Common use of Damage by Fire or Other Casualty Clause in Contracts

Damage by Fire or Other Casualty. If the Leased Premises shall be damaged by fire or other casualty resulting from any fault, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abated.

Appears in 3 contracts

Samples: Lease Agreement (MST Enterprises Inc), Lease Agreement (MST Enterprises Inc), Lease Agreement (MST Enterprises Inc)

AutoNDA by SimpleDocs

Damage by Fire or Other Casualty. If If, through no fault or negligence of Tenant, his visitors, agents or servants, the Leased Premises shall be partially damaged by fire or other casualty resulting from casualty, the damage, excluding any fault, negligence, or willful act of Tenant’s alterations, its agentsfloor coverings, employees equipment, decorations or inviteesfixtures, such damage shall be repaired by Landlord, and at the expense rent, until such repairs are made, shall be apportioned according to the portion of Tenant under the direction and supervision of Landlord and Premises which are still usable. If the damage shall be so extensive as to render the Premises wholly untenantable, in Landlord’s sole reasonable opinion, the rent shall continue without abatementcease until such time as the Premises shall become tenantable. If in the last year of a Term or any ExtensionHowever, if applicablethe damage is so extensive, improvements on in Landlord’s sole reasonable opinion, that the Leased Premises should cannot be made tenantable within three (3) months from the date of the fire or other casualty, either party shall have the right to terminate this Lease upon ten (10) days written notice to the other. In case the Building generally throughout (though the Premises may not be affected) is so badly damaged injured or destroyed by fire or other casualty that Landlord shall decide not to rebuild or reconstruct the Building, the term of this Lease shall cease upon ten (10) days written notice sent by Landlord and the rent shall be paid up to the time of such destruction and the Lease shall thereafter be of no further effect. In the event that any question shall arise between Landlord and Tenant as to make the Leased Premises untenantable, then, Landlord whether or Tenant not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays, which may arise in connection with the option to terminate this Lease by written notice delivered to adjustment of the fire insurance loss and for any delays arising out of what are commonly known as “labor troubles” or “material troubles” or from any other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereundercause beyond Landlord’s control. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently not be liable to Tenant by reason of fire or other damage to the Building or the Premises. Anything contained herein to the contrary notwithstanding, if the proceeds of Landlord’s insurance (recovered or recoverable) as a result of any damage to the demised premises by a casualty shall be insufficient to pay for the cost of repair and restore the damaged or destroyed portions of the Leased Premises to substantially premises, or if the same condition existing prior to such damage or destruction. Should premises shall be damaged by a casualty which is not covered by Landlord’s insurance, Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by giving written notice of such termination to Landlord Tenant within 30 ninety (90) days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedcasualty.

Appears in 2 contracts

Samples: Office Space Lease (Gulfstream International Group Inc), Office Space Lease (Gulfstream International Group Inc)

Damage by Fire or Other Casualty. 13.1. If the Leased Premises shall be damaged by any fire or other casualty resulting from any fault, negligence, (whether insured or willful act uninsured) renders all or a substantial portion of Tenant, its agents, employees the Premises or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises Building untenantable, thenLandlord will, Landlord or Tenant shall have with reasonable promptness not to exceed 45 days after the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days occurrence of such damage, estimate the length of time that will be required to substantially complete the repair and restoration and will by notice advise Tenant shall of such estimate (“Landlord’s Notice”). If Landlord estimates that the amount of time required to substantially complete such repair and restoration will exceed 180 days from the date such damage occurred, then Landlord, or Tenant (but with respect to Tenant only if all or a substantial portion of the Premises, or the Common Areas used to access the Premises, is rendered untenantable and the time period of in excess of 180 days relates to the repair of the Premises and Common Areas, if applicable), will have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable retroactively to the date of restoration such damage upon giving written notice to the other at any time within 20 days after delivery of Landlord’s Notice, provided that if Landlord so chooses, Landlord’s Notice may also constitute such notice of termination. However, in the event (i) a fire or other casualty renders all or a substantial portion of the Leased Premises or the Building untenantable prior to the First Phase Rent Commencement Date and (ii) if the estimated time to substantially complete the same condition existing prior repair and restoration set forth in Landlord’s Notice exceeds 180 days from the anticipated First Phase Rent Commencement Date, then either party may terminate this Lease upon giving written notice to the other at any time within 20 days after delivery of Landlord’s Notice, provided that if Landlord so chooses, Landlord’s Notice may also constitute such damage, the Monthly Rent payable hereunder shall be proportionately abatednotice of termination.

Appears in 2 contracts

Samples: Lease Agreement (iCIMS Holding LLC), Lease Agreement (iCIMS Holding LLC)

Damage by Fire or Other Casualty. If during the Leased Premises Term any of -------------------------------- the Hotels shall be damaged or destroyed by fire fire, or any other casualty or cause whatsoever, Tenant shall forthwith proceed to repair and/or rebuild the same, free of all liens, claims and encumbrances, to the same general design and specification as existed immediately before such damage or destruction occurred, subject to such delays as may be reasonably attributable to governmental restrictions or failure to obtain materials or labor, or other casualty resulting from any faultcauses (other than financial), negligencewhether similar or dissimilar, or willful act beyond the control of Tenant, its agents, employees or invitees, such damage . Materials used in repair shall be repaired by and at the expense as nearly like or superior in quality to original materials as may then be reasonably procured in regular channels of Tenant under the direction and supervision supply. All proceeds of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements insurance carried on the Leased Premises should be so badly damaged by fire or other casualty pursuant to Article XIII hereof and payable as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event a result of such damage or destruction, other than proceeds attributable to Tenant's personal property and other than the proceeds of insurance referred to in which event neither party hereto Section 13.1(c), shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to be used for the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions purpose of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding in accordance with the provisions of Article XIII, and, if either Landlord or the Insurance Trustee shall fail to make such insurance proceeds available in violation of the provisions of Article XIII, and such failure shall continue for a period of 90 days after Notice of such improvements failure is delivered by Tenant to Landlord, Tenant's obligation to repair and rebuild hereunder shall be suspended until such time as such insurance proceeds are so made available. If such insurance proceeds are not so made available within 180 days one (1) year thereafter as a result of such damagea continued violation of the provisions of Article XIII by the Insurance Trustee or Landlord then, but only then, may Tenant shall have the right to at its option, terminate this Lease upon ninety (90) days prior Notice to Landlord. Upon any such termination, Landlord shall have all rights to any insurance proceeds. If Tenant is not required to repair or rebuild by notice to Landlord within 30 days after the terms or conditions of this Lease, all such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable insurance proceeds (whether paid to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder Insurance Trustee or Tenant) shall be proportionately abatedpaid to Landlord. If Tenant is required to, and does repair or rebuild, any excess insurance proceeds shall be paid to Tenant.

Appears in 2 contracts

Samples: Lease (Red Lion Hotels Inc), Contribution Agreement (Red Lion Hotels Inc)

Damage by Fire or Other Casualty. If Subject to the Leased other provisions of this Section, in the event the Premises shall be is damaged by fire or other casualty perils, this Lease shall remain in full force and effect. If Landlord does not terminate this Lease, then Landlord shall forthwith repair the Premises to a state ready for restoration by Tenant of Tenant’s improvements. Notwithstanding the foregoing, Landlord shall not have any obligation whatsoever to repair, reconstruct or restore the Premises the Landlord or Tenant may terminate this Lease when (a) the damage resulting from any faultcasualty covered under this Section occurs during the last nine (9) months of the term of this Lease; (b) the Premises are damaged to the extent of thirty percent (30%) or more thereof; (c) thirty percent (30%) or more of the Building is damaged; (d) the insurance available to Landlord is not sufficient to cover the cost of such repair, negligencereconstruction or restoration; or (e) the holder of any deed of trust or mortgage encumbering the Building does not permit use of such insurance proceeds for reconstruction. Tenant shall be entitled to an abatement in Base Rent in proportion to the portion of the Premises that is rendered untenantable by such damage; provided, however, if the damage is due to the acts or willful act omissions of TenantTenant or its employees, its agentsand the same is not covered by any rent loss insurance carried by Landlord, employees or invitees, there shall be no abatement of rent. Such abatement shall commence as of the date of such damage and shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements terminate on the Leased Premises should be so badly damaged by fire or other casualty as earlier to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within occur of thirty (30) days following after the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to date Landlord delivers the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage Tenant for restoration of Tenant’s improvements or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedTenant re-opens for business.

Appears in 2 contracts

Samples: Lease Agreement, Lease Agreement

Damage by Fire or Other Casualty. If Tenant shall promptly notify Landlord of any damage or destruction of any portion of the Leased Premises and diligently repair or reconstruct the Premises to a like or better condition than existed prior to such damage or destruction in accordance with Section 8.4. Any net insurance proceeds payable with respect to the casualty shall be damaged paid directly to Landlord and, if an Event of Default has not occurred hereunder, used for the repair or reconstruction of the Premises pursuant to Landlord’s disbursement requirements. If such proceeds are insufficient, Tenant shall provide the required additional funds; if they are more than sufficient, the surplus shall belong and be paid to Tenant. Except as otherwise specifically set forth in this Section 17, Tenant shall not have any right under this Lease, and hereby waives all rights under applicable law, to xxxxx, reduce or offset rent by fire reason of any damage or other casualty resulting from destruction of any fault, negligence, portion of the Premises by reason of an insured or willful act of Tenant, its agents, employees or invitees, uninsured casualty. In the event any such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in or destruction occurs during the last year six (6) months of a the Initial Term or any Extensionapplicable Renewal Term, if applicableto the extent of fifty percent (50%) or more of the replacement value of the Facility, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantableTenant may, then, Landlord or Tenant shall have the at Tenant’s option to terminate this Lease be evidenced by written notice delivered in writing given to the other party Landlord within thirty (30) days following after the event occurrence of such damage or destruction, elect to pay to Landlord any available insurance proceeds, including, without limitation, business interruption insurance proceeds described in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effectSection 5.7, in which event Landlord this Lease shall promptly and diligently repair and restore terminate; provided, however, that if the damaged or destroyed portions available insurance proceeds are insufficient to cover the cost of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding reconstruction of such improvements within 180 days of such damagethe Facility, Tenant shall have remain obligated to pay the right additional cost to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For repair or reconstruct the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedFacility.

Appears in 2 contracts

Samples: Lease (Emeritus Corp\wa\), Lease (Emeritus Corp\wa\)

Damage by Fire or Other Casualty. a) If the Leased Premises shall be or Building is damaged or destroyed by fire or other casualty resulting from any faultcasualty, negligenceTenant shall promptly notify Landlord whereupon Landlord shall, subject to the consent of Landlord's present or willful act of Tenantfuture mortgagee and to the conditions set forth in this Section 15, its agentsrepair, employees rebuild or invitees, replace such damage and restore the Premises to substantially the same condition as the Premises were in immediately prior to such damage or destruction; provided, however, that Landlord shall only be repaired by obligated to restore such damage or destruction to the extent of the proceeds of fire and at other extended coverage insurance policies. Notwithstanding anything to the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If contrary contained in the last year of a Term or any Extensionthis Lease, if applicable, improvements on the Leased Premises should be so badly is damaged or destroyed by fire or other any casualty which cannot, despite diligent, good faith efforts be repaired or restored within one hundred eighty (180) days following the date on which such damage occurs, then Tenant or Landlord may elect to terminate this Lease effective as of the date of such damage or destruction. Within thirty (30) days after the date of such damage, the parties shall determine how long the repair and restoration will take. After that determination has been made, if the determination is that the restoration will take more than one hundred eighty (180) days to make the Leased Premises untenantablecomplete, then, Tenant and Landlord or Tenant shall have the option a period of thirty (30) days to terminate this Lease by giving written notice delivered to the other. If neither party elects to terminate this Lease as provided herein, then Landlord shall, subject to the provisions of this Section, promptly commence and diligently pursue to completion the repair of such damage so that the Premises are restored to a condition of similar quality, character and utility for Tenant's purposes. If the Premises are not substantially repaired and restored within two hundred and forty (240) days of the date of the damage, Tenant may cancel this Lease at any time before Landlord substantially completes the repairs and delivers the restored Premises to Tenant. If Tenant does not so terminate, Landlord shall continue to restore the Premises. In the event of termination, Landlord shall return any prepaid Fixed Basic Rent, Additional Rent and any other party prepaid amounts to Tenant within thirty (30) days following from the event date of such termination of this Lease. If any damage or destructiondestruction occurs to the Premises during the last year of the Term and the cost to repair the damage exceeds Five Hundred Thousand Dollars ($500,000.00) either Landlord or Tenant may terminate this Lease upon giving the other party thirty (30) days written notice; provided, however, that if Landlord notifies Tenant that it wishes to terminate this Lease, then Tenant may, if it has not already done so, exercise its right to extend the term of the Lease under Rider A, whereupon Landlord's election to terminate shall be null and void. If Landlord is required to repair or restore the Premises under any provision of this Article and Tenant's use of the Premises is affected, then until Landlord completes such repair or restoration, Fixed Basic Rent, Additional Rent and all other charges payable by Tenant hereunder shall xxxxx in their entirety, unless Tenant remains in possession of the Premises, in which event neither party hereto such rent and other charges shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to xxxxx based on the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions portion of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease which is not being used by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedTenant.

Appears in 2 contracts

Samples: Broadview Networks Holdings Inc, Broadview Networks Holdings Inc

Damage by Fire or Other Casualty. If In the Leased event the Premises shall be damaged partially or totally destroyed by fire or other casualty resulting from any faultinsured under the insurance carried by Landlord so as to become partially or totally untenantable, negligence, or willful act of Tenant, its agents, employees or invitees, such then the damage to the Premises shall be promptly repaired by (unless Landlord shall elect not to rebuild as herein provided), and the Base Rent and Additional Rent shall be abated in proportion to the floor area of the Premises rendered untenantable. Payment of full rental so abated shall commence from the 5th day following the date that Landlord advises Tenant that the Premises are tenantable, unless Tenant resumes the use at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If an earlier time in the last year of a Term damaged area or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire continues use in such area following destruction or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destructiondamage, in which event neither party hereto there shall thereafter have be no abatement or any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease such abatement shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions terminate as of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration Tenant’s resumption of the Leased Premises to substantially the same condition existing prior to such damageuse, the Monthly Rent payable whichever shall apply. The obligation of Landlord hereunder shall be proportionately abatedlimited to reconstructing the Premises in accordance with the initial Plans for the original construction of the Premises by Landlord. In no event shall Landlord be required to repair or replace Tenant’s merchandise, trade fixtures, furnishings or equipment. The term of the Lease shall not be extended by any period for which the Premises are untenantable due to such casualty.

Appears in 2 contracts

Samples: Assignment and Assumption of Lease (Veri-Tek International, Corp.), Assignment and Assumption of Lease (Veri-Tek International, Corp.)

Damage by Fire or Other Casualty. In the event of any damage caused to the leased premises by fire or other casualty, if capable of accomplishment, Tenant shall give immediate written notice to Lessor, or if not capable of accomplishment, as soon thereafter as is reasonable under the circumstances. If Tenant does not so notify Lessor, Tenant shall be liable for all consequential damages directly or indirectly resulting from its failure to so notify Lessor, in addition to every other right and remedy which Lessor may have pursuant to this Lease, at law or in equity. In the Leased Premises event the leased premises shall be damaged by fire or other casualty resulting from any faultto the extent of fifty percent (50%) or less of the cost of replacement of the leased premises, negligence, or willful act of Tenant, its agents, employees or invitees, and such damage is covered by Lessor's insurance, and can be repaired within one hundred eighty (180) days after the date of the happening of the event causing the damage, Lessor shall cause the damage to be repaired, at its expense; provided, however, in the event such damage occurs during the last two (2) years of the term of this Lease, Lessor shall have no obligation to cause the damage to be repaired. In the event the leased premises shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty, and such fire or other casualty as shall not be covered by Lessor's insurance, or the leased premises shall be damaged to make the Leased Premises untenantableextent of more than fifty percent (50%) of the cost of replacement of the leased premises, thenor cannot be repaired within one hundred eighty (180) days after the date of the happening of the event causing the damage but can be repaired within two hundred seventy (270) days after the date of the happening of the event causing the damage, Landlord then in any of such events, Lessor may elect either to repair or rebuild the leased premises or to cancel this Lease, either of such elections to be made by the giving of written notice to such effect by Lessor to Tenant within sixty (60) days after the date of the happening of the event causing the damage. In the event Lessor gives Tenant written notice of its intention to repair or rebuild, then this Lease shall remain in force and effect. In the event Lessor does not give Tenant written notice of its intention to repair or rebuild or cancel this Lease within said sixty (60) days, this Lease may be cancelled at the option of either Lessor or Tenant shall have the option to terminate this Lease by written notice delivered by either party to the other party within thirty (30) days following after the expiration of Lessor's sixty (60) days' notice period. Cancellation, if appropriately elected, shall be effective as of the date when the damage occurred. In the event fifty percent (50%) or more of the building(s) constituting the Center of which the leased premises are a part shall be damaged by fire or other casualty, regardless of whether or not the leased premises are affected, and such fire or other casualty shall not be covered by Lessor's insurance, or such damage cannot be repaired within one hundred eighty (180) days after the date of the happening of the event causing the damage, then in any of such damage events, Lessor may elect either to repair or destructionrebuild said building or to cancel this Lease, in which either of such elections to be made by the giving of written notice to such effect by Lessor to Tenant within ninety (90) days after the date of the happening of the event neither party hereto shall thereafter have any further future obligations hereundercausing the damage. In any other eventthe event Lessor shall give written notice to Tenant of its election either to repair or rebuild, unless mutually agreed to the contrary, then this Lease shall continue remain in force and effect, in which . In the event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions Lessor does not give written notice to Tenant of the Leased Premises its election either to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to rebuild or to terminate this Lease within said ninety (90) days, this Lease may be cancelled at the option of either Lessor or Tenant by written notice by either party to Landlord the other within 30 thirty (30) days after such 180 days the expiration of Lessor's ninety (90) days' notice period. For the period beginning on Cancellation, if appropriately elected, shall be effective as of the date that when the Leased Premises were rendered untenantable damage occurred. As promptly as is practicable after such fire or other casualty and during any period of repair or reconstruction of the leased premises, Tenant shall continue the operation of its business within the leased premises to the extent practicable. If the fire or other casualty, repairing or rebuilding shall render the leased premises untenantable, in whole or in part, a proportionate abatement of the rent shall be allowed from the date of restoration the happening of the Leased Premises event causing the damage until the date Lessor completes the repairs or rebuilding, or, in the event of cancellation, until the effective date of such cancellation, said proportionate abatement to substantially be computed on the same condition existing prior basis of the relation which the square foot area of the space in the leased premises rendered untenantable bears to such damage, the Monthly Rent payable hereunder total square foot area of the leased premises. Nothing in this paragraph shall be proportionately abatedconstrued to permit the abatement, in whole or in part, or the other charges provided for in this Lease. In the event Lessor is obligated, or exercises its election to repair, restore or replace the improvements, it shall proceed with due diligence, and at its sole cost and expense, to make such repairs, restoration or replacement in such manner as to approximate original condition, reasonable wear and tear excepted, excluding therefrom improvements or betterments to the lease premises constructed or installed by Tenant or at Tenant's direction. In determining "due diligence," consideration shall be given to fire and other casualties, governmental restrictions and regulations, strikes, lock-outs, construction delays beyond the control of Lessor, and acts of God. In no event shall Lessor be required to repair, restore or replace the items hereinafter set forth to be repaired, restored, or replaced by Tenant. In the event Lessor is required or elects to repair, restore, or replace the improvements, Tenant shall proceed with due diligence, at Tenant's sole cost and expense, to repair, restore or replace improvements or betterments to the leased premises constructed or installed by Tenant or at Tenant's direction, its stock-in-trade, fixtures, furniture, furnishings, equipment, other personal property and signs. Lessor shall not be responsible for, nor liable to, Tenant for any damages whatsoever caused by any damage or destruction to the leased premises, nor for any delay in repairing, restoring or replacing, nor for inability to repair, restore, or replace, nor for any other cause whatsoever beyond Lessor's control. All property of Tenant and all property kept, stored or maintained in or upon the leased premises, adjacent sidewalks, loading areas or other common areas shall be at the sole risk of Tenant.

Appears in 1 contract

Samples: Lease Agreement (United Community Bancshares Inc)

Damage by Fire or Other Casualty. If the Leased Premises shall be 9.01 It is understood and agreed that if either building is damaged or destroyed in whole or in part by fire or other casualty resulting from any faultduring the term, negligence, the Landlord shall have the right to demolish or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by to repair and at restore the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatementdamaged building. If in the last year of a Term or any ExtensionLandlord elects not to repair and restore the damaged building, if applicable, improvements on the Leased Premises should be so badly damaged by Landlord may cancel this Lease within 30 days after such fire or other casualty by giving Tenant notice of Landlord's intention to so do. The Lease shall terminate as to make the Leased Premises untenantabledamaged building only, then60 days after such cancellation notice to Tenant in which event the rent shall be reduced by the amount attributable to the building which is subject to such cancellation ($20,792.00 per month as to 0000 Xxxxxxxxx Xxxxx or $15,500.00 as to 0000 Xxxxxxxxx Xxxxx). If Landlord elects to rerpair and restore the damaged building the rent and all other charges which are the obligation of Tenant under this Lease will xxxxx as to the damaged building ($20,792.00 per month as to 0000 Xxxxxxxxx Xxxxx or $15,500.00 as to 0000 Xxxxxxxxx Xxxxx) for the period the building is untenable. Notwithstanding anything to the contrary, if in the reasonable opinion of the Landlord and/or Tenant the premises cannot be or Tenant are in fact are not restored to its prior condition within six months after the date of such casualty than either party shall have the option to terminate this Lease by written notice delivered as to the building which was subject to such fire or other party casualty; provided, however, that if Tenant shall fail to adjust its own insurance or remove its damaged property and equipment within thirty (30) days following a reasonable time and as a result thereof the event of such damage or destructionrepair and restoration is delayed, in which event neither party hereto the aforesaid 6-month period shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed be extended for an additional period equal to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abateddelay.

Appears in 1 contract

Samples: Net Lease (Axsys Technologies Inc)

Damage by Fire or Other Casualty. If Subject to the Leased following sentences and to the last sentences of this Article, if, through no act, fault or negligence of Tenant or any of Tenant’s Agents, the Premises shall be partially damaged by fire or other casualty, the damage shall be repaired by Landlord within ninety (90) days, and the rent, until such repairs are made, shall be apportioned according to the portion of the Premises which are still usable. If the Premises and/or any portion of the Industrial Center shall be partially or totally damaged by fire or other casualty resulting from and such damage is caused, directly or indirectly, by the act, fault or negligence of Tenant or any fault, negligence, or willful act of Tenant’s Agents, its agents, employees or invitees, such the damage shall be repaired by Tenant, subject to the terms hereof, and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatementnot xxxxx as to any portion of the Premises and/or the Lease. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should damage shall be so badly damaged by fire or other casualty extensive as to make render the Leased Premises wholly untenantable, thenthe rent shall cease until such time as the Premises shall become tenantable, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of unless such damage was caused directly or destructionindirectly by Tenant or by any of Tenant's Agents, in which event neither party hereto the rent shall thereafter have any further future obligations hereundernot xxxxx or cease. In any other eventHowever, unless mutually agreed to if the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore damage is so extensive that the damaged or destroyed portions Premises cannot be made tenantable within eight (8) months from the date of the Leased Premises to substantially the same condition existing prior to such damage fire or destruction. Should other casualty, as reasonably determined by Landlord fail to substantially complete repair or rebuilding of such improvements within 180 sixty (60) days of such damagethe date of casualty, Tenant either party shall have the right to terminate this Lease by upon ten (10) days written notice to the other unless such damage was caused directly or indirectly by Tenant or by any of Tenant's Agents, in which event Tenant shall not be entitled to terminate this Lease. In the event that any question shall arise between Landlord within 30 days after such 180 days periodand Tenant as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond Landlord's reasonable control. For the period beginning on the date that the Leased Premises were rendered untenantable In any event, Landlord shall not be liable to the date Tenant by reason of restoration fire or other damage to the Building or the Premises, except for the gross negligence or willful misconduct of Landlord and in no event shall Landlord be liable to Tenant under this Lease notwithstanding any provision to the contrary under the Lease for loss of business or income. Tenant specifically acknowledges that it is not entitled and hereby waives and grants to Landlord any and all of its rights, title and/or interest that Tenant may have to any award for damages on account of the Leased Premises value of its leasehold interest (i.e., the value of the remaining term of this Lease), caused by such casualty. Notwithstanding anything to the contrary contained under this Article, Tenant agrees that Landlord shall not be liable to repair and/or replace any of Tenant’s (1) fixtures, inventory, personal property; or (2) improvements and/or alterations made by or on behalf of Tenant, and Tenant, in addition to any other insurance requirements hereunder, agrees to carry insurance for all such items and Tenant further agrees that after Landlord completes any required work of Landlord under this Article, that Tenant shall promptly proceed with reasonable diligence and at Tenant’s sole cost and expense to replace and/or rebuild the items referred to in this sentence to substantially the same condition existing prior to such damage, casualty and to otherwise make the Monthly Rent payable hereunder shall be proportionately abatedLeased Premises suitable for Tenant’s use.

Appears in 1 contract

Samples: Lease Agreement (Proguard Acquisition Corp)

Damage by Fire or Other Casualty. If the Leased Premises shall be damaged by fire or other casualty resulting from any fault, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired insured against by Landlord’s fire and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on extended coverage insurance policy covering the Leased Premises should can be so badly damaged fully repaired, in Landlord’s opinion, within one hundred and twenty (120) days from the date of such damage, Landlord, at Landlord’s sole cost and expense, shall repair such damage to Tenant’s satisfaction. Except as otherwise provided herein, until the repairs to the Leased Premises are substantially completed, the Rent and Ancillary Services Charge shall xxxxx pro-rata based on the part of the Leased Premises which is unusable by Tenant. If, however, the Leased Premises are rendered wholly untenable by fire or other casualty cause as to make determined by the local fire marshal having jurisdiction over the Leased Premises, or such other duly-authorized governmental individual or entity having jurisdiction over said matters, including the Landlord’s Board of Education and the Landlord shall decide not to rebuild the same, or if the entire Leased Premises untenantablebe so damaged that Landlord shall decide to demolish it or not to rebuild it, thenthen or in any of such events, Landlord or Tenant shall have the option to may, at its option, cancel and terminate this Lease by written giving Tenant notice delivered to the other party in writing, within thirty (30) days following of the occurrence of the event causing the damage, of such damage or destructionits intention to cancel this Lease, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to whereupon the contrary, term of this Lease shall continue in force terminate upon the thirtieth (30th) day after such notice is given and effect, in which event Landlord Tenant shall promptly and diligently repair and restore the damaged or destroyed portions of vacate the Leased Premises to substantially and surrender the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedLandlord.

Appears in 1 contract

Samples: Lease Agreement

Damage by Fire or Other Casualty. (a) If the Leased Premises or Building shall be damaged or destroyed by fire or other casualty resulting from any faultcasualty, negligenceTenant promptly shall notify Landlord and Landlord, or willful act of Tenantsubject to the conditions set forth in this Section 12, its agents, employees or invitees, shall repair such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing in which they were immediately prior to such damage or destruction, but not including the repair, restoration or replacement of the Initial Tenant Improvements or of other fixtures or alterations installed by Tenant. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damageshall notify Tenant in writing, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of the casualty, if Landlord anticipates that the restoration will take more than 180 days from the date of the Leased Premises casualty to complete; in such event, either Landlord or Tenant may terminate this lease effective as of the date of casualty by giving written notice to the other within 10 days after Landlord's notice. Moreover, if Landlord does not give Tenant notice that Landlord anticipates that the restoration will take more than 180 days from the date of the casualty to complete, but the actual restoration nevertheless exceeds 180 days, then Tenant may give Landlord written notice of Tenant's intent to terminate this lease; if Landlord fails to substantially complete Landlord's repair and restoration obligations within 30 days following Tenant's notice, Tenant may, by further written notice given before substantial completion of Landlord's repair and restoration, terminate this lease. Further, if a casualty occurs during the same condition existing prior last 12 months of the Term or any extension thereof, Landlord or Tenant may cancel this lease unless Tenant has the right to such damage, extend the Monthly Rent payable hereunder shall be proportionately abatedTerm for at least 3 more years and does so within 30 days after the date of the casualty.

Appears in 1 contract

Samples: Lease Agreement (Mgi Pharma Inc)

Damage by Fire or Other Casualty. If In the event the Leased Premises shall be are damaged by fire or other casualty resulting from any faultcasualty, negligenceneither Lessor or Lessee shall have the right to terminate this Lease, or willful act of Tenant, its agents, employees or invitees, but this Lease shall remain in full force and effect notwithstanding such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatementdamage. If in said casualty is covered by the last year of a Term insurance required to be provided by Lessee by Paragraph 15 hereof, Lessor shall proceed with reasonable dispatch to repair or any Extension, if applicable, improvements on rebuild the Leased Premises should be so badly damaged by fire or other casualty as nearly as reasonably possible to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same their condition existing prior to such damage or destruction. Should Landlord fail destruction and Lessor shall endeavor as far as practicable to substantially complete repair confine the cost of such repairing or rebuilding to the proceeds of such improvements within 180 days insurance received by Lessor, but any additional funds that may be required for such repairing or rebuilding sha11 be supplied by Lessor, in which case the annual rental hereunder shall be increased, effective as of the date that such repairs or rebuilding have been completed, by an amount equal to ten (10%) percent of such damageadditional funds, Tenant payable monthly in advance. Notwithstanding the foregoing provisions of this Paragraph 18, if the Leased Premises are destroyed, or damaged to an extent so as to render them wholly unfit for the purposes for which they are leased, by fire or other casualty, during this Lease, either Lessor or Lessee shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to effective as of the date of restoration of said fire or other casualty, by giving the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedother notice within thirty (30) days thereafter.

Appears in 1 contract

Samples: Windswept Environmental Group Inc

Damage by Fire or Other Casualty. In the event of any damage caused to the leased premises by fire or other casualty, if capable of accomplishment, Tenant shall give immediate written notice to Lessor, or if not capable of accomplishment, as soon thereafter as is reasonable under the circumstances. If Tenant does not so notify Lessor, Tenant shall be liable for all consequential damages directly or indirectly resulting from its failure to so notify Lessor, in addition to every other right and remedy which Lessor may have pursuant to this Lease, at law or in equity. In the Leased Premises event the leased premises shall be damaged by fire or other casualty resulting from any faultto the extent of fifty percent (50%) or less of the cost of replacement of the leased premises, negligence, or willful act of Tenant, its agents, employees or invitees, and such damage is covered by Lessor's insurance, and can be repaired within one hundred eighty (180) days after the date of the happening of the event causing the damage, Lessor shall cause the damage to be repaired, at its expense; provided, however, in the event such damage occurs during the last two (2) years of the term of this Lease, Lessor shall have no obligation to cause the damage to be repaired. In the event the leased premises shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty, and such fire or other casualty as shall not be covered by Lessor's insurance, or the leased premises shall be damaged to make the Leased Premises untenantableextent of more than fifty percent (50%) of the cost of replacement of the leased premises, thenor cannot be repaired within one hundred eighty (180) days after the date of the happening of he event causing the damage but can be repaired within two hundred seventy (270) days after the date of the happening of the event causing the damage, Landlord then in any of such events, Lessor may elect either to repair or rebuild the leased premises or to cancel this Lease, either of such elections to be made by the giving of written notice to such effect by Lessor to Tenant within sixty (60) days after the date of the happening of the event causing the damage. In the event Lessor gives Tenant written notice of its intention to repair or rebuild, then this Lease shall remain in force and effect. In the event Lessor does not give Tenant written notice of its intention to repair or rebuild or cancel this Lease within said sixty (60) days, this Lease may be canceled at the option of either Lessor or Tenant shall have the option to terminate this Lease by written notice delivered by either party to the other party within thirty (30) days following after the expiration of Lessor's sixty (60) days' notice period. Cancellation, if appropriately elected, shall be effective as of the date when the damage occurred. In the event fifty percent (50%) or more of the building(s) constituting the Center of which the leased premises are a part shall be damaged by fire or other casualty, regardless of whether or not the leased premises are affected, and such fire or other damage cannot be repaired within one hundred eighty (180) days after the date of the happening of the event causing the damage, then in any of such damage events, Lessor may elect either to repair or destructionrebuild said building or to cancel this Lease, in which either of such elections to be made by the giving of written notice to such effect by Lessor to Tenant within ninety (90) days after the date of the happening of the event neither party hereto shall thereafter have any further future obligations hereundercausing the damage. In any other eventthe event Lessor shall give written notice to Tenant of its election either to repair or rebuild, unless mutually agreed to the contrary, then this Lease shall continue remain in force and effect, in which . In the event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions Lessor does not give written notice to Tenant of the Leased Premises its election either to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to rebuild or to terminate this Lease within said ninety (90) days, this Lease may be canceled at the option of either Lessor or Tenant by written notice by either party to Landlord the other within 30 thirty (30) days after such 180 days the expiration of Lessor's ninety (90) days' notice period. For the period beginning on Cancellation, if appropriately elected, shall be effective as of the date that when the Leased Premises were rendered untenantable damage occurred. As promptly as is practicable after such fire or other casualty and during any period of repair or reconstruction of the leased premises, Tenant shall continue the operation of its business within the leased premises to the extent practicable. If the fire or other casualty, repairing or rebuilding shall render the leased premises untenantable, in whole or in part, a proportionate abatement of the rent shall be allowed from the date of restoration the happening of the Leased Premises event causing the damage until the date Lessor completes the repairs or rebuilding, or, in the event of cancellation, until the effective date of such cancellation, said proportionate abatement to substantially be computed on the basis of the relation which the square foot area of the space in the leased premises is rendered untenantable bears to the total square foot area of the leased premises. Nothing in this paragraph shall be construed to permit the abatement, in whole or in part, of the percentage rent or the other charges provided for in this Lease, but for the purpose of paragraph 11 the computation of percentage rent shall be based upon the revised minimum rent as the same condition existing prior may be abated pursuant to this paragraph. In the event Lessor is obligated, or exercises its election to repair, restore or replace. the improvements, it shall proceed with due diligence, and at its sole cost and expense, to make such damagerepairs, restoration or replacement in such manner as to approximate original condition, reasonable wear and tear excepted, excluding therefrom improvements or betterments to the Monthly Rent payable hereunder leased premises constructed or installed by Tenant or at Tenant's direction. In determining "due diligence," consideration shall be proportionately abatedgiven to fire and other casualties, governmental restrictions and regulations, strikes, lock-outs, construction delays beyond the control of Lessor, and acts of God. In no event shall Lessor be required to repair, restore or replace the items hereinafter set forth to be repaired, restored, or replaced by Tenant. In the event Lessor is required or elects to repair, restore, or replace the improvements, Tenant shall proceed with due diligence, at Tenant's sole cost and expense, to repair, restore or replace improvements or betterments to the leased premises constructed or installed by Tenant or at Tenant's direction, its stock-in-trade, fixtures, furniture, furnishings, equipment, other personal property and signs. Lessor shall not be responsible for, nor liable to, Tenant for any damages whatsoever caused by any damage or destruction to the leased premises, nor for any delay in repairing, restoring or replacing, nor for inability to repair, restore, or replace, nor for any other cause whatsoever beyond Lessor's control. All property of Tenant and all property kept, stored or maintained in or upon the leased premises, adjacent sidewalks, loading areas or other common areas shall be at the sole risk of Tenant.

Appears in 1 contract

Samples: Lease Agreement (United Community Bancshares Inc)

Damage by Fire or Other Casualty. In the event of any damage or loss to the Leased Premises by reason of fire or other casualty, Tenant will give immediate notice thereof to Landlord. If the Leased Premises shall be are partially damaged or destroyed by fire or other casualty resulting from any fault, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, thencasualty, Landlord or will notify Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following after the fire or casualty, whether or not the Leased Premises can be restored within one hundred twenty (120) days from such notice. In the Landlord’s sole judgment, if the Leased Premises can be restored within one hundred twenty (120) days, Landlord will restore the same at Landlord’s expense and will use its best efforts to complete restoration within said time period. In the event the damage cannot be restored within one hundred twenty (120) days, either party, by written notice to the other within five (5) days after receipt of such notice, to be effective thirty (30) days after receipt of such notice, may terminate this Lease and all obligations hereunder. Notwithstanding the foregoing, in no event will Landlord be obligated to expend for any repairs or restoration an amount in excess of the insurance proceeds recovered by Landlord on account of such damage or destruction. In the event of repair or restoration as herein provided, Minimum Rent and Additional Rent will be abated equitably, in a manner proportionate with the degree in which event neither party hereto shall thereafter have Tenant’s use of the Leased Premises is impaired commencing the date of destruction and continuing during the period of restoration. Tenant will continue operation of its business in the Leased Premises during any further future obligations hereundersuch period to the extent commercially practicable and the obligation of Tenant hereunder to pay all other charges set forth herein will remain in full force and effect. In Tenant will not be entitled to actual or consequential damages or other compensation or damages from Landlord for loss of use of the whole or any other eventpart of the Leased Premises, unless mutually agreed or the Building which forms a part of the Leased Premises, Tenant’s personal property or any inconvenience or annoyance occasioned by such damage or reconstruction. Notwithstanding the foregoing to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged if any such fire or destroyed portions other casualty is as a result of the Leased Premises to substantially the same condition existing prior to such damage negligence or destruction. Should Landlord fail to substantially complete repair or rebuilding willful acts of such improvements within 180 days of such damageTenant, Tenant shall will not have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that as aforesaid, and Tenant will, at Tenant’s sole cost and expense, promptly repair and restore the Leased Premises were rendered untenantable to the date of restoration Premises, and any portion of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedBuilding so damaged as a result of Tenant’s conduct.

Appears in 1 contract

Samples: Lease Agreement (TRM Corp)

Damage by Fire or Other Casualty. If the Leased Premises or the Building (including machinery and equipment used in its operation) shall be destroyed or damaged by fire or other casualty resulting and if the Premises or Building may be repaired and restored within one hundred twenty (120) days (plus such additional time during which Landlord may be prevented or delayed from any fault, negligencecompleting the repairs for causes beyond its reasonable control and for insurance adjustments) after such damage then Landlord shall have the option by notifying Tenant to: (a) repair and restore the same with reasonable promptness; or (b) elect to demolish the Building, or willful cease its operation, in which event this Lease shall automatically be canceled and terminated as of the date of such damage. In the event any such damage not caused by the act or neglect of Tenant, its agents, employees servants, employees, guests, licensees or inviteesinvitees renders the Premises untenantable and if this Lease shall not be canceled and terminated by reason on such damage, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and then rent shall continue without abatement. If in abate during the last year periox xxxinning with the date of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by such fire or other casualty and ending with the date when Landlord's work in the Premises is substantially completed, such abatement to be in an amount bearing the same ratio to the total amount of rent for such period as the untenantable portion of the Premises bears to make the Leased entire Premises. Landlord's work shall not include the repair, replacement or restoration of Tenant's fixtures or tenant improvements, including, but not limited to, special wall and floor coverings, special lighting fixtures, built-in cabinets and bookshelves. If such damage renders the Premises or the Building untenantable, thenin whole or in part, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party and if, in Landlord's judgment, such damage cannot reasonably be repaired and restored within thirty one hundred twenty (30120) days following (plus such additional time during which Landlord may be prevented from completing the event of such damage or destructionrepairs for causes beyond its reasonable control), in which event neither either party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to cancel and terminate this Lease as of the date of such damage, provided, however, that Tenant may not elect to terminate this Lease if such damage was caused by the act or neglect of Tenant, its agents, servants, employees, guests, licensees or invitees. Any right to terminate or any other option provided for any party in this Paragraph 12 must be exercised by written notice to Landlord the other party served within 30 one hundred thirty (130) days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder damage shall be proportionately abatedhave occurred.

Appears in 1 contract

Samples: Office Building Lease (Standard Management Corp)

Damage by Fire or Other Casualty. If After the Leased Delivery Date, if the Premises or any part thereof shall be damaged or destroyed by fire or other casualty resulting from any faultcasualty, negligenceTenant shall promptly notify Landlord, or willful act of and Tenant, its agentsprovided the City as subtenant has remained or agreed to remain or retake occupancy upon completion of repair and restoration, employees or inviteessubject to the conditions set forth in this Section and changes in Laws, shall repair such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing in which they were immediately prior to such damage or destruction. Should Landlord fail destruction with such modifications as may be desired by Tenant, whether or not (i) Tenant failed to substantially complete maintain the required insurance, (ii) the loss is not covered by the insurance required to be maintained by Tenant under this Master Lease or (iii) the proceeds of any such policies are insufficient to fully repair or rebuilding of such improvements within 180 days of restore such damage. Tenant shall not receive or be entitled to any abatement of Rent, even if the Premises are rendered untenantable as a result of the casualty. If a material casualty occurs during the last twelve (12) months of the Renewal Term only, and City as Subtenant has agreed to terminate its Sublease, Tenant shall have the right to may terminate this Master Lease by notice so long as it provides Landlord with funds sufficient to satisfy in full any outstanding principal balance and all interest, fees and charges due under any bonds or any mortgage loan encumbering the Premises (the “Make Whole Payment”) prior to any effective termination date. Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable will require Design Builder to repair and replace any damage to the date of restoration of the Leased Premises to substantially the same condition existing by fire or other casualty prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedDelivery Date.

Appears in 1 contract

Samples: Master Tenant Lease Agreement

Damage by Fire or Other Casualty. If If, through no fault or negligence of TENANT, its visitors, agents, or servants, the Leased Premises premises shall be partially damaged by fire or other casualty resulting from any faultcasualty, negligence, or willful act of Tenant, its agents, employees or invitees, such the damage shall be repaired by LANDLORD, and at the expense rent until such repairs are made, shall be apportioned according to the portion of Tenant under the direction and supervision of Landlord and premises which are still usable. If the damage shall be so extensive as to render the premises wholly untenantable, the rent shall continue without abatementcease until such time as the premises shall become tenantable. If in the last year of a Term or any ExtensionHowever, if applicablethe damage is so extensive that the premises cannot be made tenantable within three (3) months from the date rehabilitation is started, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other either party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by upon ten (10) days written notice to Landlord within 30 days after the other. In case the Building generally throughout (though the demised premises may not be affected) is so injured or destroyed by fire or other casualty that LANDLORD shall decide no to re-build or reconstruct the Building, the term of this Lease shall cease upon ten (10) days' written notice sent by LANDLORD and the rent shall be paid up to the time of such 180 days perioddestruction and the Lease shall thereafter be o no further effect. For In the period beginning event that any question shall arise between LANDLORD and TENANT as to whether or not repairs shall have been made with reasonable dispatch, due allowance shall be made for any delays which may arise in connection with the adjustment of the fire insurance loss and for any delays arising out of what are commonly known as "labor troubles" or "material troubles" or from any other cause beyond LANDLORD'S control. In any event LANDLORD shall not be liable to TENANT by reason of fire or other damage to the Building or the demised premises. LANDLORD shall not be liable to carry fire, casualty or extended damage insurance on the date that the Leased Premises were rendered untenantable to the date of restoration person or property of the Leased Premises to substantially TENANT or any person or property which may now or hereinafter be place in the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedleased premises.

Appears in 1 contract

Samples: Lease Agreement (Total Tel Usa Communications Inc)

Damage by Fire or Other Casualty. If the Leased Premises Sublessee shall be damaged by fire or other casualty resulting from promptly notify Sublessor of any fault, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destructiondestruction of any portion of the Premises and, in which event neither party hereto shall thereafter have subject to Sublessee’s receipt of sufficient insurance proceeds and any further future obligations hereunder. In any other eventfunds due from Sublessor as set forth below, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions reconstruct such portion of the Leased Premises to substantially the same a like or better condition existing than existed prior to such damage or destruction. Should Landlord fail Any net insurance proceeds payable with respect to substantially complete the casualty shall be paid directly to Sublessor and, if an Event of Default has not occurred hereunder, shall be HNZW//3583-1 used for the repair or rebuilding reconstruction of the applicable portion of the Premises. If such improvements within 180 days proceeds are insufficient, Sublessor shall provide the required additional funds; provided, however, that Sublessee shall contribute an amount equal to the applicable deductible under the property insurance coverage. If the proceeds are more than sufficient, the surplus shall belong and be paid to Sublessee. Sublessee shall not have any right under this Sublease, and hereby waives all rights under applicable law, to xxxxx, reduce or offset rent by reason of such damageany damage or destruction of any portion of the Premises by reason of an insured or uninsured casualty. If any of the Facilities is damaged and the damage is so extensive that more than thirty-three percent (33%) of the licensed beds for that Facility is damaged by fire or other casualty and cannot be used in the opinion of Sublessee, Tenant then Sublessee shall have the right to terminate this Lease by Sublease as to such Facility upon thirty (30) days written notice to Landlord within 30 days after Sublessor. In the event of such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damagetermination, the Monthly Rent and Additional Rent payable hereunder under this Sublease thereafter shall be proportionately abatedequitably adjusted.

Appears in 1 contract

Samples: Master Sublease Agreement (Adcare Health Systems, Inc)

Damage by Fire or Other Casualty. If 11.1 In the Leased event the Demised Premises shall be destroyed or so damaged by fire or other casualty resulting from any faultso as to render the Demised Premises wholly untenantable, negligenceLandlord, or willful act of Tenantat its option, its agents, employees or invitees, shall (a) restore and repair such damage to the Demised Premises in which event the basic monthly rent shall xxxxx on a per diem thirty (30) day month basis during the period of restoration; or (b) terminate this lease or any renewal thereof by giving written notice to Tenant thirty (30) days after such fire or casualty, and the rent shall terminate as of the day of such fire or casualty. In the event the leased premises shall be repaired destroyed or so damaged but are not thereby rendered wholly untenantable, Landlord shall restore the leased premises within ninety (90) days of the date of such fire or other casualty, and while such damage is being repaired, the basic monthly rent shall be reduced by and an amount which bears the same ratio to the monthly rent that the floor area rendered untenantable bears to the total floor area of the Demised Premises; if the amount of damage or destruction is such that Tenant cannot reasonably operate its business at the expense of Tenant under Premises, then the direction and supervision of Landlord and full rent shall continue without abatementxxxxx during said period of restoration. If in In the last year of a Term event the Demised Premises shall be destroyed or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty so as to make render the Leased Premises wholly untenantable, then, Landlord and such destruction or Tenant shall have damage occurs during the option to terminate last year of the term of this Lease by written notice delivered to or the other party last year of any option period hereunder, and such damage or destruction cannot be repaired within thirty ninety (3090) days following of the event date of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, then Tenant shall have the right may elect to terminate this Lease by giving written notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedLandlord.

Appears in 1 contract

Samples: Lease (Bremen Bearings Inc)

Damage by Fire or Other Casualty. If the Leased Premises shall be -------------------------------- damaged by fire or other casualty resulting from any faultduring the term but are not thereby rendered untenable in whole or part, negligenceLandlord shall promptly, or willful act of Tenantat its expense, its agents, employees or invitees, cause such damage shall to be repaired by and at the expense of Tenant under the direction and supervision of Landlord repaired, and rent shall continue without abatementnot be abated. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly or a substantial portion of the Building is damaged by fire or other casualty as to make during the Term, Landlord may, at its sole option, either (i) restore the Leased Premises untenantablewith reasonable dispatch to substantially the same condition they were in prior to such damage, then, Landlord or Tenant shall have the option to (ii) terminate this Lease by written notice delivered to provided, however, if the other party Leased Premises cannot be restored within thirty (30) days following of the event loss, Tenant may terminate this Lease. If Landlord elects to restore the Leased Premises, Landlord shall have no liability to restore any improvements as may have been made to the Leased Premises, after the date of this Lease, nor to restore any of Tenant's fixtures, decorations, equipment, furniture, or inventory. Landlord's responsibility shall be to return the Leased Premises and Building to at least such condition as existed at the commencement of this Lease. If the Leased Premises are rendered untenable in whole or in part as a result of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, and this Lease is not terminated, the Minimum Rent and Additional Rent payable shall continue in force be equitably and effect, in which event Landlord shall promptly proportionately abated (according to loss of use) during the period intervening between the date of such damage and diligently repair and restore the damaged or destroyed portions of date the Leased Premises to substantially the same condition existing prior to such damage are restored. If Landlord or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right elects to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on Lease, all rent payable shall be abated as of the date that of such damage and Tenant shall remove all of its property from the Leased Premises were rendered untenantable to within thirty (30) days of termination, provided Tenant is not in default at the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedtime.

Appears in 1 contract

Samples: Deed of Lease (Comdial Corp)

Damage by Fire or Other Casualty. Section 14.01. If the Leased Building and/or the Premises shall be or any portion thereof is damaged by fire any casualty which is or other casualty resulting from any faultwould be covered by customary comprehensive all risk commercial insurance policies carried by prudent tenants net leasing comparable buildings, negligence, or willful act Tenant shall promptly notify Landlord of Tenant, its agents, employees or invitees, the same and Tenant shall promptly and diligently repair such damage shall be repaired by and at restore and rebuild the expense of Tenant under Building and/or Premises in compliance with applicable codes and to substantially the direction and supervision of Landlord and rent shall continue without abatementsame condition as the Premises were in immediately prior to such damage, except as otherwise set forth below. If Notwithstanding the foregoing, in the last year of a Term or any Extension, if applicable, improvements on event the Leased Premises should be so badly Landlord's Work is damaged by fire any casualty which is or other casualty as to make the Leased Premises untenantablewould be carried by customary comprehensive all risk insurance policies carried by prudent owners of comparable buildings, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair such damage to Landlord's Work in compliance with applicable codes and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing as immediately prior to such damage, the Monthly Rent payable hereunder except as otherwise provided below. Such repair and restoration work shall be proportionately abateddiligently commenced and prosecuted by Tenant and Landlord, as applicable, until full completion thereof, and shall be performed substantially in accordance with the provisions of Articles 10 and 11. In the event the insurance proceeds available to Tenant or Landlord (if applicable) are not adequate to pay for the full cost of the repair and restoration work required to be performed by such party, then such deficiency shall be paid by the party obligated to perform the work. In no event shall either party be required to pay, in respect of such repair and restoration, an amount in excess of the insurance proceeds it would have received had such party carried the insurance required by Articles 13. Tenant and Landlord shall apply all insurance proceeds received with respect to any insurance required to be maintained by Tenant and Landlord hereunder for the purpose of fully repairing and replacing the damage required to be repaired by such party, as aforesaid.

Appears in 1 contract

Samples: Deed of Lease (Infocrossing Inc)

Damage by Fire or Other Casualty. If any part of the Leased Premises shall be damaged or a --------------------------------- material portion of the building which affects Tenant's occupancy is rendered untenantable by fire or other casualty resulting from any fault, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, thencasualty, Landlord or Tenant shall have the option may elect (a) to terminate this Lease as of the date of the fire or casualty by written notice delivered to the other party Tenant within thirty sixty (3060) days following after the event of such damage date, or destruction(b) to repair, restore or rehabilitate the Building or the Premises at Landlord's expense, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force not terminate but rent shall be pro-rated for that portion of the Premises that are untenantable and effectabated on a per diem basis for that portion of the Premises that is untenantable. If such damage is due to an act or omission of Tenant, in which event then Landlord shall promptly have such rights as are set forth herein at Tenant's cost and diligently repair expense. If Landlord elects so to repair, restore, or rehabilitate the Building or the Premises, said work shall be undertaken and restore prosecuted with all due diligence and speed. In the damaged or destroyed portions event of termination of the Leased Premises lease pursuant to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant this Section 4.9 rent shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning be apportioned on the date that the Leased Premises were rendered untenantable a per diem basis and paid to the date of restoration the fire or casualty. Further, Landlord shall carry all risk property damage insurance with flood and earthquake endorsements for the full replacement value of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedBuilding with Tenant as an additional insured as its interest may appear.

Appears in 1 contract

Samples: Standard Lease Agreement (Master Graphics Inc)

Damage by Fire or Other Casualty. If the Leased Premises shall be damaged are rendered partially or wholly untenantable by fire or other casualty resulting from any faultcasualty, negligenceand (i) cannot be materially restored within one hundred eighty (180) days of such damage, or willful act of Tenant, its agents, employees (ii) the Premises are damaged or invitees, such damage shall be repaired by and destroyed at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in any time during the last year eighteen (18) months of a Term the term of this lease then the Tenant or any Extension, if applicable, improvements on Landlord may terminate this lease as of the Leased Premises should be so badly damaged by date of such fire or other casualty as to make the Leased Premises untenantable, then, casualty. Tenant or Landlord or Tenant shall have the exercise their option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such fire or other casualty. For purposes hereof, the Premises shall be deemed “materially restored” if they are in such condition as would not prevent or materially interfere with Tenant’s use of the Premises for the purpose for which it was then being used. If this lease shall be terminated pursuant to this paragraph, the term of this lease shall end on the date or damage as if that date had been originally fixed in this lease for the expiration of the term hereof. If this lease is not terminated following damage by fire or destructionother casualty, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event then Landlord shall promptly and diligently proceed with all due diligence to repair and restore the damaged premises at Landlord’s cost; provided, however, in no event will Landlord be required to rebuild, repair or destroyed portions replace any part of the Leased Premises partitions, fixtures, additions and other improvements which may have been placed in or about the premises by Tenant except to substantially the same condition existing prior to such damage extent covered by insurance. Tenant agrees that during any period of restoration or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damagethe Premises, Tenant shall have continue the right operation of Tenant’s business within the Premises to terminate this Lease by notice to Landlord within 30 days after such 180 days periodthe extent practicable. For During the period beginning on from the date of damage until the date that the Leased untenantable portion of the Premises were rendered untenantable is materially restored, the rental shall be reduced to the date of restoration extent of the Leased proportion of the Premises to substantially which is untenantable; provided, however, there will be no abatement of rental if damage was occasioned by the same condition existing prior to such damagefault or negligence of Tenant, the Monthly Rent payable hereunder shall be proportionately abatedits employees, agents or invitees.

Appears in 1 contract

Samples: Lease (Computer Software Innovations Inc)

Damage by Fire or Other Casualty. If 15.1 Anything in this Lease to the Leased contrary notwithstanding, if the Demised Premises shall or the Building should be partially or totally damaged or destroyed by fire Fire or other casualty resulting from any fault, negligence, or willful act insurable under ,a standard form policy of Tenant, its agents, employees or invitees, fire and/or extended coverage insurance (including vandalism and malicious mischief if such damage shall be repaired coverage is carried by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any ExtensionLandlord) then, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written shall not have been canceled in accordance with the provisions hereinafter made in this Article XV, landlord will with reasonable dispatch after notice delivered to it of the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other eventrepair the damage, unless mutually agreed and replace, restore, and rebuild the Demised Premises and the Building to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destructionextent that insurance Proceeds are available. Should Landlord fail determine that the amount of insurance proceeds will not be sufficient to substantially complete repair accomplish the estimated cost of the required repair, replacement, restoration or rebuilding of such improvements within 180 rebuilding, then upon ninety (90) days of such damage, Tenant shall have the right to terminate this Lease by written notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to Tenant, from the date of the casualty, Landlord may, at its option, cancel this Lease or proceed to repair, replace, restore or rebuild the Demised Premises and the Building at its sole cost and expense. Landlord will commence such repair, replacement, restoration or rebuilding as soon as practicable after receiving notice from Tenant co do so, but under no circumstances later than one (1) year after receipt of such notice. Landlord shall no, be required by this Section to repair, replace, restore, or rebuild any property which Tenant shall, under the Leased Premises provisions of Article VIII above, be entitled to substantially remove from the same condition existing prior to such Demised Premises, it being agreed that Tenant shall bear the entire risk of loss, damage, or destruction of such property while it is on the Monthly Rent payable hereunder shall be proportionately abatedDemised Premises.

Appears in 1 contract

Samples: Lease Agreement (Affinity Entertainment Inc)

Damage by Fire or Other Casualty. In the event of any damage or loss to the Leased Premises by reason of fire or other casualty, Tenant will give immediate notice thereof to Landlord. If the Leased Premises shall be are partially damaged or destroyed by fire or other casualty resulting from any fault, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, thencasualty, Landlord or will notify Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following after the fire or casualty, whether or not the Leased Premises can be restored within one hundred twenty (120) days from such notice. In the Landlord’s reasonable judgment, if the Leased Premises can be restored within one hundred twenty (120) days, Landlord will restore the same at Landlord’s expense and will use its best efforts to complete restoration within said time period. In the event the damage cannot be restored within one hundred twenty (120) days, either party, by written notice to the other within five (5) days after receipt of such notice, to be effective thirty (30) days after receipt of such notice, may terminate this Lease and all obligations hereunder. Notwithstanding the foregoing, in no event will Landlord be obligated to expend for any repairs or restoration an amount in excess of the insurance proceeds recovered by Landlord on account of such damage or destruction. In the event of repair or restoration as herein provided, Minimum Rent and Additional Rent will be abated equitably, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to a manner proportionate with the contrary, this Lease shall continue in force and effect, degree in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions Tenant’s use of the Leased Premises is impaired commencing from the date of destruction and continuing during the period of such restoration. Tenant will continue operation of its business in the Leased Premises during any such period to substantially the same condition existing prior extent commercially reasonably practicable and the obligation of Tenant hereunder to pay all other charges set forth herein will remain in full force and effect. Tenant will not be entitled to any actual or consequential damages or other compensation or damages from Landlord for loss of the use of the whole or any part of the Leased Premises, or the Building which forms a part of the Leased Premises, Tenant’s personal property or any inconvenience or annoyance occasioned by such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedreconstruction.

Appears in 1 contract

Samples: Lease (Sycamore Networks Inc)

Damage by Fire or Other Casualty. If the Leased Premises or Common Areas shall be damaged or destroyed by fire or other casualty resulting from any faultcasualty, negligenceTenant shall promptly notify Landlord, or willful act of Tenantand Landlord, its agentssubject to the conditions set forth in this Section, employees or invitees, shall repair such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged Premises or destroyed portions of the Leased Premises Common Areas to substantially the same condition existing in which they were immediately prior to such damage or destruction, but not including the repair, restoration or replacement of the fixtures, equipment, or Alterations installed by or on behalf of Tenant. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damageshall notify Tenant, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of the casualty, if Landlord anticipates that the restoration will take more than 160 days from the date of the Leased casualty to complete; in such event, either Landlord or Tenant (unless the damage was caused by Tenant) may terminate this Lease effective as of the date of casualty by giving notice to the other within 10 days after Landlord’s notice. If a casualty occurs during the last 12 months of the Term, Landlord may terminate this Lease unless Tenant has the right to extend the Term for at least 3 more years and does so within 30 days after the date of the casualty. Moreover, Landlord may terminate this Lease if the loss is not covered by the insurance required to be maintained by Landlord under this Lease. Tenant will receive an abatement of Minimum Annual Rent and Annual Operating Expenses to the extent the Premises are rendered untenantable as a result of the casualty. Landlord shall use reasonable efforts to substantially perform such repairs so as to minimize the interference with Tenant’s use and occupancy of the Premises. Notwithstanding anything to the contrary contained in this Lease, if Landlord shall fail, either to complete the restoration and repair of the Premises, or to restore the same to their condition existing immediately prior to the fire or other casualty, within 160 days from the date of occurrence of the fire or casualty, then, in either such damageevent, Tenant may terminate this lease by 10 days’ prior written notice to Landlord given no later than 30 days after the Monthly expiration of the aforesaid 160-day period, and prior to completion of the restoration and repair of the Premises. In the event of a termination of this Lease in accordance with the provisions of this Section, Landlord shall refund to Tenant any Rent payable hereunder shall be proportionately abatedpaid for any time subsequent to the effective date of termination.

Appears in 1 contract

Samples: Lease Agreement (Novavax Inc)

AutoNDA by SimpleDocs

Damage by Fire or Other Casualty. If the Leased Premises shall be damaged by fire or other casualty resulting from any faultinsured against by Landlord’s fire and extended coverage insurance policy covering the School, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should can be so badly damaged fully repaired, in Landlord’s opinion, within one hundred and twenty (120) days from the date of such damage, Landlord, at Landlord’s sole cost and expense, shall repair such damage to Tenant’s satisfaction. Except as otherwise provided herein, until the repairs to the Leased Premises are substantially completed, the Rent and Ancillary Services Charge shall xxxxx pro-rata based on the part of the Leased Premises which is unusable by Tenant. If, however, the Leased Premises are rendered wholly untenantable by fire or other casualty cause as to make determined by the local fire marshal having jurisdiction over the Leased Premises, or such other duly-authorized governmental individual or entity having jurisdiction over said matters, and the Landlord shall decide not to rebuild the same, or if the entire Leased Premises untenantablebe so damaged that Landlord shall decide to demolish it or not to rebuild it, thenthen or in any of such events, Landlord or Tenant shall have the option to may, at its option, cancel and terminate this Lease by written giving Tenant notice delivered to the other party in writing, within thirty (30) days following of the occurrence of the event causing the damage, of such damage or destructionits intention to cancel this Lease, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to whereupon the contrary, term of this Lease shall continue in force terminate upon the thirtieth (30th) day after such notice is given and effect, in which event Landlord Tenant shall promptly and diligently repair and restore the damaged or destroyed portions of vacate the Leased Premises to substantially and surrender the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedLandlord.

Appears in 1 contract

Samples: Lease Agreement

Damage by Fire or Other Casualty. If In the Leased Premises event the Demised Premises, or any part thereof, shall be damaged by fire or other casualty resulting from any faultduring the term, negligenceLandlord agrees that it will restore the Demised Premises, with reasonable dispatch, to substantially the same condition they were in prior to such damage, and if the Demised Premises are rendered wholly or willful act partially untenantable as a result of Tenantsuch damage, its agents, employees or invitees, the Base Rent and all Additional Rent payable hereunder shall be equitably abated (according to the loss of use) during the period intervening between the date of such damage shall be repaired by and at the expense of Tenant under date the direction and supervision of Landlord and rent shall continue without abatementDemised Premises are restored. If Anything in the last year of a Term or any Extensionforegoing to the contrary notwithstanding, if applicablesuch damage occurs during the last two (2) years of the term, improvements on and if such damage exceeds fifty percent (50%) of the Leased Premises should be so badly damaged by fire or other casualty as to make then insurable value of the Leased Premises untenantableDemised Premises, then, either Landlord or Tenant shall have the option to may terminate this Lease lease as of the date of such damage, by written notice delivered giving to the other party written notice of its intention so to do within thirty (30) days following after the event of date such damage occurs; provided, however, that if this lease gives Tenant an option to extend the term (other than automatic renewal as set forth in paragraph 2) and Tenant extends the term of this lease for at least two (2) years by exercising such option within thirty (30) days after the time such fire or destructionother casualty occurs, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, nor Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days periodlease. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damageIf this lease is so terminated, the Monthly Rent rental payable hereunder shall be proportionately abatedabated as of the date of such damage, and Tenant shall remove all of its property from the Demised Premises within thirty (30) days after the notice of termination is given.

Appears in 1 contract

Samples: Shopping Center Lease (Jacobs Entertainment Inc)

Damage by Fire or Other Casualty. If the Leased Premises shall be damaged by fire or other casualty resulting from any fault, negligence, or willful act of Tenanttenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abated.

Appears in 1 contract

Samples: Lease Agreement (MST Enterprises Inc)

Damage by Fire or Other Casualty. If If, during the Leased Premises shall be term of this Lease, the real estate is so damaged by fire or other casualty resulting from any faultthat the real estate or the premises are rendered unfit for occupancy, negligence, or willful act of as determined by Landlord and Tenant, its agentsand Landlord gives Tenant written notice to that effect, employees then this Lease shall cease and terminate from the date of such damage. In such case, Tenant shall pay the rent apportioned to the time of damage and shall immediately surrender the premises to the Landlord upon Landlord's request therefor. If, following damage to the premises for cause other than by Tenant's acts or inviteesomissions to act, Landlord gives Tenant written notice that it has determined that such damage can be repaired within ninety (90) days from the date of damage, Landlord, if it so elects, may enter and repair, and this Lease shall not be affected except that the rent shall be apportioned and suspended while such repairs are being made until the premises are again suitable for occupancy. If, however, such damage is caused by Tenant's acts or failure to act, and Landlord elects, in accordance with this paragraph, to repair, then Tenant's obligation to pay rent shall not be suspended, nor shall such rent be apportioned but Tenant shall be repaired by and at obligated to pay the expense full rent reserved in accordance with the terms of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event during such period of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedrepair.

Appears in 1 contract

Samples: Center Lease (Tower Financial Corp)

Damage by Fire or Other Casualty. If the Leased Premises shall be damaged by fire or other casualty resulting from any fault, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially substantially, the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abated.

Appears in 1 contract

Samples: Lease Agreement (MST Enterprises Inc)

Damage by Fire or Other Casualty. 18.1 If the Leased Demised Premises shall be damaged by fire or other casualty resulting from any faultcasualty, negligence, not due to the negligence or willful act fault of Tenant, its agentsLandlord shall, employees or invitees, as soon as practicable after such damage shall be repaired by occurs (subject to being able to obtain all necessary permits and at approvals, including, without limitation, permits and approvals required from any agency or body administering environmental laws, rules or regulations, and taking into account the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of time necessary to effectuate a Term or satisfactory settlement with any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30insurance company) days following the event of repair such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, at Landlord's expense and this Lease shall continue in force not terminate. It is understood and effectagreed that the Building, in which event Landlord shall promptly and diligently repair and restore the whether partially or totally damaged or destroyed portions of the Leased Premises destroyed, need not be restored to substantially the same condition existing as existed prior to such damage or destruction, provided the Building is restored to a condition architecturally harmonious and consistent with the Demised Premises and the balance of the Building. Should Landlord fail shall not be required to substantially complete repair expend more for any repair, rebuilding, reconstruction, restoration, or rebuilding replacement of such improvements within 180 days the Demised Premises and/or the Building pursuant to this Paragraph than the amount of such damage, Tenant shall have the right to terminate this Lease by notice insurance proceeds paid to Landlord within 30 days after such 180 days periodin connection therewith (or if Landlord shall be self-insured, the amount of insurance proceeds which would otherwise have been paid to Landlord had not Landlord been so self-insured). For If the period beginning on the date Building is so substantially damaged that the Leased Premises were rendered untenantable it is reasonably necessary, in Landlord's judgment, to the date of restoration of the Leased Premises to substantially demolish the same condition existing prior to for the purpose of reconstruction, Landlord may demolish the same, in which event Landlord may treat such demolition as if it had been caused by the same cause as that which caused the damage, the Monthly Rent payable hereunder shall be proportionately abated.

Appears in 1 contract

Samples: Lease Agreement (Perficient Inc)

Damage by Fire or Other Casualty. If the Leased Premises shall be damaged or destroyed by fire or other casualty resulting from any faultcasualty, negligenceTenant shall promptly notify Landlord, and Landlord, subject to the conditions set forth in this Section, shall repair such damage and restore the Premises to substantially the same condition in which they were immediately prior to such damage or destruction, but not including the repair, restoration or replacement of the fixtures, equipment, or willful act Alterations installed by or on behalf of Tenant, its agentsexcept for Landlord’s Work. Landlord shall notify Tenant, employees or inviteeswithin 30 days after the date of the casualty, if Landlord anticipates that the restoration will take more than 180 days from the date of the casualty to complete, such damage shall be repaired by and at notice to include Landlord’s reasonable estimate of the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If time required to complete such restoration; in the last year of a Term or any Extensionsuch event, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, either Landlord or Tenant (unless the damage was caused by Tenant) may terminate this Lease effective as of the date of casualty by giving notice to the other within 10 days after Landlord’s notice. If (i) Landlord notifies Tenant that such repair and restoration will take more than 180 days from the date of the casualty to complete and neither party terminates this Lease, or (ii) Landlord anticipates that such repair and restoration will take 180 days or less from the date of the casualty to complete, then Landlord shall commence such repair and restoration (including, without limitation, the Landlord’s Work) as promptly as reasonably possible under the circumstances and shall diligently work to complete the repair and restoration, subject to delays caused by Tenant or its Agents or delays due to Force Majeure (as defined below). Notwithstanding anything to the contrary contained in this Section, (a) in the event Landlord notifies Tenant that such repair and restoration will be completed within said 180 day time period, and such restoration is not, in fact, substantially completed within such 180 day time period, as such time period shall be extended for delays caused by Tenant or its Agents and/or delays due to Force Majeure, then Tenant (unless the damage was caused by Tenant) shall have the option to terminate this Lease by on 30 days prior written notice delivered to the other party within thirty (30) days following the event by giving Landlord notice of such damage termination within 30 days after expiration of such 180 day time period, as such time period shall be extended for delays caused by Tenant or destructionits Agents and/or delays due to Force Majeure, in which event neither party hereto provided, however, that if Tenant gives such notice of termination pursuant to this paragraph and Landlord then substantially completes the restoration and repair within such 30 day time period, then Tenant’s notice of termination shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, be deemed revoked and this Lease shall continue in full force and effect, and (b) in which the event Landlord shall promptly and diligently notifies Tenant that such repair and restore restoration will take more than 180 days from the damaged or destroyed portions date of the Leased casualty to complete and neither party terminates this Lease, such notice to include Landlord’s reasonable estimate of the time required to complete such restoration, and such restoration is not in fact substantially completed within the time period set forth in Landlord’s notice, as such time period shall be extended for delays caused by Tenant or its Agents and/or delays due to Force Majeure, then Tenant (unless the damage was caused by Tenant) shall have the option to terminate this Lease on 30 days prior written notice by giving Landlord notice of such termination within 30 days after expiration of such time period, as such time period shall be extended for delays caused by Tenant or its Agents and/or delays due to Force Majeure, provided, however, that if Tenant gives such notice of termination pursuant to this paragraph and Landlord then substantially completes the restoration and repair within such 30 day time period, then Tenant’s notice of termination shall be deemed revoked and this Lease shall continue in full force and effect. For purposes of the foregoing sentence only, substantial completion shall mean the Premises has been restored to substantially the same condition existing in which it was in immediately prior to such damage or destruction, including the Landlord’s Work, but excepting the repair, restoration or replacement of the fixtures, equipment, or Alterations installed by or on behalf of Tenant and incomplete items which do not adversely affect in a material way or materially interfere with Tenant’s use and occupancy of the Premises, which incomplete items shall be set forth on a punch list; provided, however, that substantial completion shall not be later than the date Tenant takes possession of the Premises for the conduct of its business, if earlier. Should If a casualty occurs during the last 12 months of the Term, Landlord fail may terminate this Lease unless Tenant has the right to substantially complete repair or rebuilding extend the Term for at least 3 more years and does so within 30 days after Landlord’s notice to terminate. Moreover, Landlord may terminate this Lease if the loss is not covered by the terms of such improvements within 180 days of such damagethe insurance policies required to be maintained and actually maintained by Landlord under this Lease. Notwithstanding the foregoing, Tenant Landlord shall have the no right to terminate this Lease by notice under the preceding sentence if the damage to the Premises is sufficiently minor in scope such that (i) Rent or any portion thereof would not be abated as a result thereof, or (ii) Landlord within reasonably anticipates that less than 30 days after such 180 days periodwill be required to restore any damage. For Tenant will receive an abatement of Minimum Annual Rent and Annual Operating Expenses to the period beginning on extent the date that the Leased Premises were are rendered untenantable to the date of restoration as a result of the Leased Premises casualty. In the event of a casualty, Tenant may elect, in its sole discretion, whether to substantially restore, at its expense, any Alterations destroyed by such casualty and required to be removed at the same condition existing prior to such damage, end of the Monthly Rent payable hereunder shall be proportionately abatedTerm.

Appears in 1 contract

Samples: Lease Agreement (Zulily, Inc.)

Damage by Fire or Other Casualty. (a) If the Leased Premises or Common Areas shall be damaged or destroyed by fire or other casualty resulting from any faultcasualty, negligenceTenant shall promptly notify Landlord, or willful act of Tenantand Landlord, its agentssubject to the conditions set forth in this Section, employees or invitees, shall repair such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged Premises or destroyed portions of the Leased Premises Common Areas to substantially the same condition existing in which they were immediately prior to such damage or destruction, but not including the repair, restoration or replacement of the fixtures, equipment, or Alterations installed by or on behalf of Tenant. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damageshall notify Tenant, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of the casualty, if Landlord anticipates that the restoration will take more than 240 days from the date of the Leased casualty to complete; in such event, either Landlord or Tenant (unless the damage was caused by Tenant) may terminate this Lease effective as of the date of casualty by giving notice to the other within 30 days after Landlord's notice. If Landlord terminates this Lease pursuant to the immediately preceding sentence, and Landlord Commences to Reconstruct the Building within 240 days after the casualty, then provided that (i) no Event of Default existed at the time of the casualty, (ii) Tenant has provided Landlord with Tenant's then-current notice address in writing, and (iii) Tenant has not sublet or assigned all or any part of the Premises other than to an Affiliate of Tenant in accordance with this Lease, then Landlord shall promptly notify Tenant of the Commencement of Reconstruction of the Building in writing, and Tenant may, at Tenant's election, thereafter reinstate this Lease by delivering written notice thereof to Landlord within fifteen (15) days after Tenant's receipt of the aforementioned notice from Landlord. Tenant shall be permitted to retake possession of the Premises, and the abatement of Rent shall cease, upon the substantial completion of the Premises (including access thereto and parking therefor) to substantially the same condition existing that existed prior to the casualty, including Tenant's fixtures, equipment and Alterations, provided Tenant uses diligent efforts to complete the installation and construction of such damagefixtures, equipment and Alterations. If Tenant fails to deliver notice of its desire to reinstate the Lease to Landlord within the time period specified, Tenant shall be deemed to have waived the right to reinstate the Lease set forth in this Section 15(a). As used in this Section 15(a), the Monthly Rent payable hereunder phrase "Commences to Reconstruct the Building", and words of similar import, shall be proportionately abatedmean that Landlord has mobilized personnel and materials on the Property and has commenced construction activities on the Property intended to repair, restore or reconstruct the Building to substantially the condition that existed prior to the casualty, tenant fixtures, equipment and Alterations excepted.

Appears in 1 contract

Samples: Lease Agreement (Tasty Baking Co)

Damage by Fire or Other Casualty. 22.1 If the Leased Premises shall be damaged by fire or other casualty resulting from any faultcasualty: 1) except as otherwise provided in subsection (2) hereof, negligence, or willful act of Tenant, its agents, employees or invitees, such the damage shall be promptly repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent the Basic Rent and Additional Rent until such repairs shall continue without abatementbe made shall be equitably abated according to the part of the Premises which is usable by Tenant, unless such damage was caused by the gross negligence or willful misconduct of Tenant or its servants, agents, employees, invitees, or licensees, in which case no abatement of Basic Rent or Additional Rent shall be made. Landlord agrees, at its expense, to repair promptly any damage to the Premises, except that Tenant agrees to repair or replace its own furniture, furnishings and equipment. No penalty shall accrue due to an Excusable Delay. (2) If in the last year of a Term Premises are totally damaged or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged are rendered wholly untenantable by fire or other casualty, or if Landlord's architect certifies that it cannot be repaired within nine (9) months of the casualty as or if Landlord shall decide to make demolish the Leased Premises untenantable, thenBuilding, Landlord shall, within sixty (60) days after such fire or other casualty, give Tenant a notice of such circumstance or decision, and thereupon the Term shall expire ten (10) days after such notice is given, and Tenant shall have vacate the option Premises and surrender the same to terminate this Lease by written notice delivered Landlord. (3) If Landlord fails to complete the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions restoration of the Leased Premises within nine (9) months from the date of the casualty (subject to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Excusable Delays) then Tenant shall have the right to cancel and terminate this Lease by upon the delivery of a notice to Landlord delivered within 30 fifteen (15) days after such 180 days the expiration of the aforesaid nine (9) month period. For the period beginning (4) Landlord agrees that it shall diligently pursue all repair and restoration work required on the date that the Leased Premises were rendered untenantable its part to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedcompleted hereunder.

Appears in 1 contract

Samples: Agreement of Lease (Columbia Laboratories Inc)

Damage by Fire or Other Casualty. If In the Leased Premises event the Demised Premises, or any part thereof, shall be damaged by fire or other casualty resulting from by any fault, negligence, or willful act of Tenant, its agents, employees or inviteesinvitees during the term, hereof, Landlord agrees that it will restore the Demised Premises to the extent of the insurance proceeds received by Tenant with respect to the Demised Premises, with reasonable dispatch, to substantially the same condition it was in prior to such damage, and the proceeds of all insurance received with respect to the damage or destruction of the Demised Premises shall be repaired by and at deposited in a joint escrow account in the expense of Tenant under the direction and supervision name of Landlord and Tenant to be disbursed to Landlord as the restoration thereof progresses and as Landlord repairs or purchases replacement furniture, fixtures and equipment so damaged or destroyed. It is expressly understood and agreed that notwithstanding any damage to the Demised Premises by any act of Tenant, its agents, employees or invitees rendering the same totally or partially untenantable, there shall not be any abatement of rent and Tenant shall be and continue without abatementto remain liable for the payment of all rent and other amounts due hereunder during the period intervening between the date of such damage and the date the Demised Premises are restored. If Anything in the last year of a Term or any Extensionforegoing to the contrary notwithstanding, if applicablesuch damage occurs during the last six (6) months of the term hereof, improvements on and if such damage exceeds fifty percent (50%) of the Leased Premises should be so badly damaged by fire or other casualty as to make then insurable value of the Leased Premises untenantableDemised Premises, then, either Landlord or Tenant shall have the option to may terminate this Lease as of the date of such damage by written notice delivered giving to the other party written notice of its intention so to do within thirty (30) days following after the event of date such damage or destructionoccurs. If this Lease is so terminated, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed the proceeds of all insurance payable with respect to the contrarydamage or destruction shall belong, this Lease and be paid, to Landlord, the rent payable hereunder shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions be abated as of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days date of such damage, and Tenant shall have remove all of its property from the right to terminate this Lease by notice to Landlord Demised Premises within 30 thirty (30) days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date notice of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedtermination is given.

Appears in 1 contract

Samples: Lease Agreement (ADS Tactical, Inc.)

Damage by Fire or Other Casualty. If Tenant shall immediately notify -------------------------------- Landlord of any damage or destruction to the Leased Premises. In the event that (A) by reason of any damage or destruction, the Premises are rendered wholly untenantable, (B) the Premises are damaged as a result of a casualty, event, or risk which is not adequately covered by Landlord's fire insurance, (C) the Premises are damaged in whole or in part during the last twelve (12) months of the Lease Term or any extension or renewal thereof, (D) the building of which the Premises are a part (whether the Premises are damaged or not) or the buildings which then comprise the Development should be damaged to the extent that the Restoration Cost equals or exceeds thirty (30%) percent of the monetary value of such building, at the time of such damage, or (E) any buildings or Common Areas are damaged, whether or not the Premises are damaged, to such an extent that the Development cannot, in the sole judgment of Landlord, be profitably operated as an integral unit, then, in any of such events, Landlord may elect either to (i) repair the damage to the Premises (provided that Landlord's obligations to so repair shall not exceed in scope or expense the work done by Landlord with respect to the Premises prior to the Commencement Date), whereupon the Minimum Rent shall be damaged by fire or other casualty resulting from any fault, negligenceabated proportionately as to that portion of the Premises rendered untenantable during the period of such repair and restoration, or willful act (ii) terminate this Lease by notice of termination delivered to Tenant at any time after the occurrence of such damage, whereupon this Lease shall expire upon the date set forth in such notice, and Tenant shall vacate and surrender the Premises to Landlord on such date. Landlord shall give notice to Tenant of such election within sixty (60) days after the occurrence of such damage or destruction. In the event that Landlord does repair any damage as provided hereunder, any abatement of rent shall end when the Premises have been substantially repaired. In the event of abatement of Minimum Rent as expressly provided in this Paragraph 8.4, there shall be no abatement of additional rent or any other sums payable by Tenant under this Lease. In the event that the damage or destruction is caused by any act, omission or negligence of Tenant or any Invitees of Tenant, its agents, employees or invitees, such damage there shall be repaired by and at no abatement of Minimum Rent. Notwithstanding anything contained in this Paragraph 8.4 to the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If contrary, in the last year event that the Restoration Cost exceeds the aggregate sum of a Term Minimum Rent for the Lease Year in which the damage or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, thendestruction occurs, Landlord or Tenant shall have the option be entitled to terminate this Lease rather than perform such repairs and restoration, by written giving notice delivered of termination to the other party Tenant, which notice must be given within thirty twenty (3020) days following the event after Landlord (x) becomes aware of such damage or destruction, and (y) ascertains the approximate or exact Restoration Cost. Nothing contained in which event neither party hereto shall thereafter have any further future obligations hereunder. In Paragraph 8.1 or in this Paragraph 8.4, or any other eventprovision in this Lease, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abateddeemed to obligate Landlord to obtain or maintain any insurance of any nature.

Appears in 1 contract

Samples: Commercial Lease Agreement (Bioshield Technologies Inc)

Damage by Fire or Other Casualty. a. If the Leased Premises shall be or Building is damaged or destroyed by fire or other casualty resulting from any faultcasualty, negligenceTenant shall promptly notify Landlord whereupon Landlord shall, subject to the consent of Landlord’s present or willful act of Tenantfuture mortgagee and to the conditions set forth in this Section 18, its agentsrepair, employees rebuild or invitees, replace such damage and restore the Premises to substantially the same condition as the Premises were in immediately prior to such damage or destruction; provided, however, that Landlord shall only be obligated to restore such damage or destruction to the extent of the proceeds of fire and other extended coverage insurance policies. Notwithstanding the foregoing, if the Premises is destroyed or damaged to the extent that in Landlord’s sole judgment the Premises cannot be repaired or restored within one hundred eighty (180) days after such casually as determined by and at the expense of Landlord (such determination being promptly provided to Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extensionwriting), if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, either Landlord or Tenant shall have the option to may terminate this Lease by written notice delivered of its election to do so to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration Landlord’s determination of the Leased Premises time to substantially restore. If the same condition existing prior Lease is so terminated, the termination will be effective as of the date of the casualty and all Fixed Basic Rent and Additional Rent shall xxxxx from such date, and any Fixed Basic Rent or Additional Rent paid for any period beyond such date and all other charges as to such damage, the Monthly Rent payable hereunder Premises shall be proportionately abatedrefunded to Tenant.

Appears in 1 contract

Samples: Sublease Agreement (Nabriva Therapeutics AG)

Damage by Fire or Other Casualty. Tenant shall give prompt notice to Landlord in case of any fire or other damage to the Leased Premises. If the Leased Premises or the Building are damaged by fire or other casualty, Landlord shall diligently and as soon as practicable after such damage occurs (taking into account the time necessary to effectuate a satisfactory settlement with Landlord's insurance company) repair such damage at its own expense, and until such repairs have been completed the Basic Rent and Additional Charges shall be abated in proportion to the part of the Leased Premises which is rendered unusable for the normal conduct of Tenant's business. However, if the Leased Premises or the Building are damaged by fire or other casualty resulting to such an extent that the damage cannot be fully repaired within one hundred eighty (180) days from any fault, negligence, or willful act of Tenant, its agents, employees or invitees, the date such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extensionoccurs, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other either party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by giving notice of termination to the other within forty-five (45) days following the date Landlord notifies Tenant in writing that the estimated repair period will exceed one hundred eighty (180) days. Notwithstanding anything contained in this Lease to the contrary, if Landlord fails to complete such repairs within 30 two hundred forty (240) days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises casualty (without regard to substantially any force majeure event), Tenant shall have the same condition existing right to cancel this Lease by written notice given to Landlord at any time prior to completion of such damage, the Monthly Rent payable hereunder shall be proportionately abatedrepairs.

Appears in 1 contract

Samples: Office Lease Agreement (Integrated Information Systems Inc)

Damage by Fire or Other Casualty. If Tenant shall promptly notify Landlord of any damage or destruction of any portion of the Leased Premises and diligently repair or reconstruct the Premises to a like or better condition than existed prior to such damage or destruction in accordance with Section 8.4. Any net insurance proceeds payable with respect to the casualty shall be damaged paid directly to Landlord and, if an Event of Default has not occurred hereunder, used for the repair or reconstruction of the Premises pursuant to Landlord’s disbursement requirements. If such proceeds are insufficient, Tenant shall provide the required additional funds; if they are more than sufficient, the surplus shall belong and be paid to Tenant. Except as otherwise specifically set forth in this Section 17, Tenant shall not have any right under this Lease, and hereby waives all rights under applicable law, to axxxx, reduce or offset rent by fire reason of any damage or other casualty resulting from destruction of any fault, negligence, portion of the Premises by reason of an insured or willful act of Tenant, its agents, employees or invitees, uninsured casualty. In the event any such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in or destruction occurs during the last year six (6) months of a the Initial Term or any Extensionapplicable Renewal Term, if applicableto the extent of fifty percent (50%) or more of the replacement value of the Facility, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantableTenant may, then, Landlord or Tenant shall have the at Tenant’s option to terminate this Lease be evidenced by written notice delivered in writing given to the other party Landlord within thirty (30) days following after the event occurrence of such damage or destruction, elect to pay to Landlord any available insurance proceeds, including, without limitation, business interruption insurance proceeds described in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effectSection 5.7, in which event Landlord this Lease shall promptly and diligently repair and restore terminate; provided, however, that if the damaged or destroyed portions available insurance proceeds are insufficient to cover the cost of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding reconstruction of such improvements within 180 days of such damagethe Facility, Tenant shall have remain obligated to pay the right additional cost to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For repair or reconstruct the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedFacility.

Appears in 1 contract

Samples: Emeritus Corp\wa\

Damage by Fire or Other Casualty. If the Leased Premises Building shall be damaged or destroyed by fire or other casualty resulting from any faultto the extent of more than eighty percent (80%), negligencethen each party shall have the right to terminate this Lease. If this Lease is not terminated, or willful act of TenantLandlord shall, its agentswith all due diligence, employees or invitees, repair and reconstruct the Premises and the Building to the condition which existed prior to such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatementor destruction. If damage to the Building is less than eighty percent (80%) Landlord shall rebuild or repair the Building and any other improvements damaged as a result of the casualty. Landlord shall commence any repairs and replacements promptly, but in no event more than sixty (60) days after the last year casualty event, and shall diligently pursue such repairs and replacements to completion. If such rebuilding or repairs cannot be completed within 240 days from the date of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantablereasonably determined by Landlord's contractor, then, Landlord or then Tenant shall have the option to terminate this Lease by upon written notice delivered to Landlord within sixty (60) days after Tenant's receipt of any such determination and Tenant shall have sixty (60) days from the other party within date of said notice to vacate the Premises. Tenant shall be allowed an abatement of rent from the date of such damage or destruction: (i) up until the date Tenant actually vacates the Premises, if the Premises are not repaired and reconstructed, or (ii) until thirty (30) days following after the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to Landlord delivers the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially Tenant and Tenant accepts the same Premises as being in the condition existing prior as set forth in Exhibit C and C-l, if the Premises are to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding be repaired and reconstructed under the terms of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedLease.

Appears in 1 contract

Samples: Agreement (Community Financial Group Inc)

Damage by Fire or Other Casualty. If In the Leased event the Premises shall be damaged by fire fire, or other casualty resulting casualty, the Tenant shall give immediate notice thereof to the Landlord, and after such notice, an equitable reduction of rent shall be allowed the Tenant for the time such part or parts of Premises shall remain untenantable or incapable of use and occupancy, and this Lease shall continue in full force and effect, and the Landlord shall at its own expense, with reasonable promptness, subject to delays beyond Landlord’s control and delays in making of insurance adjustments by Landlord, repair the premises. If the damage results from any fault, negligence, the act or willful act omission of Tenant, its or Tenant’s agents, employees or invitees, such damage Tenant shall, at its own expense, with reasonable promptness, repair the Premises, and Tenant shall not be entitled to any abatement or reduction of rent. Landlord need not restore fixtures and improvements owned by Tenant. In the event the Premises or the Building shall before or after the commencement of the term, be so damaged that the Landlord shall decide not to repair the same, or if the Landlord shall decide to demolish or rebuild the same, for any reason whatsoever, upon notice to Tenant, the term of this Lease shall cease and terminate, and the accrued rent, if any, shall be repaired by and at paid up to the expense time of Tenant under the direction and supervision damage or such termination. All proceeds of Landlord and rent shall continue without abatement. If in the last year insurance payable as a result of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make shall be the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions sole property of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedLandlord.

Appears in 1 contract

Samples: Agreement of Lease

Damage by Fire or Other Casualty. If the Leased Premises shall be damaged by fire or other casualty resulting from any fault, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following In the event of such damage, if -------------------------------- such damage can be repaired within sixty (60) days after it is determined that there are substantially sufficient insurance proceeds to repair the damage, then Landlord shall so repair the Leased Premises. If such damage cannot be repaired within that time, or destructionif there are insufficient insurance proceeds available to make such repairs, then Landlord shall elect whether to repair the Leased Premises or cancel this lease, and shall notify Tenant in which event neither party hereto shall thereafter have any further future obligations hereunderwriting of its election within sixty (60) days after the allowance of the claim for insurance proceeds. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord elects to repair the Leased Premises, the work or repair shall promptly begin promptly, and diligently shall be carried on without unnecessary delay. In the event Landlord or Tenant elects not to repair and restore the damaged Leased Premises, the lease shall be deemed canceled as of the date Landlord gives notice to Tenant as provided above. Such damage shall not extend the lease term. Tenant shall not be entitled to any damages by reason of any inconvenience or destroyed portions loss sustained by Tenant as a result of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that any portion thereof being untenantable while the Leased Premises were rendered untenantable is being repaired; unless such damages are caused by Landlord's gross negligence, or in the event Landlord elects to cancel the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedlease as provided above.

Appears in 1 contract

Samples: Retail Lease (Colorado Business Bankshares Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.