Common use of DAMAGE BY FIRE OR OTHER CAUSE Clause in Contracts

DAMAGE BY FIRE OR OTHER CAUSE. Section 10.01. If the Demised Premises, including, without limitation, access to the Demised Premises and any part of the Building that provides essential services to the Demised Premises shall be damaged by fire or other casualty in whole or in part, the damage shall be repaired by and at the expense of Landlord and the minimum rent and additional rent pursuant to the provisions of Article 22 until such repairs shall be made, shall be apportioned according to the part of the Demised Premises which is usable by Tenant. Landlord shall have no responsibility to repair any damage to Tenant's work (as referred to in Section 5.01), the same being the responsibility of Tenant. No penalty shall accrue for delays which may arise by reason of adjustment of insurance by Landlord, unavoidable delays (as hereinafter defined), or any other cause beyond Landlord's reasonable control. Tenant shall give notice to Landlord promptly upon learning thereof in case of fire or other damage to the Demised Premises. If the Building shall be so damaged that Landlord shall decide to demolish it or to rebuild it (whether or not the Demised Premises shall have been damaged), Landlord at its election may terminate this Lease by written notice to Tenant, within sixty (60) days after such fire or other casualty, and thereupon the term of this Lease shall expire by lapse of time upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Tenant shall not be liable under this Lease for anything accruing after the date of such expiration. However, if more than twenty-five (25%) percent of the rentable square feet of the Demised Premises shall be damaged during the last two (2) years of the term hereof, either Landlord or Tenant, at its election, may terminate this Lease by written notice to the other within sixty (60) days after such fire or other casualty, and thereupon this Lease shall end upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Notwithstanding the foregoing provisions of this Section 10.01, within sixty (60) days after such casualty, Landlord shall provide Tenant with an estimate as to the time reasonably required to repair such damage. If such period exceeds nine (9) months from the date of such casualty, Tenant may elect to terminate this Lease by notice to Landlord not later than ten (10) days following Tenant's receipt of such estimate, and thereupon the term of this Lease shall expire on the thirtieth (30th) day after Tenant's notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. If the time period set forth in said estimate exceeds nine (9) months and Tenant has not terminated this Lease and if Landlord does not substantially complete such repairs within the time period set forth in such estimate, then Tenant may elect to terminate this Lease by notice to Landlord within ten (10) days following the expiration of such time period, and thereupon the term of this Lease shall expire on the thirtieth (30th) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord, unless within such thirty (30) day period, Landlord substantially completes such restoration or rebuilding in which event this Lease shall remain in full force and effect. Tenant hereby waives the provisions of Section 227 of the Real Property Law, and the provisions of this Article shall govern and control in lieu thereof. If Landlord exercises its option to cancel, Landlord must also cancel all other similarly affected tenant leases in the Building, where Landlord has the right to do so.

Appears in 1 contract

Samples: Escala Group Inc

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DAMAGE BY FIRE OR OTHER CAUSE. Section 10.01. 13.1 If the Demised Premises, including, without limitation, access to Building or the Demised Premises and any part of the Building that provides essential services to the Demised Premises demised premises shall be partially or totally damaged or destroyed by fire or other casualty in whole or in part, the damage shall be repaired by and at the expense of Landlord and the minimum rent and additional rent pursuant to the provisions of Article 22 until such repairs shall be made, shall be apportioned according to the part of the Demised Premises which is usable by Tenant. Landlord shall have no responsibility to repair any damage to Tenant's work (as referred to in Section 5.01), the same being the responsibility of Tenant. No penalty shall accrue for delays which may arise by reason of adjustment of insurance by Landlord, unavoidable delays (as hereinafter defined), or any other cause beyond Landlord's reasonable control. Tenant shall give notice to Landlord promptly upon learning thereof in case of fire or other damage to the Demised Premises. If the Building shall be so damaged that Landlord shall decide to demolish it or to rebuild it (whether or not the Demised Premises shall have been damaged), Landlord at its election may terminate this Lease by written notice to Tenantcause, within sixty forty-five (6045) days after such fire or other casualty, and thereupon the term of this Lease shall expire by lapse of time upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Tenant shall not be liable under this Lease for anything accruing after the date Landlord acquires knowledge of such expiration. However, if more than twenty-five (25%) percent of the rentable square feet of the Demised Premises shall be damaged during the last two (2) years of the term hereof, either Landlord or Tenant, at its election, may terminate this Lease by written notice to the other within sixty (60) days after such fire or other casualty, and thereupon this Lease shall end upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Notwithstanding the foregoing provisions of this Section 10.01, within sixty (60) days after such casualtydamage, Landlord shall provide deliver to Tenant with an estimate prepared by a reputable contractor selected by Landlord setting forth such contractor's estimate as to the reasonable time reasonably required to repair such damage. If the demised premises are damaged or destroyed or if they are not but the building is 36 damaged, which damage materially adversely affects Tenant's access to the demised premises, and the time period set forth in such period estimate exceeds nine three hundred and sixty (9360) months from the date of such casualtydays, Tenant may elect to terminate this Lease by notice to Landlord not later than ten fifteen (1015) days following Tenant's receipt the delivery of such estimateestimate to Tenant. If Tenant makes such election, and thereupon the term of this Lease Term shall expire on upon the thirtieth twentieth (30th20th) day after Tenant's notice of such election is given, given by Tenant and Tenant shall vacate the demised premises and surrender the Demised Premises same to Landlord. Upon such termination, Tenant's liability for fixed annual rent and additional rent shall cease as of the day following such damage and any prepaid portion thereof for any period after such date shall be refunded by Landlord to Tenant. If (x) the time period estimate does not exceed three hundred and sixty (360) days, or (y) Tenant fails to make its election as set forth hereinabove in said estimate exceeds nine (9) months and Tenant has not terminated this Lease paragraph, and if Landlord does not substantially complete such repairs within make the time period set forth in such estimate, then Tenant may elect to terminate this Lease by notice to Landlord within ten election under Section 13.3 (10) days following the expiration of such time period, and thereupon the term of this Lease shall expire on the thirtieth (30th) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord, unless within such thirty (30) day periodif applicable), Landlord substantially completes such restoration or rebuilding in which event this Lease shall remain in full force repair the damage and effect. Tenant hereby waives restore and rebuild the provisions Building and/or the demised premises, at its expense (without limiting the rights of Section 227 of the Real Property Law, and the Landlord under any other provisions of this Article Lease); provided, however, that Landlord shall govern and control in lieu thereof. If Landlord exercises its option not be required to cancelrepair or replace any of Tenant's property, Landlord must also cancel all other similarly affected tenant leases in the Buildingimprovements, where Landlord has the right to do sobetterments or Alterations.

Appears in 1 contract

Samples: Agreement of Lease (Interliant Inc)

DAMAGE BY FIRE OR OTHER CAUSE. Section 10.01. 15.1 If the Demised PremisesBuilding or the Project, or any portion of the Building or the Project (including, without limitation, access the Parking Facility), is damaged or destroyed by any casualty, and Landlord’s Repair Notice given in accordance with Section 15.7 below states that (a) the damage or destruction to the Demised Premises Building cannot be repaired within three hundred thirty (330) days after the date of Tenant’s receipt of Landlord’s Repair Notice, or (b) the aggregate proceeds, exclusive of any deductibles, received by Landlord from insurance carried by Landlord (with respect to the Building and the Project), and delivered or assigned to Landlord by Tenant (with respect to the Leasehold Improvements), or which would have been received by Landlord had Landlord carried the insurance required thereof pursuant to Section 14.2 of this Lease, and which remain after any part required payment therefrom to any mortgagee of Landlord holding a security interest in the Building or the Project, are insufficient to cover the cost of repairing such damage or destruction, Landlord shall have the right, at Landlord’s option, to terminate this Lease (provided that as a condition precedent to any such termination, Landlord shall have terminated the leases of all other tenants of the Building that provides essential services to the Demised Premises shall be damaged by fire or other casualty in whole or in part, the damage shall be repaired by and at the expense of Landlord and the minimum rent and additional rent pursuant to the provisions of Article 22 until such repairs shall be made, shall be apportioned according to the part of the Demised Premises which is usable by TenantBuilding). Landlord shall have no responsibility exercise such termination right by giving Tenant written notice of such termination within forty-five (4) days after the date Landlord learns of the necessity for repairs as a result of such damage or destruction. Notwithstanding any termination by Landlord of this Lease pursuant to repair any damage to Tenant's work (as referred to in Section 5.01)15.1(b) above, the same being the responsibility of Tenant. No penalty shall accrue for delays which may arise by reason of adjustment of insurance by Landlord, unavoidable delays (as hereinafter defined), or any other cause beyond Landlord's reasonable control. Tenant shall give notice have the right to Landlord promptly upon learning thereof in case of fire or other damage to the Demised Premises. If the Building shall be so damaged that Landlord shall decide to demolish it or to rebuild it (whether or not the Demised Premises shall have been damaged), Landlord at its election may terminate this Lease nullify any such termination by written notice to Tenant, Landlord delivered within sixty thirty (6030) days after such fire or other casualtyof Tenant’s receipt of Landlord’s termination notice, and thereupon the term of this Lease shall expire by lapse of time upon the third (3rd) day after such notice is given, and in which event Tenant shall vacate and surrender the Demised Premises be obligated to pay to Landlord. Tenant shall not be liable under this Lease for anything accruing after the date of such expiration. However, if more than twenty-five (25%) percent of the rentable square feet of the Demised Premises shall be damaged during the last two (2) years of the term hereof, either Landlord on or Tenant, at its election, may terminate this Lease by written notice to the other within sixty (60) days after such fire or other casualty, and thereupon this Lease shall end upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Notwithstanding the foregoing provisions of this Section 10.01, within sixty (60) days after such casualty, Landlord shall provide Tenant with an estimate as to the time reasonably required to repair such damage. If such period exceeds nine (9) months from the date of such casualty, Tenant may elect to terminate this Lease by notice to Landlord not later than ten (10) days following Tenant's receipt of such estimate, and thereupon the term of this Lease shall expire on the thirtieth (30th) day after Tenant's notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. If the time period set forth in said estimate exceeds nine (9) months and Tenant has not terminated this Lease and if Landlord does not substantially complete such repairs within the time period set forth in such estimate, then Tenant may elect to terminate this Lease by notice to Landlord within ten (10) days following before the expiration of such time period, and thereupon the term of this Lease shall expire on the thirtieth (30th) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord, unless within such thirty (30) day period, the positive difference, if any, between (A) the total costs required to repair such damage or destruction (or Landlord’s reasonably anticipated total cost of such repair work), less any applicable deductible amounts in the insurance policies carried by Landlord substantially completes with respect to such restoration damage or rebuilding in destruction, and (B) the amount of insurance proceeds actually received by Landlord (or reasonably anticipated to be received by Landlord), including, without limitation, any insurance proceeds pertaining to the Leasehold Improvements which event this Lease shall remain in full force and effect. Tenant hereby waives the provisions of Section 227 of the Real Property Laware delivered or assigned to Landlord by Tenant, and the provisions amount of this Article shall govern and control in lieu thereof. If insurance proceeds actually received by Landlord exercises its option (or reasonably anticipated to cancelbe received by Landlord), including, without limitation, any insurance proceeds pertaining to the Leasehold Improvements which are delivered or assigned to Landlord by Tenant, and, subject to Tenant’s paying the aforesaid amount(s) to Landlord, Landlord must also cancel all other similarly affected tenant leases shall promptly and diligently rebuild and restore the Building and the Premises to the condition existing immediately prior to said casualty. Tenant shall, within thirty (30) days of Landlord’s presentation to Tenant of a reasonably particularized invoice, pay to Landlord the positive difference, if any, between the total actual cost to repair such damage and destruction (less any applicable deductible amounts in the Buildinginsurance policies carried by Landlord with respect to such damage or destruction), where and the sum of (i) the insurance proceeds actually received by Landlord has (including insurance proceeds assigned to Landlord by Tenant pursuant to Section 15.8 below) and (ii) the right funds previously provided by Tenant to do soLandlord for such repair work. Any amounts paid by Tenant to Landlord pursuant to this Section 15.1 shall, at Tenant’s sole cost and expense, be held by Landlord in an appropriate escrow account, with any interest earned thereon accruing for the benefit of Tenant, and shall be used exclusively by Landlord for the repair or restoration of the Leasehold Improvements. Landlord shall be obligated to promptly refund to Tenant any amounts paid by Tenant pursuant thereto in excess of the difference between (i) the actual cost incurred by Landlord in repairing or restoring the Leasehold Improvements (less any applicable deductible amounts in the insurance policies carried by Landlord with respect to such damage or destruction), and (ii) the amount of insurance proceeds actually received by Landlord (including insurance proceeds assigned to Landlord pursuant to Section 15.8 below) on account of the subject damage or destruction.

Appears in 1 contract

Samples: Lease (Celladon Corp)

DAMAGE BY FIRE OR OTHER CAUSE. Section 10.01. 13.1 If the Demised Premises, including, without limitation, access to Building or the Demised Premises and any part of the Building that provides essential services to the Demised Premises demised premises shall be partially or totally damaged or destroyed by fire or other casualty in whole or in part, the damage shall be repaired by and at the expense of Landlord and the minimum rent and additional rent pursuant to the provisions of Article 22 until such repairs shall be made, shall be apportioned according to the part of the Demised Premises which is usable by Tenant. Landlord shall have no responsibility to repair any damage to Tenant's work (as referred to in Section 5.01), the same being the responsibility of Tenant. No penalty shall accrue for delays which may arise by reason of adjustment of insurance by Landlord, unavoidable delays (as hereinafter defined), or any other cause beyond Landlord's reasonable control. Tenant shall give notice to Landlord promptly upon learning thereof in case of fire or other damage to the Demised Premises. If the Building shall be so damaged that Landlord shall decide to demolish it or to rebuild it (whether or not the Demised Premises shall have been damaged), Landlord at its election may terminate this Lease by written notice to Tenantcause, within sixty forty-five (6045) days after such fire or other casualty, and thereupon the term of this Lease shall expire by lapse of time upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Tenant shall not be liable under this Lease for anything accruing after the date Landlord acquires knowledge of such expiration. However, if more than twenty-five (25%) percent of the rentable square feet of the Demised Premises shall be damaged during the last two (2) years of the term hereof, either Landlord or Tenant, at its election, may terminate this Lease by written notice to the other within sixty (60) days after such fire or other casualty, and thereupon this Lease shall end upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Notwithstanding the foregoing provisions of this Section 10.01, within sixty (60) days after such casualtydamage, Landlord shall provide deliver to Tenant with an estimate prepared by a reputable contractor selected by Landlord setting forth such contractor's estimate as to the reasonable time reasonably required to repair such damage. If the demised premises are damaged or destroyed or if they are not but the building is damaged, which damage materially adversely affects Tenant's access to the demised premises, and the time period set forth in such period estimate exceeds nine three hundred and sixty (9360) months from the date of such casualtydays, Tenant may elect to terminate this Lease by notice to Landlord not later than ten fifteen (1015) days following Tenant's receipt the delivery of such estimateestimate to Tenant. If Tenant makes such election, and thereupon the term of this Lease Term shall expire on upon the thirtieth twentieth (30th20th) day after Tenant's notice of such election is given, given by Tenant and Tenant shall vacate the demised premises and 38 surrender the Demised Premises same to Landlord. Upon such termination, Tenant's liability for fixed annual rent and additional rent shall cease as of the day following such damage and any prepaid portion thereof for any period after such date shall be refunded by Landlord to Tenant. If (x) the time period estimate does not exceed three hundred and sixty (360) days, or (y) Tenant fails to make its election as set forth hereinabove in said estimate exceeds nine (9) months and Tenant has not terminated this Lease paragraph, and if Landlord does not substantially complete such repairs within make the time period set forth in such estimate, then Tenant may elect to terminate this Lease by notice to Landlord within ten election under Section 13.3 (10) days following the expiration of such time period, and thereupon the term of this Lease shall expire on the thirtieth (30th) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord, unless within such thirty (30) day periodif applicable), Landlord substantially completes such restoration or rebuilding in which event this Lease shall remain in full force repair the damage and effect. Tenant hereby waives restore and rebuild the provisions Building and/or the demised premises, at its expense (without limiting the rights of Section 227 of the Real Property Law, and the Landlord under any other provisions of this Article Lease); provided, however, that Landlord shall govern and control in lieu thereof. If Landlord exercises its option not be required to cancelrepair or replace any of Tenant's property, Landlord must also cancel all other similarly affected tenant leases in the Buildingimprovements, where Landlord has the right to do sobetterments or Alterations.

Appears in 1 contract

Samples: Agreement of Lease (Interliant Inc)

DAMAGE BY FIRE OR OTHER CAUSE. Section 10.01. 13.1 If the Demised Premises, including, without limitation, access to Building or the Demised Premises and any part of the Building that provides essential services to the Demised Premises demised premises shall be partially or totally damaged or destroyed by fire or other casualty in whole or in part, the damage shall be repaired by and at the expense of Landlord and the minimum rent and additional rent pursuant to the provisions of Article 22 until such repairs shall be made, shall be apportioned according to the part of the Demised Premises which is usable by Tenant. Landlord shall have no responsibility to repair any damage to Tenant's work (as referred to in Section 5.01), the same being the responsibility of Tenant. No penalty shall accrue for delays which may arise by reason of adjustment of insurance by Landlord, unavoidable delays (as hereinafter defined), or any other cause beyond Landlord's reasonable control. Tenant shall give notice to Landlord promptly upon learning thereof in case of fire or other damage to the Demised Premises. If the Building shall be so damaged that Landlord shall decide to demolish it or to rebuild it (whether or not the Demised Premises shall have been damaged), Landlord at its election may terminate this Lease by written notice to Tenantcause, within sixty forty-five (6045) days after such fire or other casualty, and thereupon the term of this Lease shall expire by lapse of time upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Tenant shall not be liable under this Lease for anything accruing after the date Landlord acquires knowledge of such expiration. However, if more than twenty-five (25%) percent of the rentable square feet of the Demised Premises shall be damaged during the last two (2) years of the term hereof, either Landlord or Tenant, at its election, may terminate this Lease by written notice to the other within sixty (60) days after such fire or other casualty, and thereupon this Lease shall end upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Notwithstanding the foregoing provisions of this Section 10.01, within sixty (60) days after such casualtydamage, Landlord shall provide deliver to Tenant with an estimate prepared by a reputable contractor selected by Landlord setting forth such contractor's estimate as to the reasonable time reasonably required to repair such damage. If the demised premises are damaged or destroyed or if they are not but the building is damaged, which damage materially adversely affects Tenant's access to the demised premises, and the time period set forth in 38 such period estimate exceeds nine three hundred and sixty (9360) months from the date of such casualtydays, Tenant may elect to terminate this Lease by notice to Landlord not later than ten fifteen (1015) days following Tenant's receipt the delivery of such estimateestimate to Tenant. If Tenant makes such election, and thereupon the term of this Lease Term shall expire on upon the thirtieth twentieth (30th20th) day after Tenant's notice of such election is given, given by Tenant and Tenant shall vacate the demised premises and surrender the Demised Premises same to Landlord. Upon such termination, Tenant's liability for fixed annual rent and additional rent shall cease as of the day following such damage and any prepaid portion thereof for any period after such date shall be refunded by Landlord to Tenant. If (x) the time period estimate does not exceed three hundred and sixty (360) days, or (y) Tenant fails to make its election as set forth hereinabove in said estimate exceeds nine (9) months and Tenant has not terminated this Lease paragraph, and if Landlord does not substantially complete such repairs within make the time period set forth in such estimate, then Tenant may elect to terminate this Lease by notice to Landlord within ten election under Section 13.3 (10) days following the expiration of such time period, and thereupon the term of this Lease shall expire on the thirtieth (30th) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord, unless within such thirty (30) day periodif applicable), Landlord substantially completes such restoration or rebuilding in which event this Lease shall remain in full force repair the damage and effect. Tenant hereby waives restore and rebuild the provisions Building and/or the demised premises, at its expense (without limiting the rights of Section 227 of the Real Property Law, and the Landlord under any other provisions of this Article Lease); provided, however, that Landlord shall govern and control in lieu thereof. If Landlord exercises its option not be required to cancelrepair or replace any of Tenant's property, Landlord must also cancel all other similarly affected tenant leases in the Buildingimprovements, where Landlord has the right to do sobetterments or Alterations.

Appears in 1 contract

Samples: Interliant Inc

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DAMAGE BY FIRE OR OTHER CAUSE. Section 10.01. 13.1 If the Demised Premises, including, without limitation, access to A/B Building or the Demised Premises and any part of the Building that provides essential services to the Demised Premises demised premises shall be partially or totally damaged or destroyed by fire or other casualty in whole or in part, the damage shall be repaired by and at the expense of Landlord and the minimum rent and additional rent pursuant to the provisions of Article 22 until such repairs shall be made, shall be apportioned according to the part of the Demised Premises which is usable by Tenant. Landlord shall have no responsibility to repair any damage to Tenant's work (as referred to in Section 5.01), the same being the responsibility of Tenant. No penalty shall accrue for delays which may arise by reason of adjustment of insurance by Landlord, unavoidable delays (as hereinafter defined), or any other cause beyond Landlord's reasonable control. Tenant shall give notice to Landlord promptly upon learning thereof in case of fire or other damage to the Demised Premises. If the Building shall be so damaged that Landlord shall decide to demolish it or to rebuild it (whether or not the Demised Premises shall have been damaged), Landlord at its election may terminate this Lease by written notice to Tenantcause, within sixty forty-five (6045) days after such fire or other casualty, and thereupon the term of this Lease shall expire by lapse of time upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Tenant shall not be liable under this Lease for anything accruing after the date Landlord has had knowledge of such expiration. However, if more than twenty-five (25%) percent of the rentable square feet of the Demised Premises shall be damaged during the last two (2) years of the term hereof, either Landlord or Tenant, at its election, may terminate this Lease by written notice to the other within sixty (60) days after such fire or other casualty, and thereupon this Lease shall end upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Notwithstanding the foregoing provisions of this Section 10.01, within sixty (60) days after such casualtydamage, Landlord shall provide deliver to Tenant with an estimate prepared by a reputable contractor selected by Landlord setting forth such contractor's estimate as to the reasonable time reasonably required to repair such damage. If the time period set forth in such period estimate exceeds nine one hundred eighty (9180) months from the date of such casualtydays, Tenant may elect to terminate this Lease by notice to Landlord not later than ten fifteen (1015) days following Tenant's receipt the delivery of such estimateestimate to Tenant. If Tenant makes such election, and thereupon the term of this Lease Term shall expire on upon the thirtieth twentieth (30th20th) day after Tenant's notice of such election is given, given by Tenant and Tenant shall vacate the demised premises and surrender the Demised Premises same to Landlord. Upon such termination, Tenant's liability for fixed annual rent and additional rent shall cease as of the day following such damage and any prepaid portion thereof for any period after such date shall be refunded by Landlord to Tenant. If (x) the time period estimate does not exceed one hundred eighty (180) days, or (y) Tenant fails to make its election as set forth hereinabove in said estimate exceeds nine (9) months and Tenant has not terminated this Lease paragraph, and if Landlord does not substantially complete such repairs within make the time period set forth in such estimateelection under Section 13.3 (if applicable), then Tenant may elect to terminate this Lease by notice to Landlord within ten shall repair the damage and restore and rebuild the A/B Building and/or the demised premises, at its expense (10) days following without limiting the expiration rights of such time period, and thereupon the term Landlord under any other provisions of this Lease Lease); provided, however, that Landlord shall expire on the thirtieth (30th) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises not be required to Landlord, unless within such thirty (30) day period, Landlord substantially completes such restoration repair or rebuilding in which event this Lease shall remain in full force and effectreplace any of Tenant's property. Tenant hereby waives the The provisions of Section 227 of the Real Property Law, and Article 34 shall not apply to the provisions of this Article shall govern and control in lieu thereof. If Landlord exercises its option to cancel, Landlord must also cancel all other similarly affected tenant leases in the Building, where Landlord has the right to do so13.

Appears in 1 contract

Samples: Interliant Inc

DAMAGE BY FIRE OR OTHER CAUSE. Section 10.01. 13.1 If the Demised Premises, including, without limitation, access to Building or the Demised Premises and any part of the Building that provides essential services to the Demised Premises demised premises shall be partially or totally damaged or destroyed by fire or other casualty in whole or in part, the damage shall be repaired by and at the expense of Landlord and the minimum rent and additional rent pursuant to the provisions of Article 22 until such repairs shall be made, shall be apportioned according to the part of the Demised Premises which is usable by Tenant. Landlord shall have no responsibility to repair any damage to Tenant's work (as referred to in Section 5.01), the same being the responsibility of Tenant. No penalty shall accrue for delays which may arise by reason of adjustment of insurance by Landlord, unavoidable delays (as hereinafter defined), or any other cause beyond Landlord's reasonable control. Tenant shall give notice to Landlord promptly upon learning thereof in case of fire or other damage to the Demised Premises. If the Building shall be so damaged that Landlord shall decide to demolish it or to rebuild it (whether or not the Demised Premises shall have been damaged), Landlord at its election may terminate this Lease by written notice to Tenantcause, within sixty forty-five (6045) days after such fire or other casualty, and thereupon the term of this Lease shall expire by lapse of time upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Tenant shall not be liable under this Lease for anything accruing after the date Landlord acquires knowledge of such expiration. However, if more than twenty-five (25%) percent of the rentable square feet of the Demised Premises shall be damaged during the last two (2) years of the term hereof, either Landlord or Tenant, at its election, may terminate this Lease by written notice to the other within sixty (60) days after such fire or other casualty, and thereupon this Lease shall end upon the third (3rd) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord. Notwithstanding the foregoing provisions of this Section 10.01, within sixty (60) days after such casualtydamage, Landlord shall provide deliver to Tenant with an estimate prepared by a reputable contractor selected by Landlord setting forth such contractor's estimate as to the reasonable time reasonably required to repair such damage. If the demised premises are damaged or destroyed or if they are not but the building is damaged, which damage materially adversely affects Tenant's access to the demised premises, and the time period set forth in such period estimate exceeds nine three hundred and sixty (9360) months from the date of such casualtydays, Tenant may elect to terminate this Lease by notice to Landlord not later than ten fifteen (1015) days following Tenant's receipt the delivery of such estimateestimate to Tenant. If Tenant makes such election, and thereupon the term of this Lease Term shall expire on upon the thirtieth twentieth (30th20th) day after Tenant's notice of such election is given, given by Tenant and Tenant shall vacate the demised premises and surrender the Demised Premises same to Landlord. Upon such termination, Tenant's liability for fixed annual rent and additional rent shall cease as of the day following such damage and any prepaid portion thereof for any period after such date shall be refunded by Landlord to Tenant. If (x) the time period estimate does not exceed three hundred and sixty (360) days, or (y) Tenant fails to make its election as set forth hereinabove in said estimate exceeds nine (9) months and Tenant has not terminated this Lease paragraph, and if Landlord does not substantially complete such repairs within make the time period set forth in such estimate, then Tenant may elect to terminate this Lease by notice to Landlord within ten election under Section 13.3 (10) days following the expiration of such time period, and thereupon the term of this Lease shall expire on the thirtieth (30th) day after such notice is given, and Tenant shall vacate and surrender the Demised Premises to Landlord, unless within such thirty (30) day periodif applicable), Landlord substantially completes such restoration or rebuilding in which event this Lease shall remain in full force repair the damage and effect. Tenant hereby waives restore and rebuild the provisions Building and/or the demised premises, at its expense (without limiting the rights of Section 227 of the Real Property Law, and the Landlord under any other provisions of this Article Lease); provided, however, that Landlord shall govern and control in lieu thereof. If Landlord exercises its option not be required to cancelrepair or replace any of Tenant's property, Landlord must also cancel all other similarly affected tenant leases in the Buildingimprovements, where Landlord has the right to do sobetterments or Alterations.

Appears in 1 contract

Samples: Interliant Inc

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