Common use of DESTRUCTION-FIRE OR OTHER CAUSE Clause in Contracts

DESTRUCTION-FIRE OR OTHER CAUSE. If the Premises shall be partially damaged by fire or other cause without the fault or neglect of Lessee or Lessee’s servants, employees, agents, invitees or licensees, Lessor shall, upon Lessor’s receipt of the insurance proceeds and to the extent such proceeds are allocable or attributable to the Premises, repair the portions of the Premises covered by Lessor’s insurance, and the rent until such repairs shall have been made shall be apportioned according to the part of the Premises which is usable by Xxxxxx. But if such partial damage is due to the fault or neglect of Lessee or Xxxxxx’s servants, employees, agents, invitees or licensees, without prejudice to any other rights and remedies of Lessor and without prejudice to the rights of subrogation of Lessor’s insurer, the damages shall be repaired by Lessor but there shall be no apportionment or abatement of rent. If the Premises are totally damaged or are rendered wholly un-Lesseeable by fire or other cause and Lessor shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Lessor shall decide to demolish it or not to rebuild it, or if the damage occurs in the last year of the then term of this Lease, or if the Building (whether or not the Premises have been damaged) should be damaged to the extent of fifty (50%) percent or more of the then monetary value thereof, or if the damage resulted from a risk not fully covered by Lessor’s insurance, then or in any of such events, Lessor may, within ninety (90) days after such fire or other cause, give Lessee a notice of Lessor’s election to cancel this Lease, and thereupon the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Lessee shall vacate the Premises and surrender the same to Lessor. For purposes of this Lease, the term “Lessor’s receipt of insurance proceeds” shall mean the portion of the insurance proceeds paid over to Lessor free and clear of any collection by mortgagees for the value of the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceeds.

Appears in 1 contract

Samples: Lease Agreement (SolarJuice Co., Ltd.)

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DESTRUCTION-FIRE OR OTHER CAUSE. If the Premises demised premises shall be partially damaged by fire or other cause without the fault or neglect of Lessee or Lessee’s 's servants, employees, agents, invitees or licensees, Lessor shall, upon Lessor’s 's receipt of the insurance proceeds and to the extent such proceeds are allocable or attributable to the Premisesdemised premises, repair the portions of the Premises demised premises covered by Lessor’s 's insurance, and the rent until such repairs shall have been made shall be apportioned according to the part of the Premises demised premises, which is usable by XxxxxxLessee. But if such partial damage is due to the fault or neglect of Lessee or Xxxxxx’s Lessee's servants, employees, agents, invitees or licensees, without prejudice to any other rights and remedies of Lessor and without prejudice to the rights of subrogation of Lessor’s 's insurer, the damages shall be repaired by Lessor but there shall be no apportionment or abatement of rent. If the Premises demised premises are totally damaged or are rendered wholly un-Lesseeable untenantable by fire or other cause and Lessor shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Lessor shall decide to demolish it or not to rebuild it, or if the damage occurs in the last year of the then term of this Lease, or if the Building (whether or not the Premises demised premises have been damaged) should be damaged to the extent of fifty (50%) percent or more of the then monetary value thereof, or if the damage resulted from a risk not fully covered by Lessor’s 's insurance, then or in any of such events, Lessor may, within ninety (90) days after such fire or other cause, give given Lessee a notice of Lessor’s 's election to cancel this Lease, and thereupon the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Lessee shall vacate the Premises demised premises and surrender the same to Lessor. For purposes of this Lease, the term "Lessor’s 's receipt of insurance proceeds" shall mean the portion of the insurance proceeds paid over to Lessor free and clear of any collection by mortgagees for the value of the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceeds. Notwithstanding any provisions of this Paragraph 19 to the contrary, if, without fault or neglect of the Lessee, the demised premises are usable but the Building is so damaged that use of the demised premises is impractical, rent will be abated until the Building is restored, and if restoration is not completed within 150 days of the damage occurrence, either Lessor or Lessee upon written notice can terminate the lease without further liability on Lessor or Lessee.

Appears in 1 contract

Samples: Lease Agreement (Dunn Computer Corp)

DESTRUCTION-FIRE OR OTHER CAUSE. If the Demised Premises shall be partially damaged by fire or other cause without whether or not due to the fault or neglect of Lessee or Lessee’s servants, employees, agents, invitees or licensees, Lessor shall, upon Lessor’s receipt of the insurance proceeds and to the extent such proceeds are allocable or attributable to the Demised Premises, repair the portions of the Demised Premises covered by Lessor’s insurance, and the rent until such repairs shall have been made shall be apportioned according to the part of the Demised Premises which is usable by XxxxxxLessee. But if such partial damage is due to the fault or neglect of intentionally caused by Lessee or XxxxxxLessee’s servants, employees, agents, invitees or licensees, without prejudice to any other rights and remedies of Lessor and without prejudice to the rights of subrogation of Lessor’s insurer, the damages shall be repaired by Lessor but there shall be no apportionment or abatement of rent. If the Demised Premises are totally damaged or are rendered wholly un-Lesseeable tenantable by fire or other cause and Lessor shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Lessor shall decide to demolish it or not to rebuild it, or if the damage occurs in the last year of the then term of this Lease, or if the Building (whether or not the Demised Premises have been damaged) should be damaged to the extent of fifty (50%) percent or more of the then monetary value thereof, or if the damage resulted from a risk not fully covered by Lessor’s insurance, then or in any of such events, Lessor may, within ninety (90) days after such fire or other cause, give Lessee a notice of Lessor’s election to cancel this Lease, and thereupon the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Lessee shall vacate the Demised Premises and surrender the same to Lessor. For purposes of this Lease, the term “Lessor’s receipt of insurance proceeds” shall mean the portion of the insurance proceeds paid over to Lessor free and clear of any collection by mortgagees for the value of the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceeds.

Appears in 1 contract

Samples: Lease Agreement (HeartWare LTD)

DESTRUCTION-FIRE OR OTHER CAUSE. 8.01. (a) If the Premises Building shall be partially damaged or destroyed, or if the demised premises shall be partially damaged or destroyed, by fire fire, casualty or other cause without cause, then whether or not the damage or destruction shall have resulted from the fault or neglect of Lessee Tenant, or Lessee’s its servants, employees, agents, invitees visitors or licenseeslicensees (and if this Lease shall not have been cancelled as in this Article hereinafter provided), Lessor shallLandlord will promptly and with due diligence and continuity repair the damage, upon Lessor’s receipt and restore, replace, and rebuild the Building and the demises premises at its expense after notice to it of the insurance proceeds damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property, which repairs or replacements to Tenant's Property shall be made by Tenant, at its own expense and subject to the provisions of this Lease. If the demised premises shall be partially damaged or partially destroyed, the basic annual rent and additional rent payable hereunder shall be proportionately abated (on a per square foot basis) to the extent such proceeds are allocable or attributable to that the Premises, repair the portions of the Premises covered by Lessor’s insurance, and the rent until such repairs demised premises shall have been rendered untenantable or unfit for the conduct of Tenant's business in substantially the manner in which such business was being conducted immediately prior to such casualty, and if Tenant does not occupy such damaged or destroyed part of the demised premises for the conduct of business, for the period from the date of such damage or destruction to the date that the damage shall be repaired or restored. If the demised premises or a major part thereof shall be totally, or substantially totally, damaged or destroyed or rendered completely, or substantially completely, untenantable or unfit for the conduct of Tenant's business in substantially the manner in which such business was being conducted immediately prior to such fire, casualty or other cause and on account of such fire, casualty or other cause, the basic annual rent and additional rent shall completely xxxxx as of the date of the damage or destruction until Landlord shall repair, restore, replace and rebuild the demised premises as provided in the first sentence of this Section 8.01(a); provided, however, that, should Tenant reoccupy a portion of the demised premises for the purpose of conducting business during the period the restoration work is taking place either pursuant to this Section 8.01(a) or Section 8.01(b) and prior to the date when the same is made completely tenantable, basic annual rent and additional rent shall be apportioned according and be payable by Tenant in proportion to the part of the Premises which is usable demised premises occupied by Xxxxxx. But if such partial damage is due to the fault or neglect of Lessee or Xxxxxx’s servants, employees, agents, invitees or licensees, without prejudice to any other rights and remedies of Lessor and without prejudice to the rights of subrogation of Lessor’s insurer, the damages shall be repaired by Lessor but there shall be no apportionment or abatement of rent. If the Premises are totally damaged or are rendered wholly un-Lesseeable by fire or other cause and Lessor shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Lessor shall decide to demolish it or not to rebuild it, or if the damage occurs in the last year of the then term of this Lease, or if the Building (whether or not the Premises have been damaged) should be damaged to the extent of fifty (50%) percent or more of the then monetary value thereof, or if the damage resulted from a risk not fully covered by Lessor’s insurance, then or in any of such events, Lessor may, within ninety (90) days after such fire or other cause, give Lessee a notice of Lessor’s election to cancel this Lease, and thereupon the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Lessee shall vacate the Premises and surrender the same to Lessor. For purposes of this Lease, the term “Lessor’s receipt of insurance proceeds” shall mean the portion of the insurance proceeds paid over to Lessor free and clear of any collection by mortgagees for the value of the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceeds.

Appears in 1 contract

Samples: Agreement of Lease (Credit Suisse First Boston Usa Inc)

DESTRUCTION-FIRE OR OTHER CAUSE. Section 10.1 If the portion of the Building in which the Premises are located shall be partially damaged by fire or other cause without casualty, Tenant shall give immediate notice thereof to Landlord and this Lease shall continue in full force and effect except as hereinafter specifically set forth. Provided this Lease shall not then or thereafter be terminated in accordance with the fault or neglect provisions of Lessee or Lessee’s servants, employees, agents, invitees or licensees, Lessor shallthis Article 10, upon Lessor’s receipt Tenant giving notice thereof to Landlord, the damage to the Basic Construction of the insurance proceeds Building shall diligently be repaired by Landlord to a condition substantially comparable (subject to changes Landlord shall deem reasonable and desirable) to the extent condition existing prior to such proceeds are allocable or attributable to damage (“Landlord’s Restoration Work”). Until the Premises, repair the portions of the Premises covered by LessorLandlord’s insurance, and the rent until such repairs shall have been made Restoration Work shall be apportioned according to substantially completed (of which substantial completion Landlord shall promptly notify Tenant), the Fixed Rent and Escalation Rent shall be reduced in the proportion which the floor area of the part of the Premises which is not usable by Xxxxxx. But if Tenant by reason of such partial damage is due to the fault or neglect Basic Construction of Lessee or Xxxxxx’s servantsthe Building, employeesas determined by Landlord in its reasonable discretion, agents, invitees or licensees, without prejudice to any other rights and remedies of Lessor and without prejudice bears to the rights of subrogation of Lessor’s insurer, the damages shall be repaired by Lessor but there shall be no apportionment or abatement of rent. If the Premises are totally damaged or are rendered wholly un-Lesseeable by fire or other cause and Lessor shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Lessor shall decide to demolish it or not to rebuild it, or if the damage occurs in the last year total floor area of the then term of this LeasePremises; provided, however, that should Tenant or if the Building (whether anyone claiming through or not the Premises have been damaged) should be damaged to the extent of fifty (50%) percent or more of the then monetary value thereof, or if the damage resulted from under Tenant reoccupy a risk not fully covered by Lessor’s insurance, then or in any of such events, Lessor may, within ninety (90) days after such fire or other cause, give Lessee a notice of Lessor’s election to cancel this Lease, and thereupon the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Lessee shall vacate the Premises and surrender the same to Lessor. For purposes of this Lease, the term “Lessor’s receipt of insurance proceeds” shall mean the portion of the insurance proceeds paid over Premises (for purposes of performing Tenant’s Restoration Work or otherwise) as to Lessor free which the abatement is in effect during the period Landlord’s Restoration Work is being performed, Fixed Rent and clear Escalation Rent shall be appropriately increased to reflect Tenant’s occupancy of such floor area. Tenant shall repair any collection by mortgagees for damage to, or replace and restore all Alterations and Tenant’s Property to substantially the value of condition existing prior to the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceeds.damage (“

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Coty Inc /)

DESTRUCTION-FIRE OR OTHER CAUSE. If the Premises demised premises shall be partially damaged by fire or other cause without the fault or neglect of Lessee or Lessee’s 's servants, employees, agents, invitees or licensees, Lessor shall, upon Lessor’s 's receipt of the insurance proceeds and to the extent such proceeds are allocable or attributable to the Premisesdemised premises, repair the portions of the Premises demised premises covered by Lessor’s 's insurance, and the rent until such repairs shall have been made shall be apportioned according to the part of the Premises demised premises which is usable by XxxxxxLessee. But if such partial damage is due to the fault or neglect of Lessee or Xxxxxx’s Lessee's servants, employees, agents, invitees or licensees, without prejudice to any other rights and remedies of Lessor and without prejudice to the rights of subrogation of Lessor’s 's insurer, the damages shall be repaired required by Lessor but there shall be no apportionment or abatement of rent. If the Premises demised premises are totally damaged or are rendered wholly un-Lesseeable untenantable by fire or other cause and Lessor shall decide not to restore or not to rebuild the same, or if the Building building of which the demised premises are a part shall be so damaged that Lessor shall decide to demolish it or not to rebuild it, or if the damage occurs in the last year of the then term of this Lease, or if the Building building of which the demised premises are a part (whether or not the Premises demised premises have been damaged) should be damaged to the extent of fifty (50%) percent or more of the then monetary value thereof, or if the damage resulted from a risk not fully covered by Lessor’s 's insurance, then or in any of such events, Lessor may, within ninety (90) days after such fire or other cause, give Lessee a notice of Lessor’s election to cancel this Lease, and thereupon the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Lessee shall vacate the Premises and surrender the same to Lessor. For purposes of this Lease, the term “Lessor’s receipt of insurance proceeds” shall mean the portion of the insurance proceeds paid over to Lessor free and clear of any collection by mortgagees for the value of the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceeds.or

Appears in 1 contract

Samples: Lease Agreement (Satx Inc)

DESTRUCTION-FIRE OR OTHER CAUSE. If the Premises demised premises shall be partially damaged by fire or other cause without the fault or neglect of Lessee or Lessee’s servants, employees, agents, invitees or licenseescause, Lessor shall, upon Lessor’s 's receipt of the insurance proceeds and to the extent such proceeds are allocable or attributable to the Premisesproceeds, repair the portions of the Premises demised premises covered by Lessor’s 's insurance, and the rent until such repairs shall have been made shall be apportioned according to the part of the Premises demised premises which is usable by Xxxxxx. But if such partial damage is due to the fault or neglect of Lessee or Xxxxxx’s servants, employees, agents, invitees or licensees, without prejudice to any other rights and remedies of Lessor and without prejudice to the rights of subrogation of Lessor’s insurer, the damages shall be repaired by Lessor but there shall be no apportionment or abatement of rentLessee. If the Premises demised premises are totally damaged or are rendered wholly un-Lesseeable untenantable by fire or other cause and Lessor shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Lessor shall decide to demolish it or not to rebuild it, or if the damage occurs in the last year of the then term of this Lease, or if the Building (whether or not the Premises demised premises have been damaged) should be damaged to the extent of fifty (50%) percent or more of the then monetary value thereof, or if the damage resulted from a risk not fully covered by Lessor’s insurance, then or in any of such events, Lessor may, within ninety (90) days after such fire or other cause, give Lessee a notice of Lessor’s 's election to cancel this Lease, and thereupon the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Lessee shall vacate the Premises demised premises and surrender the same to Lessor. For purposes of this Lease, the term "Lessor’s 's receipt of insurance proceeds" shall mean the portion of the insurance proceeds paid over to Lessor free and clear of any collection by mortgagees for the value of the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceeds.

Appears in 1 contract

Samples: 15 Lease Agreement (Jaymark Inc)

DESTRUCTION-FIRE OR OTHER CAUSE. 8.01. If the Premises Building shall be partially damaged or destroyed or if the demised premises shall be partially or totally damaged or destroyed by fire fire, casualty or other cause without cause, then, whether or not the damage or destruction shall have resulted from the fault or neglect of Lessee Tenant, or Lessee’s its servants, employees, agents, invitees visitors or licenseeslicensees (and if this Lease shall not have been canceled as in this article hereinafter provided), Lessor shallLandlord will repair the damage, upon Lessor’s receipt and restore, replace, and rebuild the Building and the demised premises at its expense, with reasonable dispatch and continuity after notice to it of the insurance proceeds damage or destruction; provided, however, that Landlord shall not be required to repair or replace any installation made by Tenant.* If the demised premises shall be partially damaged or partially destroyed, the rent and additional rent payable hereunder shall be abated to the extent such proceeds are allocable or attributable to that the Premises, repair the portions of the Premises covered by Lessor’s insurance, and the rent until such repairs demised premises shall have been rendered untenantable or unfit for Tenant's use and Tenant does not occupy such damaged or destroyed part of the premises on other than an emergency basis for the period from the date of such damage or destruction to the date that the damage shall be repaired or restored. If the demised premises or a major part thereof shall be totally, or substantially totally, damaged or destroyed or rendered completely, or substantially completely, Untenantable on account of fire, casualty or other cause, the rent and additional rent shall completely xxxxx as of the date of the damage or * which is not covered by Landlord's fire insurance policy for the Building. destruction and until Landlord shall repair, restore, replace and rebuild the demised premises (subject to Landlord's right to elect not to restore the same as hereinafter provided); provided, however, that should Tenant reoccupy a portion of the demised premises for the purpose of conducting business during the period the restoration work is taking place and prior to the date that the same is made completely tenantable, rent and additional rent shall be apportioned according and payable by Tenant in proportion to the part of the Premises which is usable demised premises occupied by Xxxxxx. But if such partial it Nevertheless, in case of any substantial damage is due or destruction to the fault or neglect demised premises, Tenant, in addition to and without waiver of Lessee or Xxxxxx’s servants, employees, agents, invitees or licensees, without prejudice to any other rights and or remedies of Lessor and without prejudice available to the rights of subrogation of Lessor’s insurer, the damages shall be repaired by Lessor but there shall be no apportionment or abatement of rent. If the Premises are totally damaged or are rendered wholly un-Lesseeable by fire or other cause and Lessor shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Lessor shall decide to demolish it or not to rebuild it, or may cancel this Lease by written notice to Landlord, if (i) within 60 days from the date of the damage occurs in the last year or destruction, Landlord does not file a proof of loss with its insurer; (ii) within 90 days of the then term date of this Lease, damage or if destruction Landlord does not let a contract or contracts which shall provide for the Building (whether or not the Premises have been damaged) should be damaged to the extent of fifty (50%) percent or more complete restoration of the then monetary value thereof, or if demised one year premises within a period of one year two years from the date of the damage resulted from a risk or destruction; (iii) work un3er. such contract or contracts has not fully covered by Lessor’s insurance, then commenced within 120 days of the date of said damage or in any of such events, Lessor may, within ninety destruction; or (90iv) said work is not prosecuted with reasonable diligence to its completion; provided that Tenant shall not be entitled to cancel this Lease pursuant to this sentence more than thirty (30) days after such fire Landlord shall have given written notice to Tenant that the state of facts specified in clause (i), (ii) or other cause, give Lessee a notice of Lessor’s election to cancel this Lease, and thereupon the term (iii) of this Lease shall expire by lapse of time upon sentence, as the third day after such notice is givencase may be, and Lessee shall vacate has occurred. The period for the Premises and surrender the same to Lessor. For purposes of this Lease, the term “Lessor’s receipt of insurance proceeds” shall mean the portion commencement or completion of the insurance proceeds paid over required repairs and restoration work shall be extended by the number of days lost (not to Lessor free and clear exceed, however, nine months one year) in the event such loss results from strike, act of God, war, governmental action, national or state or municipal emergency, or any collection by mortgagees for cause beyond the value reasonable control of the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceeds.Landlord. *

Appears in 1 contract

Samples: Agreement (First Albany Companies Inc)

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DESTRUCTION-FIRE OR OTHER CAUSE. 8.01. If the Premises Building shall be partially damaged or destroyed or if the demised premises shall be partially or totally damaged or destroyed by fire fire, casualty or other cause without cause, then, whether or not the damage or destruction shall have resulted from the fault or neglect of Lessee Tenant, or Lessee’s its servants, employees, agents, invitees visitors or licenseeslicensees (and if this Lease shall not have been cancelled as in this article hereinafter provided), Lessor shallLandlord will repair the damage, upon Lessor’s receipt and restore, replace, and rebuild the Building and the demised premises at its expense, with reasonable dispatch and continuity after notice to it of the insurance proceeds damage or destruction; provided, however, that Landlord shall not be required to repair or replace any installation made by Tenant. If the demised premises shall be partially damaged or partially destroyed, the rent and additional rent payable hereunder shall be abated to the extent such proceeds are allocable or attributable to that the Premises, repair the portions of the Premises covered by Lessor’s insurance, and the rent until such repairs demised premises shall have been rendered untenantable or unfit for Tenant's use and Tenant does not occupy such damaged or destroyed part of the premises on other than an emergency basis for the period from the date of such damage or destruction to the date that the damage shall be repaired or restored. If the demised premises or a major part thereof shall be totally, or substantially totally, damaged or destroyed or rendered completely, or substantially completely, untenantable on account of fire, casualty or other cause, the rent and additional rent shall completely xxxxx as of the date of the damage or destruction and until Landlord shall repair, restore, replace and rebuild the demised premises (subject to Landlord's right to elect not to restore the same as hereinafter provided); provided, however, that should Tenant reoccupy a portion of the demised premises for the purpose of conducting business during the period the restoration work is taking place and prior to the date that the same is made completely tenantable, rent and additional rent shall be apportioned according and payable by Tenant in proportion to the part of the Premises which is usable demised premises occupied by Xxxxxxit. But if such partial Nevertheless, in case of any substantial damage is due or destruction to the fault or neglect demised premises, Tenant, in addition to and without waiver of Lessee or Xxxxxx’s servants, employees, agents, invitees or licensees, without prejudice to any other rights and or remedies of Lessor and without prejudice available to the rights of subrogation of Lessor’s insurer, the damages shall be repaired by Lessor but there shall be no apportionment or abatement of rent. If the Premises are totally damaged or are rendered wholly un-Lesseeable by fire or other cause and Lessor shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Lessor shall decide to demolish it or not to rebuild it, or may cancel this Lease by written notice to Landlord, if (i) within 60 days from the date of the damage occurs in the last year or destruction, Landlord does not file a proof of loss with its insurer; (ii) within 90 days of the then term date of this Lease, damage or if destruction Landlord does not let a contract or contracts which shall provide for the Building (whether or not the Premises have been damaged) should be damaged to the extent of fifty (50%) percent or more complete restoration of the then monetary value thereof, or if demised premises within a period of two years from the date of the damage resulted from a risk or destruction; (iii) work under such contract or contracts has not fully covered by Lessor’s insurance, then commenced within 120 days of the date of said damage or in any of such events, Lessor may, within ninety destruction; or (90iv) said work is not prosecuted with reasonable diligence to its completion; provided that Tenant shall not be entitled to cancel this Lease pursuant to this sentence more than thirty (30) days after such fire Landlord shall have given written notice to Tenant that the state of facts specified in clause (i), (ii) or other cause, give Lessee a notice of Lessor’s election to cancel this Lease, and thereupon the term (iii) of this Lease shall expire by lapse of time upon sentence, as the third day after such notice is givencase may be, and Lessee shall vacate has occurred. The period for the Premises and surrender the same to Lessor. For purposes of this Lease, the term “Lessor’s receipt of insurance proceeds” shall mean the portion commencement or completion of the insurance proceeds paid over required repairs and restoration work shall be extended by the number of days lost (not to Lessor free and clear exceed, however, one year) in the event such loss results from strike, act of God, war, governmental action, national or state or municipal emergency, or any collection by mortgagees for cause beyond the value reasonable control of the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceedsLandlord.

Appears in 1 contract

Samples: Trans World Gaming Corp

DESTRUCTION-FIRE OR OTHER CAUSE. 8.01. (a) If the Premises Building shall be partially damaged or destroyed, or if the demised premises shall be partially damaged or destroyed, by fire fire, casualty or other cause without cause, then whether or not the damage or destruction shall have resulted from the fault or neglect of Lessee Tenant, or Lessee’s its servants, employees, agents, invitees visitors or licenseeslicensees (and if this Lease shall not have been cancelled as in this Article hereinafter provided), Lessor shallLandlord will promptly and with due diligence and continuity repair the damage, upon Lessor’s receipt and restore, replace, and rebuild the Building and the demised premises at its expense after notice to it of the insurance proceeds damage or destruction; provided, however, that Landlord shall not be required to repair or replace any of Tenant's Property, which repairs or replacements to Tenant's Property shall be made by Tenant, at its own expense and subject to the provisions of this Lease. If the demised premises shall be partially damaged or partially destroyed, the basic annual rent and additional rent (but not the Special Additional Rent, which shall continue to be paid by Tenant) payable hereunder shall be proportionately abated (on a per square foot basis, and taking into account the different basic annual rent per square foot for the various portions of the demised premises) to the extent such proceeds are allocable or attributable to that the Premises, repair the portions of the Premises covered by Lessor’s insurance, and the rent until such repairs demised premises shall have been rendered untenantable or unfit for the conduct of Tenant's business in substantially the manner in which such business was being conducted immediately prior to such casualty, and if Tenant does not occupy such damaged or destroyed part of the demised premises for the conduct of business, for the period from the date of such damage or destruction to the date that the damage shall be repaired or restored. If the demised premises or a major part thereof shall be totally, or substantially totally, damaged or destroyed or rendered completely, or substantially completely, untenantable or unfit for the conduct of Tenant's business in substantially the manner in which such business was being conducted immediately prior to such fire, casualty or other cause and on account of such fire, casualty or other cause, the basic annual rent and additional rent (but not the Special Additional Rent, which shall continue to be paid by Tenant) shall completely xxxxx as of the date of the damage or destruction until Landlord shall repair, restore, replace and rebuild the demised premises as provided in the first sentence of this Section 8.01(a); provided, however, that, should Tenant reoccupy a portion of the demised premises for the purpose of conducting business during the period the restoration work is taking place either pursuant to this Section 8.01(a) or Section 8.01(b) and prior to the date when the same is made completely tenantable, basic annual rent and additional rent (but not the Special Additional Rent which shall continue to be paid by Tenant) shall be apportioned according and be payable by Tenant in proportion to the part of the Premises which is usable demised premises occupied by Xxxxxx. But if such partial damage is due to the fault or neglect of Lessee or Xxxxxx’s servants, employees, agents, invitees or licensees, without prejudice to any other rights and remedies of Lessor and without prejudice to the rights of subrogation of Lessor’s insurer, the damages shall be repaired by Lessor but there shall be no apportionment or abatement of rent. If the Premises are totally damaged or are rendered wholly un-Lesseeable by fire or other cause and Lessor shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Lessor shall decide to demolish it or not to rebuild it, or if the damage occurs in the last year of the then term of this Lease, or if the Building (whether or not the Premises have been damaged) should be damaged to the extent of fifty (50%) percent or more of the then monetary value thereof, or if the damage resulted from a risk not fully covered by Lessor’s insurance, then or in any of such events, Lessor may, within ninety (90) days after such fire or other cause, give Lessee a notice of Lessor’s election to cancel this Lease, and thereupon the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Lessee shall vacate the Premises and surrender the same to Lessor. For purposes of this Lease, the term “Lessor’s receipt of insurance proceeds” shall mean the portion of the insurance proceeds paid over to Lessor free and clear of any collection by mortgagees for the value of the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceeds.

Appears in 1 contract

Samples: Credit Suisse First Boston Usa Inc

DESTRUCTION-FIRE OR OTHER CAUSE. 8.01 If the Building shall be partially damaged or destroyed or if the Demised Premises shall be partially or totally damaged or destroyed by fire fire, casualty or other cause without cause, then, whether or not the damage or destruction shall have resulted from the fault or neglect of Lessee Tenant, or Lessee’s its servants, employees, agents, invitees visitors or licenseeslicensees (and if this Lease shall not have been canceled as in this Article hereinafter provided), Lessor shallLandlord will repair the damage, upon Lessor’s receipt and restore, replace, and rebuild the Building and the Demised Premises at its expenses, with reasonable dispatch and continuity after notice to it of the insurance proceeds damage or destruction; provided, however, that Landlord shall not be required to repair or replace any installation made by Tenant not required hereunder to be covered by Landlord's insurance. If the Demised Premises shall be partially damaged or partially destroyed, the rent and additional rent payable hereunder shall be abated to the extent such proceeds are allocable or attributable to that the Premises, repair the portions of the Demised Premises covered by Lessor’s insurance, and the rent until such repairs shall have been rendered untenantable or unfit for Tenant's use and Tenant does not occupy such damaged or destroyed part of the premises on other than an emergency basis for the period from the date of such damage or destruction to the date that the damage shall be repaired or restored. If the Demised Premises or a major part thereof shall be totally, or substantially totally, damaged or destroyed or substantially completely, untenantable on account of fire, casualty or other cause, the rent and additional rent shall completely xxxxx as of the date of the damage or destruction and until Landlord shall repair, restore, replace and rebuild the Demised Premises; provided, however, that should Tenant reoccupy a portion of the Demised Premises for the purpose of conducting business during the period the restoration work is taking place and prior to the date that the same is made completely tenantable, rent and additional rent shall be apportioned according and payable by Tenant in proportion to the part of the Demised Premises which is usable occupied by Xxxxxx. But if such partial damage is due to the fault or neglect of Lessee or Xxxxxx’s servants, employees, agents, invitees or licensees, without prejudice to any other rights and remedies of Lessor and without prejudice to the rights of subrogation of Lessor’s insurer, the damages shall be repaired by Lessor but there shall be no apportionment or abatement of rent. If the Premises are totally damaged or are rendered wholly un-Lesseeable by fire or other cause and Lessor shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Lessor shall decide to demolish it or not to rebuild it, or if the damage occurs in the last year of the then term of this Lease, or if the Building (whether or not the Premises have been damaged) should be damaged to the extent of fifty (50%) percent or more of the then monetary value thereof, or if the damage resulted from a risk not fully covered by Lessor’s insurance, then or in any of such events, Lessor may, within ninety (90) days after such fire or other cause, give Lessee a notice of Lessor’s election to cancel this Lease, and thereupon the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Lessee shall vacate the Premises and surrender the same to Lessor. For purposes of this Lease, the term “Lessor’s receipt of insurance proceeds” shall mean the portion of the insurance proceeds paid over to Lessor free and clear of any collection by mortgagees for the value of the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceeds.

Appears in 1 contract

Samples: Agreement of Lease (Global Sources LTD)

DESTRUCTION-FIRE OR OTHER CAUSE. If the Demised Premises shall be partially damaged by fire or other cause without cause, the fault or neglect damages shall be repaired by and at the expense of Lessee or Lessee’s servants, employees, agents, invitees or licensees, Lessor shall, upon Lessor’s receipt of the insurance proceeds and to the extent such proceeds are allocable or attributable to the Premises, repair the portions of the Premises covered by Lessor’s insurance, Landlord and the rent until such repairs shall have been be made shall be apportioned according to the part of the Demised Premises which is usable by XxxxxxTenant. But if such partial damage is due to the fault willful misconduct or neglect negligence of Lessee or Xxxxxx’s Tenant, Tenant's servants, employees, agents, invitees or licensees, without prejudice to any other rights and remedies of Lessor and without prejudice to the rights Landlord of subrogation of Lessor’s insurer, the damages shall be repaired by Lessor Landlord but there shall be no apportionment or abatement of rent. If No penalty shall accrue for reasonable delay which may arise by reason of adjustment of insurance on the Premises are totally damaged part of Landlord, and for reasonable delay on account of "labor troubles", or are rendered wholly un-Lesseeable by fire or any other cause cause, and Lessor if Landlord shall decide not to restore or not to rebuild the same, or if the Building shall be so damaged that Lessor Landlord shall decide to demolish it or not to rebuild it, or if the damage occurs in the last year of the then term of this Lease, or if the Building (whether or not the Premises have been damaged) should be damaged to the extent of fifty (50%) percent or more of the then monetary value thereof, or if the damage resulted from a risk not fully covered by Lessor’s insurance, then or in any of such events, Lessor events Landlord may, within ninety (90) days after such fire or other cause, give Lessee Tenant a notice in writing of Lessor’s election to cancel this Leasesuch decision, and thereupon the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Lessee Tenant shall vacate the Demised Premises and surrender the same to LessorLandlord. For purposes If Tenant shall not be in default under this Lease then, upon the termination of this LeaseLease under the conditions provided for in the sentence immediately preceding, the term “Lessor’s receipt of insurance proceeds” Tenant's liability for rent shall mean the portion cease as of the insurance proceeds paid over to Lessor free and clear of any collection by mortgagees for day following the value of the damage, attorney fees and other costs of compromise, adjustment, settlement and collection of the insurance proceedscasualty.

Appears in 1 contract

Samples: Deed of Lease (MCG Capital Corp)

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