Common use of DAMAGE BY FIRE OR CASUALTY Clause in Contracts

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date.

Appears in 2 contracts

Samples: Sublease Agreement (Biofrontera AG), Sublease Agreement (Biofrontera AG)

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DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord)such damage. All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s 's expense to the extent that the cost of such repairs does not exceed are less than the deductible amount in Landlord’s 's insurance policy. All repairs to and replacements of Tenant Improvement Work and any property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent additional charges for Operating Expenses and Taxes or a just and proportionate part parts thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty, provided, however, that if Landlord or any mortgagee of the Building shall be unable to collect the insurance proceeds (including rent insurance proceeds) applicable to such damage solely because of some action or inaction (of which Tenant has reasonable notice and reasonable opportunity to comply) in the course of Landlord's insurance collection on the part of Tenant or an agent or employee of Tenant, the cost of repairing such damage shall be paid by Tenant and there shall be no abatement of rent. Tenant shall cooperate in the insurance collection process and sign and certify all reasonable documents necessary in the collection thereof within five (5) business days after receipt of written request from Landlord. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeuregovernment regulation, casualties and strikes, unavailability of labor and materials, delays in obtaining insurance proceeds, and other causes beyond the reasonable control of Landlord, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) 30 and sixty (60) 60 days after any casualty, Tenant may inquire of Landlord as to Landlord’s 's estimate of the time period necessary to complete repair of the Premises. Within thirty (30) 30 days after such inquiry, Landlord shall provide Tenant with Landlord’s 's architect’s 's good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) 180 days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) 30 days after Tenant’s delivery 's receipt of Landlord’s 's architect’s 's estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeurecauses beyond the reasonable control of Landlord, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) 180 days from the occurrence of such damage, or (ii) the date given in any Landlord’s 's architect’s 's repair period estimate under the prior paragraph (the later of such dates is referred to below as the "Outside Restoration Date"), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused beyond the reasonable control of Landlord as described in the next sentence. Delays beyond Landlord's reasonable control shall mean delays in the making of repairs which are due to government regulation, casualties and strikes, unavailability of labor and materials, delays in obtaining insurance proceeds despite the exercise of all reasonable efforts by Force MajeureLandlord, and other causes beyond the reasonable control of Landlord. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, ; however if the delays continue more than ninety (90) 90 days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date.

Appears in 2 contracts

Samples: Storagenetworks Inc, Storagenetworks Inc

DAMAGE BY FIRE OR CASUALTY. If In the event of damage to or destruction of the Demised Premises or any part thereof shall be damaged by fire or any other insured casualty, thenif the Demised Premises are not made untenantable, subject this Lease shall not be terminated, but the Demised Premises shall be promptly and fully repaired and restored, as the case may be, by Landlord at its own cost and expense unless such damage or destruction is due to or the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee result of the Building) to repair acts or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant, its employees, agents or contractors. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereofDue allowance, according to the nature and extent to which the Premises shall have been so rendered unfithowever, shall be abated until given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from Government restrictions, and controls on construction, if any, and for strikes, emergencies, and other conditions beyond the Premises (except control of Landlord. It is agreed that in any of the aforesaid events, this Lease shall continue in full force and effect, but if the condition is such so as to make the property which entire Demised Premises untenantable, then unless such damage or destruction is due to be repaired by or at the expense result of the acts or negligence of Tenant) , its employees, agents or contractors, the rental that Tenant is obligated to pay hereunder shall have been restored xxxxx as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualtycasualty until the Demised Premises has been restored by Landlord in a manner suitable for Tenant’s occupancy. Any unpaid or prepaid rent for the month in which said condition occurs shall be prorated. If the Demised Premises are partially damaged or destroyed, then during the period that Tenant may terminate is deprived of the use of the damaged portion of said Demised Premises, Tenant shall be required to pay rental covering only that part of the Demised Premises that it is able to occupy, based on that portion of the total rent that the amount of square foot area remaining that can be occupied bears to the total square foot area of all the Demised Premises covered by this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimateLease. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days during the Term of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date Demised Premises shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty so as to be untenantable, then unless Landlord commences and diligently pursues repairs within NINETY (whether or not insured90) days thereafter, either party hereto, upon written notice to the other party given at any time during following the last thirty expiration on NINETY (3090) months days after said fire or casualty, may terminate this Lease, in which case the rent shall be apportioned and paid to the date of said fire or casualty (unless such damage or destruction is due to or the result of the Term acts or negligence of Tenant, its employees, agents or contractors, in which event Tenant shall not have the option to terminate the Lease). In the event that the cost Landlord elects to repair such damage is reasonably estimated and/or restore the damaged Demised Premises, said repairs and restoration shall be pursued diligently by Landlord. No compensation, claim, or diminution of rent will be allowed or paid, by Landlord, by reason of inconvenience, annoyance, or injury to exceed one-third of the total Annual Fixed Rent payable hereunder for the period business arising from the estimated completion date necessity of repair until repairing the end of the Term, (ii) at any time the Building (Demised Premises or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of Building, however the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof necessity may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such dateoccur.

Appears in 2 contracts

Samples: Lease (Global Defense Technology & Systems, Inc.), Lease (Global Defense Technology & Systems, Inc.)

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be the Common Areas of the Shopping Center are destroyed or damaged by fire any cause and such destruction or other insured casualtydamage can reasonably be repaired within two hundred ten (210) days after the happening of such destruction or damage, thenthen Tenant shall not be entitled to surrender possession of the Premises, subject nor shall Tenant's liability to pay Rent under this Lease cease, but in the last paragraph event of this Section 6.1, such destruction or damage Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord complete such repairs within two hundred ten (but only to the extent 210) days after receipt of insurance proceeds made available to Landlord by any mortgagee on account of the Building) occurrence of such destruction or damage. If Tenant is deprived of the occupancy of any portion of the Premises due to repair any such destruction or cause to be repaired all damage the Rent shall proportionately abate correspoxxxxx to the time during which, and to the area of the Premises (except for damage to leasehold improvements installed by Tenant without notice to andof which, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant shall be made deprived due to such destruction or damage or the making of such repairs. No Rent shall be payable during any period that Tenant is unable to occupy the Premises and engage in its regular business at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of TenantPremises. If Landlord fails to complete repairs within the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason two hundred ten (210) days after receipt of such damage insurance proceeds but in no event more than three hundred (300) days from the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to occurrence of the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then Tenant at its election may terminate this Lease by and quit the Premises upon written notice given to Landlord given prior to the completion of the restoration. If the destruction or damage of the Premises or the Common Areas of the Shopping Center cannot reasonably be repaired within two hundred ten (210) days after the occurrence of the fire or other casualty, Landlord shall notify Tenant within thirty (30) days after Tenant’s delivery the happening of Landlord’s architect’s estimatesuch destruction or damage whether or not Landlord will repair or rebuild. If Landlord fails elects not to commence repair or rebuild, this Lease shall be terminated. If Landlord elects to repair or rebuild, Landlord shall specify the time within which repairs as soon as is reasonably practicable after such damageor construction will be completed, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs Tenant shall have the option within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which receipt of such termination notice to elect either to terminate this Lease and further liability hereunder, or to extend the term hereof by a period of time equivalent to the period from the happening of such destruction or damage until the Premises are restored to their former condition. In the event Tenant elects to extend the term of this Lease, Landlord shall restore the Premises to their former condition within the time specified in the notice and Tenant shall be entitled to an abatement of Rent and other charges in the manner hereinabove set forth. If Landlord fails to complete restoration of the Premises within the specified time, then Tenant at its election may terminate this Lease and quit the Premises upon written notice to Landlord given prior to the completion of the restoration. If the Premises or the Common Areas of the Shopping Center are destroyed or damaged by any cause during the final two (2) Lease Years of the Lease Term to the extent that such damage cannot reasonably be repaired, or is received not repaired by Landlord. The Outside Restoration Date shall be extended for up to , within ninety (90) days on account after the happening of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the such damage, however if Tenant shall have the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect right to terminate this Lease effective as of the date of such damage by delivering written notice of the same to Landlord. Notwithstanding anything to the contrary herein, Tenant shall not be required to restore its trade fixtures and/or personal property in the manner provided abovePremises during the final Lease Year of the Lease Term if the costs of 18 restoration exceed $50,000. If (i) the Premises are so damaged by fire this Lease is terminated for any reason pursuant to this Article, Landlord shall promptly refund to Tenant any Rent or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall unearned charges paid in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such dateadvance.

Appears in 1 contract

Samples: Assignment and Assumption of Lease (AEI Income & Growth Fund 27 LLC)

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph two paragraphs of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the BuildingHolder) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by such damage, including such Tenant without notice to and, if required by this Lease, approval by Landlord)Work as shall have been so damaged. All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed are less than the deductible amount in Landlord’s insurance policy. All repairs to Tenant Work shall be performed by Landlord at Tenant’s expense. The cost of all repairs performed under this Section 6.1 by Landlord at Tenant’s expense (including costs of design fees, financing, and charges for administration, overhead and construction management services by Landlord and Landlord’s contractor) shall constitute an additional charge hereunder. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty, provided, however, that if Landlord or any Holder shall be unable to collect the insurance proceeds (including rent insurance proceeds) applicable to such damage because of some action or inaction on the part of Tenant, or the employees, licensees or invitees of Tenant, the cost of repairing such damage shall be paid by Tenant and there shall be no abatement of rent. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeuregovernment regulation, casualties and strikes, unavailability of labor and materials, delays in obtaining insurance proceeds, and other causes beyond the reasonable control of Landlord, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date.

Appears in 1 contract

Samples: Office Lease (Fusion Pharmaceuticals Inc.)

DAMAGE BY FIRE OR CASUALTY. If During the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph term of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by LandlordLandlord agrees to carry standard form "All Risk" property insurance (or the insurance industry equivalent). All such repairs made necessary by , including loss of rents insurance, on the negligence or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If Property wherein the Premises or any part thereof shall have been rendered unfit are situated and all improvements therein for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises one hundred percent (except as to the property which is to be repaired by or at the expense of Tenant100%) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord full replacement thereof and shall provide Tenant with Landlord’s architect’s good faith estimate a certificate of insurance reflecting such coverage. Tenant shall reimburse Landlord for the time to complete premium for such repairs and if insurance. Landlord shall make demand for reimbursement from Tenant for such estimate (insurance premium costs which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then paid by Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimateits receipt thereof. Each such demand for reimbursement shall be accompanied by a copy of the insurance premium invoice for which reimbursement is requested. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, the Premises or a portion thereof shall be destroyed or injured by any cause insurable by standard policies of "All Risk" insurance or its equivalent and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs destruction or injury could reasonably be repaired within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. thereafter, Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than with diligence undertake and substantially complete repairs within ninety (90) days beyond after the initial Outside Restoration Datehappening of such destruction or injury. If Tenant shall be deprived of the occupancy of any portion of the Premises due to any destruction or injury but can nevertheless continue to engage in its regular business, a rental abatement shall be allowed in proportion to the area rendered untenantable and continuing until the Premises are restored. No rent shall be payable during any period that Tenant may is unable to engage in its regular business. If the destruction or injury cannot reasonably be repaired within ninety (90) days after the happening thereof, Landlord shall notify Tenant within twenty-one (21) days after the happening of such destruction or injury whether or not Landlord will repair or rebuild. If Landlord elects not to repair or rebuild, this Lease shall be terminated. If Landlord shall elect to repair or rebuild, Landlord shall specify the time within which repairs or reconstruction will be completed and Tenant shall have the option within twenty-one (21) days after the receipt of such notice to elect either to terminate this Lease in and further liability thereunder or to extend the manner provided above. If (i) the Premises are so damaged term or renewal term of this Lease by fire or other casualty (whether or not insured) at any a period of time during the last thirty (30) months of the Term that the cost equivalent to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date happening of repair such destruction or injury until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage Premises are restored to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenanttheir former condition. In the event Tenant elects to extend the term of any terminationthe Lease, Landlord shall restore the Term Premises to their former condition within the time specified in the notice and Tenant shall expire as though such effective termination date were be entitled to an abatement of rent in the manner hereinbefore set forth. Tenant shall remove the debris and repair and replace the property which may be removed by it upon surrender of the Premises. Landlord shall remove the debris and repair and replace the building and the interior of the Premises. If this Lease is terminated by reason of damage or destruction, Landlord shall refund all prepaid rentals and unearned charges, pro rated to the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such datetermination.

Appears in 1 contract

Samples: Towne Bancorp Inc /Oh

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee the insurer or a mortgagee, if any, of the Building, so long as Landlord shall maintain that insurance required pursuant to Section 4.3.1 and Section 4.3.2) to repair or cause to be repaired all damage to the portion of the Premises (except for damage which is not to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant shall be made at the considered Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policyProperty. All repairs to and replacements of property which Tenant is entitled to remove Tenant’s Property shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage, except if such damage arose due to any gross negligence or willful misconduct of Tenant or any sublessee or any of their employees, agents, managers, officers, directors, members, trustees, independent contractors or invitees or any person acting under Tenant or any sublessee, the Annual Fixed Rent and Additional Rent for Landlord’s Taxes and Landlord’s Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and Within sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, provided the Premises are not damaged due to any gross negligence or willful misconduct of Tenant or any sublessee or any of their employees, agents, managers, officers, directors, members, trustees, independent contractors or invitees or any person acting under Tenant or any sublessee, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery receipt of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety sixty (9060) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety sixty (9060) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. Notwithstanding the foregoing, if the Premises and/or the Building are damaged due to any gross negligence or willful misconduct of Tenant or any sublessee or any of their employees, agents, managers, officers, directors, members, trustees, independent contractors or invitees or any person acting under Tenant or any sublessee, then Tenant shall have no rights to terminate the Lease under this paragraph. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty eighteen (3018) months of the Term that and the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a material portion thereof) shall in Landlord’s judgment be required; provided, however, in order to exercise such right Landlord shall be obligated to terminate all similarly-situated tenants, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Landlord’s Operating Expenses and Landlord’s Taxes shall be apportioned as of such date.

Appears in 1 contract

Samples: Pegasystems Inc

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the BuildingBuilding and any ground lessor) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by such damage, including such Tenant without notice to and, if required by this Lease, approval by Landlord)Work as shall have been so damaged. All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed are less than the deductible amount in Landlord’s insurance policy. All repairs to Tenant Work shall be performed by Landlord at Tenant’s expense. The cost of all repairs performed under this Section 6.1 by Landlord at Tenant’s expense (including costs of design fees, financing, and reasonable charges for administration, overhead and construction management services by Landlord and Landlord’s contractor) shall constitute an additional charge hereunder. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage damage, the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty, provided, however, that if Landlord or any mortgagee of the Building or any ground lessor shall be unable to collect the insurance proceeds (including rent insurance proceeds) applicable to such damage because of some action or inaction on the part of Tenant, or the employees, licensees or invitees of Tenant, the cost of repairing such damage shall be paid by Tenant and there shall be no abatement of rent. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeuregovernment regulation, casualties and strikes, unavailability of labor and materials, delays in obtaining insurance proceeds, and other causes beyond the reasonable control of Landlord, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building Project (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building Project (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building Project occurs by fire or other insured casualty and any mortgagee or ground lessor shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee or ground lessor regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to received by Tenant. In the event of any termination, the Term term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent additional charges for Operating Expenses and Taxes shall be apportioned as of such date. If any portion (other than a portion which, if not repaired, would not unreasonably affect Tenant’s use of the Premises for the Permitted Uses) of the Premises or Phase 2 is damaged by fire or other casualty. Landlord shall give notice to Tenant within sixty (60) days after such fire or casualty of Landlord’s estimate of the time required to substantially complete (subject only to punchlist items, the completion of which does not unreasonably interfere with Tenant’s use of the Premises) repair of such damage. If in Landlord’s estimate the Premises cannot so be repaired within twelve months after the date of such fire or casualty (subject only to punchlist items, as described above), then Tenant may elect in writing sixty (60) days following the date of such notice from Landlord to terminate this Lease effective on the thirtieth (30th) day after Tenant’s notice is given. If any portion (other than a portion which, if not repaired, would not unreasonably affect Tenant’s use of the Premises for the Permitted Uses) of the Premises or Phase 2 is damaged by fire or other casualty and Landlord has not within twelve months after such casualty substantially completed (subject only to punchlist items, the completion of which does not unreasonably interfere with Tenant’s use of the Premises) repair of such damage, then within ten (10) days after such twelve-month period has expired, Tenant may terminate this Lease by notice to Landlord effective on the 30th day after such notice is given, provided that such termination notice shall be effective only if repair of the damage in question has not been substantially completed before the date of termination. If Tenant fails timely to exercise its right to terminate under this Section 6.1, Tenant shall not have any further such right.

Appears in 1 contract

Samples: Lease (Thomas Weisel Partners Group, Inc.)

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence any negligent act, negligent omission or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy, which Landlord represents and warrants is, as of the date hereof, $5,000 (provided that such deductible may change from time to time in Landlord’s sole discretion). All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiryany casualty, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty twelve (18012) days months from the date of the casualty, then Tenant may terminate this Lease and the 610 Lease by notice given to Landlord and landlord under the 610 Lease within thirty (30) days after Tenant’s delivery receipt of Landlord’s architect’s estimate. If Landlord fails to provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs within thirty (30) days after any casualty, Tenant may provide Landlord with a written notice requesting such good faith estimate. If Landlord fails to provide such good faith estimate within thirty (30) days following Tenant’s written request described in the previous sentence, Tenant shall have the right to terminate this Lease and the 610 Lease upon written notice given to Landlord and landlord under the 610 Lease. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty ninety (6090) days of the casualty, Tenant may elect to terminate this Lease and the 610 Lease by notice to LandlordLandlord and the landlord under the 610 Lease. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease and the 610 Lease by notice to Landlord and the landlord under the 610 Lease within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety sixty (9060) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety sixty (9060) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty eighteen (3018) months of the Term that and the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) at any time during the last thirty-six (36) months of the Term (which shall include any extension options that Tenant has exercised or that Tenant exercises following such damage or casualty, it being agreed that if there are any remaining extension options under this Lease, Tenant may exercise the same within sixty (60) days of any such casualty in which case there shall be more than thirty-six (36) months remaining in the Term and Landlord may not exercise such termination rights set forth in this subsection (ii)) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date. In the event that the 610 Lease is terminated on account of a casualty event, then this Lease shall be so terminated as of the effective date of the termination of the 610 Lease.

Appears in 1 contract

Samples: Office Lease (Altus Pharmaceuticals Inc.)

DAMAGE BY FIRE OR CASUALTY. If In the Premises event of damage to or destruction of the demised premises by fire or any part thereof other casualty, if the demised premises are not made untenantable this Lease shall not be terminated, but the demised premises shall, subject to the provisions of this Section, be promptly and fully repaired and restored as the case may be by Landlord at its own cost and expense. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays beyond Landlord's control. If during the term of this Lease the demised premises shall be so damaged by fire or other insured casualty, then, subject casualty as to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authoritybe untenantable, and at if Landlord reasonably determines that the expense of Landlord demised premises cannot be repaired within two hundred seventy (but only to 270) days after the extent of insurance proceeds made available to Landlord by any mortgagee date of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide so certify to Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualtyeither party hereto, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by upon written notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date other party given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on of Landlord's certification, may terminate this Lease, in which such termination notice is received case the rent shall be apportioned and paid to the date of said fire or other casualty. In the event the Landlord elects to repair and/or restore the damaged demised premises, said repairs and restoration shall be pursued diligently by the Landlord. The Outside Restoration Date shall No compensation, claim, or diminution of rent will be extended for up to ninety (90) days on account allowed or paid by Landlord by reason of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant inconvenience, annoyance, or injury to business arising from the business necessity of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire demised premises or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of Building, however the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof necessity may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such dateoccur.

Appears in 1 contract

Samples: Office Lease (Radio One Inc)

DAMAGE BY FIRE OR CASUALTY. If In the event of damage or destruction of the Project or Premises or any part thereof shall be damaged by fire or any other insured casualty, thenthis Lease shall not be terminated, subject to but the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair Project or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary may be promptly and fully repaired and restored as the case may be by the negligence or willful misconduct of Tenant shall be made Landlord at the Tenant’s expense to the extent its own cost and expense, provided however that the cost of such repairs does not exceed and restoration shall be limited to the deductible amount of insurance proceeds received by the Landlord for such damage or destruction. Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the control of the Landlord. It is agreed that in Landlord’s insurance policy. All repairs any of the aforesaid events, this Lease shall continue in full force and effect, but if the condition is such so as to and replacements of property make the entire Premises untenantable, then the Rent which the Tenant is entitled obligated to remove pay hereunder shall xxxxx as of the date of the occurrence until the Premises have been fully and completely restored by the Landlord. Any unpaid or prepaid Rent for the month in which said condition occurs shall be made by and at the expense of Tenantpro-rated. If the Premises are partially damaged or any destroyed, then during the period that Tenant is deprived of the use of the damaged portion of said Premises, Tenant shall be required to pay Rent covering only that part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Premises that it is able to occupy, based on that portion of the total Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according which the amount of square foot area remaining that can be occupied bears to the nature and extent to which total square foot area of all the Premises covered by this Lease. In the event the Premises are substantially or totally destroyed by fire or other casualty so as to be entirely untenantable and it shall have been so rendered unfitrequire more than one hundred twenty (120) days for the Landlord to complete restoration of same, then either party hereto, upon ten (10) days written notice to the other party may terminate this Lease, in which case the Rent shall be abated until the Premises (except as apportioned and paid to the property which is to be repaired by or at the expense date of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such said fire or other casualty. Landlord shall not No compensation or claim or diminution of Rent will be liable for delays in allowed or paid, by Landlord, except to the making extent of any such repairs insurance proceeds which are due to Force Majeuremay be paid, nor shall Landlord be liable for any inconvenience or annoyance to Tenant by reason of inconvenience, annoyance, or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualtybusiness, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days arising from the date necessity of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if Premises or the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition building of which they are a part, however the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof necessity may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such dateoccur.

Appears in 1 contract

Samples: Agreement (Neomedia Technologies Inc)

DAMAGE BY FIRE OR CASUALTY. If the Premises shall be partially damaged by fire or other casualty insured under Tenant's insurance policies, and if Tenant's lender(s) shall permit insurance proceeds paid as a result thereof to be so used, then upon receipt of the insurance proceeds, Tenant may, except as otherwise provided herein, promptly repair and restore those portions of the Premises necessary for the reasonable operation of Tenant's business and the beneficial use and enjoyment of the Premises by Tenant (or those portions of the improvements constructed by Tenant upon the Premises) substantially to the condition thereof immediately prior to such damage or destruction; limited, however, to the extent of the insurance proceeds received by Tenant if by reason of such occurrence: (i) the Premises are rendered wholly untenantable; (ii) the Premises are damaged in whole or in part as a result of a risk which is not covered by Tenant's insurance policies; (iii) Tenant's lender does not permit a sufficient amount of the insurance proceeds to be used for restoration purposes; (iv) the Premises are damaged in whole or in part during the last three (3) years of the Term; (v) the buildings and other improvements located upon the Premises are damaged to an extent of fifty percent (50%) or more of the fair market value thereof, or (vi) Tenant, in its sole discretion, determines that the Premises are not suitable for Tenant's business, then Tenant may, in its sole discretion, elect either to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Landlord within sixty (60) days after the date of such occurrence, and thereupon this Lease shall terminate immediately. Tenant shall vacate and surrender the Premises to Landlord within sixty (60) days after receipt of such notice of termination. Upon the termination of this Lease as aforesaid, Tenant's liability for the Rent and other charges reserved hereunder shall cease immediately as of the effective date of the termination of this Lease, subject, however, to the provisions for abatement of Rent hereinafter set forth. Unless this Lease is terminated as aforesaid, this Lease shall remain in full force and effect, and Tenant shall promptly repair, restore, or replace Tenant's improvements, and trade fixtures located upon the Premises to substantially that condition existing prior to their damage or destruction. If, by reason of such fire or other casualty, the Premises is rendered wholly untenantable, then the Rent payable by Tenant shall be fully abated, or if only partially damaged, such Rent and other charges shall be abated proportionately as to that portion of the Premises rendered untenantable, in either event (unless the Lease is terminated, as aforesaid) from the date of such casualty until the premises have been substantially repaired and restored to a tenantable condition, or until Tenant's business operations are restored in the entire Premises, whichever shall first occur. Tenant shall continue the operation of Tenant's business in the Premises or any part thereof shall be not so damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of during any governmental authority, and at the expense of Landlord (but only such period to the extent of insurance proceeds made available to Landlord by any mortgagee of reasonably practicable from the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense standpoint of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the 's business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such datemanagement.

Appears in 1 contract

Samples: Ground Lease (Ap Eagle Finance Corp)

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other casualty required to be insured casualtyby Landlord under this Lease, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord)such damage. All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policypolicy (such deductible not to exceed the deductible amount generally carried at the time by comparable buildings). All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days year from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty ninety (6090) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days year from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, or (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or required (iii) at any time “substantial” damage meaning damage to the extent that the cost of repair will exceed 50% of the value of the Building occurs by prior to the occurrence of the fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damagecasualty), then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; provided, however, that in the event Landlord elects to terminate the Lease pursuant to clause (i) above, such election shall be null and void if, within thirty (30) days after receipt of Landlord’s notification, Tenant exercises the right (if available) to extend the Term for an Extension Term, in which case the time periods under this Section 6.1 for Landlord to commence and complete repairs shall be continued by thirty (30) days. The effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date.

Appears in 1 contract

Samples: Edgewater Office (Alliance Data Systems Corp)

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord)such damage. All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed are less than the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Tenant hereby covenants and agrees to cooperate fully with adjustment, collection, and recovery of insurance proceeds, which obligation shall survive termination of this Lease, and further provided that Tenant shall indemnify the Indemnified Parties from any and all loss, cost, damage or expense arising from Tenant’s action or inaction in connection with Tenant’s failure to cooperate with such adjustment, collection, and recovery of insurance proceeds, and if Tenant fails to cooperate with such adjustment, collection, and recovery of insurance proceeds, there shall be no abatement of rent. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeuregovernment regulation, casualties and strikes, unavailability of labor and materials, delays in obtaining insurance proceeds despite the exercise of all reasonable efforts by Landlord, and other causes beyond the reasonable control of Landlord, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) Within 30 days after any the occurrence of a casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) 180 days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) 30 days after Tenant’s delivery receipt of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeurecauses beyond the control of Landlord, and in any event if Landlord does not commence repairs within sixty (60) days of after the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) 180 days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of after the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused beyond the reasonable control of Landlord as described in the next sentence. Delays beyond Landlord’s reasonable control shall mean delays in the making of repairs which are due to government regulation, casualties and strikes, unavailability of labor and materials, delays in obtaining insurance proceeds despite the exercise of all reasonable efforts by Force MajeureLandlord, and other causes beyond the reasonable control of Landlord. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) 90 days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situationsituation not to exceed one hundred twenty (120) days, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to received by Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent additional charges for Operating Expenses and Taxes shall be apportioned as of such date.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (BG Medicine, Inc.)

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.111.1, Landlord shall proceed with continuous diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) Landlord, to repair or cause to be repaired all damage such damage. Landlord agrees to insure the Building against fire and other casualty normally covered by a casualty loss policy in an amount equal to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord)full replacement cost of the Building. All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s 's expense to the extent that the cost of such repairs does are not exceed paid for by Landlord's insurer or to the extent the cost of such repairs are less than the deductible amount in Landlord’s 's insurance policy. Landlord agrees to maintain a reasonable deductible consistent with standards normally maintained for a building of the value and type of the Building. In the event Tenant requests Landlord to obtain a lower deductible than it is otherwise obtaining, the Tenant shall promptly pay to Landlord the additional premium charge due as a result of the reduction of the deductible. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of TenantTenant unless such property is covered by Landlord's insurance. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage damage, the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been made tenantable and have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. , provided, however, that if Landlord or any mortgagee of the Premises shall not be liable for delays in unable to collect the making insurance proceeds (including rent insurance proceeds) applicable to such damage solely because of any such repairs which are due to Force Majeuresome action or inaction on the part of Tenant, nor shall Landlord be liable for any inconvenience or annoyance to Tenant the employees, licensees or injury to invitees of Tenant, the business cost of Tenant resulting from delays in repairing such damagedamage shall be paid by Tenant and there shall be no abatement of rent. If such damage is not of a substantial nature and does not render the Premises unfit for use and occupation by Tenant, then Landlord agrees to commence repair work within 15 days after the date of the casualty and diligently to pursue such repair work until completion. Between thirty (30) 30 and sixty (60) 60 days after any casualty, Tenant may inquire of Landlord as to Landlord’s 's estimate of the time period necessary to complete repair of the Premises. Within thirty (30) 30 days after such inquiry, Landlord shall provide Tenant with Landlord’s 's architect’s 's good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days year from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) 30 days after Tenant’s delivery 's receipt of Landlord’s 's architect’s 's estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date.

Appears in 1 contract

Samples: Genzyme Corp

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other casualty required to be insured casualtyby Landlord under this Lease, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord)such damage. All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s 's expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s 's insurance policypolicy (such deductible not to exceed the deductible amount generally carried at the time by comparable buildings). All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s 's estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s 's architect’s 's good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days year from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s 's delivery of Landlord’s 's architect’s 's estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty ninety (6090) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days year from the occurrence of such damage, or (ii) the date given in any Landlord’s 's architect’s 's repair period estimate under the prior paragraph (the later of such dates is referred to below as the "Outside Restoration Date"), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, or (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s 's judgment be required, or required (iii) at any time "substantial" damage meaning damage to the extent that the cost of repair will exceed of the value of the Building occurs by prior to the occurrence of the fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damagecasualty), then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; provided, however, that in the event Landlord elects to terminate the Lease pursuant to clause (i) above, such election shall be null and void if within thirty (30) days after receipt of Landlord's notification, Tenant exercises the right (if available) to extend the Term for an Extension Term, in which case the time periods under this Section 6.1 for Landlord to commence and complete repairs shall be continued by thirty (30) days. The effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date.

Appears in 1 contract

Samples: Edgewater Office (Alliance Data Systems Corp)

DAMAGE BY FIRE OR CASUALTY. If During the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph term of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by LandlordLandlord agrees to carry standard form "All Risk" property insurance (or the insurance industry equivalent). All such repairs made necessary by , including loss of rents insurance, on the negligence or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If Property wherein the Premises or any part thereof shall have been rendered unfit are situated and all improvements therein for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises one hundred percent (except as to the property which is to be repaired by or at the expense of Tenant100%) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord full replacement thereof and shall provide Tenant with Landlord’s architect’s good faith estimate a certificate of insurance reflecting such coverage. Tenant shall reimburse Landlord for the time to complete premium for such repairs and if insurance. Landlord shall make demand for reimbursement from Tenant for such estimate (insurance premium costs which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then paid by Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimateits receipt thereof. Each such demand for reimbursement shall be accompanied by a copy of the insurance premium invoice for which reimbursement is requested. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, the Premises or a portion thereof shall be destroyed or injured by any cause insurable by standard policies of 'All Risk" insurance or its equivalent and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs destruction or injury could reasonably be repaired within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. thereafter, Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than with diligence undertake and substantially complete repairs within ninety (90) days beyond after the initial Outside Restoration Datehappening of such destruction or injury. If Tenant shall be deprived of the occupancy of any portion of the Premises due to any destruction or injury but can nevertheless continue to engage in its regular business, a rental abatement shall be allowed in proportion to the area rendered untenantable and continuing until the Premises are restored. No rent shall be payable during any period that Tenant may is unable to engage in its regular business. If the destruction or injury cannot reasonably be repaired within ninety (90) days after the happening thereof, Landlord shall notify Tenant within twenty-one (21) days after the happening of such destruction or injury whether or not Landlord will repair or rebuild. If Landlord elects not to repair or rebuild, this Lease shall be terminated. If Landlord shall elect to repair or rebuild, Landlord shall specify the time within which repairs or reconstruction will be completed and Tenant shall have the option within twenty-one (21) days after the receipt of such notice to elect either to terminate this Lease in and further liability thereunder or to extend the manner provided above. If (i) the Premises are so damaged term or renewal term of this Lease by fire or other casualty (whether or not insured) at any a period of time during the last thirty (30) months of the Term that the cost equivalent to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date happening of repair such destruction or injury until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage Premises are restored to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenanttheir former condition. In the event Tenant elects to extend the term of any terminationthe Lease, Landlord shall restore the Term Premises to their former condition within the time specified in the notice and Tenant shall expire as though such effective termination date were be entitled to an abatement of rent in the manner hereinbefore set forth. Tenant shall remove the debris and repair and replace the property which may be removed by it upon surrender of the Premises. Landlord shall remove the debris and repair and replace the building and the interior of the Premises. If this Lease is terminated by reason of damage or destruction, Landlord shall refund all prepaid rentals and unearned charges, pro rated to the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such datetermination.

Appears in 1 contract

Samples: Towne Bancorp Inc /Oh

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building, if any) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one two hundred eighty ten (180210) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimateestimate (if such casualty occurs during the last twelve (12) months of the Term, the 210-day period referenced above shall be deemed to refer to one-half of the portion of the Term remaining as of the date of such casualty). If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of after the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one two hundred eighty ten (180210) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of after the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up EAST\66392481.7 to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s reasonable judgment be requiredrequired and Landlord terminates the leases of all similarly situated tenants, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date.

Appears in 1 contract

Samples: IntraLinks Holdings, Inc.

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Buildingbuilding) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements such damage, provided, however, in respect of such alterations, additions and improvements, originally made or installed by Tenant without notice at Tenant's expense, as shall have been damaged by such fire or other casualty and which are insured by insurance policies required to andbe maintained hereunder, if required by this Leasethat the repairs to such Tenant's alterations, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant additions and improvements shall be made performed by Landlord but at the Tenant’s Xxxxxx's expense to the extent that the cost of such repairs does alterations, additions and improvements were not exceed the deductible amount in required under this Lease to be insured by policies maintained by Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove Tenant's Removable Property shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage damage, the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualtyprovided, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiryhowever, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event that if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition mortgagee of the Building shall be unable to collect the insurance proceeds (including rent insurance proceeds) applicable to such damage because of any act or a portion thereof) shall negligence on the part of Tenant or the employees, licensees or invitees of Tenant, resulting in Landlord’s judgment some violation of applicable law, the terms of any insurance policy required to be requiredretained hereunder, or (iii) at the terms of this Lease, or because of any time damage act or negligence on the part of Tenant or the employees, licensees or invitees of Tenant, resulting in a failure to cooperate with Landlord or any mortgagee of the Building occurs by fire or other insured casualty and any mortgagee shall refuse in connection with Xxxxxxxx's efforts to permit make its insurance proceeds to be utilized for claim, the repair or replacement cost of repairing such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice damage shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term paid by Xxxxxx and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes there shall be apportioned as of such date.no abatement

Appears in 1 contract

Samples: Lease (Cascade Communications Corp)

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DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.15.1, Landlord shall proceed with reasonable diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) Landlord, to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord)such damage. All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed are less than the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of TenantTenant unless such property is covered by Landlord’s insurance. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage s uch damage, the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been made tenantable and have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. , provided, however, that if Landlord or any mortgagee of the Premises shall not be liable for delays in unable to collect the making insurance proceeds (including rent insurance proceeds) applicable to such damage solely because of any such repairs which are due to Force Majeuresome action or inaction on the part of Tenant, nor shall Landlord be liable for any inconvenience or annoyance to Tenant the employees, licensees or injury to invitees of Tenant, the business cost of Tenant resulting from delays in repairing such damagedamage shall be paid by Tenant and there shall be no abatement of rent. Between thirty (30) 30 and sixty (60) 60 days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) 30 days after such inquiryinquiry but by no later than 60 days after the date of such casualty, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) 180 days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) 30 days after Tenant’s delivery receipt of Landlord’s architect’s estimate. If Landlord fails falls to commence repairs as soon as is reasonably practicable within sixty (60) days after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days causes beyond the control of the casualtyLandlord, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) within 180 days from the occurrence of such damage, damage or (ii) by the date given in any Landlord’s architect’s repair period estimate under the prior paragraph paragraph, if later than 180 days (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the effective termination date pursuant to such notice shall not be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for by up to ninety (90) an additional 90 days on account of for delays caused by Force Majeurecauses beyond the reasonable control of’ Landlord as described in the next sentence. Landlord shall not be liable for delays in the making of any such repairs which are due to government regulation, casualties and strikes, unavailability of labor and materials, delays in obtaining insurance proceeds, and other causes beyond the reasonable control of Landlord nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the such damage, however if the such delays continue more than ninety (90) 60 days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are Building is so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) twenty-four months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, or (ii) at any time during the last twenty-four months of the Term the Building (or any substantial portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a substantial portion thereof) shall in Landlord’s reasonable judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, days following such fire or other casualty; , the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to received by Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent additional charges for Operating Expenses and Taxes shall be apportioned as of such date.

Appears in 1 contract

Samples: Ikos Systems Inc

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be the Building are damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligenceforthwith repair the same, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All provided such repairs made necessary by the negligence or willful misconduct of Tenant shall can be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises forty-five (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (18045) days from the date of such damage under the casualtylaws and regulations of the federal, then Tenant may terminate state, county and municipal authorities having jurisdiction thereof. In such event, this Lease shall remain in full force and effect except that, if the damage is not the result of the negligence, passive or active, or willful misconduct of Tenant or its agents or invitees, Tenant shall be entitled to a proportionate reduction of rent while such repairs to be made hereunder by notice given Landlord are being made. Said Proportionate reduction shall be based upon the extent to which the making of such repairs to be made hereunder by Landlord shall interfere with the business carried on by Tenant in the Premises. Within fifteen (15) days from the date of such damage, Landlord shall notify Tenant whether or not such repairs can be made within forty- five (45) days from the date of such damage and Landlord's determination thereof shall be binding on Tenant. If such repairs cannot be made within forty-five (45) days from the date of such damage, Landlord shall have the option, exercisable at any time within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair date of such damage by the later either to (a) notify Tenant of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not 's intention to repair such damage, then and in any of such events, which event this Lease shall continue in full force and effect and the Term hereof may rent shall be terminated at the reduced as provided herein; or (b) notify Tenant of Landlord's election to terminate this Lease of Landlord by a notice from Landlord to Tenant within sixty (60) daysdate specified in such notice, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination which date pursuant to such notice shall be not less than thirty (30) nor more than ninety (90) days after the day on which such termination notice is delivered to Tenantin given. In the event that such notice to terminate is given by Landlord, this Lease shall terminate on the date specified in such notice. In case of such termination, if the damage giving rise to such termination is not the result of the negligence, passive or active, or willful misconduct of Tenant or its agents or invitees, the rent shall be reduced by a proportionate amount based upon the extent to which said damage interfered with the business carried on by Tenant in the Premises, and the Tenant shall pay such reduced rent up to the date of termination. Landlord shall refund to Tenant, if Tenant is not then in default, any rent previously paid for any period of time subsequent to such date of termination. The repairs to be made hereunder by Landlord shall not include, and Landlord shall not be required to repair, any damage by fire or other cause to the property of Tenant or any repairs or replacements of any terminationpaneling, decorations, railing, floor coverings, or any alterations, additions, fixtures or improvements installed on the Term shall expire as though such effective termination date were Premises by or at the date originally stipulated in Section 1.1 for the end expense of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such dateTenant.

Appears in 1 contract

Samples: Office Lease (National Research Corp)

DAMAGE BY FIRE OR CASUALTY. (a) If the Leased Premises or any part thereof shall be damaged by fire destroyed or other insured casualtydamaged, thenfrom whatsoever cause, subject so as to render them unfit for the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authoritypurposes for which leased, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) if it is reasonably possible to repair such destruction or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than within one hundred eighty (180) days from days, the date Tenant shall not be entitled to surrender possession of the casualtyLeased Premises, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery without the prior written consent of Landlord’s architect’s estimate. If , but Landlord fails shall proceed to commence repairs as soon as is reasonably practicable after such damage, repair the destruction or damage with all reasonable speed and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs shall complete the same within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from days, unless there shall be less than one year remaining in the occurrence term of such damagethis Lease, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant which event Landlord may elect to terminate this Lease the Lease. (b) If the Leased Premises shall be destroyed or damaged, from whatever cause, so as to render them unfit for the purposes for which leased, and if it is not reasonably possible to repair such destruction or damage within one hundred eighty (180) days, then each party shall have the option, by written notice given to Landlord the other within twenty fifteen (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (3015) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience destruction or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease as of eight (8) days after the giving of such notice, in which event Tenant shall be granted a proportionate rebate and deduction from the manner provided above. If (i) rental payments made and to be made hereunder for the Premises are so damaged by fire or other casualty (whether or period subsequent to said determination and, if such option is not insured) at any time during the last thirty (30) months of the Term that the cost exercised, Landlord shall proceed to repair such the destruction or damage is reasonably estimated with all reasonable speed. (c) In the event of any damage or destruction to exceed one-third of which the total Annual Fixed Rent payable hereunder above provisions are applicable, Tenant shall be granted a proportionate rebate and deduction from the rental payments made and to be made hereunder, for the period from the estimated completion date of repair such damage or destruction until the end Leased Premises are ready for occupancy by Tenant or until the termination of the TermLease, (ii) at any time corresponding to the Building (or any portion thereof, whether or not including any portion of the PremisesLeased Premises with respect to which Tenant is deprived of normal occupancy and use. (d) is so damaged by Tenant shall give immediate notice to Landlord in case of fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such datePremises.

Appears in 1 contract

Samples: Lease Modification Agreement (Federal Data Corp /Fa/)

DAMAGE BY FIRE OR CASUALTY. 17. During the term of this lease Lessor agrees to carry standard form “All Risk” property insurance on the building wherein the premises are situated for full replacement thereof and shall provide Lessee with a certificate of insurance reflecting such coverage, if requested. If the Premises premises or any part a portion thereof shall be damaged destroyed or injured by fire any cause and such destruction or other insured casualtyinjury could reasonably be repaired within 90 days thereafter, thenLessor shall with diligence undertake and substantially complete repairs within 90 days after the happening of such destruction or injury. If Lessee shall be deprived of the occupancy of any portion of the premises due to any destruction or injury but can nevertheless continue to engage in its regular business, subject a rental abatement shall by allowed in proporation to the last paragraph area rendered untenantable and continuing until premises are restored. No rent shall be payable during any period that Lessee is unable to engage in its regular business. If the destruction or injury cannot reasonably be repaired within 90 days after the happening thereof, Lessor shall notify Lessee within 30 days after the happening of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) such destruction or injury whether or not Lessor will repair or rebuild. If Lessor elects not to repair or cause rebuild, this lease shall be terminated. If Lessor shall elect to repair or rebuild, Lessor shall specify the time within which repairs or reconstruction will be repaired all damage to completed and Lessee shall have the Premises (except for damage to leasehold improvements installed by Tenant without option within 30 days after the receipt of such notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect either to terminate this Lease lease and further liability thereunder or to extend the term or renewal term of this lease by notice a period of time equivalent to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date happening of repair such destruction or injury until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage premises are restored to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenanttheir former condition. In the event of any termination, Lessee elects to extend the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end term of the Term lease, Lessor shall restore the premises to their former condition within the time specified in the notice and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes Lessee shall be apportioned as entitled to an abatement of such daterent in the manner hereinbefore described.

Appears in 1 contract

Samples: Lease (Mainstreet Bankshares Inc)

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building, if any) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one two hundred eighty ten (180210) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimateestimate (if such casualty occurs during the last twelve (12) months of the Term, the 210-day period referenced above shall be deemed to refer to one-half of the portion of the Term remaining as of the date of such casualty). If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence - 35 - EAST\66392481.7 repairs within sixty (60) days of after the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one two hundred eighty ten (180210) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of after the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s reasonable judgment be requiredrequired and Landlord terminates the leases of all similarly situated tenants, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date.

Appears in 1 contract

Samples: IntraLinks Holdings, Inc.

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be are damaged by fire or other insured casualty, then, subject Tenant will give prompt written notice thereof to Landlord. This Lease will automatically terminate if the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord Building is totally destroyed by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall If the Building is not totally destroyed but is damaged such that substantial alteration or reconstruction of the Building is, in Landlord's sole opinion, required (whether or not the Premises are damaged by such casualty), and if, due to such damage, any mortgagee of the Building requires that the insurance proceeds payable as a result of a casualty be liable for delays applied to the payment of the mortgage debt or in the making event of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury material uninsured loss to the business Building, Landlord may, at its option, terminate this Lease by notifying Tenant in writing of Tenant resulting from delays such termination. In addition, if a substantial portion of the Building is destroyed such that, in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiryreasonable determination, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) restore the Building will exceed 180 days from the date of the casualtyrestoration has started, then Tenant Landlord may terminate this Lease by written notice given to Landlord within thirty (30) days after Tenant’s delivery Tenant of Landlord’s architect’s estimatesame. If Landlord fails to commence repairs If, as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days a result of the casualty, Tenant may elect the Premises become untenantable and Landlord determines that the Premises cannot be reasonably made tenantable within 180 days from the date the rehabilitation is started, either party will have the right to terminate this Lease by giving to the other notice to Landlordof such election within 10 days after Landlord notifies Tenant in writing of same. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice is not terminated as provided above, then Landlord will endeavor to make applicable insurance proceeds available with respect to the Building and will commence and proceed with reasonable diligence to restore the Building and the Premises. However, Landlord within twenty (20) days will not be obligated to spend for such work an amount in excess of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is insurance proceeds actually received by LandlordLandlord as a result of the casualty (plus deductibles). The Outside Restoration Date shall Tenant will be extended responsible for up to ninety (90) days on account of delays caused by Force Majeurereplacing and restoring Tenant's fixtures and personal property. Landlord shall will not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from delays in repairing such damage or the damagerepair thereof, however except that, unless resulting from the fault or negligence of Tenant’s agents, employees, or invitees, if any such casualty renders the delays continue more than ninety (90) days beyond Premises or a material portion thereof untenantable such that Tenant cannot and does not occupy the initial Outside Restoration DatePremises or such portion for the conduct of its business, and if such period of untenantability continues for 5 consecutive business days, then beginning on the 6th business day of such untenantability and until the Premises or such portion are substantially restored or made tenantable, Landlord will allow Tenant may elect to terminate this Lease a fair diminution of rent in the manner provided aboveproportion of the area of the Premises rendered untenantable. If (i) the Premises are so or any portion of the Building is damaged by fire or other casualty (whether resulting from the fault or negligence of Tenant's agents, employees, or invitees, the Rent hereunder will not insured) at any time be diminished, offset, or abated during the last thirty (30) months repair of such damage and Tenant will be liable to Landlord for the cost of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition and restoration of the Building (or a portion thereof) shall in caused thereby, as well as any other cost and expense thereby incurred by Landlord’s judgment be required, or (iii) at any time damage to the Building occurs extent such cost and expense is not covered by fire or other insured casualty and any mortgagee shall refuse to permit Landlord's insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such dateproceeds.

Appears in 1 contract

Samples: Office Lease

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises and the Building (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s 's expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s 's insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s 's estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s 's architect’s 's good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s 's delivery of Landlord’s 's architect’s 's estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs to perform its restoration obligations within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s 's architect’s 's repair period estimate under the prior paragraph (the later of such dates is referred to below as the "Outside Restoration Date"), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety sixty (9060) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term (provided that, if at such time any extension option remains under Section 2.4.1, then Tenant may exercise such extension option at such time to extend the Term past such thirty (30) month period), that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s 's reasonable judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord (provided that at such time Landlord is in the process of terminating the leases of any tenants that are similarly situated with Tenant) by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date. If during the last twelve (12) months of the Term there is a fire or other casualty (whether or not insured) that (x) results in more than fifty percent (50)% of the Premises being untenantable and (y) will require, in Landlord's reasonable judgment, more than forty-five (45) days to repair, then Tenant shall have the right to terminate this Lease by written notice to Landlord given within thirty (30) days following the casualty. The termination shall be effective as of the date of Landlord's receipt of such written notice.

Appears in 1 contract

Samples: Office Lease (Mac-Gray Corp)

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then then, applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the BuildingLandlord) to repair or cause to be repaired all such damage. Landlord shall commence such repairs within three (3) months of such damage and proceed with diligence to the Premises complete such repairs, but if Landlord has not completed such repairs within twelve (except for 12) months of such damage to leasehold improvements installed Tenant may terminate this Lease by Tenant without notice to and, if required by this Lease, approval by Landlord)Landlord within ten (10) days of the expiration of such twelve month period. All such repairs made necessary by the negligence any act or willful misconduct omission of Tenant shall be made at the Tenant’s 's expense to the extent that the cost of such repairs does not exceed are less than the deductible amount in Landlord’s 's insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses additional rent or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty, provided, however, that if Landlord or any mortgagee shall be unable to collect the insurance proceeds (including rent insurance proceeds) applicable to such damage because of some action or inaction on the part of Tenant, or the employees, licensees or invitees of Tenant, the cost of repairing such damage shall be paid by Tenant and there shall be no abatement of rent. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeuregovernment regulation, casualties and strikes, unavailability of labor and materials, delays in obtaining insurance proceeds, and other causes beyond the reasonable control of Landlord, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date.

Appears in 1 contract

Samples: Sublease (Altarex Corp)

DAMAGE BY FIRE OR CASUALTY. If During the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph term of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord)BBI agrees to carry fire and extended coverage insurance on the Building wherein the premises are situated for full replacement thereof in the amount of $2,000,000 and shall provide Lessor with a certificate of insurance reflecting such coverage with a loss payable clause to said Lessor and BBI as their interests may appear. All such repairs made necessary by As a part of the negligence or willful misconduct insurance coverage, BBI shall carry rental loss insurance coverage in the amount to cover the rent for a minimum duration of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenanttwelve (12) months. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, demised premises shall be abated until the Premises (except as to the property which is to destroyed or damaged by any cause and such destruction or damage could reasonably be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than within one hundred eighty (180) days from after the date happening of such destruction or damage, then BBI shall not be entitled to surrender possession of the casualtydemised premises, then Tenant may terminate nor shall BBI’s liability to pay rent under this Lease by notice given to Landlord cease; but in the event of such destruction or damage, Lessor shall with due diligence substantially complete such repairs and restoration within one hundred eighty (180) days after the happening of such destruction or damage. If such destruction or damage cannot reasonably be repaired within one hundred eighty (180) days after the happening thereof, Lessor shall notify BBI within thirty (30) days after Tenant’s delivery the happening of Landlord’s architect’s estimatesuch destruction or damage whether or not the Lessor will repair or rebuild. If Landlord fails Lessor elects not to commence repair or rebuild, this Lease shall terminate effective as of the date of destruction or damage. If Lessor shall elect to repair or rebuild, Lessor shall specify the time within which repairs as soon as is reasonably practicable after such damageor construction will be completed, and such failure is not due to Force MajeureBBI shall have the option, and in any event if Landlord does not commence repairs by notifying Lessor within sixty (60) days of the casualty, Tenant may elect to terminate this Lease by notice to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up receipt of Lessor’s notice, to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect either to terminate this Lease in and further liability hereunder or to extend the manner provided above. If (i) the Premises are so damaged term hereof by fire or other casualty (whether or not insured) at any a period of time during the last thirty (30) months of the Term that the cost equivalent to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date happening of repair such destruction or damage until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage premises are restored to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenanttheir former condition. In the event BBI elects to extend the term of any terminationthis Lease, Lessor shall with due diligence restore the Term shall expire as though such effective termination date were premises to their former condition within the date originally stipulated time specified in Section 1.1 for the end of the Term notice and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes BBI shall be apportioned as entitled to an equitable abatement of such daterent. If this Lease is terminated by reason of destruction or damage or rent is required to be abated, Lessor shall refund any rent paid in advance and any unearned charges.

Appears in 1 contract

Samples: Entire Agreement (RBC Bearings INC)

DAMAGE BY FIRE OR CASUALTY. If the Premises or any part thereof shall be damaged by fire or other insured casualty, then, subject to the last paragraph of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) to repair or cause to be repaired all damage to the Premises (except for damage to leasehold improvements installed by Tenant without notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence any negligent act, negligent omission or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy, which Landlord represents and warrants is, as of the date hereof, $5,000 (provided that such deductible may change from time to time in Landlord’s sole discretion). All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiryany casualty, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty twelve (18012) days months from the date of the casualty, then Tenant may terminate this Lease and the 333 Lease by notice given to Landlord and landlord under the 333 Lease within thirty (30) days after Tenant’s delivery receipt of Landlord’s architect’s estimate. If Landlord fails to provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs within thirty (30) days after any casualty, Tenant may provide Landlord with a written notice requesting such good faith estimate. If Landlord fails to provide such good faith estimate within thirty (30) days following Tenant’s written request described in the previous sentence, Tenant shall have the right to terminate this Lease and the 333 Lease upon written notice given to Landlord and landlord under the 333 Lease. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty one hundred ninety (6090) days of the casualty, Tenant may elect to terminate this Lease and the 333 Lease by notice to LandlordLandlord and the landlord under the 333 Lease. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease and the 333 Lease by notice to Landlord and the landlord under the 333 Lease within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety sixty (9060) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety sixty (9060) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty eighteen (3018) months of the Term that and the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) at any time during the last thirty-six (36) months of the Term (which shall include any extension options that Tenant has exercised or that Tenant exercises following such damage or casualty, it being agreed that if there are any remaining extension options under this Lease, Tenant may exercise the same within sixty (60) days of any such casualty in which case there shall be more than thirty-six (36) months remaining in the Term and Landlord may not exercise such termination rights set forth in this subsection (ii)) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenant. In the event of any termination, the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end of the Term and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes shall be apportioned as of such date. In the event that the 333 Lease is terminated on account of a casualty event, then this Lease shall be so terminated as of the effective date of the termination of the 333 Lease.

Appears in 1 contract

Samples: Altus Pharmaceuticals Inc.

DAMAGE BY FIRE OR CASUALTY. 22. During the term of this lease Lessor agrees to carry standard form “All Risk” property insurance on the building wherein the premises are situated for full replacement thereof and shall provide Lessee with a certificate of insurance reflecting such coverage, if requested. If the Premises premises or any part a portion thereof shall be damaged destroyed or injured by fire any cause and such destruction or other insured casualtyinjury could reasonably be repaired within 90 days thereafter, thenLessor shall with diligence undertake and substantially complete repairs within 90 days after the happening of such destruction or injury. If Lessee shall be deprived of the occupancy of any portion of the premises due to any destruction or injury but can nevertheless continue to engage in its regular business, subject a rental abatement shall by allowed in proporation to the last paragraph area rendered untenantable and continuing until premises are restored. No rent shall be payable during any period that Lessee is unable to engage in its regular business. If the destruction or injury cannot reasonably be repaired within 90 days after the happening thereof, Lessor shall notify Lessee within 30 days after the happening of this Section 6.1, Landlord shall proceed with diligence, subject to then applicable statutes, building codes, zoning ordinances and regulations of any governmental authority, and at the expense of Landlord (but only to the extent of insurance proceeds made available to Landlord by any mortgagee of the Building) such destruction or injury whether or not Lessor will repair or rebuild. If Lessor elects not to repair or cause rebuild, this lease shall be terminated. If Lessor shall elect to repair or rebuild, Lessor shall specify the time within which repairs or reconstruction will be repaired all damage to completed and Lessee shall have the Premises (except for damage to leasehold improvements installed by Tenant without option within 30 days after the receipt of such notice to and, if required by this Lease, approval by Landlord). All such repairs made necessary by the negligence or willful misconduct of Tenant shall be made at the Tenant’s expense to the extent that the cost of such repairs does not exceed the deductible amount in Landlord’s insurance policy. All repairs to and replacements of property which Tenant is entitled to remove shall be made by and at the expense of Tenant. If the Premises or any part thereof shall have been rendered unfit for use and occupation hereunder by reason of such damage the Annual Fixed Rent and Additional Rent for Operating Expenses or a just and proportionate part thereof, according to the nature and extent to which the Premises shall have been so rendered unfit, shall be abated until the Premises (except as to the property which is to be repaired by or at the expense of Tenant) shall have been restored as nearly as practicable to the condition in which they were immediately prior to such fire or other casualty. Landlord shall not be liable for delays in the making of any such repairs which are due to Force Majeure, nor shall Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing such damage. Between thirty (30) and sixty (60) days after any casualty, Tenant may inquire of Landlord as to Landlord’s estimate of the time period necessary to complete repair of the Premises. Within thirty (30) days after such inquiry, Landlord shall provide Tenant with Landlord’s architect’s good faith estimate of the time to complete such repairs and if such estimate (which shall be non-binding) shall be more than one hundred eighty (180) days from the date of the casualty, then Tenant may terminate this Lease by notice given to Landlord within thirty (30) days after Tenant’s delivery of Landlord’s architect’s estimate. If Landlord fails to commence repairs as soon as is reasonably practicable after such damage, and such failure is not due to Force Majeure, and in any event if Landlord does not commence repairs within sixty (60) days of the casualty, Tenant may elect either to terminate this Lease lease and further liability thereunder or to extend the term or renewal term of this lease by notice a period of time equivalent to Landlord. If Landlord, having commenced such repair, has not completed the repair of such damage by the later of (i) one hundred eighty (180) days from the occurrence of such damage, or (ii) the date given in any Landlord’s architect’s repair period estimate under the prior paragraph (the later of such dates is referred to below as the “Outside Restoration Date”), Tenant may elect to terminate this Lease by notice to Landlord within twenty (20) days of the Outside Restoration Date, the termination to be effective not less than thirty (30) days after the date on which such termination notice is received by Landlord. The Outside Restoration Date shall be extended for up to ninety (90) days on account of delays caused by Force Majeure. Landlord shall not be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting from delays in repairing the damage, however if the delays continue more than ninety (90) days beyond the initial Outside Restoration Date, Tenant may elect to terminate this Lease in the manner provided above. If (i) the Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty (30) months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Annual Fixed Rent payable hereunder for the period from the estimated completion date happening of repair such destruction or injury until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage premises are restored to the Building occurs by fire or other insured casualty and any mortgagee shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the Term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee regarding such situation, following such fire or other casualty; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is delivered to Tenanttheir former condition. In the event of any termination, Lessee elects to extend the Term shall expire as though such effective termination date were the date originally stipulated in Section 1.1 for the end term of the Term lease, Lessor shall restore the premises to their former condition within the time specified in the notice and the Annual Fixed Rent and Additional Rent for Operating Expenses and Taxes Lessee shall be apportioned as entitled to an abatement of such daterent in the manner hereinbefore described.

Appears in 1 contract

Samples: Lease (Mainstreet Bankshares Inc)

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