Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.
Appears in 2 contracts
Samples: Lease Agreement (Verisign Inc/Ca), Lease Agreement (Verisign Inc/Ca)
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged destroyed in whole or destroyed in part from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premisescause, Landlord Lessor may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expenseoption, promptly (1.) rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction or (2.) terminate the amount of any deductible from the insurance policy, Lease. If Lessor does not to exceed one month's rent give Lessee notice in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, writing within thirty (30) days after the occurrence date on which occurred the destruction of such the Premises of its election either to rebuild and restore the Premises, or to terminate this Lease, Lessor shall be deemed to have elected to rebuild or restore them, in which event Lessor agrees, at its expense, promptly to rebuild or restore the Premises to its condition prior to the damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two Lessor does not complete the rebuilding or restoration within one hundred seventy eighty (270180) days from following the issuance date of a building permit, Tenant may, within thirty destruction (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or Lessee of because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of LandlordLessor), then Lessee shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Lessor. Landlord's Lessor’s obligation to repair rebuild or restore the Premises shall not include restoration of Tenant's Lessee’s trade fixtures, equipment, merchandise, or any improvements, alterations alterations, or additions made by Tenant Lessee to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant Lessee hereby expressly waives the provisions of Section 1932, Subdivision 2 2, and Section 1933, Subdivision 4 4, of the California Civil Code. Notwithstanding anything to the contrary in this Article 15: (i) if the Premises are damaged by any peril and Lessor does not terminate the Lease, then Lessee shall have the option to terminate the Lease if the Premises cannot be, or are not in fact, fully restored by Lessor to their prior condition for any reason whatsoever within one hundred eighty (180) days after the damage, and (ii) if the Premises are damaged by any peril during the last twelve (12) months of the Lease term, Lessee shall have the option to terminate this Lease by giving written notice to Lessor within thirty (30) days after the date of the damage estimate, and this Lease shall terminate as of the date specified by Lessee in its termination notice, which date shall not be before the date of such notice or more than ninety (90) days after the date of such notice. During any period of time following a casualty where all or any portion of the Premises is not suitable for Lessee’s use, as reasonably determined by Lessee, than all rent due under this Lease shall be equitably abated during such period based on the extent to which Lessee’s use and enjoyment of the Premises is diminished.
Appears in 2 contracts
Samples: Lease (Opnext Inc), Lease (Opnext Inc)
Destruction. In If the event that any portion Real Property is totally or partially destroyed during the Term, rendering the Premises totally or partially inaccessible or unusable, then, subject to the remainder of this paragraph, (i) Landlord shall restore the Real Property to substantially the same condition as it was in immediately before such destruction, (ii) Landlord shall not be required to restore Tenant's Alterations, or Tenant's Personal Property, unless they are an integral part of the Premises are ----------- destroyed or damaged and specifically covered by an uninsured perilinsurance proceeds received by Landlord, Landlord or such excluded items being the sole responsibility of Tenant mayto restore, upon written notice to the other, given within thirty (30iii) days after the occurrence of such damage or destruction, elect to destruction shall not terminate this Lease; provided, however, that either party may, within thirty and (30iv) days after receipt all obligations of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event Tenant under this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in except that all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease Rent shall be abated in proportion to or reduced, between the date of such destruction and the date of substantial completion of restoration, by the ratio of (a) the area of the Premises rendered unusable or inaccessible by the destruction to (b) the usable area of the Premises prior to such destruction. Notwithstanding anything to the contrary in this Lease, Landlord may, at its election, terminate this Lease by so notifying Tenant in writing on or before the later of 60 days after such destruction or 60 days after Landlord's receipt of the proceeds from insurance maintained by Landlord, if (1) then-existing laws do not permit such restoration, (2) such destruction occurred during the last year of the Term, (3) such destruction exceeded 25 percent of the then-replacement value of the Premises or the Real Property, or (4) Landlord determines that the cost of such restoration exceeds the amount of insurance proceeds relating to such destruction actually received by Landlord from insurance maintained by Landlord. Additionally, Tenant shall have the right to terminate this Lease unless Landlord promptly notifies Tenant of its intention to restore the Premises and such restoration can reasonably suitable for be completed within 120 days of the conduct date of the destruction. If Landlord so terminates this Lease, then (A) Landlord shall have no obligation to restore the Real Property, (B) Landlord shall retain all insurance proceeds relating to such destruction, and (C) this Lease shall terminate as of 30 days after such notice of termination from Landlord to Tenant's business thereon. If Landlord restores the Premises as provided above, then Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 California Civil Code Sections 1932(2) and Section 1933, Subdivision 4 1933(4) or any successor statute with respect to any destruction of the California Civil CodePremises.
Appears in 1 contract
Samples: Lease (Paramark Enterprises Inc)
Destruction. In the event of a partial destruction of the Leased Premises, from any cause, the tenancy shall continue with rent proportionately abated. Landlord shall forthwith repair the same, provided that such repairs can be made within ninety (90) days from the partial destruction of Leased Premises under existing governmental laws and regulation, but such partial destruction shall not terminate this Lease. Tenant shall be entitled to a proportionate reduction of rent while such repairs are being made. If such repairs cannot be made within said ninety (90) days, Landlord shall, within twenty (20) of the partial destruction notify Tenant that repairs cannot be completed within ninety (90) days, and within five (5) days after such notification, Tenant shall, at its option, notify Landlord of its intent to remain upon Leased Premises or cancel this Lease, and if Tenant remains, Landlord shall have one hundred fifty (150) days from that date to complete repair, rent to be proportionately reduced as aforesaid. Repairs which cannot be completed within one hundred fifty (150) days, shall be done only with the election of both Landlord and Tenant. If such partial damage is due to the fault or negligence of Tenant, Tenant's servants, employees, agents, visitors or licensees, the damages shall be repaired by Landlord, but there will be no apportionment of rent. In the event that any portion the Building is destroyed to an extent more than one half (1/2) of the Premises are ----------- destroyed or damaged by an uninsured perilreplacement costs thereof, either Landlord or Tenant maymay terminate this Lease. Notwithstanding the above, upon written notice Landlord shall have no obligation to repair Leased Premises at any time within the other, given within last year of the Lease or the last year of any extension or renewal thereof. TWENTIETH: CONTINUOUS OCCUPANCY: Tenant shall with thirty (30) days after written notice to Landlord, be able to vacate but not abandon the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make Leased Premises at any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and time during the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restorationterm hereof. In the event that a receiver shall be appointed to take over the Premises are damaged or destroyed from any insured peril to the extent business of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after or in the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and that Tenant shall pay to Landlord upon commencement make a general assignment for the benefit of reconstruction the amount of creditors, or Tenant shall take or suffer any deductible from the insurance policyaction under any insolvency or bankruptcy act, not to exceed one month's rent provided in the case of earthquake an involuntary bankruptcy, such action shall not be vacated within sixty (60) consecutive days and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence filing of such damage an insolvency or destructionbankruptcy action, provide Tenant with written notice the same shall constitute a breach of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the this Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.
Appears in 1 contract
Samples: Lease Agreement (Nco Group Inc)
Destruction. In the event that any portion of the Premises are ----------- Building is destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event that the Premises are Building is damaged or destroyed from any insured peril and there are insufficient insurance proceeds available to repair or restore the extent of fifty percent (50%) or more of the then replacement cost of the PremisesBuilding, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, Tenant may, within thirty (30) days after receipt of such termination notice and in its sole discretion, elect to pay for any shortfall in funding the required repairs and/or restoration, in which event Tenant shall furnish Landlord such shortfall funds prior to the commencement of such repairs and/or restoration, this Lease shall remain in full force and effect, and Landlord shall thereafter diligently proceed with such repairs and/or restoration. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the PremisesBuilding and the sitework outside the perimeter walls of the Building, if damaged, to the extent of insurance proceeds available to Landlord. Any shortfall in which event insurance proceeds available to Landlord shallto rebuild or restore the Building shall be borne by Tenant and be made available by Tenant to Landlord prior to commencement of such rebuilding or restoration. Upon Landlord's receipt of such insurance proceeds and shortfall funds, at its expenseif applicable, Landlord shall promptly rebuild or restore the Premises applicable Building and such sitework to their condition prior to the damage or destruction and destruction. Tenant also shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are Building is damaged or destroyed from any an insured peril peril, and if there are adequate insurance proceeds available to Landlord to rebuild or restore the extent of less than fifty percent (50%) of the Building, then replacement cost of the Premises, Landlord shall, at Landlord's expense, shall promptly rebuild or restore the Premises applicable Building and also repair the sitework outside of the perimeter walls of the Building, if damaged, to their condition prior to the such damage or destruction and destruction. In such event, Tenant shall pay to Landlord upon commencement of reconstruction reconstruction, the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the PremisesBuilding, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the estimated time required for such repair or restoration. If such period is longer than two one hundred seventy eighty (270180) days from the issuance date of a building permitthe event causing such damage or destruction of the Building, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises a Building shall not include restoration of Tenant's trade fixtures, equipment, personal property or merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restorationrestoration to the Building, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event the Expansion Project, or any portion thereof, is damaged or destroyed, Landlord shall have no obligation to repair, restore or rebuild the same and Tenant shall have no right to terminate this Lease as a result thereof If any portion of the Expansion Project is damaged or destroyed, Tenant shall have the right, during the Lease Term, to rebuild or restore the same provided Tenant complies with the terms of the penultimate paragraph of Section 2 of this Lease above as the same relates to the construction or installation of the Expansion Project. If Tenant does not elect to rebuild or restore the damaged or destroyed Expansion Project, or applicable portion thereof, Tenant shall, at its sole cost, remove all debris and rubble from the Total Project caused by the damage or destruction of the Expansion Project, or applicable portion thereof, and maintain the balance of the Expansion Project in safe condition and repair.
Appears in 1 contract
Samples: Lease Agreement (New Focus Inc)
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged destroyed in whole or destroyed in part from any insured peril to the extent of fifty percent (50%) cause, except damage and destruction caused from vandalism or more of the then replacement cost of the Premisesaccident for which Tenant is responsible for under Xxxxxxxxx 00, Landlord Xxxxxxxx may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction destruction, or (b) Terminate this Lease, provided that (i) the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are Building is damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost thereof (i) the damage is not covered by insurance, provided that Landlord shall not have the right to terminate the Lease if the damage is relatively minor; e.g., repair or restoration would take fewer than thirty (30) days or would cost less than ten percent (10%) of the replacement cost of the PremisesBuilding ("Base Amount"), Landlord shallunless Tenant agrees to pay the cost of repair in excess of the Base Amount, at and/or (ii) the damage occurs during the last twelve (12) months of the Lease Term, unless Tenant has exercised Tenant's extension option (or has not yet had the opportunity to exercise the option, in which event Tenant shall thereupon have the right to exercise such option within ten (10) days after the date of Landlord's expense, promptly rebuild or restore notice to Tenant). Landlord shall give Tenant notice in writing within thirty (30) days from the destruction of the Premises of its election to their condition prior either rebuild and restore them, or to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other casesterminate this Lease. In the event that, pursuant to the foregoing provisions, Landlord is agrees to rebuild or restore the Premises, Landlord shallshall do so promptly at its expense. Unless such damage is caused by Tenant or Tenant's agents, within thirty or employees, and Landlord does not receive compensation by way of rental interruption insurance therefore, Tenant shall be entitled to an abatement of rent to the extent of the interference with Tenant's use of the Premises occasioned thereby. If Landlord initially estimates that the rebuilding or restoration will exceed ninety (3090) days after or if Landlord does not complete the occurrence of such damage rebuilding or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy restoration within ninety (27090) days from following the issuance date of a building permit, Tenant may, within thirty destruction (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes, causes or other contingencies beyond the control of Landlord), then Tenant shall have the right to terminate this Lease by giving ten (10) days prior written notice to Landlord. Notwithstanding anything herein in the contrary, Landlord's obligation to repair rebuild or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment (including telecommunications equipment, whether or not located within the Premises), merchandise, or any improvements, alterations alterations, or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease is not cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions any statutory rights of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 termination which may arise by reason of any partial or total destruction of the California Civil CodePremises. To the extent the damage or destruction of the Premises is caused by Tenant or Tenant's employees, agents or independent contractors, Tenant shall pay the deductible portion of Landlord's insurance proceeds.
Appears in 1 contract
Samples: Lease Agreement (Logic Devices Inc)
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, 18 Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not subject to exceed one month's rent limitations set forth in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. Paragraph 8.C. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not subject to exceed an amount equal to one month's rent limitations set forth in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. Paragraph 8.C. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two one hundred seventy eighty (270180) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agenciespublication, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or but shall include restoration of any improvements, alterations or additions made by Tenant to the Premises, pursuant to Paragraph 13. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code. If this Lease terminates pursuant to the provisions of this Paragraph 16, Tenant shall be entitled to receive that portion of the insurance proceeds attributable to the unamortized value of the improvements, alterations and additions to the Premises made and paid for by Tenant pursuant to Paragraph 13, which alterations, additions and improvements shall be amortized on a straight line basis over the initial Lease Term.
Appears in 1 contract
Samples: Sublease Agreement (Netgear Inc)
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expenseexpenses, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty ninety percent (5090%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, expense promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty ninety percent (5090%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two one hundred seventy eighty (270180) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agenciespublication, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.the
Appears in 1 contract
Destruction. In If, during the event that any portion term of this Lease, the Premises or the building and other improvements in which the Premises are ----------- located are totally or partially destroyed from any cause, rendering the Premises totally or damaged by an uninsured perilpractically inaccessible or unusable, Landlord shall restore the Premises or Tenant maythe building and other improvements in which the Premises are located to substantially the same condition as they were in immediately before destruction, upon written notice to if the otherrestoration can be made under the existing laws and can be completed within one hundred eighty (180) working days after the date of the destruction. Such destruction shall not terminate this Lease. If the restoration cannot be made in the time stated in this paragraph, given then within thirty fifteen (3015) days after the occurrence of such damage or destructionparties determine that the restoration cannot be made in the time stated in this paragraph, elect Tenant can terminate this Lease immediately by giving notice to Landlord. If Tenant fails to terminate this Lease; providedLease and if restoration is permitted under the existing laws, howeverLandlord, that at its election, can either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost terminate this Lease or restore the Premises or the building and expense, other improvements in which event the Premises are located within a reasonable time and this Lease shall remain continue in full force and effect. If the existing laws do not permit the restoration, either party can terminate this Lease immediately by giving notice to the other party. If there is destruction of the building and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event other improvements in which the Premises are damaged or destroyed from any insured peril to the extent of fifty located that exceeds thirty-three and one-third percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (5033 1/3%) of the then replacement cost value of the building and other improvements from any cause, Landlord can elect to terminate this Lease whether or not the Premises are rendered inaccessible or unusable, as long as Landlord terminates the lease of the other tenant in the building. In case of destruction there shall be an abatement or reduction of rent between the date of destruction and the date of completion of restoration, based on the extent to which the destruction interferes with Tenant's use of the Premises, provided that Landlord shallshall be entitled to the proceeds of the business interruption insurance required under Paragraph 11 (eleven), at Landlord's expense, promptly rebuild or restore F. If destruction to the Premises to their condition prior to occurs during the damage or destruction and Tenant shall pay to Landlord upon commencement last year of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisionsterm, Landlord is can terminate this Lease by giving notice to rebuild or restore the Premises, Landlord shall, within thirty Tenant not more than fifteen (3015) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.the
Appears in 1 contract
Samples: Sublease Termination Agreement (Valley National Corp /De/)
Destruction. In (a) If the event that any portion of the Demised Premises are ----------- destroyed or damaged by fire or other casualty, the same shall be repaired or rebuilt as speedily as practical under the circumstances at the expense of Landlord, unless this Lease is terminated as provided in this Article 22, and during the period required for restoration, a just and proportionate part of Base Rental shall be abated until the Demised Premises are repaired or rebuilt. __________________________(b) If the Demised Premises are (i) damaged to such an uninsured perilextent that repairs cannot, Landlord or Tenant mayin Landlord's judgment, upon written notice to the other, given be completed within thirty one hundred eighty (30180) days after the occurrence date of the commencement of repair of the casualty, or (ii) damaged or destroyed as a result of a risk which is not insured under the insurance policies required hereunder, or (iii) damaged or destroyed during the last eighteen (18) months of the Lease Term, or (iv) if the Building is damaged in whole or in part (whether or not the Demised Premises are damaged) to such an extent that the Building cannot, in Landlord's judgment, be operated economically as an integral unit, then and in any such event Landlord may at its option terminate this Lease by notice in writing to Tenant within sixty (60) days after the day of such damage occurrence. If the Demised Premises are damaged to such an extent that repairs cannot, in Landlord's judgment, be completed within one hundred eighty (180) days after the date of the commencement of repair of the casualty or destructionif the Demised Premises are substantially damaged during the last eighteen (18) months of the Lease Term, then in either such event Tenant may elect to terminate this Lease; provided, however, that either party may, Lease by notice in writing to Landlord within thirty fifteen (3015) days after receipt the date of such notice, elect occurrence. Unless Landlord or Tenant elects to make any required repairs and/or restoration at such party's sole cost and expense, in which event terminate this Lease shall as hereinabove provided, this Lease will remain in full force and effect, effect and the party having made Landlord shall repair such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril damage at its expense to the extent of fifty percent required under subparagraph (50%c) or more of below as expeditiously as possible under the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Codecircumstances.
Appears in 1 contract
Samples: Lease Agreement (Tenera Inc)
Destruction. In 22.1 Lessee shall give prompt notice to Lessor in case of any fire or other damage to the event that any portion Demised Premises or the building. If the Demised Premises shall be partially damaged by fire or other casualty insured under the Lessor's insurance policies, then upon Lessor's receipt of the insurance proceeds, Lessor shall, except as otherwise provided herein, promptly repair and restore the same (exclusive of Lessee's trade fixtures, decorations signs, improvements and contents) substantially to the condition thereof immediately prior to such damage or destruction limited, however the extent of the insurance proceeds actually received by Lessor; such repair and restoration to be completed within one hundred 180) days after the receipt by Lessor of the insurance proceeds: (i) If both the Demised Premises and the Demised Premises shall be damaged to the extent of twenty five (25%) percent or more of the cost of replacement thereof; (ii) the Demised Premises or the building of which the Demised Premises are ----------- a par shall be destroyed or partially damaged as a result of a risk not insured by an uninsured perilLessor; or (iii) the Demised Promises shall be damaged to the extent to twenty (20%) percent or more of the cost of replacement thereof during the last two (2) years of the Lease term (or any renewal term); or (iv) the building constituting the Demised Premises shall be damaged to the extent of fifty (50%) percent or more of the cost of replacement thereof whether or not the Demised Premises shall be damaged; or (v) if any individual retail space containing 20.000 or more square feet. if any. within the Demised Premises is damaged and such store or stores are not re-opened for business for a period of one hundred eighty (180) days after such damage or destruction, Landlord then or Tenant mayin any such event. Lessor may elect to repair the damage as aforesaid, upon or to cancel this Lease by written notice of cancellation given to Lessee within ninety (90) days after the otherdate of such occurrence, and thereupon this Lease shall cease and terminate with the same force and effect as though the time set forth in the Lessor's said notice were the date herein fixed for the expiration of the Lease term; and Lessee shall vacate and surrender the Demised Premises to Lessor. Upon the termination of this Lease, as addressed, Lessee's liability from the Minimum Guaranteed Rent and other charges reserved hereunder shall cease as of the date of such damage or destruction the Lessor shall make an equitable refund of any Minimum Guaranteed Rental and other charges paid by Lessee in advance and not earned. If there is a destruction, as set forth in subdivision (iii) or (v) of this Article. Lessee shall have a like option to terminate, but under subdivision (iii). Lessee shall give notice thereof before Lessor commences repair or restoration, and in any event such notice shall be given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.
Appears in 1 contract
Samples: Lease (Nutek Inc)
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the estimated time required for such repair or restoration. If such period is longer than two one hundred seventy eighty (270180) days from the issuance date of a building permitthe event causing such damage or destruction of the Premises, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvementsimprovements (including the initial improvements installed pursuant to Exhibit "C"), alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.
Appears in 1 contract
Destruction. In the event that any portion of the Premises premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty Twenty (3020) days after the occurrence of such damage or destruction, elect to terminate this Leaselease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not policy applicable to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other casesPremises. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty Twenty (3020) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy One Hundred Twenty (270120) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease lease by giving written notice to Landlord of such election, whereupon the Lease lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, embargoes rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.
Appears in 1 contract
Samples: Lease Agreement (Nanometrics Inc)
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy NINETY (27090) days from the issuance of a building permit, WHICH TIME FOR RECEIPT OF A BUILDING PERMIT SHALL NOT EXCEED TWENTY (20) DAYS, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. IF LANDLORD UNDERTAKES SUCH REPAIRS AND IS NOT COMPLETED WITHIN ONE HUNDRED TWENTY (120) DAYS, TENANT HAS THE RIGHT TO TERMINATE THE LEASE, UPON WRITTEN NOTICE TO LANDLORD. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agenciespublication, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.
Appears in 1 contract
Destruction. In Destruction" shall mean damage or destruction ------------- ------------ to the event that Building, or any portion thereof, by any peril not required to be insured against by Landlord pursuant to this Lease and the cost of repair of which is greater than 30% of the Premises are ----------- destroyed fair market value thereof immediately prior to such damage or damaged destruction. If, at any time during the Term of this Lease, there is damage to the Building or the Premises, (including destruction required by an uninsured perilany authorized public authority) which falls into the classification of Destruction, Landlord or and Tenant may, upon shall each have the right to terminate this Lease by giving the other party written notice of such election to the other, given terminate within thirty (30) days after following such Destruction. Upon the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt giving of such notice, elect this Lease shall terminate as of the date of such Destruction. Notwithstanding the foregoing, if this Lease has been terminated pursuant to make the foregoing provisions, but Landlord completes rebuilding of the Premises or the Building during the Term, then Landlord shall notify Tenant of such completion and Tenant shall have the right but not the obligation to re-occupy the Premises upon the same terms and conditions as set forth in this Lease. Subject to the provisions of the sections regarding Condemnation and Damage ------------ ------ Near The End of Term, if at any required repairs and/or restoration time during the Term of this Lease, there is -------------------- damage which does not fall within the classification of Destruction, Landlord will repair such damage as soon as reasonably possible at such partyLandlord's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain continue in full force and effect; provided, however, that during any period of repairs if Landlord does not fully restore the Premises, the Building, or restoration, rent and all other amounts the Common Areas or the affected portion thereof to be paid by Tenant on account tenantability within sixty (60) days from the date of the Premises and casualty, Tenant may then terminate this Lease, retroactive to the date of the casualty. Notwithstanding anything to the contrary contained herein, Tenant shall have the right to terminate this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct by giving Landlord written notice of Tenant's business thereon. Tenant hereby expressly waives election to do so within thirty (30) days following any damage if the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 reasonably estimated time required to repair or restore exceeds sixty (60) days from the date of the California Civil Codedamage.
Appears in 1 contract
Samples: Lease (Synplicity Inc)
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) 30 days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, provided however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restorationrestorations. In the event that any portion of the Premises are destroyed or damaged or destroyed from any insured by an uninsured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shallevent, Landlord, shall at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agenciespublication, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.
Appears in 1 contract
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed in whole or in part from any insured peril to cause, or in the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore any utility service servicing the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premisesbecomes completely inoperable, Landlord shall, at Landlord's expensewithin fifteen (15) business days of the event of such damage, promptly rebuild destruction or restore cessation of service, notify Tenant in writing as to the approximate length of time necessary for Landlord to reconstruct the Premises to their substantially its former condition prior or to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible have such utility services restored. If such estimate exceeds one hundred eighty (180) days from the insurance policydate of damage, not to exceed an amount equal to one month's rent in destruction or cessation of service, either party shall have the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shalloption, within thirty (30) days after of Landlord’s notice, to terminate this Lease as to only the occurrence Building as to which the damage or cessation has occurred or, if, as a result of such damage, destruction or cessation of service, Tenant is only able to occupy four (4) Buildings under both this Lease and the Phase 2 Lease, then in that event, Tenant may terminate this Lease in its entirety as well as the Phase 2 Lease in it’s entirety. In addition, if the reconstruction of the Premises or restoration of the utility service exceeds Landlord’s estimate, as set forth in Landlord’s notice, Tenant shall, once it becomes clear that such estimate will be exceeded until such time as the reconstruction or restoration is complete, have the right to terminate this Lease as to the Building as to which the damage or destructioncessation has occurred or, provide if, as a result of such damage, destruction or cessation of service, Tenant with written notice of is only able to occupy four (4) Buildings under both this Lease and the time required for such repair or restorationPhase 2 Lease, Tenant may terminate this Lease in its entirety as well as the Phase 2 Lease Lease in it’s entirety. If such period a termination occurs, the obligations under this Lease shall be equitably revised based on the square footage of the Premises terminated in relation to the total square footage of the Premises prior to termination. If neither party elects to terminate, or if neither party is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect entitled to terminate the Lease by giving written notice to under this Paragraph, Landlord of such electionshall promptly, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of Godat its sole expense, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair rebuild or restore the Premises or the utilities to substantially the condition existing prior to the date of damage, destruction or cessation of service. Tenant shall be entitled to a reduction in rent while such repair is being made in the proportion that the area of the Premises is rendered unusable bears to the total square footage of the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the building, interior improvements and utilities as they existed as of the Commencement Date of the Lease, but shall not include (a) restoration of Tenant's ’s trade fixtures, equipment, merchandise, merchandise or any improvements, alterations or additions made by Tenant to the Premises, or (b) any damage caused by the act or breach of this Lease by Tenant, which damage Tenant shall forthwith replace or fully repair at Tenant’s sole cost and expense. Unless this Lease is terminated a termination occurs pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts effect as to be paid by Tenant on account the entirety of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereonPremises. Tenant hereby expressly waives the provisions of Section section 1932, Subdivision 2 2, and Section section 1933, Subdivision 4 of the California Civil Code. Notwithstanding anything to the contrary set forth above, in the event the damage or destruction of the Premises (i) occurs during the last two years of the term (unless any applicable extension option has been exercised) and (ii) has rendered at least 50% of the Premises unusable by Tenant, Landlord shall have the option during the aforementioned fifteen (15) business day period to elect not to rebuild the Premises by so notifying Tenant, in which case Tenant may elect to terminate this Lease and/or the Phase 2 Lease by so notifying Landlord. Notwithstanding the foregoing, in the event Landlord elects not to rebuild or restore the Premises or any Building constituting a portion of the Premises, and notifies Tenant that Landlord desires to terminate the Lease as to that Building, Tenant may, by providing written notice to Landlord within 30 days of the date it receives notice of Landlord’s intent to terminate, elect to rebuild one or more of the Buildings which were so damaged. In the event Tenant makes the election set forth herein, then this Lease shall continue in full force and effect, and any insurance proceeds for the damage being repaired by Tenant shall be assigned to and paid over to Tenant to the extent Tenant pays the same for such restoration. Tenant shall then immediately Charleston Intuit Lease Phase 1—Buildings 1-5 August 4, 2003—Final commence, at its sole cost and expense, restoring such Buildings to the condition they were in prior to the date of such destruction.
Appears in 1 contract
Samples: Lease Agreement (Intuit Inc)
Destruction. In If by reason of a fire or other casualty affecting the event that any portion of Demised Premises or the Shopping Center, (a) the Demised Premises are ----------- destroyed or is rendered wholly untenantable, (b) the Demised Premises shall be damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty twenty percent (5020%) or more of the then replacement current cost of replacement thereof, (c) the PremisesDemised Premises or Shopping Center is damaged as a result of a risk which is not covered by Landlord's insurance, (d) the Demised Premises or the Shopping Center is damaged in whole or in part during the last two (2) years of the Term, (e) the Shopping Center (whether the Demised Premises is damaged or not) is damaged to the extent of twenty-five percent (25%) or more of the then current replacement cost, (f) any or all of the Shopping Center or Common Areas of the Shopping Center are damaged (whether or not the Demised Premises is damaged) to such an extent the Shopping Center cannot, in the sole judgment of Landlord, be operated as an integral unit, or (g) any mortgagee of the Demised Premises shall retain the insurance proceeds for application to reduction of any obligation of Landlord mayto such mortgagee, then in any such event, (A) Landlord may elect to either (i) repair or rebuild the Demised Premises or the Shopping Center or (ii) terminate this Lease upon written giving notice of such election to Tenant, given Tenant within thirty sixty (3060) days after such event, and thereupon this Lease shall expire, and Tenant shall vacate and surrender the occurrence of such damage Demised Premises to Landlord or destruction, (B) Tenant may elect to terminate this Lease. If Lease upon giving notice of such election to Landlord does not give within sixty (60) days after such notice in writing within such periodevent, Landlord and thereupon this Lease shall be deemed to have elected to rebuild or restore the Premisesexpire, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay vacate and surrender the Demised Premises to Landlord Landlord. Tenant's liability for Rent upon commencement termination of reconstruction this Lease shall cease as of the amount day such event occurred causing termination of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other casesthis Lease. In the event Landlord elects to repair the damage insurable under Xxxxxxxx's policies, and Tenant elects not to terminate this Lease, any abatement of Annual Base Rent shall end five (5) days after notice by Landlord to Tenant that the Demised Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premiseshave been repaired. If this Lease is not terminated as provided above, Landlord shall, at Landlord's expenseafter Landlord receives adequate insurance proceeds therefor, promptly rebuild or restore commence and complete the Premises repair of same to their the condition that existed prior to the damage destruction, and Annual Base Rent shall be abated proportionately as to that portion of the Demised Premises rendered untenantable. Notwithstanding the foregoing, Landlord shall not be obligated to expend for such repair an amount in excess of the insurance proceeds received by Landlord as a result of such damage, and in no event shall Landlord be required to repair or destruction replace Tenant's stock in trade, fixtures, furniture, furnishings, and equipment. Upon Landlord's substantial completion of restoration of the Demised Premises, Tenant shall pay to Landlord upon commencement of reconstruction promptly reinstall its furniture, fixtures and equipment and prepare the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, Demised Premises for occupancy pursuant to the foregoing provisionsoriginal plans approved by Landlord, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence such other plans as are approved by Landlord. Upon completion of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permitwork, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate shall reopen for business for the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminatePermitted Use. The period of time for Landlord to complete the repair or restoration Nothing in this paragraph shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability construed to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Codexxxxx additional rent.
Appears in 1 contract
Samples: Retail Lease
Destruction. In the event that any portion of a partial destruction of the Premises building or appurtenances during the term from a cause which is insured under Lessor's fire and extended coverage insurance, Lessor shall forthwith repair the same, provided such repairs can be made within ninety (90) days under the laws and regulations of the state, county, federal, or municipal authorities, but such partial destruction shall not annul or void this lease, except that Lessee shall be entitled to a proportionate reduction of rent while such repairs are ----------- destroyed being made, such proportionate reduction to be based upon the extent to which the making of such repairs interferes with the business carried on by Lessee in the premises. If the partial destruction is caused by a casualty which is not insured under Lessor's fire and extended coverage insurance or damaged if such repairs cannot be made in ninety (90) days, either Lessor or Lessee may terminate this lease by an uninsured peril, Landlord or Tenant may, upon giving written notice to the other, given other party within thirty (30) days after the occurrence of damage occurs. If the lease is not terminated, Lessor shall make such damage or destruction, elect to terminate repairs within a reasonable time with this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain lease continuing in full force and effect, effect and the party having made such election to restore or repair shall thereafter diligently proceed with such rent proportionately reduced while the repairs and/or restorationare being made. In the event the Premises building in which the premises are damaged or located is destroyed from any insured peril to the extent of fifty percent (50%) or more not less than 33-1/3% of the then current replacement cost of the Premisesthereof, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, Lessor may elect to terminate this Leaselease, regardless of whether the premises are damaged, whether the partial destruction is caused by casualty which is covered by insurance, or whether the repairs can be made within ninety (90) days. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore A total destruction of the Premises, building in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant premises are located shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other casesterminate this lease. In the event the Premises are damaged or destroyed from respect to any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or partial destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord which Lessor is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation obligated to repair or restore may elect to repair under the Premises shall not include restoration terms of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions this paragraph and which can be made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives within ninety (90) days the provisions of Section 1932, Subdivision 2 2, and of Section 1933, Subdivision 4 4, of Civil Code of the State of California Civil Codeare waived by Lessee. In the event of termination of this lease pursuant to any of the provisions of this paragraph, rent and Lessee's portion of any tax increase shall be apportioned on a per diem basis and shall be paid to the date of the casualty. In no event shall Lessor be liable to Lessee for any damages resulting to Lessee from the happening of such casualty or from the repairing or reconstruction of the premises or of the building, or from the termination of this lease as herein provided, nor shall Lessee be relieved thereby or in any such event from Lessee's obligations hereunder except to the extent and upon the conditions expressly stated in this paragraph.
Appears in 1 contract
Samples: Getthere Com
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured perilA. If, Landlord or Tenant may, upon written notice prior to the otherClosing Date, given within thirty either (30x) days after a Material Casualty occurs, or (y) the occurrence interest of such damage 550/330 Seller as lessee under the Mamaroneck Ground Leases and/or the 330 Ground Lease is terminated as a result of a fire or destructionother casualty, then 550/330 Seller shall promptly notify Purchaser thereof and Purchaser may elect to terminate this Lease; providedAgreement (I) as to the Mamaroneck Property or the 330 Property affected by such occurrence or (II) in its entirety, however, that in either party may, within thirty case upon notice to 550/330 Seller given not later than ten (3010) business days after Purchaser's receipt of such notice, elect 550/330 Seller's notice (as to make any required repairs and/or restoration at such party's sole cost and expense, in which event ten (10) business day period time is of the essence). If this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed Agreement is terminated with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril respect to the extent of fifty percent Mamaroneck Property only, as aforesaid, then (50%i) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord 550/330 Purchase Price shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction reduced by the amount of the Mamaroneck Purchase Price, (ii) no party shall have thereafter any deductible from the insurance policycontinuing rights, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged duties or destroyed from any insured peril obligations hereunder with respect to the extent of less than fifty percent Mamaroneck Property (50%except that the parties' obligations under Section 10 and Section 15.9 hereof shall survive said termination), and (iii) said termination shall not affect Seller's or Purchaser's obligations hereunder with respect to the 2 Park Interest or the 330 Property nor entitle Purchaser to the return of the then replacement cost Letter of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior Credit as a result thereof. If this Agreement is terminated with respect to the damage or destruction and Tenant 330 Property only, as aforesaid, then (i) the 550/330 Purchase Price shall pay to Landlord upon commencement of reconstruction be reduced by the amount of the 330 Purchase Price, (ii) no party shall have thereafter any deductible from the insurance policycontinuing rights, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant duties or obligations hereunder with respect to the foregoing provisions330 Property (except that the parties' obligations under Section 10 and Section 15.9 hereof shall survive said termination), Landlord is and (iii) said termination shall not affect Seller's or Purchaser's obligations hereunder with respect to rebuild the 2 Park Interest or restore the Premises, Landlord shall, within thirty (30) days after Mamaroneck Property nor entitle Purchaser to the occurrence of such damage or destruction, provide Tenant with written notice return of the time required for such repair or restorationLetter of Credit as a result thereof. If such period this Agreement is longer than two hundred seventy (270) days from the issuance of a building permitterminated in its entirety, Tenant mayas aforesaid, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration then Purchaser shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant entitled to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account return of the Premises Letter of Credit, and this Lease thereupon, no party shall be abated in proportion to have thereafter any continuing rights, duties or obligations hereunder (except that the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of parties' respective obligations under Section 1932, Subdivision 2 10 and Section 1933, Subdivision 4 of the California Civil Code15.9 hereof shall survive said termination).
Appears in 1 contract
Samples: Sale Purchase Agreement (Mendik Real Estate Limited Partnership)
Destruction. In If the event that any portion Project is totally or partially destroyed during the Term, rendering the Premises totally or partially inaccessible or unusable, then, subject to the remainder of this Paragraph, (i) Landlord shall restore the Project to substantially the same condition as it was in immediately before such destruction, (ii) Landlord shall not be required to restore Tenant’s Alterations or Tenant’s Personal Property, unless they are an integral part of the Premises are ----------- destroyed and specifically covered by insurance proceeds received by Landlord, such excluded items being the sole responsibility of Tenant to restore, (iii) such destruction shall not terminate this Lease, and (iv) all obligations of Tenant under this Lease shall remain in effect, except that the Basic Monthly Rent shall be abated or damaged reduced, between the date of such destruction and the date of completion of restoration, by an uninsured perilthe ratio of (a) the area of the Premises rendered unusable or inaccessible by the destruction to (b) the area of the Premises prior to such destruction. Notwithstanding anything to the contrary in this Lease, Landlord or Tenant may, upon written notice at its election, terminate this Lease by so notifying Tenant in writing on or before the later of one hundred twenty (120) days after such destruction or sixty (60) days after Landlord’s receipt of the proceeds from insurance maintained by Landlord, if (A) then-existing laws do not permit such restoration, (B) such destruction occurs during the last year of the Term (provided, however, that Landlord shall restore the Premises as set forth above if such destruction occurs while Tenant has the right to exercise the otherOption and Tenant has exercised the Option), given within (C) such destruction exceeds fifty percent(50%) of the then-replacement value of the Premises, the Building, or the Project or (D) Landlord determines that the cost of such restoration exceeds the amount of insurance proceeds relating to such destruction actually received by Landlord from insurance maintained by Landlord. If Landlord so terminates this Lease, then (1) Landlord shall have no obligation to restore the Project, (2) Landlord shall retain all insurance proceeds relating to such destruction, and (3) this Lease shall terminate as of thirty (30) days after such notice of termination from Landlord to Tenant. If Landlord restores the occurrence Premises as provided above, then Tenant waives the provisions of such damage California Civil Code Sections 1932(2) and 1933(4) or destruction, elect any successor statute with respect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt any destruction of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restorationPremises. In the event Landlord restores the Premises are damaged or destroyed from following any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policyimmediately refixturize, not to exceed one month's rent in the case of earthquake re-equip, and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of restock the Premises and this Lease shall be abated in proportion to the area of re-open the Premises rendered not for business as soon thereafter as is reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Codepracticable.
Appears in 1 contract
Destruction. In (i) If, prior to the event that Purchase Closing Date, any part of the Premises is damaged or destroyed by fire or other casualty, Optionor shall promptly notify Optionee in writing of such fact. If the portion of the Premises are ----------- so damaged or destroyed or damaged by an uninsured perilexceeds twenty percent (20%) of the rentable square feet of the Premises (a “Significant Portion”), Landlord or Tenant may, upon written notice Optionee shall have the option to terminate the Agreement as to the other, given within transaction that is the subject of the applicable Purchase Option Notice upon thirty (30) days after the occurrence of such damage or destructiondays’ notice to Optionor, elect to terminate this Lease; provided, however, that either party may, within such thirty (30) days after receipt day period Optionor may, at its option, but subject to the terms and conditions of the Condominium Documents, notify Optionor that it intends to repair such notice, elect to make any required repairs and/or restoration damage at such party's its sole cost and expense, and Optionor may, upon such notice, postpone the Purchase Closing for a period of time reasonably necessary, but not to exceed ninety (90) days in which event this Lease the aggregate, to make such repairs. If Optionee shall remain in full force and effectelect to terminate the Agreement as aforesaid, and Optionor shall not notify Optionee within such thirty (30) day period of its intention to make such repairs, then the Deposit shall be promptly returned to Optionee whereupon the Agreement shall terminate as to the transaction that is the subject of the applicable Purchase Option Notice and neither party having made shall have any further rights or obligations hereunder with respect thereto other than those that expressly survive such election termination. If Optionee does not elect to restore terminate the Agreement as provided above, or repair shall thereafter diligently proceed with such repairs and/or restoration. In if the event portion of the Premises are so damaged or destroyed from any insured peril to the extent of fifty percent (50%) or is not more of the then replacement cost than a Significant Portion of the Premises, Landlord mayOptionee shall accept the Premises in its then “as is” condition with no abatement of the Purchase Price, upon written notice and at the Purchase Closing Optionor shall assign and turn over to TenantOptionee, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord and Optionee shall be deemed entitled to have elected make a claim for and to rebuild or restore receive and keep, all of Optionor’s interest in and to all casualty insurance proceeds payable in connection with such casualty, and Optionee shall receive a credit against the PremisesPurchase Price at the Purchase Closing in the amount of (a) any deductible payable by Optionor in connection with casualty coverage, in which event Landlord shallplus (b) the insurance proceeds, at its expenseif any, promptly rebuild or restore the Premises to their condition actually received by Optionor prior to the damage Purchase Closing, minus (c) the reasonable out-of-pocket costs actually incurred or destruction and Tenant shall paid by Optionor in collecting the proceeds and/or in making any repairs; provided, that the insurer confirms in writing its willingness to pay to Landlord upon commencement of reconstruction Optionee the full amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement estimated cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore restoration of the Premises (less the deductible), or Optionor grants to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed Optionee a credit in an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In difference between the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice full amount of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from estimated cost of the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion the amount the insurer agrees to pay to Optionee. This Section 15 is an express agreement to the area contrary of Section 5-1311 of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil CodeNew York General Obligation Law.
Appears in 1 contract
Destruction. If the Leased Premises should be damaged or destroyed by fire or other casualty, Tenant shall give immediate written notice thereof to Landlord. In case the Leased Premises shall be partially or totally damaged or destroyed by fire or other casualty insurable under standard extended risk insurance as to become partially or totally untenable, after date of notification by Tenant to Landlord of the happening of the damage, Tenant, at its sole cost, provided insurance proceeds are made available by Landlord and by its lender in an amount to fully pay for such repairs, shall proceed forthwith to repair or restore such damage as nearly as practicable to the condition and character prior to such damage or destruction within a reasonable time (subject to reasonable time allowance for the purpose of adjusting the insurance loss and for unavoidable delay), unless Landlord or Tenant elects to terminate this Lease as hereinafter provided. In the event that more than forty percent (40%) of any portion of building on the Leased Premises are ----------- shall be destroyed by fire or other casualty insurable under standard risk insurance, or in the event any building on the Leased Premises shall be damaged or destroyed to any extent by an uninsured perila casualty other than those covered by fire and standard extended coverage risk insurance, Landlord or then and in such event, Tenant may, if it so elects, rebuild or put said building in good condition and fit for occupancy within a reasonable time after date of notification of the destruction or damage, or may, upon written notice to the other, given within thirty (30) days after written notice given within forty-five (45) days of the occurrence date of such damage notification of the destruction or destructiondamage, elect to terminate this LeaseLease as to the portion of the premises so destroyed, with the rent to xxxxx pro rata for the Camp Family Parcels of by the amount of rent payable under the Third Party Leases, to the extent permitted in the Third Party Leases; provided, however, Tenant may not partially terminate this Lease with respect to that either party may, within thirty (30) days after receipt portion of the property so damaged if such terminated portion is of such notice, elect a size or configuration that it has little or no economic value to make any required repairs and/or restoration at such party's sole cost and expenseLandlord, in which event Tenant shall have the right to terminate this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed Sublease with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril respect to the extent entire Leased Premises unless, in lieu of fifty percent (50%) or more such total termination, Landlord elects to allow the partial termination with respect to that portion of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect premises so partially damaged. Unless Tenant elects to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration. In the event tenant elects to rebuild, rent shall xxxxx ratably, providing that Tenant diligently pursues completion of any required restoration. If the Lease is canceled or partially terminated by reason of such damage or destruction, any insurance proceeds for damage to the Leased Premises, not including Tenant's fixtures, machinery, equipment, and all other amounts to be paid personal property, whether obtained by Tenant on account or Landlord, shall belong to Landlord, free and clear of any claims by Tenant. Any insurance proceeds for damage to Tenant's fixtures, equipment, machinery, and other personal property, shall belong to Tenant, free and clear of any claims by Landlord. In the event the parking area shall be materially and substantially damaged by reason of any casualty to such an extent as to render the same untenable in whole or in a substantial part thereof, then Tenant, at its option, may terminate this Lease, as to the portion of the Premises and this Lease shall be abated in proportion parking area so damaged, by giving written notice to the area other not later than ninety (90) days after the date of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Codesuch damage.
Appears in 1 contract
Samples: Lithia Motors Inc
Destruction. In If the event Building is totally or partially destroyed during the Term, rendering the Premises totally or partially inaccessible or unusable, then, subject to the remainder of this Paragraph, (i) Landlord shall promptly commence work necessary to restore the Building to substantially the same condition as it was in immediately before such destruction and shall diligently prosecute such restoration work until completed, (ii) Landlord shall not be required to restore Tenant’s Alterations or Tenant’s Personal Property, unless they are specifically covered by insurance proceeds received by Landlord, such excluded items being the sole responsibility of Tenant to restore, (iii) such destruction shall not terminate this Lease (except as provided below), and (iv) all obligations of Tenant under this Lease shall remain in effect, except that any portion the Basic Monthly Rent and Additional Rent shall be abated or reduced, between the date of such destruction and the date of Substantial Completion of restoration, by the ratio of (a) the Rentable Square Footage of the Premises are ----------- destroyed rendered unusable or damaged inaccessible by an uninsured perilthe destruction, to (b) the Rentable Square Footage of the Premises prior to such destruction. Notwithstanding anything to the contrary in this Paragraph, either party shall have ten business days from the date of Landlord’s determination that this sentence applies to the subject destruction/reconstruction, in which to terminate this Lease if Landlord determines that (1) it will likely take more than either (A) 330 days following the date of such casualty, or (B) 270 days from obtaining all required permits for such reconstruction, in which to complete such work, (2) such destruction (which is not de minimus in nature) occurs during the last year of the Term, or (3) then existing laws do not permit such restoration. Additionally, Landlord may, at its election, terminate this Lease by so notifying Tenant in writing on or before the later of 60 days after such destruction or 30 days after Landlord’s receipt of the proceeds (or written notice of the amount of proceeds) from insurance maintained by Landlord, if (I) such destruction exceeds twenty percent (20%) of the then replacement value of the Premises, the Building, or the Project, or (II) Landlord reasonably determines that the cost of such restoration will exceed the amount of insurance proceeds relating to such destruction actually received by Landlord from insurance maintained by Landlord, excluding deductibles, by more than five percent (5%) of such cost of restoration. If Landlord or Tenant mayso terminates this Lease, upon written notice then (x) Landlord shall have no obligation to restore the otherProject, given within thirty (30y) Landlord shall retain all insurance proceeds relating to such destruction, and (a) this Lease shall terminate as of 30 days after such notice of termination from Landlord to Tenant. Tenant hereby waives the occurrence provisions of California Civil Code Sections 1932(2) and 1933(4) or any successor statute with respect to any destruction of the Premises. If Landlord restores the Premises following any such destruction, Tenant shall immediately refixturize, re-equip, and (if applicable) restock the Premises and shall re-open the Premises for business as soon thereafter as is reasonably practicable. If Tenant does not intend to so reopen the Premises for business, it must notify Landlord in writing within 20 business days of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost whereupon Landlord may cease its repair work and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Additionally, if Landlord does not give fails to Substantially Complete such notice in writing restoration work within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permityear, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving 30 days’ written notice to Landlord of delivered after such election, whereupon the Lease shall immediately terminate. The year (during which period of time for Landlord to complete the repair or such restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of Godis not Substantially Completed), acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless terminate this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil CodeLease.
Appears in 1 contract
Samples: Bumble Bee Capital Corp.
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed in whole or in part from any insured peril to cause, or in the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore any utility service servicing the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premisesbecomes completely inoperable, Landlord shall, at Landlord's expensewithin fifteen (15) business days of the event of such damage, promptly rebuild destruction or restore cessation of service, notify Tenant in writing as to the approximate length of time necessary for Landlord to reconstruct the Premises to their substantially its former condition prior or to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible have such utility services restored. If such estimate exceeds one hundred eighty (180) days from the insurance policydate of damage, not to exceed an amount equal to one month's rent in destruction or cessation of service, either party shall have the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shalloption, within thirty (30) days after of Landlord’s notice, to terminate this Lease as to only the occurrence Building as to which the damage or cessation has occurred or, if, as a result of such damage, destruction or cessation of service, Tenant is only able to occupy four (4) Buildings under both this Lease and the Phase 1 Lease, then in that event, Tenant may terminate this Lease in its entirety as well as the Phase 1 Lease in it’s entirety. In addition, if the reconstruction of the Premises or restoration of the utility service exceeds Landlord’s estimate, as set forth in Landlord’s notice, Tenant shall, once it becomes clear that such estimate will be exceeded until such time as the reconstruction or restoration is complete, have the right to terminate this Lease as to the Building as to which the damage or destructioncessation has occurred or, provide if, as a result of such damage, destruction or cessation of service, Tenant with written notice of is only able to occupy four (4) Buildings under both this Lease and the time required for such repair or restorationPhase 1 Lease, Tenant may terminate this Lease in its entirety as well as the Phase 1 Lease in it’s entirety. If such period a termination occurs, the obligations under this Lease shall be equitably revised based on the square footage of the Premises terminated in relation to the total square footage of the Premises prior to termination. If neither party elects to terminate, or if neither party is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect entitled to terminate the Lease by giving written notice to under this Paragraph, Landlord of such electionshall promptly, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of Godat its sole expense, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair rebuild or restore the Premises or the utilities to substantially the condition existing prior to the date of damage, destruction or cessation of service. Tenant shall be entitled to a reduction in rent while such repair is being made in the proportion that the area of the Premises is rendered unusable bears to the total square footage of the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the building, interior improvements and utilities as they existed as of the Commencement Date of the Lease, but shall not include (a) restoration of Tenant's ’s trade fixtures, equipment, merchandise, merchandise or any improvements, alterations or additions made by Tenant to the Premises, or (b) any damage caused by the act or breach of this Lease by Tenant, which damage Tenant shall forthwith replace or fully repair at Tenant’s sole cost and expense. Unless this Lease is terminated a termination occurs pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts effect as to be paid by Tenant on account the entirety of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereonPremises. Tenant hereby expressly waives the provisions of Section section 1932, Subdivision 2 2, and Section section 1933, Subdivision 4 of the California Civil Code. Notwithstanding anything to the contrary set forth above, in the event the damage or destruction of the Premises (i) occurs during the last two years of the term (unless any applicable extension option has been Charleston Intuit Lease Phase 2-Buildings A-F August 4, 2003-Final exercised) and (ii) has rendered at least 50% of the Premises unusable by Tenant, Landlord shall have the option during the aforementioned fifteen (15) business day period to elect not to rebuild the Premises by so notifying Tenant, in which case Tenant may elect to terminate this Lease and/or the Phase 1 Lease by so notifying Landlord. Notwithstanding the foregoing, in the event Landlord elects not to rebuild or restore the Premises or any Building constituting a portion of the Premises, and notifies Tenant that Landlord desires to terminate the Lease as to that Building, Tenant may, by providing written notice to Landlord within 30 days of the date it receives notice of Landlord’s intent to terminate, elect to rebuild one or more of the Buildings which were so damaged. In the event Tenant makes the election set forth herein, then this Lease shall continue in full force and effect, and any insurance proceeds for the damage being repaired by tenant shall be assigned to and paid over to Tenant to the extent Tenant pays the same for such restoration. Tenant shall then immediately commence, at its sole cost and expense, restoring such Buildings to the condition they were in prior to the date of such destruction.
Appears in 1 contract
Samples: Lease Agreement (Intuit Inc)
Destruction. 17.01. In the event that case of total destruction of the Premises, or any portion of the Premises are ----------- destroyed substantially interfering with Tenant's use thereof, whether by fire or damaged by an uninsured perilother casualty, Landlord or Tenant may, upon written notice this Lease shall terminate except as provided in this Article 17. If such destruction occurs prior to the othersecond (2nd) anniversary of the Lease Commencement Date, then Landlord shall repair such damage within two hundred twenty-five (225) days of the date of such damage or destruction, and this Lease shall not terminate, but shall continue in full force and effect. In the event such destruction occurs on or after the second (2nd) anniversary of the Lease Commencement Date, if (I) Landlord notifies Tenant in writing within forty-five (45) days of such destruction of Landlord's election to repair said damage, (II) Landlord reasonably estimates that such repairs can be completed within one hundred eighty (180) days of the date of Landlord's notice, and (III) Landlord proceeds to and does repair such damage within such one hundred eighty (180) day period, this Lease shall not terminate, but shall continue in full force and effect. Except as provided in Section 17.02 below, Tenant shall be entitled to a reduction in the Base Monthly Rent in an amount equal to that proportion of the Base Monthly Rent which the number of square feet of floor space in the unusable portion bears to the total number of square feet of floor space in the Premises. Said reduction shall be prorated so that the rent shall only be reduced for those days any given area is actually unusable. In the event the damage or destruction occurs prior to the second (2nd) anniversary of the Lease Commencement Date or in the event Landlord elects pursuant to the foregoing provisions to continue the Lease and restore the Premises as specified above, and Landlord has not substantially completed such restoration within the applicable time period specified above, then after the expiration of the applicable time period, Tenant may provide to Landlord a notice of its intention to terminate this Lease (a "Termination Notice"). In the event Landlord substantially completes the restoration within thirty (30) days after of receipt of a Termination Notice, then this Lease shall not terminate. In the occurrence of event Landlord does not substantially complete the restoration within such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such noticeday period, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event then this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more terminate as of the then replacement cost expiration of the Premises, Landlord may, upon written notice to Tenant, given within such thirty (30) days after day period. All restoration obligations and time periods specified in this Article 17 shall be subject to and extended by the occurrence provisions of such damage or destruction, elect to terminate this LeaseSection 38.11 below. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisionsthis Section 17 and if Tenant is not in default hereunder, this Lease shall remain in full force after applicable grace, notice and effect; provided, however, that during any period of repairs or restorationcure periods, rent shall be prorated as of the date of termination, any security deposited with Landlord shall be returned to Tenant, less any reasonable offsets and all other amounts to be paid by Tenant on account of the Premises rights and this Lease obligations hereunder shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 cease and Section 1933, Subdivision 4 of the California Civil Codeterminate.
Appears in 1 contract
Samples: Brightpoint Inc
Destruction. In If the event that any portion Real Property is totally or partially destroyed during the Term, rendering the Premises totally or partially inaccessible or unusable, then, subject to the remainder of this Paragraph, (a) Landlord shall restore the Real Property to substantially the same condition as it was in immediately before such destruction including the Tenant Improvements, (b) Landlord shall not be required to restore Tenant's Alterations, or Tenant's Personal Property, unless they are an integral part of the Premises are ----------- destroyed and specifically covered by insurance proceeds received by Landlord, such excluded items being the sole responsibility of Tenant to restore, (c) such destruction shall not terminate this Lease, and (d) all obligations of Tenant under this Lease shall remain in effect, except that Adjusted Minimum Monthly Rent shall be abated or damaged reduced, between the date of such destruction and the date of completion of restoration, by an uninsured perilthe ratio of (i) the area of the Premises rendered unsuitable or inaccessible by the destruction to (ii) the area of the Premises prior to such destruction. Notwithstanding anything to the contrary in this Lease, Landlord or Tenant may, upon written notice to at its election, terminate this Lease by so notifying the other, given within thirty (30) other party in writing on or before the later of 60 days after such destruction or 60 days after Landlord's receipt of the occurrence proceeds from insurance maintained by Landlord, if (A) then-existing laws do not permit such restoration, (B) such destruction occurred during the last year of the Term, (C) such destruction exceeded 25 percent of the then-replacement value of the Premises or the Real Property, or (D) Landlord determines that the cost of such damage or restoration exceeds the amount of insurance proceeds relating to such destruction actually received by Landlord from insurance maintained by Landlord. If Landlord so terminates this Lease, then (1) Landlord shall have no obligation to restore the Real Property, (2) Landlord shall retain all insurance proceeds relating to such destruction, elect to terminate this Lease; provided, however, that either party may, within thirty and (303) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more terminate as of the then replacement cost date of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore restores the Premises to their condition prior to the damage or destruction and as provided above, then Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 California Civil Code Sections 1932(2) and Section 1933, Subdivision 4 1933(4) with respect to any destruction of the California Civil CodePremises.
Appears in 1 contract
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured perilperil to the extent of five percent (5%) or more of the then replacement cost of the Premises, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction Tenant's Pro-Rata Share of the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises or by any uninsured peril to the extent of less than five percent (5%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction Tenant's Pro-Rata Share of the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two one hundred seventy eighty (270180) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminateterminate as of the date of destruction. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.
Appears in 1 contract
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, any peril not covered by the insurance required to be carried by Landlord or Tenant may, upon written notice pursuant to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate terms Of this Lease, then Landlord shall, at its sole cost and expense, promptly restore the Premise, and this Lease shall continue in full force and effect unless Tenant otherwise terminates this Lease as provided hereinbelow; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect Landlord shall have the right to make any required repairs and/or restoration at such party's sole cost and expense, in which event terminate this Lease shall remain in full force and effect, and if the party having made such election to restore cost of the restoration or repair shall thereafter diligently proceed with such repairs and/or restorationexceeds ten percent (10%) of the replacement cost of -the Building, unless Tenant otherwise agrees to contribute the balance of the Cost of restoration or repair in excess of said ten percent (10k) amount. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%-t) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in i-n which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction -reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases). In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's , s expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant :shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases). In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice -- of the time required for such repair or restoration. If such period is longer than two one hundred seventy eighty (270180) days from the issuance date of a building permitcasualty, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord Land-lord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of GodLandlord, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's s obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Landlord and Tenant shall each have the right to terminate the Lease if (i) such damage to the Premises occurs during the last year of the term of the Lease and (ii) it is estimated that necessary repairs will take more than sixty (60) days from the date of casualty, unless Tenant exercises its option to extend this Lease within thirty (30) days of the date of casualty. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period however,'-that from and after the date of casualty until the repairs or restorationrestoration are completed by Landlord, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.
Appears in 1 contract
Samples: Sublease Agreement (Verisign Inc/Ca)
Destruction. In If the event that any portion of Project, the Building, the Common Areas or the Premises are ----------- is totally or partially destroyed during the Term, rendering the Premises totally or damaged by an uninsured perilpartially inaccessible, Landlord untenantable or Tenant mayunusable, upon written notice then, subject to the otherremainder of this Paragraph, given within thirty (30i) days after Sublessor shall restore the occurrence of Project to substantially the same condition as it was in immediately before such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30ii) days after receipt of such notice, elect to make any Sublessor shall not be required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore Subtenant’s Alterations or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises Subtenant’s Personal Property, unless they are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account integral part of the Premises and specifically covered by insurance proceeds received by Sublessor, such excluded items being the sole responsibility of Subtenant to restore, (iii) such destruction shall not terminate this Lease Sublease, and (iv) all obligations of Subtenant under this Sublease shall remain in effect, except that the Basic Monthly Rent shall be abated in proportion to or reduced, between the date of such destruction and the date of completion of restoration, by the ratio of (a) the area of the Premises rendered unusable, untenantable or inaccessible by the destruction to (b) the area of the Premises prior to such destruction. Notwithstanding anything to the contrary in this Sublease, either Subtenant or Sublessor may, at its election, terminate this Sublease by so notifying the other in writing on or before the later of 120 days after such destruction or 60 days after Sublessor’s receipt of the proceeds from insurance maintained by Sublessor, if (A) then-existing laws do not reasonably suitable for permit such restoration, (B) such destruction occurs during the conduct last year of Tenant's business thereonthe Term, (C) such destruction exceeds twenty-five percent (25%) of the then-replacement value of the Premises or the Building, or (D) Sublessor determines that the cost of such restoration exceeds the amount of insurance proceeds relating to such destruction actually received by Sublessor from insurance maintained by Sublessor. Tenant hereby expressly If Sublessor or Subtenant so terminates this Sublease, then (1) Sublessor shall have no obligation to restore the Project, (2) Sublessor shall retain all insurance proceeds relating to such destruction, and (3) this Sublease shall terminate as of 30 days after such notice of termination. Regardless of whether Sublessor restores the Premises as provided above, Subtenant waives the provisions of Section 1932, Subdivision 2 California Civil Code Sections 1932(2) and Section 1933, Subdivision 4 1933(4) or any successor statute with respect to any destruction of the California Civil CodePremises.
Appears in 1 contract
Samples: Sublease Agreement (iVOW, Inc.)
Destruction. In Tenant shall give prompt notice to Landlord in case of any fire or other damage to the event that any portion Premises. If (a) the Premises shall be damaged to the extent of thirty percent (30%) or more of the Premises are ----------- destroyed costs of replacement thereof during the last two (2) years of the Lease Term or (b) the buildings constituting the Shopping Center shall be damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of replacement thereof during the Premiseslast two (2) years of the Lease Term, whether or not the Premises shall be damaged, or (c) any of the Department Stores adjoining the Shopping Center are damaged and such store(s) does not intend to reopen for business after such damage and destruction, then or in any such events, Landlord may(as to [a], upon [b] and [c], and Tenant (as to [a] and [b]) shall have the right and option to cancel this Lease by written notice to Tenant, given within thirty ninety (3090) days after the occurrence date of such occurrence, and this Lease shall thereupon cease and terminate with the same force and effect as though such date were the date fixed for the expiration of the Lease Term. In such case, Tenant shall vacate and surrender the Premises to Landlord. Tenant's liability for the rents and other charges reserved hereunder shall cease as of the later of the date of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, destruction or the date of termination and vacation of the Premises and Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount make an equitable refund of any deductible from the insurance policy, not to exceed one month's rent rents or other charges paid by Tenant in the case of earthquake advance and not to exceed Ten Thousand Dollars ($10,000.00) in all other casesearned or accrued. In the event the Premises are damaged or destroyed from any insured peril this Lease is terminated, Tenant covenants and agrees to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policyproceeds payable to Tenant under the property insurance policies mentioned under Paragraph 38, not to exceed an amount equal to one month's rent in subparagraph (b) (i) and (b) (ii), which obligation shall survive the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice expiration of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the PremisesTerm. Unless this Lease is terminated pursuant to the foregoing provisionsby Landlord or Tenant, this Lease shall remain in full force and effect; providedeffect and the parties waive the provisions of any law to the contrary, however, and Landlord and Tenant agree that during any period the Premises shall be repaired and restored,with due diligence to substantially the condition thereof immediately prior to such damage or destruction in conformity with the approved working drawings (plans and specifications) under Exhibit "B." Landlord's obligation to repair and restore shall be limited to the repair and restoration of repairs or restoration, rent and all other amounts the work required to be paid insured by Landlord under the provisions of Paragraph 38(a) hereof. Tenant's obligation to repair and restore shall be the repair and restoration of the work required to be insured by Tenant on account under the provisions of Paragraph 38(b) hereof. Tenant shall continue the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct operation of Tenant's business thereon. Tenant hereby expressly waives in the provisions Premises or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Codeprudent business management.
Appears in 1 contract
Samples: Casa Ole Restaurants Inc
Destruction. In If the event that Leased Premises or the Building, at any portion time during the term, are damaged in whole or in part by fire, flood, tornado or by the elements, or by Act of God, or by the Premises are ----------- destroyed public enemy or damaged by an uninsured perilotherwise, Landlord or Tenant may, upon shall give prompt written notice to Landlord. If the otherLeased Premises or the Building are substantially damaged, given then this Lease and the Term, at the election of the Landlord, shall either terminate or if Landlord shall elect to rebuild and restore the Building, this Lease shall continue in full force and effect. Landlord agrees to notify Tenant of its election within thirty (30) days after the occurrence following Tenant's notice or Landlord's discovery of such damage. Upon its election to restore, if Landlord can not reasonably expect to complete restoration within ninety (90) days following the expiration of Landlord's thirty (30) day period to notify Tenant of its election to resolve, then Landlord shall so notify Tenant, and Tenant shall have the right to terminate this Lease. Base Rent, Additional Rent and other charges payable under the Lease shall be equitably abated during the period of Landlord's restoration or repair. If the Leased Premises or the Building are damaged but not substantially damaged, or if Landlord elects to restore the Building after substantial damage, Landlord shall repair the damage and restore the Leased Premises to substantially the same condition as existed immediately prior to the damage with reasonable dispatch but no such restoration or destructionrepair shall in any event be completed later than one hundred twenty (120) days following Tenant's notice or Landlord's discovery of damage. In the event Landlord is unable to complete said restoration or repair within said one hundred twenty (120) days Tenant shall have the right to terminate this Lease. However, Landlord's obligation to restore does not include restoring leasehold improvements or Tenant's fixtures, equipment and property. If Landlord gives Tenant a termination notice, this Lease and the Term shall terminate on the date specified in the termination notice, with the same effect as though that date were the scheduled Termination Date, and Base Rent, Additional Rent and other charges payable under this Lease shall be apportioned and paid up to the date of the damage, and any prepaid unearned rent or other charges shall forthwith be repaid by Landlord to Tenant. If Tenant gives Landlord a termination notice this Lease shall terminate on the date specified and any prepaid unearned rent or other charges, including without limitation the security deposit shall forthwith be repaid by Landlord. Notwithstanding anything to the contrary contained in this Section 14, in the event the Leased Premises is substantially damaged and Landlord should elect to terminate this Lease; providedLease as provided herein, howeverupon receipt of Landlord's written notice of its election to terminate, that either party mayTenant, within thirty fifteen (3015) days after following receipt of such noticenotice may, elect at its option, elect, by the giving of written notice to make any required repairs and/or restoration Landlord, to continue this Lease and rebuild the Leased Premises to substantially the same condition as existed immediately prior to the damage at such party's its sole cost and expenseexpense provided such repairs can be completed within ninety (90) days following Tenant's notice to Landlord of such election. A proportionate share of Base Rent, in which event and Additional Rent and other charges payable under the Lease shall be abated during the repair order period. Upon Landlord's receipt of Tenant's notice to continue this Lease Landlord's notice of termination shall remain in full force be deemed null and effect, void and Tenant shall be entitled to all insurance proceeds received or to be received by Landlord on account of such substantial damage. "Substantially damaged" for the party having made such election to restore or repair purposes of this Section shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril be defined as damage to the extent Building in excess of fifty percent (50%) of either the rentable floor area or more the Building's replacement cost. Notwithstanding the foregoing, if insurance proceeds recovered shall be insufficient to restore the Leased Premises in accordance with this Section, and Landlord elects to rebuild, then Landlord promptly shall notify Tenant of the then replacement cost estimated amount of the Premises, Landlord may, upon written notice to Tenant, given within thirty such insufficiency. Within fifteen (3015) days after receiving Landlord's written notice pursuant to the occurrence preceding sentence, Tenant will notify Landlord of Tenant's election either: (i) to pay such damage or destruction, elect insufficiency to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the PremisesLandlord, in which event case, Landlord shallwill rebuild; or (ii) not to pay such insufficiency, at its expensein which case, promptly unless Landlord elects to rebuild or restore notwithstanding the Premises to their condition prior to insufficiency, this Lease will terminate as of the date on which the damage or destruction occurred, and rent and other charges will be apportioned and paid to that termination date, and any prepaid unearned rent and other charges and security deposit will be repaid to Tenant. Tenant shall pay be entitled to Landlord upon commencement an abatement of reconstruction rent for the amount of any deductible from period during which the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Leased Premises are damaged or destroyed from any insured peril to rendered untenantable for the extent of less than fifty percent (50%) Permitted Use. If only a part of the then replacement cost of Building is rendered untenantable for the PremisesPermitted Use, the rent shall be reduced proportionately. If the Building is so damaged that it is necessary in Landlord's sole discretion, to demolish the Building for restoration or reconstruction, Landlord shallmay demolish the Building, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's in which case rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to as though the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil CodeBuilding were substantially damaged.
Appears in 1 contract
Samples: Lease Agreement (Suntek Corp)
Destruction. 17.01 In the event that case of total destruction of the Premises, or any portion of the Premises are ----------- destroyed substantially interfering with Tenant's use thereof, whether by fire or damaged by an uninsured perilother casualty, Landlord or Tenant may, upon written notice this Lease shall terminate except as provided in this Article 17. If such destruction occurs prior to the othersecond (2nd) anniversary of the Lease Commencement Date, then Landlord shall repair such damage within two hundred twenty-five (225) days of the date of such damage or destruction, and this Lease shall not terminate, but shall continue in full force and effect. In the event such destruction occurs on or after the second (2nd) anniversary of the Lease Commencement Date, if (I) Landlord notifies Tenant in writing within forty-five (45) days of such destruction of Landlord's election to repair said damage, (II) Landlord reasonably estimates that such repairs can be completed within one hundred eighty (180) days of the date of Landlord's notice, and (III) Landlord proceeds to and does repair such damage within such one hundred eighty (180) day period, this Lease shall not terminate, but shall continue in full force and effect. Except as provided in Section 17.02 below, Tenant shall be entitled to a reduction in the Base Monthly Rent in an amount equal to that proportion of the Base Monthly Rent which the number of square feet of floor space in the unusable portion bears to the total number of square feet of floor space in the Premises. Said reduction shall be prorated so that the rent shall only be reduced for those days any given area is actually unusable. In the event the damage or destruction occurs prior to the second (2nd) anniversary of the Lease Commencement Date or in the event Landlord elects pursuant to the foregoing provisions to continue the Lease and restore the Premises as specified above, and Landlord has not substantially completed such restoration within the applicable time period specified above, then after the expiration of the applicable time period, Tenant may provide to Landlord a notice of its intention to terminate this Lease (a "Termination Notice"). In the event Landlord substantially completes the restoration within thirty (30) days after of receipt of a Termination Notice, then this Lease shall not terminate. In the occurrence of event Landlord does not substantially complete the restoration within such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such noticeday period, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event then this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more terminate as of the then replacement cost expiration of the Premises, Landlord may, upon written notice to Tenant, given within such thirty (30) days after day period. All restoration obligations and time periods specified in this Article 17 shall be subject to and extended by the occurrence provisions of such damage or destruction, elect to terminate this LeaseSection 38.11 below. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain Section 17 and if Tenant is not in full force and effect; provided, however, that during any period of repairs or restorationdefault hereunder, rent shall be prorated as of the date of termination, any security deposited with Landlord shall be returned to Tenant, less any reasonable offsets and all other amounts to be paid by Tenant on account of the Premises rights and this Lease obligations hereunder shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 cease and Section 1933, Subdivision 4 of the California Civil Codeterminate.
Appears in 1 contract
Samples: Brightpoint Inc
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event neither parr~ xxects to terminate this Lease as provided in the foregoing sentence, then Landlord shall be deemed to have elected to restore or repair the Premises at Landlord's sole cost and expense, in which event this Lease shall remain in full force and effect and Landlord shall thereafter diligently proceed with such repairs and/or restoration. For purposes of this paragraph, the term "uninsured peril" shall not include a peril which would have been covered by Landlord if Landlord had carried the insurance required under the terms of this Lease. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%50~) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%50~) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Landlord and Tenant with written notice shall each have the right to terminate this Lease if (a) the damage to the Premises occurs at any time during the last eighteen (18) months of the time required for such repair or restoration. If such period Lease Term and (b) it is longer estimated that the necessary repairs will take more than two hundred seventy sixty (27060) days to complete from the issuance date of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premisesdamage. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.
Appears in 1 contract
Destruction. In If the event Building is totally or partially destroyed during the Term, rendering the Premises totally or partially inaccessible or unusable, then, subject to the remainder of this Paragraph, (i) Landlord shall promptly commence work necessary to restore the Building to substantially the same condition as it was in immediately before such destruction and shall diligently prosecute such restoration work until completed, (ii) Landlord shall not be required to restore Tenant’s Alterations or Tenant’s Personal Property, unless they are specifically covered by insurance proceeds received by Landlord, such excluded items being the sole responsibility of Tenant to restore, (iii) such destruction shall not terminate this Lease (except as provided below), and (iv) all obligations of Tenant under this Lease shall remain in effect, except that any portion the Basic Monthly Rent and Additional Rent shall be abated or reduced, between the date of such destruction and the date of Substantial Completion of restoration, by the ratio of (a) the Rentable Square Footage of the Premises are ----------- destroyed rendered unusable or damaged inaccessible by an uninsured perilthe destruction, to (b) the Rentable Square Footage of the Premises prior to such destruction. Notwithstanding anything to the contrary in this Paragraph, either party shall have ten business days from the date of Landlord’s determination that this sentence applies to the subject destruction/reconstruction, in which to terminate this Lease if Landlord determines that (1) the existing laws do not permit such restoration, or (2) such destruction (which is not de minimis in nature) occurs during the last year of the Term. Additionally, Landlord or Tenant may, upon written notice to at its election, terminate this Lease by so notifying Tenant in writing on or before the other, given within later of one hundred twenty (120) days after such destruction or thirty (30) days after Landlord’s receipt of the occurrence proceeds (or written notice of the amount of proceeds) from insurance maintained by Landlord, if (I) such destruction exceeds twenty percent (20%) of the then replacement value of the Premises, the Building, or the Project, or (II) Landlord reasonably determines that the cost of such restoration will exceed the amount of insurance proceeds relating to such destruction actually received by Landlord from insurance maintained by Landlord, excluding deductibles. If Landlord or Tenant so terminates this Lease, then (x) Landlord shall have no obligation to restore the Project, (y) Landlord shall retain all insurance proceeds relating to such destruction, and (z) this Lease shall terminate as of thirty (30) days after such notice of termination from Landlord to Tenant. If Landlord restores the Premises following any such destruction, Tenant shall immediately refixturize, re-equip, and (if applicable) restock the Premises and shall re-open the Premises for business as soon thereafter as is reasonably practicable. If Tenant does not intend to so reopen the Premises for business, it must notify Landlord in writing within twenty (20) business days of such damage or destruction, elect to whereupon Landlord may cease its repair work and terminate this Lease; provided. Additionally, howeverif Landlord fails to Substantially Complete such restoration work within one year, that either party Tenant may, within by thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving days’ written notice to Landlord of delivered after such election, whereupon the Lease shall immediately terminate. The year (during which period of time for Landlord to complete the repair or such restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of Godis not Substantially Completed), acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless terminate this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil CodeLease.
Appears in 1 contract
Destruction. In the event that any portion of If the Premises are ----------- destroyed or damaged by fire or other casualty, they shall be repaired or rebuilt as speedily as practical under the circumstances at the expense of Landlord, unless the Lease is terminated as provided in this Section; and during the period required for restoration, a just and proportionate part of Rent shall be abated until the Premises are repaired or rebuilt. If (i) the Premises are damaged to such an uninsured perilextent that repairs cannot, in Landlord’s judgment, be completed within one hundred eighty (180) days after the date of the commencement of repair of the casualty, or (ii) the Premises are damaged or destroyed as a result of a risk which is not insured under the insurance policies required under the Lease, or (iii) the Premises are damaged or destroyed during the last eighteen (18) months of the Lease Term, or (iv) the Building is damaged in whole or in part (whether or not the Premises are damaged) to such an extent that the Building cannot, in Landlord’s judgment, be operated economically as an integral unit, then Landlord at its option may terminate this Lease by notice in writing to Tenant within sixty (60) days after the occurrence of the event triggering the right of termination. If the Premises are (i) damaged to such an extent that repairs cannot, in Landlord’s judgment, be completed within one hundred eighty (180) days after the date of the commencement of repair of the casualty, or (ii) substantially damaged during the last eighteen (18) months of the Lease Term, then Tenant may, upon written may elect to terminate this Lease by notice in writing to Landlord within the other, given within later of (x) thirty (30) days after the occurrence of such damage the event triggering the right of termination or destruction(y) in the case of (i) above, elect fifteen (15) days after Landlord’s notice to Tenant that repairs cannot be completed within one hundred eighty (180) days. Unless Landlord or Tenant elects to terminate this Lease; providedLease as provided above, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this the Lease shall will remain in full force and effect, and Landlord shall repair the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril damage at its expense to the extent required under the following paragraph and as expeditiously as possible under the circumstances. If Landlord should elect or be obligated pursuant to the preceding provisions of fifty percent (50%) this Section to repair or more rebuild because of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such any damage or destruction, elect Landlord’s obligation shall be limited to the original Building and any other work or improvements which were originally performed or installed at Landlord’s expense as described in Exhibit D or with the proceeds of any Tenant Improvement Allowance. The cost of performing the repairs in excess of the Tenant Improvement Allowance shall be Tenant’s responsibility. If the cost of performing the repairs exceeds the actual proceeds of insurance paid or payable to Landlord on account of the casualty, or if Landlord’s mortgagee or the lessor under a ground or underlying lease shall require that any insurance proceeds from a casualty loss be paid to it, Landlord may terminate this Lease. If In no event shall Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild liable for any loss or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and sustained by Tenant shall pay to Landlord upon commencement by reason of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, casualties mentioned above or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Codeaccidental casualty.
Appears in 1 contract
Samples: Lease Agreement (Adamas One Corp.)
Destruction. In If the event Building is totally or partially destroyed during the Term, rendering the Premises totally or partially inaccessible or unusable, then, subject to the remainder of this Paragraph 29, (i) Landlord shall promptly commence work necessary to restore the Building to substantially the same condition as it was in immediately before such destruction and shall diligently prosecute such restoration work until completed, (ii) Landlord shall not be required to restore Tenant's Alterations or Tenant's Personal Property, unless they are fixtures in the Premises and they are specifically covered by insurance proceeds received by Landlord, such excluded items being the sole responsibility of Tenant to restore, (iii) such destruction shall not terminate this Lease (except as provided below), and (iv) all obligations of Tenant under this Lease shall remain in effect, except that any portion the Basic Monthly Rent and Additional Rent shall be abated or reduced, between the date of such destruction and the date of Substantial Completion of restoration, by the ratio of (a) the Rentable Square Footage of the Premises are ----------- destroyed rendered unusable or damaged inaccessible by an uninsured perilthe destruction, to (b) the Rentable Square Footage of the Premises prior to such destruction. Notwithstanding anything to the contrary in this Paragraph, either party shall have 10 business days from the date of Landlord’s determination that this sentence applies to the subject destruction/reconstruction, in which to terminate this Lease if Landlord determines that (1) it will likely take more than either (A) 330 days following the date of such casualty, or (B) 270 25 American Assets Trust – Lease Form 1/31/2023 days after obtaining all required permits for such reconstruction, in which to complete such work, (2) such destruction (which is not de minimus in nature) occurs during the last year of the Term, or (3) then-existing Laws do not permit such restoration. Additionally, Landlord may, at its election, terminate this Lease by so notifying Tenant in writing on or before the later of 60 days after such destruction or 30 days after Landlord's receipt of the proceeds (or written notice of the amount of proceeds) from insurance maintained by Landlord, if (l) such destruction exceeds 20% of the then‑replacement value of the Premises, the Building, or the Project, or (ll) Landlord reasonably determines that the cost of such restoration will exceed the amount of insurance proceeds relating to such destruction actually received by Landlord from insurance maintained by Landlord, excluding deductibles, by more than 5% of such cost of restoration. If Landlord or Tenant mayso terminates this Lease, upon written notice then (x) Landlord shall have no obligation to restore the otherProject , given within thirty (30y) Landlord shall retain all insurance proceeds relating to such destruction, and (z) this Lease shall terminate as of 30 days after such notice of termination from Landlord to Tenant. Tenant hereby waives the occurrence provisions of California Civil Code Sections 1932(2) and 1933(4) or any successor statute with respect to any destruction of the Premises. If Landlord restores the Premises following any such destruction, Tenant shall immediately refixturize, re-equip, and (if applicable) restock the Premises and shall re-open the Premises for business as soon thereafter as is reasonably practicable, not to exceed 60 days. If Tenant does not intend to so reopen the Premises for business, it must notify Landlord in writing within 20 business days of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost whereupon Landlord may cease its repair work and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Additionally, if Landlord does not give fails to Substantially Complete such notice in writing restoration work within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permityear, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving 30 days’ written notice to Landlord of delivered after such election, whereupon the Lease shall immediately terminate. The year (during which period of time for Landlord to complete the repair or such restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of Godis not Substantially Completed), acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless terminate this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil CodeLease.
Appears in 1 contract
Destruction. In (a) Tenant shall give prompt notice to Landlord in case of any fire or other damage to the event that any portion Demised Premises or the building of which they form a part. If the Demised Premises shall be partially damaged by fire or other casualty required to be insured under Landlord's insurance policies, then upon Landlord's receipt of insurance proceeds for such damage, Landlord, except as otherwise provided herein, shall proceed with so much of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice repair and restoration of the same to substantially the other, given within thirty (30) days after the occurrence of condition that existed immediately prior to such damage or destruction, elect to terminate this Leaseexclusive of Tenant's fixtures, equipment and inventory and the Existing Equipment; providedlimited, however, that either party mayto the extent of the insurance proceeds actually received by Landlord therefor. All repairs and restoration of the Demised Premises not included above by Landlord shall be performed by Tenant, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's its sole cost and expense, in which event this Lease promptly and with due diligence. If (i) the Shopping Center or the Demised Premises shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are be damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of replacement thereof, or (ii) the PremisesDemised Premises or the building of which the Demised Premises form a part shall be destroyed or substantially damaged as a result of a risk not insured by Landlord hereunder, or (iii) the Demised Premises shall be damaged to the extent of twenty percent (20%) or more of the cost of replacement thereof during the last two (2) years of the Lease Term (or any renewal term), then or in any of such events, either Landlord mayor Tenant may elect either to repair the damage as aforesaid, upon or to cancel this Lease by written notice of cancellation given to Tenant, given the other party within thirty ninety (3090) days after the date of an occurrence as specified in subparagraphs (i), (ii), or (iii) of this Paragraph 20, and thereupon this Lease shall cease and terminate with the same force and effect as though the date set forth in the Landlord's said notice were the date herein fixed for the expiration of the Lease Term; and Tenant shall vacate and surrender the Demised Premises to Landlord. Upon the termination of this Lease, as aforesaid, Tenant's liability for the rent shall cease as of the date of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, destruction and Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount make an equitable refund of any deductible from the insurance policy, not to exceed one month's rent paid by Tenant in the case of earthquake advance and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premisesearned. Unless this Lease is terminated pursuant to the foregoing provisionsby Landlord, as aforesaid, this Lease shall remain in full force and effect; provided, however, that during any period . If by reason of repairs such fire or restoration, rent and all other amounts to be paid casualty not caused by Tenant on account of the Demised Premises and this Lease is rendered wholly untenantable, the Fixed Minimum Rent shall be fully abated, or if only partially damaged, such Fixed Minimum Rent shall be abated in proportion proportionately as to that portion of the Demised Premises rendered untenantable (having due regard to the area extent to which Tenant may be required to discontinue its business in the Demised Premises [e.g., the damage or destruction of Tenant's projection booth shall render one or more entire theatre auditoriums untenantable]), in either event (unless Landlord or Tenant shall elect to terminate this Lease as aforesaid) until fifteen (15) days after notice by Landlord to Tenant that the Demised Premises rendered not reasonably suitable for have been substantially repaired and restored to the conduct extent required hereunder of Landlord or until Tenant's business operations are restored in the entire Demised Premises, whichever shall occur sooner. Tenant shall continue the operation of Tenant's business thereonin the part of Demised Premises so damaged or any part thereof not so damaged during any such period to the extent reasonably practicable from the standpoint of prudent business management. Tenant shall not be entitled to and hereby expressly waives the provisions all claims against Landlord for any compensation or damage for loss of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 use of the California Civil Codewhole or any part of the Demised Premises and for any inconvenience or annoyance occasioned by any such damage, destruction, repair or restoration.
Appears in 1 contract
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event neither party elects to terminate this Lease as provided in the foregoing sentence, then Landlord shall be deemed to have elected to restore or repair the Premises at Landlord's sole cost and expense, in which event this Lease shall remain in full force and effect and Landlord shall thereafter diligently proceed with such repairs and/or restoration. For purposes of this paragraph, the term "uninsured peril" shall not include a peril which would have been covered by Landlord if Landlord had carried the insurance required under the terms of this Lease. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%5011) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the 24 occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the 'insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other casespo licy. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy one hundred eighty (270180) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. If the repairs or restoration are not completed within two hundred seventy (270) days after the date of the damage or destruction, Tenant may elect to terminate this Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agenciespublication, labor disputes, strikes, strikes fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Landlord and Tenant shall each have the right to terminate this Lease if (a) the damage to the Premises occurs at any time during the last eighteen (18) months of the Lease Term and (b) it is estimated that the necessary repairs will take more than sixty (60) days to complete from the date of the damage. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect; 25 provided, however, that during any period of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business Tenaxx'x xusiness thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933, Subdivision 4 of the California Civil Code.
Appears in 1 contract
Destruction. In the event that any portion of the Premises are ----------- destroyed or damaged by an uninsured peril, Landlord or Tenant may, upon written notice to the other, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to cause and the extent repair of fifty such damage will cost more than thirty-three percent (5033%) or more of the then replacement cost of the Premises, Landlord Lessor may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expenseoption, promptly (1) rebuild or restore the Premises to their condition prior to the damage or destruction or (2) terminate the Lease, subject to the terms and conditions of this Section 15. If the damage to the Premises will cost more than thirty-three percent (33%) of the replacement cost of the Premises and Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the Premises of its election either to rebuild and restore the Premises, or to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to its condition prior to the damage or destruction. If Landlord does not complete the rebuilding and restoration within one hundred eighty (180) days following the date of destruction (it being understood that in no event shall the rebuilding and restoration be deemed complete unless and until the Premises are no longer Untenantable and the Common Areas functional for all purposes hereunder), then Tenant shall pay have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Landlord’s obligation to rebuild or restore shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations, or additions made by Tenant to the Premises. In the event that the Premises are damaged or destroyed to the extent of less than thirty-three and one-third percent (33 1/3%) of the replacement cost thereof, Landlord upon commencement of reconstruction at its expense, shall promptly rebuild or restore the amount of any deductible from Premises to its condition prior to the insurance policydamage or destruction, not unless Tenant exercises its right to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other casesterminate this Lease. In the event the Premises are damaged or destroyed in whole or in part from any insured peril cause, or, if any fire, earthquake, flood or other casualty or destruction of any kind or nature shall render the Premises completely or partially Untenantable for any period, then, provided that such casualty or destruction was not caused by the willful misconduct of Tenant, Rent shall be abated (in the proportion that the rentable portion of the Untenantable area of the Premises bears to the extent of less than fifty percent (50%) total rentable area of the then replacement cost Premises for the period during which the Premises are Untenantable) beginning on the date of such damage, destruction or casualty until, as applicable, termination of this Lease or thirty (30) days after the date on which the Premises (or such portion thereof) is no longer Untenantable and Landlord has given written notice to Tenant that the Premises are no longer Untenantable and a certificate of occupancy for the Premises, Landlord shallas restored following such damage, at Landlord's expensedestruction or casualty has been obtained (if such certificate is required by applicable law). The term “Untenantable,” when used with respect to the Premises, promptly rebuild or restore any portions thereof, shall mean that the Premises, or any portion thereof, is not reasonably capable of being used by Tenant for its intended purpose or that the continuance of Tenant’s business from the Premises to their condition prior to the is impractical as a consequence of a casualty, damage or destruction (as reasonably determined by Tenant). Within thirty (30) days following any damage, destruction or casualty, Landlord shall cause to be prepared and delivered to Tenant a written estimate of the date by which all restoration work necessitated by such casualty or destruction shall pay be completed (which estimate shall be prepared by an independent reputable contractor, registered architect or licensed professional engineer designated by Landlord, and reasonably approved by Tenant) (such estimate being herein called the “Restoration Completion Estimate”). If the Restoration Completion Estimate is a date later than the date that is one hundred eighty (180) days after the date of such casualty or destruction, or the such casualty or destruction occurs during the last one hundred twenty (120) days of the Term (as may have been extended by the Extension Term), then, provided that such damage, destruction or casualty was not the direct or indirect result of Tenant’s willful misconduct, Tenant may elect to terminate this Lease by providing Landlord upon commencement written notice no later than thirty (30) days following delivery of reconstruction the amount of any deductible from the insurance policyRestoration Completion Estimate to Tenant or, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars damage, destruction or casualty occurring in the last one hundred twenty ($10,000.00120) in all other cases. In days of the event that, pursuant to Term (as may have been extended by the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shallExtension Term), within thirty (30) days after the occurrence of such damage damage, destruction or destruction, provide casualty. Landlord and Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to agree that the foregoing provisionsprovisions of this Section 16 are to govern their respective rights and obligations in the event of any damage, this Lease shall remain destruction or casualty and supersede and are in full force and effect; provided, however, that during any period lieu of repairs or restoration, rent and all other amounts to be paid by Tenant on account of the Premises and this Lease shall be abated in proportion to the area of the Premises rendered not reasonably suitable for the conduct of Tenant's business thereon. Tenant hereby expressly waives the provisions of any applicable law, statute, ordinance, rule, regulation, order or ruling now or hereafter in force which provide remedies for damage or destruction of Premises (including, without limitation, the provisions of California Civil Code Section 1932, Subdivision 2 Subsection 2, and Section 1933, Subdivision Subsection 4 and any successor statute or laws of the California Civil Codea similar nature).
Appears in 1 contract
Samples: Lease (Mobileiron, Inc.)
Destruction. In If during the event that Term of this Lease, any portion of the Premises are ----------- destroyed or damaged by an uninsured perilPremises, Landlord or Tenant may, upon written notice access to the otherPremises or any part of the PROJECT which is essential to the use of the Premises is damaged or destroyed and such damage or destruction can, given in Landlord's reasonable estimation, be repaired within thirty (30) 180 days after the occurrence of following such damage or destruction, elect to terminate this Lease; provided, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, and the party having made such election to restore or repair shall thereafter diligently proceed with such repairs and/or restoration. In the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of the Premises, Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease. If Landlord does not give such notice in writing within such period, Landlord shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premises, Landlord shall, at Landlord's expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provide Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance of a building permit, Tenant may, within thirty (30) days after receipt of Landlord's notice, elect to terminate the Lease by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effecteffect and Landlord shall promptly commence to repair and restore the damage or destruction to substantially the same condition as existed prior to such damage and shall complete such repair and restoration with due diligence in compliance with all then existing laws. If (1) such damage or destruction cannot, in landlord's reasonable estimation, be repaired within 180 days following such damage or destruction; or (2) more than forty percent (40%) of the Building is damaged or destroyed (regardless of its impact on the Premises); or (3) any mortgage of the Building will not allow the application of insurance proceeds to be applied to repair and restoration; or (5) the damage or destruction occurs within the last twelve (12) months of the Term of this Lease or any extension hereof, then Landlord may, in its sole discretion, terminate this Lease by delivery of notice to Tenant within 30 days of the date Landlord learns of the damage. IN THE EVENT ANY MORTGAGE OF THE BUILDING DOES NOT ALLOW THE APPLICATION OF INSURANCE PROCEEDS TO BE APPLIED TO REPAIR AND RESTORE THE BUILDING, LANDLORD SHALL REFUND TO TENANT ANY SPECIFIC PREMIUMS COLLECTED FROM TENANT FOR THE PARTICULAR COVERAGE INVOLVED. In the event of repair, reconstruction and restoration by Landlord as herein provided, however, that during any period of repairs or restoration, the rent and all other amounts to be paid by Tenant on account of the Premises and payable under this Lease shall be abated in proportion to proportionately BY AN AMOUNT IN THE SAME RATIO AS THE NUMBER OF SQUARE FEET IN THE DAMAGED PORTION OF THE PREMISES BEARS TO THE TOTAL NUMBER OF SQUARE FEET OF THE PREMISES; provided that there shall be no abatement of rent if such damage is the area of the Premises rendered not reasonably suitable for the conduct result of Tenant's business thereonnegligence or intentional wrongdoing. Tenant hereby expressly waives shall not be entitled to any compensation or damages for loss of the use of the whole or any part of the Premises, damage to Tenant's Personal Property and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. If Landlord is obligated to or elects to repair or restore at herein provided, Landlord shall be obligated to make repair or restoration only to those portions of the Building and the Premises which were originally provided at landlord's expense, and the repair and restoration of items not provided at Landlord's expense shall be the obligation of Tenant. Tenant agrees to coordinate the restoration and repair of those items it is required to restore or repair with Landlord's repair and restoration work and in coordination with a work schedule prepared by Landlord, or Landlord's contractor. Further, Tenant's work shall be performed in accordance with the terms, standards and conditions contained in Paragraph 14 above. The provisions of California Civil Code Section 1932, Subdivision 2 Subsection 2, and Section 1933, Subdivision 4 Subsection 4, and any other similarly enacted statute or court decision relating to the abatement or termination of a lease upon destruction of the California Civil Codeleased premises, are hereby waived by Tenant; and the provisions of this PARAGRAPH 17 shall govern in case of such destruction.
Appears in 1 contract
Samples: Global Directmail Corp
Destruction. In the event that any portion of If the Premises or the Building are ----------- destroyed or damaged by an uninsured perilfire or other casualty, Landlord or Tenant mayshall forthwith repair the same, upon written notice to the other, given provided that such repairs can be made within thirty one hundred eighty (30180) days after the occurrence date of such damage or destructionunder the laws and regulations of the federal, elect to terminate this Lease; providedstate and local governmental authorities having jurisdiction thereof. In such event, however, that either party may, within thirty (30) days after receipt of such notice, elect to make any required repairs and/or restoration at such party's sole cost and expense, in which event this Lease shall remain in full force and effect, effect except that Tenant shall be entitled to a proportionate reduction of Base Rent and Additional Charges while such repairs to be made hereunder by Landlord are being made. Such proportionate reduction shall be based upon the extent to which such damage and the party having made such election to restore or repair shall thereafter diligently proceed with making of such repairs and/or restoration. In by Landlord shall interfere with the event the Premises are damaged or destroyed from any insured peril to the extent of fifty percent (50%) or more of the then replacement cost of business carried on by Tenant in the Premises, Landlord may, upon written notice to Tenant, given within thirty . Within sixty (3060) days after the occurrence date of such damage (or destruction, elect to terminate this Lease. If Landlord does not give as soon as reasonably possible after such notice in writing within such sixty (60) day period), Landlord shall notify Tenant whether or not such repairs can be deemed to have elected to rebuild or restore made within one hundred eighty (180) days after the Premises, in which event Landlord shall, at its expense, promptly rebuild or restore the Premises to their condition prior to the date of such damage or destruction and Tenant Landlord's determination thereof shall pay to Landlord upon commencement of reconstruction the amount of any deductible be binding on Tenant. If such repairs cannot be made within one hundred eighty (180) days from the insurance policy, not to exceed one month's rent in the case date of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than fifty percent (50%) of the then replacement cost of the Premisessuch damage, Landlord shall, at Landlord's expense, promptly rebuild or restore shall have the Premises to their condition prior to the damage or destruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy, not to exceed an amount equal to one month's rent in the case of earthquake and not to exceed Ten Thousand Dollars ($10,000.00) in all other cases. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shalloption, within thirty (30) days after the occurrence date of Landlord's notice to Tenant of such determination either to: (i) notify Tenant of Landlord's intention to repair such damage and diligently prosecute such repairs, in which event this Lease shall continue in full force and effect and the Base Rent and Additional Charges shall be reduced as provided herein; or destruction, provide (ii) notify Tenant with written notice of the time required for such repair or restoration. If such period is longer than two hundred seventy (270) days from the issuance Landlord's election to terminate this Lease as of a building permitdate specified in such notice, Tenant may, within which date shall be not less than thirty (30) nor more than sixty (60) days after receipt of Landlord's notice, elect notice is given. In the event that such notice to terminate the Lease is given by giving written notice to Landlord of such election, whereupon the Lease shall immediately terminate. The period of time for Landlord to complete the repair or restoration shall be extended for delays caused by the fault or neglect of Tenant or because of acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of contractors or subcontractors due to such causes, or other contingencies beyond the control of Landlord. Landlord's obligation to repair or restore the Premises shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain terminate on the date specified in full force such notice. In case of termination, the Base Rent and effect; providedAdditional Charges shall be reduced by a proportionate amount based upon the extent to which such damage interfered with the business carried on by Tenant in the Premises, howeverand Tenant shall pay such reduced Base Rent and Additional Charges up to the date of termination based upon an estimate produced by Landlord, that during with a final settlement of Additional Charges to be completed after the end of the applicable Tax Year and/or Expense Year, in accordance with Article 5 above. Landlord agrees to refund to Tenant any Base Rent and Additional Charges previously paid for any period of time subsequent to such date of termination. The repairs or restoration, rent and all other amounts to be paid made hereunder by Tenant on account of the Premises Landlord shall not include, and this Lease Landlord shall not be abated in proportion required to repair, any damage by fire or other cause to the area property of Tenant or any damage caused by the Premises rendered not reasonably suitable for the conduct negligence of Tenant's business thereon. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2 and Section 1933its contractors, Subdivision 4 of the California Civil Code.agents, licensees or
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