagee requires that damage, then Tenant shall have the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing upon written notice to Landlord within 90 days ten (10) Business Days after the date Tenant’s receipt of the casualtyCompletion Estimate; except that if the damage occurs during the final two (2) years of the Term, a period of one hundred eighty (180) days, rather than one (1) year, shall apply. If Landlord does Tenant, however, shall not have the right to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore Lease if the Building and Casualty was caused by the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss gross negligence or damage to Tenant's Property or to the business willful misconduct of Tenant resulting in or any way from the fire or other casualty or from the repair and restoration of the damageTenant Related Parties. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.As used herein “

Appears in 1 contract

Samples: Office Lease Agreement (Zulily, Inc.)

Casualty Damage. A. If all If: (a) the Building or any Project or a material part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building Common Areas shall be so damaged so thatthat substantial alteration or reconstruction shall, in Landlord's reasonable judgmentopinion, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has shall have been damageddamaged by the casualty); or (2b) Landlord is not permitted by Law to rebuild the Building or Project or a material part of the Common Areas in substantially the same form as it existed before the fire damage; or casualty; (3c) the Premises have been shall be materially damaged and there is less than 2 by casualty during the last two years of the Term remaining on the date of the casualtyLease Term; or (4d) any Mortgagee mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5e) a material uninsured loss to the Building occurs. damage is not fully covered by insurance maintained by Landlord; then Landlord may exercise its right to terminate this Lease by notifying Tenant in writing may, within 90 days after the date casualty, give notice to Tenant of Landlord's election to terminate this Lease, and the balance of the casualtyLease Term shall automatically expire on the fifth day after the notice is delivered. If Landlord does not elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that Premises to substantially the same condition they were performed by Tenant in violation of this Lease)immediately before the casualty. However, in no event Landlord shall Landlord not be required to spend more than restore any unleased premises in the Building or any portion of Tenant's property. Rent shall xxxxx in proportion to the portion of the Premises not usable by Tenant as a result of any casualty resulting in damage to the Building which is covered by insurance proceeds received carried or required to be carried by LandlordLandlord under this Lease, as of the date on which the Premises becomes unusable. Landlord shall not otherwise be liable to Tenant for any loss delay in restoring the Premises or damage any inconvenience or annoyance to Tenant or injury to Tenant's Property or to the business of Tenant resulting in any way from the fire damage or other casualty or from the repair and restoration repairs, Tenant's sole remedy being the right to an abatement of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this LeaseRent.

Appears in 1 contract

Samples: Office Lease (Riot Blockchain, Inc.)

Casualty Damage. A. If all the Premises or any part of the Premises is thereof shall be damaged by fire or other casualty, Tenant shall immediately notify Landlord in writinggive prompt written notice thereof to Landlord. During any period of time that all or a material portion In case the more than 50% of the Premises Building is rendered untenantable damaged or in the event there is less than one (1) year of the Lease Term remaining or in the event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds casualty be applied to the payment of the mortgage debt; debt or (5) a in the event of any material uninsured loss to the Building occurs. (other than an uninsured loss resulting from Landlord’s failure to carry the insurance required under Section 1l.A above), Landlord may exercise may, at its right to option, terminate this Lease by notifying Tenant in writing of such termination within 90 sixty (60) days after the date of such casualty. If Landlord does not elect to terminate this Lease pursuant to the foregoing termination right, Landlord shall deliver to Tenant within sixty (60) days after the date of the casualtydamage, a reasonable estimate of the time required to repair and restore the Building (the “Repair Estimate”). If Landlord does not thus elect to terminate this LeaseLease pursuant to the foregoing and Tenant does not elect to terminate this Lease as provided below, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and Building, excluding the Leasehold Improvements improvements installed or placed in the Premises by Landlord or Tenant at Tenant’s expense (excluding any Alterations that were performed by Tenant whether under the Existing Lease or this Lease ) to substantially the same condition in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or which it was immediately prior to the business happening of Tenant resulting the casualty and shall use commercially reasonable efforts to complete such restoration within the time period set forth in any way from the Repair Estimate. If as a result of such fire or other casualty the Premises or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Articlepart thereof have been damaged, and agree provided that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.Repair Estimate states that repair and

Appears in 1 contract

Samples: Industrial Building Lease Agreement (Scynexis Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in In writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements leasehold improvements (excluding any Alterations alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property personal property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law law relating to the matters addressed in this ArticleSection, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Short Term Lease Agreement (Internet Capital Group Inc)

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Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or the cost of repair and reconstruction will exceed 30% of the Building shall be required (whether or not replacement cost of the Premises has been damaged)Building; (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) more than 30% of the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occursoccurs and Landlord elects not to repair or reconstruct the Building. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building Building, the Premises, and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord; provided that if Landlord does not have sufficient proceeds to substantially complete the restoration of the Leasehold Improvements in the Premises and Landlord elects not to fund any shortfall, Landlord shall so notify Tenant and Tenant, within ten (10) days thereafter, shall have the right to terminate this Lease by the giving of written notice to Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.. 13

Appears in 1 contract

Samples: Office Lease Agreement (Avenue a Inc)

Casualty Damage. A. 16.01 If all or any part portion of the Premises is damaged becomes untenantable by fire or other casualtycasualty to the Premises (collectively a “Casualty”), Landlord, as quickly as reasonably possible, shall cause a general contractor selected by Landlord to provide Landlord and Tenant shall immediately notify Landlord in writing. During any period with a written estimate of the amount of time that all or a material portion required using standard working methods to Substantially Complete (as defined below) the repair and restoration of the Premises and any Common Areas necessary to provide access to the Premises (“Completion Estimate”). If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made tenantable within 270 days from the date the repair is rendered untenantable as a result of a fire or started, then either party shall have the right to terminate this Lease upon written notice to the other casualty, the Rent shall xxxxx for the portion within 10 days after receipt of the Premises that is untenantable and Completion Estimate. Tenant, however, shall not used have the right to terminate this Lease if the Casualty was caused by Tenantthe negligence or intentional misconduct of Tenant or any Tenant Related Parties. Landlord In addition, Landlord, by notice to Tenant within 90 days after the date of the Casualty, shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 1 year of the Term remaining on the date of the casualtyCasualty; (42) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (53) a material uninsured loss to the Building occursor Premises occurs (provided Landlord’s Insurance was in full force and effect as required by Section 14). Landlord may exercise its In addition to Landlord’s right to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (a) a substantial portion of the Premises has been damaged by notifying Casualty and such damage cannot reasonably be repaired within 60 days after receipt of the Completion Estimate; (b) there is less than 1 year of the Term remaining on the date of the Casualty; (c) the Casualty was not caused by the negligence or willful misconduct of Tenant in writing or its agents, employees or contractors; and (d) Tenant provides Landlord with written notice of its intent to terminate within 90 30 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration ’s receipt of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this LeaseCompletion Estimate.

Appears in 1 contract

Samples: Office Lease Agreement (Magma Design Automation Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately promptly notify Landlord in writingwriting (which may be satisfied by email to the property manager). During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualtycasualty (whether to the Premises or to the Building), the Rent shall xxxxx for the portion of the Premises that is untenantable and not used for the Permitted Use by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) there is substantial damage to the Building and any Mortgagee requires that all or a material portion of the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 60 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by LandlordLandlord together with the amount of any insurance deductible or copay. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Thimble Point Acquisition Corp.)

Casualty Damage. A. If all the Conduit or Equipment Area or any part of the Premises is thereof shall be damaged by fire or other casualty, Tenant Licensee shall immediately notify Landlord in writinggive prompt written notice thereof to Owner. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) In case the Building shall be damaged so that, in Landlord's reasonable judgment, such that substantial alteration or reconstruction of the Building shall be Building, in Owner’s reasonable opinion, is required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire Conduit or casualty; (3) the Premises Equipment Area shall have been materially damaged and there is less than 2 years by such casualty) or in the event any mortgagee of the Term remaining on the date of the casualty; (4) any Mortgagee requires Owner’s should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt; debt or (5) a in the event of any material uninsured loss to the Building occurs. Landlord may exercise Building, Owner may, at its right to option, terminate this Lease License by notifying Tenant Licensee in writing of such termination within 90 ninety (90) days after the date of the such casualty. If Landlord Owner does not thus elect to terminate this LeaseLicense, Landlord Owner shall commence and proceed with reasonable diligence to repair and restore the Building and improvements located within the Leasehold Improvements (excluding any Alterations mechanical rooms in which the Conduit is located; except that were performed by Tenant in violation of this Lease). However, in no event Owner’s obligation to restore shall Landlord be required not require Owner to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordOwner as a result of the casualty. Landlord When the repairs described in the preceding sentence have been completed by Owner, Licensee shall then complete the restoration of such improvements in excess of the improvements performed by Owner as necessary to permit Licensee’s resumption of operations in the Conduit and Equipment Area pursuant to the final working drawings and specifications approved by Owner (“Improvements Restoration”). Construction of the Improvements Restoration shall be completed within two (2) months after Owner first notifies Licensee that the improvements have been completed. All cost and expense of completing the Improvements Restoration shall be borne by Licensee. Owner shall not be liable for any loss inconvenience or damage annoyance to Tenant's Property Licensee or injury to the business of Tenant Licensee resulting in any way from the fire such damage or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Leasethereof.

Appears in 1 contract

Samples: Lease Agreement (AutoTrader Group, Inc.)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualtycasualty to the Premises or Building, the Rent shall xxxxx for abatx xxx the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged)) and such damage cannot reasonably be repaired within 60 days after the date of such fire or other casualty; (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 18 months of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occursoccurs (other than due to Landlord's failure to maintain the All Risk property insurance required to be maintained by Landlord under Article XV of this Lease). Landlord may exercise its right to terminate this Lease by notifying Tenant in writing as soon as reasonably practicable, but in any event within 90 days after the date of the casualty. If Landlord does not In addition to Landlord's rights to terminate as provided herein, Tenant shall have the right to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore Lease if: (a) all or a material portion of the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation Premises is rendered untenantable as a result of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the a fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.the

Appears in 1 contract

Samples: Office Lease Agreement (Nova Corp \Ga\)

Casualty Damage. A. If all the Premises or any part of the Premises is thereof or access thereto shall be damaged by fire or other casualty, Tenant shall immediately notify Landlord in writingshall, give prompt written notice thereof to Landlord. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) In case the Building shall be so damaged so that, that in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2damaged by such casualty) or in the event Landlord is will not be permitted by Law applicable law to rebuild the Building in substantially the same form as existed before prior to the fire or casualty; (3) casualty or in the event the Premises have has been materially damaged and there is less than 2 years eighteen (18) months of the Lease Term remaining on the date of such casualty or in the casualty; (4) event any Mortgagee requires should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt; debt or (5) a in the event of any material uninsured loss to the Building occurs. Building, Landlord may exercise may, at its right to option, terminate this Lease by notifying Tenant in writing of such termination within 90 ninety (90) days after the date of such casualty. Such termination shall be effective as of the date of fire or casualty, with respect to any portion of the Premises that was rendered untenantable, and the effective date of termination specified in Landlord's notice, with respect to any portion of the Premises that remained tenantable. Notwithstanding anything in this Article XlX to the contrary, if the Premises or any portion thereof are rendered inaccessible or inadequate for the operation of Tenant's business as a result of a fire or other casualty, then the entire Premises shall be deemed to be untenantable by Tenant regardless of whether the entire Premises is physically damaged as a result of any such fire or casualty. If Landlord does not elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and Garage (provided that Landlord shall not be required to restore any unleased premises in the Building unless necessary to obtain a certificate of occupancy for the Premises or ameliorate a hazard) and the Leasehold Improvements (but excluding any Alterations that were performed improvements, alterations or additions made by Tenant in violation of this Lease)) located within the Premises, to the same condition they were in immediately prior to the happening of the casualty. However, in no event shall Landlord be required When repairs to spend more than the insurance proceeds received Premises have been completed by Landlord, Tenant shall complete the restoration or replacement of all Tenant's Property necessary to permit Tenant's reoccupancy of the Premises, and Tenant shall present Landlord with evidence reasonably satisfactory to Landlord of Tenant's ability to pay such costs prior to Landlord's commencement of repair and restoration of the Premises. Landlord shall not be liable for any loss inconvenience or damage annoyance to Tenant's Property Tenant or injury to the business of Tenant resulting in any way from the fire such damage or other casualty or from the repair thereof, except that Rent shall fully xxxxx on a per diem basis during the time and restoration to the extent any damage to the Premises causes the Premises to be rendered untenantabte and not used by Tenant. If a portion of the damagePremises is rendered untenantable or inaccessible, Rent shall xxxxx on a pro rata basis. Landlord and Tenant hereby waive the provisions of any Law law from time to time in effect during the Lease Term relating to the matters addressed in this Article, effect upon leases of partial or total destruction of leased property. Landlord and Tenant agree that their respective rights for in the event of any damage to or destruction of the Premises shall be those specifically provided in this Leaseset forth herein.

Appears in 1 contract

Samples: Office Lease Agreement (Trenwick Group Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occursoccurs (provided that during the Lease Term, Landlord shall maintain so-called “all-risk” property insurance covering the Building in an amount equal to 90% of the replacement cost thereof at the time in question). Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 75 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (New Century Equity Holdings Corp)

Casualty Damage. A. If all the Premises or any part of the Premises is thereof shall be damaged by fire or other casualty, Tenant shall immediately notify Landlord in writinggive prompt written notice thereof to Landlord. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) In case the Building shall be so damaged so that, in Landlord's reasonable judgment, that substantial alteration or reconstruction of the Building shall shall, in Landlord’s sole opinion, be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises shall have been materially damaged and by such casualty) or in the event there is less than 2 two (2) years of the Lease Term remaining on or in the date of the casualty; (4) any Mortgagee requires event Landlord’s mortgagee should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt; debt or (5) a in the event of any material uninsured loss to the Building occurs. Building, Landlord may exercise may, as its right to option, terminate this Lease by notifying Tenant in writing of such termination within 90 ninety (60) days after the date of the such casualty. If Landlord does not thus elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements improvements located within the Premises to substantially the same condition in which it was immediately prior to the happening of the casualty within a six (excluding any Alterations that were performed by Tenant in violation of 6) month time frame. If Landlord does not thus elect to terminate this Lease), Landlord shall commence and proceed with reasonable diligence to restore the Building, and the improvements located within the Premises to substantially the same condition in which it was immediately prior to the happening of the casualty. HoweverNotwithstanding the foregoing, in no event Landlord’s obligation to restore the Building, and the improvements located within the Premises shall not require Landlord be required to spend expend for such repair and restoration work more than the insurance proceeds actually received by Landlord as a result of the casualty. When the repairs described in the preceding two sentences have been completed by Landlord, Tenant shall complete the restoration of all furniture, fixtures and equipment which are necessary to permit Tenant’s re-occupancy of the Premises. Landlord shall not be liable for any loss inconvenience or damage annoyance to Tenant's Property Tenant or injury to the business of Tenant resulting in any way from such damage or the fire or other casualty or repair thereof, except that Rent shall be abated from the repair and restoration date of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction for any portion of the Premises that is unusable by Tenant, which abatement shall be those specifically in the same proportion that the Rentable Area of the Premises which is unusable by Tenant bears to the total Rentable Area of the Premises; provided in this Leasethat Tenant shall not be entitled to any abatement of Rent if the damage or destruction within the Premises is restored within five (5) Business Days after Landlord’s receipt of written notice from Tenant of the occurrence of the damage or destruction.

Appears in 1 contract

Samples: Office Lease Agreement (SurgePays, Inc.)

Casualty Damage. A. If all the Premises or any part of the Premises is thereof shall be damaged by fire or other casualty, Tenant Lessee shall immediately notify Landlord in writinggive prompt written notice thereof to Lessor. During any period of time that all or a material portion of In case the Premises is rendered untenantable as a result of a Building shall be damaged by fire or other casualty, but shall not be rendered untenantable in whole or in part, Lessor shall, at its sole expense, cause such damage to be repaired with reasonable diligence to substantially the Rent shall xxxxx for same condition in which it was immediately prior to the portion happening of the Premises that is untenantable casualty, and the Base Rental hereunder shall not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) be abated; however, in case the Building shall be so damaged so that, in Landlord's reasonable judgment, by fire or other casualty that substantial alteration or reconstruction of the Building shall shall, in Lessor's sole opinion, be required (whether or not the Premises has shall have been damageddamaged by such fire or other casualty); (2) Landlord is not permitted by Law to rebuild , or in the event any mortgagee under a mortgage or deed of trust covering the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires should require that the insurance proceeds payable as a result of said fire or other casualty be applied used to the payment of retire the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise , Lessor may, at its right to option, terminate this Lease and the term and estate hereby granted by notifying Tenant Lessee in writing of such termination within 90 sixty (60) days after the date of the casualtysuch damage. If Landlord Lessor does not thus elect to terminate this Lease, Landlord Lessor shall within seventy-five (75) days after the date of such damage commence and proceed with reasonable diligence to repair and restore the Building and shall proceed with reasonable diligence to restore the Leasehold Improvements Building (excluding except that Lessor shall not be responsible for delays outside its control) to substantially the same condition in which it was immediately prior to the happening of the casualty, except that Lessor shall not be required to rebuild, repair, or replace any Alterations that were performed part of Lessee's fixtures, equipment or other personal property removable by Tenant in violation Lessee under the provisions of this Lease). However, and Lessor shall not in no any event shall Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordLessor as a result of the fire or other casualty. Landlord Lessor shall not be liable for any loss inconvenience or damage annoyance to Tenant's Property Lessee or injury to the business of Tenant Lessee resulting in any way from such damage or the repair thereof, except that, subject to the provisions of the next sentence, Lessor shall allow Lessee a fair diminution of rent during the time and to the extent the Premises, or any portion thereof, are unfit for occupancy. If the Premises or any other portion of the Building be damaged by fire or other casualty resulting from the fault or from negligence of Lessee or any of Lessee's agents, employees, or invites, the rent hereunder shall not be diminished during the repair of such damage, and Lessee shall be liable to Lessor for the cost and expense of the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating Building caused thereby to the matters addressed in this Articleextent such cost and expense is not covered by insurance proceeds. Any insurance, and agree that their respective rights for which may be carried by Lessor or Lessee against loss or damage to the Building or destruction to the Premises, shall be for the sole benefit of the Premises shall be those specifically provided in this Leaseparty carrying such insurance and under its sole control.

Appears in 1 contract

Samples: Lease Agreement (Gold Bond Resources Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) one or both of the Building Buildings or the Project shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of one or both of the Building Buildings or the Project shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild one or both of the Building Buildings or the Project in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to one or both of the Building Buildings or the Project occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building Building(s) and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Intrabiotics Pharmaceuticals Inc /De)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgmentjudgment and subject to the Completion Estimate in Article XVII.B herein, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 1 year of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, Article and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Lecg Corp)

Casualty Damage. A. If all the Premises or any part of the Premises is thereof shall be damaged by fire or other casualty, Tenant Lessee shall immediately notify Landlord in writinggive prompt written notice thereof to Lessor. During any period of time that all or a material portion of In case the Premises is rendered untenantable as a result of a Building shall be damaged by fire or other casualty, but shall not be rendered untenantable in whole or in part, Lessor shall, at its sole expense, cause such damage to be repaired with reasonable diligence to substantially the Rent shall xxxxx for same condition in which it was immediately prior to the portion happening of the Premises that is untenantable casualty, and the Base Rental hereunder shall not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) be abated; however, in case the Building shall be so damaged so that, in Landlord's reasonable judgment, by fire or other casualty that substantial alteration or reconstruction of the Building shall shall, in Lessor's sole opinion, be required (whether or not the Premises has shall have been damageddamaged by such fire or other casualty); (2) Landlord is not permitted by Law to rebuild , or in the event any mortgagee under a mortgage or deed of trust covering the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires should require that the insurance proceeds payable as a result of said fire or other casualty be applied used to the payment of retire the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise , Lessor may, at its right to option, terminate this Lease and the term and estate hereby granted by notifying Tenant Lessee in writing of such termination within 90 sixty (60) days after the date of the casualtysuch damage. If Landlord Lessor does not thus elect to terminate this Lease, Landlord Lessor shall within seventy-five (75) days after the date of such damage commence and proceed with reasonable diligence to repair and restore the Building and shall proceed with reasonable diligence to restore the Leasehold Improvements Building (excluding except that Lessor shall not be responsible for delays outside its control) to substantially the same condition in which it Was immediately prior to the happening of the casualty, except that Lessor shall not be required to rebuild, repair, or replace any Alterations that were performed part of Lessee's fixtures, equipment or other personal property removable by Tenant in violation Lessee under the provisions of this Lease). However, and Lessor shall not in no any event shall Landlord be required to spend more than for such work an amount in excess of the insurance proceeds actually received by LandlordLessor as a result of the fire or other casualty. Landlord Lessor shall not be liable for any loss inconvenience or damage annoyance to Tenant's Property Lessee or injury to the business of Tenant Lessee resulting in any way from such damage or the repair thereof, except that, subject to the provisions of the next sentence, Lessor shall allow Lessee a fair diminution of rent during the time and to the extent the Premises, or any portion thereof, are unfit for occupancy. If the Premises or any other portion of the Building be damaged by fire or other casualty resulting from the fault or from Tenant Initials ___________ Landlord Initials___________ negligence of Lessee or any of Lessee's agents, employees, or invitees, the rent hereunder shall not be diminished during the repair of such damage, and Lessee shall be liable to Lessor for the cost and expense of the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating Building caused thereby to the matters addressed in this Article, extent such cost and agree that their respective rights for expense is not covered by insurance proceeds. Any insurance which may be carried by Lessor or Lessee against loss or damage to the Building or destruction of to the Premises shall be those specifically provided in this Leasefor the sole benefit of the party carrying such insurance and under its sole control.

Appears in 1 contract

Samples: Lease Agreement (IElement CORP)

Casualty Damage. A. 16.01 If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered becomes untenantable as a result of a fire by fire, earthquake or other casualtycasualty to the Premises, including, without limitation, a casualty to the Rent Premises resulting from an act of terrorism (collectively a “Casualty”), Landlord, with reasonable promptness, shall xxxxx for cause a general contractor selected by Landlord to provide Landlord and Tenant with a written estimate of the portion amount of time required using standard working methods to Substantially Complete the repair and restoration of the Premises and any Common Areas necessary to provide access to the Premises (“Completion Estimate”). If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made tenantable within 180 days from the date the repair is untenantable and started, then either party shall have the right to terminate this Lease upon written notice to the other within 10 days after receipt of the Completion Estimate. Tenant, however, shall not used have the right to terminate this Lease if the Casualty was caused by Tenantthe gross negligence or intentional misconduct of Tenant or any Tenant Related Parties. Landlord In addition, Landlord, by notice to Tenant within 90 days after the date of the Casualty, shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction each of the Building shall be required following conditions exists: (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3a) the Premises have been materially damaged and by Casualty; (b) there is less than 2 years 1 year of the Term remaining on the date of the casualtyCasualty; and (c) either (i) such damage cannot reasonably be repaired within 60 days after receipt of the Completion Estimate, or (ii) less than 6 months of the Term would remain after expiration of such 60-day period; (42) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (53) a material uninsured loss to the Building occurs. Landlord may exercise its In addition, Tenant shall have the right to terminate this Lease if: (a) a substantial portion of the Premises has been damaged by notifying Casualty and such damage cannot reasonably be repaired within 60 days after receipt of the Completion Estimate; (b) each of the following conditions exists: (i) there is less than 1 year of the Term remaining on the date of the Casualty; and (ii) either (x) such damage cannot reasonably be repaired within 60 days after receipt of the Completion Estimate, or (y) less than 6 months of the Term would remain after expiration of such 60-day period; (c) the Casualty was not caused by the gross negligence or willful misconduct of Tenant in writing or its agents, employees or contractors; and (d) Tenant provides Landlord with written notice of its intent to terminate within 90 45 days after the date of on which Landlord provides Tenant with the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this LeaseCompletion Estimate.

Appears in 1 contract

Samples: Office Lease Agreement (Drugstore Com Inc)

Casualty Damage. A. 16.01 If all or any part portion of the Premises is damaged becomes untenantable or inaccessible by fire or other casualtycasualty to the Premises or the Common Areas (collectively a “Casualty”), Tenant Landlord, with reasonable promptness, shall immediately notify cause a general contractor selected by Landlord in writing. During any period to provide Landlord with a written estimate of the amount of time that all or a material portion required, using standard working methods, to substantially complete the repair and restoration of the Premises is rendered untenantable as and any Common Areas necessary to provide access to the Premises (“Completion Estimate”). Landlord shall promptly forward a result of a fire or other casualty, the Rent shall xxxxx for the portion copy of the Premises that is untenantable and not used by Completion Estimate to Tenant. Landlord If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made tenantable within 270 days from the date of the Casualty, then either party shall have the right to terminate this Lease upon written notice to the other within 10 days after Tenant’s receipt of the Completion Estimate. Tenant, however, shall not have the right to terminate this Lease if the Casualty was caused by the intentional misconduct of Tenant or any Tenant Related Parties. In addition, Landlord, by notice to Tenant within 90 days after the date of the Casualty, shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 1 year of the Term remaining on the date of the casualtyCasualty; (42) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (53) a material uninsured loss to the Building or Premises occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Ironwood Pharmaceuticals Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 1 year of the Term remaining on the date of the casualty; or (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. In addition to Landlord’s right to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (a) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired within 60 days after receipt of the Completion Estimate (defined in XVII.B. below); (b) there is less than 1 year of the Term remaining on the date of such casualty; (c) the casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (d) Tenant provides Landlord with written notice of its intent to terminate within 30 days after the date of the fire or other casualty. If neither Landlord does not nor Tenant elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by LandlordLandlord available for restoration. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Idine Rewards Network Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 1 year of the Term remaining on the date of the casualty; or (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. In addition to Landlord's right to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (a) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired within 60 days after receipt of the Completion Estimate (defined in XVII.B. below); (b) there is less than 1 year of the Term remaining on the date of such casualty; (c) the casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (d) Tenant provides Landlord with written notice of its intent to terminate within 30 days after the date of the fire or other casualty. If neither Landlord does not nor Tenant elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by LandlordLandlord available for restoration. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Idine Rewards Network Inc)

Casualty Damage. A. If all the Premises or any part of the Premises is thereof shall be damaged by fire or other casualty, Tenant shall immediately notify Landlord in writinggive prompt written notice thereof to Landlord. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) In case the Building shall be so damaged so that, that in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2damaged by such casualty) or in the event Landlord is will not be permitted by Law applicable law to rebuild the Building in substantially the same form as existed before prior to the fire or casualty; (3) casualty or in the event the Premises have has been materially damaged and there is less than 2 two (2) years of the Lease Term remaining on the date of such casualty or in the casualty; (4) event any Mortgagee requires should require that the insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt; debt or (5) a in the event of any material uninsured loss to the Building occurs. Building, Landlord may exercise may, at its right to option, terminate this Lease by notifying Tenant in writing of such termination within 90 sixty (60) days after the date of such casualty. Such termination shall be effective as of the date of fire or casualty, with respect to any portion of the Premises that was rendered untenantable. and the effective date of termination specified in Landlord's notice, with respect to any portion of the Premises that remained tenantable. If Landlord does not elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building building (provided that Landlord shall not be required to restore any unleased premises in the Building) and the Leasehold Improvements (but excluding any Alterations that were performed improvements, alterations or additions made by Tenant in violation of this Lease)) located within the Premises, if any, which Landlord has insured or was obligated to insure to substantially the same condition they were in immediately prior to the happening of the casualty. HoweverNotwithstanding the foregoing, in no event Landlord's obligation to restore the Building, and the Leasehold Improvements, if any, shall not require Landlord be required to spend expend for such repair and restoration work more than the insurance proceeds actually received by the Landlord as a result of the casualty (or which would have been received had Landlord insured the Property as required herein): provided that if Landlord does not have sufficient proceeds to substantially complete the restoration of the Leasehold Improvements in the Premises and Landlord elects not to fund any shortfall, Landlord shall so notify Tenant and Tenant, within tan (10) days thereafter, shall have the right to terminate this Lease by the giving of written notice to Landlord. When repairs to the Premises have been completed by Landlord, Tenant shall complete the restoration or replacement of all Tenant's Property necessary to permit Tenant's reoccupancy of the Premises, and Tenant shall present Landlord with evidence satisfactory to Landlord of Tenant's ability to pay such costs prior to Landlord's commencement of repair and restoration of the Premises. Landlord shall not be liable for any loss inconvenience or damage annoyance to Tenant's Property Tenant or injury to the business of Tenant resulting in any way from such damage or the repair thereof, except that, subject to the provisions of the next sentence, Landlord shall allow Tenant a fair diminution of Rent on a per them basis during the time and to the extent any damage to the Premises causes the Premises to be rendered untenantable and not used by Tenant. If the Promises or any other portion of the Building is damaged by fire or other casualty resulting from the negligence of Tenant or from any Tenant Related Parties, the Rent hereunder shall not be diminished during any period during which the Premises, or any portion thereof, is untenantable (except to the extent Landlord is entitled to be reimbursed by the proceeds of any rental interruption insurance), and Tenant shall be liable to Landlord for the cost of the repair and restoration of the damageBuilding caused thereby to the extent such cost and expense is not covered by insurance proceeds. Landlord and Tenant hereby waive the provisions of any Law law from time to time in effect during the Lease Term relating to the matters addressed in this Article, effect upon leases of partial or total destruction of leased property. Landlord and Tenant agree that their respective rights for in the event of any damage to or destruction of the Premises shall be those specifically provided in this Leaseset forth herein.

Appears in 1 contract

Samples: Office Lease Agreement (Information Management Associates Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable untenantable, or if the Building is damaged such that Tenant is deprived of reasonable access to the Premises, as a result of a fire or other casualty, the Rent shall xxxxx for abatx xxx the portion of the Premises that is untenantable or inaccessible and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 18 months of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs, provided that if the Premises are not damaged, Landlord may not terminate this Lease unless Landlord similarly terminates the leases of at least 50% of the other tenants in the Building. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Engage Inc)

Casualty Damage. A. 17.01 If all or any part portion of the Premises is damaged becomes untenantable by fire or other casualtycasualty to the Premises (collectively a “Casualty”), Landlord, with reasonable promptness, shall cause a general contractor selected by Landlord to provide Landlord and Tenant shall immediately notify Landlord in writing. During any period with a good faith written estimate of the amount of time that all or a material portion required using standard working methods to substantially complete the repair and restoration of the Premises is rendered untenantable as a result and any Common Areas necessary to provide access to the Premises (the “Completion Estimate”). If the Completion Estimate indicates that the Premises or any Common Areas necessary to provide access to the Premises cannot be made tenantable within two hundred ten (210) days from the date of a fire or other such casualty, then either party shall have the Rent shall xxxxx for right to terminate this Lease upon written notice to the portion other within ten (10) days after receipt of the Completion Estimate. In addition, Landlord or Tenant, by notice to the other within ten (10) business days after receipt of the Completion Estimate, shall have the right to terminate this Lease if there is less than eighteen (18) months remaining in the Lease Term as of the date of the Casualty, and the Completion Estimate indicates that it will require more than the lesser of (a) 180 days or (b) half of the remaining Lease Term (as of the date of the Completion Estimate) to cause the Premises that is untenantable and to be made tenantable. Tenant, however, shall not used have the right to terminate this Lease if the Casualty was caused by Tenantthe gross negligence or intentional misconduct of Tenant or any Tenant Related Parties. Landlord In addition, Landlord, by notice to Tenant within ninety (90) days after the date of the Casualty, shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (52) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Alarm.com Holdings, Inc.)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 1 year of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material material, uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. In addition to Landlord's right to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (a) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired within 60 days after receipt of the Completion Estimate (defined in XVII.B. below); (b) there is less than 1 year of the Term remaining on the date of such casualty; (c) the casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (d) Tenant provides Landlord with written notice of its intent to terminate within 30 days after the receipt of the Completion Estimate. Notwithstanding the foregoing, Landlord will not be entitled to terminate this Lease solely because there is less than 2 years on the Term if Tenant has an exercisable right to renew or extend the Term and Tenant, within 10 days after receipt of Landlord's notice of termination, validly exercises such right. The foregoing shall not prohibit Landlord from exercising its right to terminate for any of the other reasons set forth herein. If neither Landlord does not or Tenant elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord, provided that if Landlord does not have sufficient insurance proceeds to substantially complete the restoration of the Leasehold Improvements in the Premises and Landlord elects not to fund any shortfall, Landlord shall so notify Tenant and Tenant, within 10 days thereafter, shall have the right to terminate this Lease by the giving of written notice to Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Jamdat Mobile Inc)

Casualty Damage. A. If all or any part of a. Tenant's Right to Terminate: if the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged or destroyed by fire, windstorm or any other insured casualty, the Tenant shall immediately give written notice thereof to Landlord and unless this Lease is terminated as hereinafter provided, the Landlord, at his own expense, shall repair or rebuild the same so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not as to restore the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire condition they were in immediately prior to such damage or casualty; (3) the Premises have been materially damaged destruction, subject however, to zoning and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires building laws then in existence, provided that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable responsible for any loss delay in such repair or reconstruction which may result from any cause beyond its reasonable control, and provided further that the Landlord shall not be required to expend more than the net amount of insurance proceeds, if any received, by Landlord for such purposes, plus the amount of any deductible, so long as the Landlord maintains the insurance required of it under this Lease. Notwithstanding the foregoing, the Landlord within 30 days after receipt of said written notice of damage, shall inform the Tenant if said damage can be repaired within 120 days, based upon a reasonable estimate of the Landlord's architect and Engineer. If the Landlord notifies the Tenant it cannot repair or rebuild the Premises so as to Tenant's Property or restore the same to substantially the same condition they were in immediately prior to the business destruction within said 120 days, or if in fact the Premises is not restored within 120 days, then in either of such event, the Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating may elect to cancel this Lease upon notice to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this LeaseLandlord.

Appears in 1 contract

Samples: Avici Systems Inc

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualtycasualty (whether such casualty directly damages the Premises or other parts of the Building), the Rent shall xxxxx axxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building or the Project in substantially the same form as existed before the fire or casualty; (32) the Premises have been materially damaged and there is less than 2 years one (1) year of the Term remaining on the date of the casualty; (43) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (54) a material uninsured loss to the Building occursor the Project occurs (provided that at the time of the casualty, Landlord maintained commercially reasonable policies of insurance covering the Building). Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Premises Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Lease Agreement (Vivani Medical, Inc.)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 1 year of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. In addition to Landlord’s rights to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (1) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired within sixty (60) days after the date of such fire or other casualty; (2) there is less than one (1) year of the Lease Term remaining on the date of such casualty; (3) the casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (4) Tenant provides Landlord with written notice of its intent to terminate within thirty (30) days after the date of the fire or other casualty. If neither Landlord does not nor Tenant elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Brightmail Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx abate for the portion of the Premises that is untenantable and not xot used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 1 year of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. In addition to Landlord's rights to terminate as provided herein, Tenant shall have the right to terminate this Lease if all of the following conditions occur: (1) a substantial portion of the Premises (i.e., greater than 25%) has been damaged by fire or other casualty and such damage cannot reasonably be repaired within sixty (60) days after the date of such fire or other casualty; and (2) there is less than one (1) year of the Lease Term remaining on the date of such casualty; and (3) the casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (4) Tenant provides Landlord with written notice of its intent to terminate within thirty (30) days after the date of the fire or other casualty. If neither Landlord does not terminate nor Tenant terminates this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Fundtech LTD)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualtycasualty , the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 ' years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty .In addition to Landlord's rights to terminate as provided herein, Tenant shall have the right to terminate this Lease if: (1) a substantial portion of the Premises has been damaged by fire or other casualty and such damage cannot reasonably be repaired within 60 days after the date of such fire or other casualty. If ; (2) there is less than one year of the Lease Term remaining on the date of such casualty; (3) the casualty was not caused by the negligence or willful misconduct of Tenant or its agents, employees or contractors; and (4) Tenant provides Landlord does not with written notice of its intent to terminate within 30 days after the date of the fire or other casualty .If neither Landlord nor Tenant elect to terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Indus International Inc)

Casualty Damage. A. If all or any material part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant Landlord in writing within 90 days after the date of the fire or other casualty; provided that Tenant is provided at least 60 days to vacate. If Landlord Tenant does not terminate this LeaseLease under this Section 16, Landlord Tenant shall commence and proceed with reasonable diligence to repair and restore the Building Premises (including the Tenant Improvements) or Alterations made by, or installed by Tenant, in the Premises and the Leasehold payment of Fixed Rent will not xxxxx; provided, however, that if Tenant terminates this Lease, Tenant shall not be required to repair or restore the Premises (such repair and restoration obligations being Landlord’s obligation) and Tenant shall remove Tenant’s Improvements (excluding any or Alterations that were performed by Tenant as set forth in violation Section 27 of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Personal Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this ArticleSection, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease, which shall constitute an express agreement between the parties with respect thereto.

Appears in 1 contract

Samples: Lease Agreement (Good Works Acquisition Corp.)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 60 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Interliant Inc)

Casualty Damage. A. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building or the Project shall be damaged so that, in Landlord's reasonable judgment, substantial alteration or reconstruction of the Building or the Project shall be required (whether or not the Premises has been damaged); (2) Landlord is not permitted by Law to rebuild the Building or the Project in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building or the Project occurs. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall promptly commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Office Lease Agreement (Commtouch Software LTD)

Casualty Damage. A. 17.1 If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if: (1) the Building shall be damaged so that, in Landlord's ’s reasonable judgment, substantial alteration or reconstruction of the Building shall be required (whether or not the Premises has been damaged)) and Landlord estimates more than 180 days from the date of such casualty are required to complete such restoration; (2) Landlord is not permitted by Law to rebuild the Building in substantially the same form as existed before the fire or casualty; (3) the Premises have been materially damaged and there is less than 2 years 12 months of the Term remaining on the date of the casualty; (4) any Mortgagee requires that the insurance proceeds be applied to the payment of the mortgage debt; or (5) a material uninsured loss to the Building occurs, provided that Landlord has carried the insurance required to be carried under this Lease. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 90 60 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Tenant Improvements (excluding any Alterations that were performed by Tenant in violation of this Lease). However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's ’s Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this ArticleSection, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.

Appears in 1 contract

Samples: Summit Office Lease (Avanir Pharmaceuticals, Inc.)

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