Destruction by Fire or Other Casualty. If the whole of the Demised Premises is totally destroyed or damaged by fire or other casualty (“Casualty”), or destroyed or damaged by Casualty to such an extent that they are wholly or substantially unsuitable or untenantable for use for the purpose for which they are leased (“Total Casualty”), then from the date of such damage or destruction the rent shall axxxx fully until such time as Landlord fully repairs and restores the Demised Premises to its layout and condition immediately prior to the Casualty as reasonably certified by the Human Resources Administration. Either party may terminate this Lease by notice to the other within thirty (30) days from the date of the Total Casualty. If no such notice is given, Landlord shall, within ninety (90) days after receipt of insurance proceeds, commence and diligently proceed with continuity to complete the repairs and restoration of the Demised Premises to their layout and condition prior to said Total Casualty. If Landlord fails to commence said repairs and restoration as above provided, or complete the same within one hundred and eighty (180) days after such commencement, Tenant may terminate this Lease on forty-five (45) days written notice or, in addition to any other remedy it may have, may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or that may become due and payable under this Lease. If the Demised Premises are partially damaged by Casualty, to the extent of less than a Total Casualty (“Partial Casualty”), Landlord shall, within ninety (90) days after receipt of applicable insurance proceeds, commence and diligently proceed to complete the repairs and restoration of the Demised Premises to their layout and condition prior to said Partial Casualty. If Landlord fails to commence as aforesaid or to complete the same within one hundred and twenty (120) days after such commencement, Tenant, in addition to any other remedy it may have, may terminate this Lease by giving Landlord forty-five (45) days written notice or may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or which may become due under this Lease. From the date of such damage to the date of substantial completion of such repairs and restoration of the Partial Casualty as reasonably certified by the Human Resources Administration in writing, Tenant shall pay rent for that part of the premises it is using during the alterations and repairs on a square foot basis in an amount equal to the product of the dollar amount of rent per square foot payable on such date and the number of square feet being occupied by Tenant.
Appears in 2 contracts
Samples: Lease Renewal and Amendment Agreement (Clipper Realty Inc.), Agreement of Lease (Clipper Realty Inc.)
Destruction by Fire or Other Casualty. Section 15.01 (a) If the whole of the Demised Premises or a portion thereof is totally destroyed or damaged by fire or other casualty (“Casualty”)casualty, or destroyed or damaged by Casualty to such an extent that they are wholly or substantially unsuitable or untenantable for use for the purpose for which they are leased (“Total Casualty”)leased, then from the date of such damage or destruction the rent shall axxxx fully be reduced in the proportion which the area of the part of the Demised Premises which is not usable by Tenant for the purposes permitted herein bears to the total area of the Demised Premises immediately prior to such damage until such time as Landlord fully repairs and restores the Demised Premises same to its layout substantially suitable and tenantable condition immediately prior to the Casualty as reasonably certified by the Human Resources Administration. Either party may terminate this Lease by notice to occupying agencies and D&PM, acting reasonably, which approval shall not be unreasonably withheld if the other within thirty (30) days from plans and specifications, in D&PM’s and the date of the Total Casualty. If no such notice is givenoccupying agency’s reasonable opinion, Landlord shall, within ninety (90) days after receipt of insurance proceeds, commence and diligently proceed with continuity to complete the repairs and specify restoration of the Demised Premises to their layout the substantially similar condition (including Landlord’s Work and condition Tenant Work that were already complete in accordance with the terms of this Lease prior to said Total Casualtythe casualty) as prior to the casualty. If Landlord fails to commence said repairs and restoration as above provided, or complete the same within one hundred and eighty (180) days after such commencement, Tenant may terminate this Lease on forty-shall have forty- five (45) days written notice or, in addition (during the first thirty (30) days of which period no rent shall be due to any other remedy it may have, may perform such repairs and restoration and reimburse itself for Landlord unless Tenant actually moves into the reasonable cost thereof from any rent due or that may become due and payable under this Lease. If Demised Premises) to move into the Demised Premises are partially damaged by Casualty, to the extent of less than a Total Casualty (“Partial Casualty”), Landlord shall, within ninety (90) days after receipt of applicable insurance proceeds, commence and diligently proceed to complete having been notified that the repairs and restoration of the Demised Premises to their layout and condition have been completed by Landlord. At least seven (7) business days prior to said Partial Casualtycompletion, Landlord shall notify Tenant of same. If Landlord fails to commence as aforesaid or to complete In the same within one hundred and twenty (120) days after such commencement, Tenant, in addition to any other remedy it may have, may terminate this Lease by giving Landlord forty-five (45) days written notice or may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or which may become due under this Lease. From the date of such damage to the date of substantial completion of such repairs and restoration of the Partial Casualty as reasonably certified by the Human Resources Administration in writing, Tenant shall pay rent for event that part of the premises it is using during the alterations and repairs on a square foot basis in an amount equal to the product of the dollar amount of rent per square foot payable on such date D&PM and the number of square feet being occupied by Tenantoccupying agency do not agree with Landlord that the repairs are complete, the parties shall submit their dispute to expedited arbitration in accordance with the procedures set forth in Subsection 6A.13 (b) hereof within such seven (7) business day period.
Appears in 2 contracts
Samples: Lease Between (Clipper Realty Inc.), Lease Between (Clipper Realty Inc.)
Destruction by Fire or Other Casualty. If the whole of the Demised Premises is totally destroyed or damaged by fire or other casualty (“Casualty”)casualty, or destroyed or damaged by Casualty to such an extent that they are wholly or substantially unsuitable or untenantable for use for the purpose for which they are leased (“Total Casualty”)leased, then from the date of such damage or destruction destmction the rent Rent shall axxxx fully cease until such time as Landlord fully repairs and restores the same to suitable and tenantable condition and D&PM certifies in writing that the entire Demised Premises to its layout and condition immediately prior to the Casualty as reasonably certified have been re-occupied by the Human Resources AdministrationTenant. Either party may terminate this Lease by notice to the other within thirty thilty (30) days from the date of the Total Casualtysuch fire or other casualty. If no such notice is given, Landlord shall, within ninety sixty (9060) days after such fire or other casualty and the receipt of insurance proceeds, commence and diligently proceed with continuity to complete the repairs and restoration of the Demised Premises to their layout and condition condition, prior to said Total Casualtyfire or casualty, suitable for use for the purpose for which the Demised Premises were leased, provided, however, that Landlord shall have no obligation to restore any of Tenant's furniture or other personal property or any alterations made to the Demised Premises by or on behalf of Tenant. If Landlord fails to commence said repairs and restoration as above provided, or complete the same within one tln-ee hundred and eighty sixty five (180365) days after such commencement, subject to Unavoidable Delays, Tenant may terminate this Lease on forty-five thirty (4530) days days' written notice or, in addition to any other remedy it may have, may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent Rent due or that may become due and payable under this Lease. If the Demised Premises are partially pmiially damaged by Casualty, to the extent of less than a Total Casualty (“Partial Casualty”)fire or other casualty, Landlord shall, within ninety forty-five (9045) days after such fire or other casualty and the receipt of applicable insurance proceeds, commence and diligently proceed to complete the repairs and restoration of the Demised Premises to their layout and condition prior to said Partial Casualtyfire or casualty. If Landlord fails to commence commence, as aforesaid aforesaid, or to complete the same within one hundred and twenty eighty (120180) days after such commencement, subject to Unavoidable Delays, Tenant, in addition to any other remedy it may have, may terminate this Lease by giving Landlord forty-five ten (4510) days days' written notice or may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent Rent due or which may become due under this Lease. From the date of such damage to the date of substantial completion of such repairs and restoration of ce1iified by D&PM in writing that the Partial Casualty as reasonably certified entire Demised Premises have been re-occupied by the Human Resources Administration in writingTenant, Tenant shall pay rent Rent for that part of the premises Demised Premises it is using during the alterations and repairs on a square squm·e foot basis in an amount equal to the product of the dollar amount of rent Rent per square foot payable on such date and the number of square feet being occupied by Tenant.
Appears in 1 contract
Destruction by Fire or Other Casualty. If 10.01 In the whole of event the Demised Premises is totally are hereafter damaged or destroyed or damaged rendered partially untenantable for their accustomed uses by fire or other casualty insured under the coverage which Landlord is obligated to carry pursuant to Article 6, then Landlord shall promptly repair said premises and restore the same to substantially the condition in which they were immediately prior to the happening of such casualty (“Casualty”excluding wall; and floor covering), or destroyed or damaged by Casualty to such an extent that they are wholly or substantially unsuitable or untenantable for use for the purpose for which they are leased (“Total Casualty”), then and from the date of such damage or destruction the rent shall axxxx fully casualty until such time as Landlord fully repairs and restores the Demised Premises to its layout are so repaired and condition immediately prior restored, annual rental payments and all other charges and items of additional rental payable hereunder, shall xxxxx in such proportion as the part of the Demised Premises thus destroyed or rendered untenantable bears to the Casualty total Demised Premises, provided Tenant may elect to terminate if Tenant will not be either (i) furnished reasonably suitable substitute space or (ii) be restored to possession of Demised Premises within sixty (60) days after the date of destruction. If Landlord elects not to repair then this Lease shall terminate as reasonably certified of the date of destruction. In the event fifty (50%) per cent or more of the Demised Premises be hereafter destroyed or rendered untenantable by fire or other casualty during the Human Resources Administration. Either party may last year of the term of this Lease, then Landlord or Tenant shall have the right to terminate this Lease effective as of the date of such casualty, by notice giving to the other party hereto, within thirty (30) days after the happening of such casualty, written notice of such termination. If said notice be given within said thirty (30) day period, this Lease shall terminate and annual rental and all other charges and items of additional rental shall xxxxx as aforesaid from the happening of such casualty, and Landlord shall promptly repay to Tenant any rental theretofore paid in advance which has not been earned as the date of such casualty. Except as herein expressly provided to the Total Casualtycontrary, this Lease shall not terminate nor shall there be any abatement of rent or other charges or items of additional rent as the result of a fire or other casualty. If no such notice is given, Landlord shall, within ninety (90) days after receipt of insurance proceeds, commence and diligently proceed with continuity to complete the repairs and restoration In determining what constitutes prompt repair of the Demised Premises consideration shall be given to their layout the delays caused by strikes, adjustment of insurance and condition prior other causes beyond Landlord's control. Notwithstanding anything to said Total Casualty. If the contrary contained in this Article, should Landlord fails be delayed or prevented from completing the repair or restoration of the damage to the Demised Premises after the occurrence of such damage or destruction by reason of acts of God or war, governmental restrictions, inability to procure the necessary labor or materials, strikes, or other uses beyond the control of Landlord, the time for Landlord to commence said or complete repairs and restoration as above shall be extended, provided, at the election of Landlord or complete the same within one hundred Tenant, Landlord shall be relieved of its obligation to make such repairs or restoration and eighty (180) days after such commencement, Tenant may terminate shall be released from its obligation under this Lease on forty-five as of the end of four (454) days written notice ormonths from date of destruction, in addition if repairs required to any other remedy it may have, may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or that may become due and payable under this Lease. If provide Tenant use of the Demised Premises are partially damaged not then substantially complete. Any such election shall be by Casualty, written notice delivered to the extent of less than a Total Casualty (“Partial Casualty”), Landlord shall, within ninety (90) days after receipt of applicable insurance proceeds, commence and diligently proceed to complete the repairs and restoration of the Demised Premises to their layout and condition prior to said Partial Casualty. If Landlord fails to commence as aforesaid or to complete the same within one hundred and twenty (120) days after such commencement, Tenant, in addition to any other remedy it may have, may terminate this Lease by giving Landlord forty-five (45) days written notice or may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or which may become due under this Lease. From the date of such damage to the date of substantial completion of such repairs and restoration of the Partial Casualty as reasonably certified by the Human Resources Administration in writing, Tenant shall pay rent for that part of the premises it is using during the alterations and repairs on a square foot basis in an amount equal to the product of the dollar amount of rent per square foot payable on such date and the number of square feet being occupied by Tenantparty.
Appears in 1 contract
Destruction by Fire or Other Casualty. If the whole of the Demised Premises is totally destroyed or damaged by fire or other casualty (“Casualty”), or destroyed or damaged by Casualty to such an extent that they are wholly or substantially unsuitable or untenantable for use for the purpose for which they are leased (“Total Casualty”), then from the date of such damage or destruction the rent shall axxxx xxxxx fully until such time as Landlord fully repairs and restores the Demised Premises to its layout and condition immediately prior to the Casualty as reasonably certified by the Human Resources Administration. Either party may terminate this Lease by notice to the other within thirty (30) days from the date of the Total Casualty. If no such notice is given, Landlord shall, within ninety (90) days after receipt of insurance proceeds, commence and diligently proceed with continuity to complete the repairs and restoration of the Demised Premises to their layout and condition prior to said Total Casualty. If Landlord fails to commence said repairs and restoration as above provided, or complete the same within one hundred and eighty (180) days after such commencement, Tenant may terminate this Lease on forty-five (45) days written notice or, in addition to any other remedy it may have, may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or that may become due and payable under this Lease. If the Demised Premises are partially damaged by Casualty, to the extent of less than a Total Casualty (“Partial Casualty”), Landlord shall, within ninety (90) days after receipt of applicable insurance proceeds, commence and diligently proceed to complete the repairs and restoration of the Demised Premises to their layout and condition prior to said Partial Casualty. If Landlord fails to commence as aforesaid or to complete the same within one hundred and twenty (120) days after such commencement, Tenant, in addition to any other remedy it may have, may terminate this Lease by giving Landlord forty-five (45) days written notice or may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or which may become due under this Lease. From the date of such damage to the date of substantial completion of such repairs and restoration of the Partial Casualty as reasonably certified by the Human Resources Administration in writing, Tenant shall pay rent for that part of the premises it is using during the alterations and repairs on a square foot basis in an amount equal to the product of the dollar amount of rent per square foot payable on such date and the number of square feet being occupied by Tenant.
Appears in 1 contract
Destruction by Fire or Other Casualty. If the whole of the Demised Premises is totally destroyed or demised premises shall be damaged by fire or other casualty (“Casualty”), or destroyed or damaged by Casualty to such an extent that they are wholly or substantially unsuitable or untenantable for use for the purpose for which they are leased (“Total Casualty”)casualty, then from Tenant shall give immediate notice thereof to Landlord and Tenant shall in every reasonable way facilitate the making of any repairs or the removal of any debris necessitated by such damage, and the following terms and conditions shall apply: (a) In the event of such damage, if it shall be such as to render the demised premises wholly untenantable or wholly unusable, then the rent shall be abated during such period as the demised premises shall be wholly untenantable or wholly unusable. As used in this Article 48, the term "wholly unusable" with respect to fire or casualty damage to the demised premises means that such premises are completely inaccessible by elevator or stairwell passage and/or cannot be effectively occupied by Tenant for any of the uses set forth in Article 64 hereof, in either case for a period of time exceeding five (5) consecutive calendar days. Furthermore, in such event, provided that such fire or other casualty shall not have been caused by the willful act of Tenant or Tenant's employees, contractors, agents, subtenants, licensees or invitees, Tenant shall have the right, exercisable by written notice to Landlord given within sixty (60) days after the date when such damage shall have occurred, to terminate this Lease as of a date not more than sixty (60) days after the date of such damage notice. If Tenant does not so exercise its right to terminate within such period, then the abatement of rent referred to in this clause (a) shall continue, except as provided below in clause (c), but this Lease otherwise shall remain in effect (unless terminated by Landlord as hereinafter provided); (b) In the event of such damage, if it shall be such as to render the demised premises partially untenantable, or destruction accessible but partially unusable, then the rent shall axxxx fully until be partially abated during such time period as Landlord fully repairs and restores the Demised Premises to its layout and condition immediately prior demised premises shall be partially untenantable or unusable, in the proportion which the area of the premises rendered untenantable or unusable bears to the Casualty as reasonably certified by area of the Human Resources Administrationwhole demised premises. Either party may terminate this Lease by notice to Furthermore, if such partial damage shall render untenantable or unusable more than fifty percent (50%) of the other area of the demised premises and if Landlord, within thirty (30) days from after the date when such damage shall have occurred, shall not have notified Tenant in writing of Landlord's undertaking to reconstruct or restore the Total Casualty. If no demised premises or if Landlord, having notified Tenant of such notice is givenundertaking, Landlord shall, does not actually commence such reconstruction or restoration within ninety (90) days after receipt of insurance proceeds, commence and diligently proceed with continuity to complete the repairs and restoration of the Demised Premises to their layout and condition prior to said Total Casualty. If Landlord fails to commence said repairs and restoration as above provided, or complete the same within one hundred and eighty (180) days after such commencement, Tenant may terminate this Lease on forty-five (45) days written notice or, in addition to any other remedy it may have, may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or that may become due and payable under this Lease. If the Demised Premises are partially damaged by Casualty, to the extent of less than a Total Casualty (“Partial Casualty”), Landlord shall, within ninety (90) days after receipt of applicable insurance proceeds, commence and diligently proceed to complete the repairs and restoration of the Demised Premises to their layout and condition prior to said Partial Casualty. If Landlord fails to commence as aforesaid or to complete the same within one hundred and twenty (120) days after such commencement, Tenant, in addition to any other remedy it may have, may terminate this Lease by giving Landlord forty-five (45) days written notice or may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or which may become due under this Lease. From the date of when such damage to the date of substantial completion of such repairs and restoration of the Partial Casualty as reasonably certified by the Human Resources Administration in writingshall have occurred, Tenant shall pay rent for that part of the premises it is using during the alterations and repairs on a square foot basis in an amount equal to the product of the dollar amount of rent per square foot payable on such date and the number of square feet being occupied by Tenant.then in
Appears in 1 contract
Samples: Impath Inc
Destruction by Fire or Other Casualty. If the whole of the Demised Premises is totally destroyed or shall be damaged by fire or other casualty (“Casualty”)casualty, or destroyed or damaged by Casualty Tenant shall give immediate notice thereof to such an extent that they are wholly or substantially unsuitable or untenantable for use for the purpose for which they are leased (“Total Casualty”), then from the date of such damage or destruction the rent shall axxxx fully until such time as Landlord fully repairs and restores the Demised Premises to its layout and condition immediately prior to the Casualty as reasonably certified by the Human Resources Administration. Either party may terminate this Lease by notice to the other within thirty (30) days from the date of the Total Casualty. If no such notice is given, Landlord shall, within ninety (90) days after receipt of insurance proceeds, commence shall continue in full force and diligently proceed with continuity to complete the repairs and restoration of the Demised Premises to their layout and condition prior to said Total Casualty. If Landlord fails to commence said repairs and restoration effect except as above provided, or complete the same within one hundred and eighty (180) days after such commencement, Tenant may terminate this Lease on forty-five (45) days written notice or, in addition to any other remedy it may have, may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or that may become due and payable under this Leasehereinafter set forth. If the Demised Premises are partially damaged unusable, then at Landlord's election, either (a) such damage shall be repaired and rebuilt with reasonable diligence by Casualty, and at the expense of Landlord to the extent of less than a Total Casualty (“Partial Casualty”)insurance proceeds are actually paid to Landlord, Landlord shalland the Fixed Rent and all Additional Rent, within ninety (90) days after receipt of applicable insurance proceedsfrom the day following the casualty until the date upon which such repair shall be substantially completed, commence and diligently proceed shall be abated in proportion to complete the repairs and restoration part of the Demised Premises to their layout and condition prior to said Partial Casualtywhich are unusable; or (b) this Lease may be terminated upon Landlord furnishing Tenant with written notice of such termination. If Landlord fails to commence as aforesaid the Demised Premises are totally damaged or to complete rendered wholly unusable by fire or other casualty, then the same within one hundred and twenty (120) days after such commencement, Tenant, in addition to any other remedy it may have, may terminate this Lease by giving Landlord forty-five (45) days written notice or may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or which may become due under this Lease. From the date of such damage Fixed Rent shall be proportionately paid up to the date of substantial completion of such repairs the casualty and restoration thereafter shall cease until the date when the Demised Premises shall have been repaired, rebuilt and restored by Landlord to substantially the same condition as the Demised Premises were as of the Partial Casualty as reasonably certified by the Human Resources Administration in writingLease Commencement Date, Tenant shall pay rent for that part of the premises it is using during the alterations and repairs on a square foot basis in an amount equal subject to the product of Landlord's right to elect not to restore the dollar amount of rent per square foot payable on such date same and Tenant's right to terminate this Lease as hereinafter provided. If the number of square feet being occupied by Tenant.Demised Premises are rendered wholly unusable (whether or not the Demised Premises are damaged in whole or in part) or if the Building shall be so damaged that Landlord shall decide to demolish it or not to rebuild or repair the same, or if Landlord shall decide to rebuild the same, but if Landlord does not substantially complete the repair or re-
Appears in 1 contract
Samples: Disturbance and Attornment Agreement (I3 Mobile Inc)
Destruction by Fire or Other Casualty. If the whole of the Demised Premises is totally destroyed or shall be damaged by fire or other casualty (“Casualty”)casualty, or destroyed or damaged by Casualty Tenant shall give immediate notice thereof to such an extent that they are wholly or substantially unsuitable or untenantable for use for the purpose for which they are leased (“Total Casualty”), then from the date of such damage or destruction the rent shall axxxx fully until such time as Landlord fully repairs and restores the Demised Premises to its layout and condition immediately prior to the Casualty as reasonably certified by the Human Resources Administration. Either party may terminate this Lease by notice to the other within thirty (30) days from the date of the Total Casualty. If no such notice is given, Landlord shall, within ninety (90) days after receipt of insurance proceeds, commence shall continue in full force and diligently proceed with continuity to complete the repairs and restoration of the Demised Premises to their layout and condition prior to said Total Casualty. If Landlord fails to commence said repairs and restoration effect except as above provided, or complete the same within one hundred and eighty (180) days after such commencement, Tenant may terminate this Lease on forty-five (45) days written notice or, in addition to any other remedy it may have, may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or that may become due and payable under this Leasehereinafter set forth. If the Demised Premises are partially damaged unusable, then at Landlord's election, either (a) such damage shall be repaired and rebuilt with reasonable diligence by Casualty, and at the expense of Landlord to the extent of less than a Total Casualty (“Partial Casualty”)insurance proceeds are actually paid to Landlord, Landlord shalland the Rent and all Additional Rent, within ninety (90) days after receipt of applicable insurance proceedsfrom the day following the casualty until the date upon which such repair shall be substantially completed, commence and diligently proceed shall be abated in proportion to complete the repairs and restoration part of the Demised Premises to their layout and condition prior to said Partial Casualtywhich are unusable; or (b) this Lease may be terminated upon Landlord furnishing Tenant with written notice of such termination. If the Demised Premises are substantially damaged or rendered unusable by fire or other casualty, then the Rent shall be proportionately paid up to the date of the casualty and thereafter shall cease until the date when the Demised Premises shall have been repaired, rebuilt and restored by Landlord fails to commence substantially the same condition as aforesaid the Demised Premises were as of the Lease Commencement Date, subject to the Landlord's right to elect not to restore the same and Tenant's right to terminate this Lease as hereinafter provided. If the Demised Premises are rendered substantially unusable (whether or not the Demised Premises are damaged in whole or in part) or if the Building shall be so damaged that Landlord shall decide to demolish it or not to rebuild or repair the same, or if Landlord shall decide to rebuild the same, but if Landlord does not substantially complete the same repair or re- building of the Demised Premises within one hundred and twenty (120) days after following such commencementcasualty (but subject to Force Majeure as described in Section 4 above), Tenantthen in any of such events, in addition Landlord or Tenant may elect to any other remedy it may have, may terminate this Lease by giving Landlord forty-five written notice to the other given within one hundred eighty (45180) days written notice or may perform such repairs and restoration and reimburse itself for the reasonable cost thereof from any rent due or which may become due under this Lease. From after the date of such damage fire or casualty. Such notice shall specify a date for the expiration of this Lease, and upon the date specified the Term shall expire by lapse of time as fully and completely as if such date were the scheduled expiration date of this Lease and Tenant shall forthwith quit, surrender and vacate the Demised Premises, but without prejudice, to Landlord's rights and remedies against Tenant arising prior to such termination, and any Rent owing shall be paid up to the date of substantial completion such termination and any payments of Rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Unless Landlord shall serve a termination notice as provided for herein, Landlord shall make repairs and restoration restorations as herein set forth with all reasonable expedition, subject to delays caused by Force Majeure. Nothing contained herein shall relieve Tenant from liability hereunder that may exist as a result of damage from fire or other casualty. Tenant acknowledges that Landlord will not carry insurance with respect to Tenant's furniture and/or furnishings or any fixtures or equipment, improvements, or appurtenances removable by Tenant and agrees that Landlord will not be obligated to repair any damage thereto or replace the same. Landlord shall keep the Building, including Landlord's Work, insured against loss or damage by fire and against loss or damage by other risks now or hereafter embraced by "Extended Coverage", so-called, and against such other risks as prudent operators of similar facilities would normally insure in amounts sufficient to prevent Landlord from becoming a coinsurer under the terms of the Partial Casualty applicable policies, but in any event in an amount not less than eighty (80%) percent of the then "full replacement cost" ("full replacement cost" being the cost of re- placing the Building excluding the cost of excavations, foundations and footings). In the event that Tenant's use of the Demised Premise shall be violative of the rules and regulations of the Fire Insurance Rating Organization and, as reasonably certified by a result thereof, Tenant cannot continue the Human Resources Administration Represented Use without being in writingdefault of this Lease, Tenant shall pay rent nonetheless remain liable to Landlord for that part the faithful observance of all the premises it is using during the alterations terms, covenants and repairs on a square foot basis in an amount equal to the product conditions of the dollar amount of rent per square foot payable on such date and the number of square feet being occupied by Tenantthis Lease.
Appears in 1 contract
Samples: Marine Management Systems Inc
