Common use of Destruction Clause in Contracts

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged to the extent of thirty-three and one third percent (33 1/3%) or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement (Ruckus Wireless Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord mayexcept for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under Para▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇ ▇▇▇, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are is damaged to the extent of thirty33-three and one third percent (33 1/3%) or more % of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 expense, except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage damaged bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargosembargoes, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant’s 's sole cost and expense provided this Lease is not canceled 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. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any the event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty33-three and one third percent (33 1/3%) % of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be by injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent (100%) of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 2 contracts

Sources: Lease Agreement (PLX Technology Inc), Lease Agreement (PLX Technology Inc)

Destruction. A. In the event that more than a quarter of the Premises are destroyed 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, subject to Section 16.D below, 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, subject to Section 16.D below. B. In the event the Premises are destroyed in whole or in part damaged from any causeinsured peril to the extent of fifty percent (50%) 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. If a party does not give such notice in writing within such period, the parties shall be deemed to have elected to rebuild or restore the Premises, in which event Landlord shall, at its option: (a) Rebuild expense, promptly rebuild or restore the Premises to their condition prior to the damage or destruction, ordestruction and Tenant shall pay to Landlord upon commencement of reconstruction the amount of any deductible from the insurance policy. (b) Terminate this Lease (providing that C. In the event the Premises are damaged or destroyed from any insured peril to the extent of thirty-three and one third less than fifty percent (33 1/350%) or more of the then replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, in writing within thirty (30) days from the destruction cost of the Premises of its election to either rebuild and restore them, or to terminate this LeasePremises, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agreesmay, at its expense except for any deductible, which is the responsibility of the TenantLandlord’s expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled . D. In the event that, pursuant to a reduction in Rent from any of the date foregoing provisions, Landlord chooses to rebuild or restore the Premises, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provided provide Tenant is not using any portion with written notice of such damaged area, while the time required for such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premisesor restoration (“Landlord’s Repair Notice”). If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one such period is longer than two hundred eighty ten (180210) days following from the date of destruction the damage, 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 acts of God, acts of public Public agencies, labor disputes, strikes, fires, freight embargosembargoes, rainy or stormy weather, inability ability 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) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild repair or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and Premises shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within two (2) months after the expiration of the estimated period of time set forth in Landlord’s Repair Notice, which period shall be extended to the extent of any delays caused by Tenant, then Tenant shall forthwith replace may terminate this Lease by written notice to Landlord within thirty (30) days after the expiration of such period, as the same may be so extended. Additionally, if the Premises, or fully repair at any part thereof, or any portion of the Building necessary for Tenant’s sole cost and expense provided use of the Premises, are damaged or destroyed during the last twelve (12) months of the Term, or any extension thereof, Tenant may terminate this Lease is not canceled according by giving written notice thereof to Landlord within thirty (30) days after the date of the casualty, in which case this Lease shall terminate as of the later of the date of the casualty or the date of Tenant’s vacation of the Premises. E. In the event of damage to the provisions aboveBuilding or Project which does not effect the Premises but prevents Tenant from having access to or the use of the Premises (or a material portion thereof), Landlord will promptly repair such damage such that Tenant can have access to and use of the Premises, and during any period in which Tenant I so prevented from having access to or use of the Premises, Tenant will be afforded an abatement of Tenant’s rental obligation hereunder (prorated based upon the portion of the Premises which is so rendered unusable) in the manner described in Section I6.F below. However, if, pursuant to Landlord’s Repair Notice, the damage will take in excess of two hundred ten (210) days from the date of damage to repair, either party hereto may terminate this Lease by written notice to the other delivered within thirty (30) days after the date of delivery of Landlord’s Repair Notice. F. 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’s abatement period shall continue until Tenant has been given sufficient time, and sufficient access to the Premises, to rebuild the portion of the Premises it is required to rebuild, to install its property, furniture, fixtures, data and telecommunications cabling and equipment and to move in to the Premises over the course of one (1) full weekend (during which weekend Tenant shall be provided with the exclusive use of the Building’s freight elevator). Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in 2 and Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient law changes, any references to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant outdated laws shall refer to the foregoing, Tenant, upon demand closest replacement laws throughout this lease as determined by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 2 contracts

Sources: Triple Net Building Lease Agreement (Sumo Logic, Inc.), Triple Net Building Lease Agreement (Sumo Logic, Inc.)

Destruction. In Paragraph 21 is modified by the event the Premises are destroyed in whole or in part from any cause, Landlord may, at its optionfollowing: (a) Rebuild or restore A. Except as provided in P▇▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇ may not terminate the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that if the Premises are damaged by a peril that is covered by the insurance carried by Landlord pursuant to Paragraph 12, but instead shall restore the extent Premises in the manner described by Paragraph 21. B. If the Premises are damaged by a peril covered by the insurance carried by Landlord pursuant to P▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ shall have the option to terminate the Lease if each of the following conditions is satisfied: (i) the cost to repair or the damage exceeds thirty-three and one third percent (33 1/333%) or more of the then replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, in writing within thirty (30) days from the destruction cost of the Premises Premises; and (ii) the damage occurs at a time when there is less than five (5) years remaining in the term of its the Lease. Notwithstanding the foregoing, if such damage occurs at a time when there is less than five (5) years remaining in the term of the Lease and Landlord notifies Tenant of Landlord’s election to terminate the Lease pursuant to the provisions of this Paragraph 61B, if Tenant has the right to extend the term of this Lease pursuant to either rebuild and restore them, Paragraph 41 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 except for any deductible, which is 42 such that the responsibility remaining term of the Tenant, promptly to rebuild or restore Lease (including the Premises to their condition prior to the damage or destruction. Tenant shall option period) will be entitled to a reduction in Rent from more than five (5) years following the date of such damage damage, this Lease shall not terminate if Tenant notifies Landlord in writing of Tenant’s exercise of an option to extend granted to Tenant by either Paragraph 41 or destruction42. In such event, provided Tenant is this Lease shall not using any portion of such damaged areaterminate, while such repair is being made the term shall be so extended, and Landlord shall restore the Premises in the proportion that the area of manner provided in Paragraph 21. C. If the Premises rendered untenantable are damaged by such damage bears to any peril, then as soon as reasonably practicable, Landlord shall furnish Tenant with the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control written opinion of Landlord) (’s architect or construction consultant as to when the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent restoration work required of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Landlord may be completed. Tenant shall have the right option to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent any of the rebuilding costs net following occurs, which option may be exercised only by delivery to Landlord of a written notice of election to terminate within seven (7) days after Tenant receives from Landlord the estimate of the deductible. Without regard time needed to whether this complete such restoration: (1) The Premises are damaged by any peril and, in the reasonable opinion of Landlord’s architect or construction consultant, the restoration of the Leased Premises cannot be substantially completed within 180 days after the date of such damage; or (2) The Premises are damaged by any peril within twelve (12) months of the last day of the Lease is terminated term and provided Tenant has not exercised an option to renew pursuant to the foregoingprovisions of Paragraph 41 or 42, Tenantand, upon demand by in the reasonable opinion of Landlord’s architect or construction consultant, shall pay to Landlord Tenant’s Proportionate Share the restoration of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 Leased Premises cannot be substantially completed within sixty (“Property Insurance”)60) days after the date of such damage.

Appears in 1 contract

Sources: Lease Agreement (Maxtor Corp)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, oror (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost); (b) Terminate this Lease (providing that the Premises are damaged to the extent of thirty-three and one third percent (33 1/3%) or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to be extended for delays caused by the fault or neglect of Tenant or because of Acts of God, acts act of public agencies, labor disputes, strikes, fires, freight embargosembargoes, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant’s 's sole cost and expense provided this Lease is not canceled 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. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any the event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) % of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Sublease (Power Integrations Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease Lease. Provided however, if less than twenty percent (providing that 20%) of the rentable square footage of the Premises are damaged is destroyed or damaged, then Landlord shall be required to the extent of thirty-three rebuild and one third restore. If twenty percent (33 1/320%) or more of the replacement costPremises is damaged or destroyed, exclusive of footings, foundations and floor slabs). If if Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if If, in any event, Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to be extended by not more than ninety (90) additional days 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 embargosembargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due dues to such causes or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving fifteen) (15) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, merchandise or any improvements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant’s 's sole cost and expense provided this Lease is not canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in and Section 1933, Subdivision 4 of the California Civil Code. In any the event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) % of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in In the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent the destruction of the rebuilding costs net of the deductible. Without regard to whether this Lease Premises is terminated pursuant to the foregoing, caused by Tenant, upon demand by Landlord, Tenant shall pay to Landlord Tenant’s Proportionate Share the deductible portion of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)Landlord's insurance proceeds.

Appears in 1 contract

Sources: Lease (Siebel Systems Inc)

Destruction. In the event 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 repairs interferes with the business carried on by Lessee in whole the Premises. If the partial destruction is caused by a casualty which is not insured under Lessor’s fire and extended covered insurance or if such repairs cannot be made in part from any causesixty (60) days, Landlord may, at its option: (a) Rebuild either Lessor or restore the Premises to their condition prior Lessee may terminate this lease by giving written notice to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged to the extent of thirty-three and one third percent (33 1/3%) or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, in writing other party within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to after the damage or destructionoccurs. Tenant shall be entitled to a reduction in Rent from If the date of such damage or destruction, provided Tenant lease is not using any portion of terminated, Lessor shall make such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration repairs within one hundred eighty (180) days following the date of destruction (such period of a reasonable time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate with this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain lease continuing in full force and effect. Tenant hereby expressly waives effect and the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of rent proportionately reduced while the California Civil Coderepairs are being made. In any the event that the Building in which the Premises are situated located is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) % of the then current replacement cost thereof, Landlord Lessor may elect to terminate this Leaselease by giving written notice of termination to Lessee within thirty (30) days after damage occurs, regardless of whether the Premises are damaged, whether the partial destruction is caused by a casualty covered by insurance, or whether the repairs can be made within ninety (90) days. A total destruction of the Building in which the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may are located shall terminate this Lease in lease. In respect to any partial destruction which Lessor is obligated to repair or may elect to repair under the terms of this paragraph and which can be made within ninety (90) days the provisions of Section 1932, Subdivision 2, and of Section 1933, Subdivision 4, of the Civil Code of the State of California are waived by Lessee. In the event of an uninsured event or if insurance proceeds are insufficient termination of this lease pursuant to cover one hundred percent any of the rebuilding costs net provisions of this paragraph, rent and Lessee’s portion of any parking assessment fee increase shall be apportioned on a per diem basis and shall be paid to the date of the deductiblecasualty. Without regard In no event shall Lessor be liable to whether 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 is terminated pursuant lease as herein provided, nor shall Lessee be relieved thereby or in any such event from Lessee’s obligations hereunder except to the foregoing, Tenant, extent and upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)conditions expressly stated in this paragraph.

Appears in 1 contract

Sources: Lease (Celladon Corp)

Destruction. In Paragraph 21 is modified by the event the Premises are destroyed in whole or in part from any cause, Landlord may, at its optionfollowing: (a) Rebuild or restore A. Except as provided in P▇▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇▇▇▇ may not terminate the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that if the Premises are damaged by a peril that is covered by the insurance carried by Landlord pursuant to Paragraph 12, but instead shall restore the extent Premises in the manner described by Paragraph 21. B. If the Premises are damaged by a peril covered by the insurance carried by Landlord pursuant to P▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ shall have the option to terminate the Lease if each of the following conditions is satisfied: (i) the cost to repair or the damage exceeds thirty-three and one third percent (33 1/333%) or more of the then replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, in writing within thirty (30) days from the destruction cost of the Premises Premises; and (ii) the damage occurs at a time when there is less than five (5) years remaining in the term of its the Lease. Notwithstanding the foregoing, if such damage occurs at a time when there is less than five (5) years remaining in the term of the Lease and Landlord notifies Tenant of Landlord’s election to terminate the Lease pursuant to the provisions of this Paragraph 62B, if Tenant has the right to extend the term of this Lease pursuant to either rebuild and restore them, Paragraph 42 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 except for any deductible, which is 43 such that the responsibility remaining term of the Tenant, promptly to rebuild or restore Lease (including the Premises to their condition prior to the damage or destruction. Tenant shall option period) will be entitled to a reduction in Rent from more than five (5) years following the date of such damage damage, this Lease shall not terminate if Tenant notifies Landlord in writing of Tenant’s exercise of an option to extend granted to Tenant by either Paragraph 42 or destruction43. In such event, provided Tenant is this Lease shall not using any portion of such damaged areaterminate, while such repair is being made the term shall be so extended, and Landlord shall restore the Premises in the proportion that the area of manner provided in Paragraph 21. C. If the Premises rendered untenantable are damaged by such damage bears to any peril, then as soon as reasonably practicable, Landlord shall furnish Tenant with the total area of the Premises[Illegible] completed. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right option to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent any of the rebuilding costs net following occurs, which option may be exercised only by delivery to Landlord of a written notice of election to terminate within seven (7) days after Tenant receives from Landlord the estimate of the deductible. Without regard time needed to whether this complete such restoration: (1) The Premises are damaged by any peril and, in the reasonable opinion of Landlord’s architect or construction consultant, the restoration of the Leased Premises cannot be substantially completed within 180 days after the date of such damage; or (2) The Premises are damaged by any peril within twelve (12) months of the last day of the Lease is terminated term and provided Tenant has not exercised an option to renew pursuant to the foregoingprovisions of Paragraph 42 or 43, Tenantand, upon demand by in the reasonable opinion of Landlord’s architect or construction consultant, shall pay to Landlord Tenant’s Proportionate Share the restoration of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 Leased Premises cannot be substantially completed within sixty (“Property Insurance”)60) days after the date of such damage.

Appears in 1 contract

Sources: Lease Agreement (Maxtor Corp)

Destruction. Section 24.1. In the event the Premises are destroyed in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged to the extent of thirty-three and one third percent (33 1/3%) or more of the replacement cost, exclusive of footings, foundations and floor slabs)Lease. If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises Premises, including leasehold improvements installed by Landlord, to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one two hundred eighty seventy (180270) days following the date of destruction (such period of time to 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 embargosembargoes, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five fifteen (15) days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premisesafter said 270-day period. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, merchandise or any improvements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant’s 's sole cost and expense provided this Lease is not canceled cancelled according to the provisions above. Section 24.2. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in 2 (and) Section 1933, Subdivision 4 of the California Civil Code. Section 24.3. In any the event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-thirty three and one one-third percent (33 33-1/3%) or more of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in In the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent the destruction of the rebuilding costs net of the deductible. Without regard to whether this Lease Premises is terminated pursuant to the foregoing, caused by Tenant, upon demand by Landlord, Tenant shall pay to Landlord Tenant’s Proportionate Share the deductible portion of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)Landlord's insurance proceeds.

Appears in 1 contract

Sources: Lease Agreement (Versartis, Inc.)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that 15.1 If the Premises are damaged by fire or other casualty (a “Casualty”), Landlord shall, as soon as reasonably practicable but in any event within ninety (90) days after such Casualty, deliver to Tenant a good faith estimate (the extent of thirty-three and one third percent (33 1/3%“Damage Notice”) or more of the replacement costtime needed to repair the damage caused by such Casualty. 15.2 If a material portion of the Premises is damaged by Casualty such that Tenant is prevented from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Casualty and Landlord estimates that the damage caused thereby cannot be repaired within two hundred seventy (270) days after the commencement of repairs (the “Repair Period”), exclusive then Tenant may terminate this Lease by delivering written notice to Landlord of footings, foundations and floor slabs). If Landlord does not give Tenant notice, in writing its election to terminate within thirty (30) days from after the destruction Damage Notice has been delivered to Tenant; provided, however, that if such damage occurs within twelve (12) months of the Premises last day of the Term and the time estimated to substantially complete the repair exceeds fifty percent (50%) of the then remaining Term, then Tenant may terminate this Lease by delivering written notice to Landlord of its election to either rebuild and restore them, or terminate within thirty (30) days after the Damage Notice has been delivered to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore Tenant . 15.3 If a Casualty damages the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any material portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If thereof and (a) Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time damage to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged cannot be repaired within the Repair Period, (b) the damage to the extent of 33 1/3% or more Premises exceeds fifty percent (50%) of the replacement cost thereof (exclusive of footings, excluding foundations and floor slabsfootings), as estimated by Landlord, and such damage occurs during the last two (2) and provided years of the Term, (c) regardless of the extent of damage to the Premises, the damage is not fully covered by Landlord’s insurance policies or destruction does not result from routine maintenance and repairs Landlord makes a good faith determination that restoring the Premises would be uneconomical, or damage (d) Landlord is required to pay any insurance proceeds arising out of the Casualty to any beneficiary or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”)mortgagee with a lien on the Premises or Project, Tenant shall have the right to then Landlord may terminate this Lease by giving written notice of its election to Landlord terminate within five thirty (30) days following after the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant Damage Notice has been delivered to Tenant. 15.4 If neither party elects to terminate this Lease following a Casualty, then Landlord shall, within a reasonable time after such Casualty, begin to repair the Lease early as provided herein, Tenant Premises and shall remain liable for proceed with reasonable diligence to restore the insurance deductible as it relates Premises to substantially the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord same condition as they existed as of the Commencement Date of the Lease and immediately before such Casualty; however, Landlord shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, be required to repair or replace any improvements, alterations or additions made betterments within the Premises (which shall be promptly and with due diligence repaired and restored 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 canceled according expense) or any furniture, equipment, trade fixtures or personal property of Tenant or others in the Premises, and Landlord’s obligation to repair or restore the Premises shall be limited to the provisions aboveextent of the insurance proceeds actually received by Landlord for the Casualty in question. Unless If this Lease is terminated pursuant under the provisions of this Section 15, Landlord shall be entitled to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 proceeds of the California Civil Code. In any event that insurance policies providing coverage for all alterations, improvements and betterments in the Building in which Premises (and, if Tenant has failed to maintain insurance on such items as required by this Lease, Tenant shall pay Landlord an amount equal to the proceeds Landlord would have received had Tenant maintained insurance on such items as required by this Lease). 15.5 If the Premises are situated is damaged or destroyed to by Casualty, Rent for the extent of not less than thirty-three and one third percent (33 1/3%) portion of the replacement cost thereof, Landlord may elect to terminate this Lease, whether Premises rendered untenantable by the damage shall be equitably abated based on the nature and degree of the interference with Tenant’s use of the Premises be injured from the date of damage until the completion of Landlord’s repairs (or not. Notwithstanding anything to until the contrary herein, Landlord may terminate date of termination of this Lease by Landlord or Tenant as provided above, as the case may be), unless Tenant or any of Tenant’s Parties negligently or willfully caused such damage, in which case, Tenant shall continue to pay Rent without abatement. 15.6 This Section 15 shall provide Tenant’s sole and exclusive remedy in the event of an uninsured event damage or if insurance proceeds are insufficient destruction to cover one hundred percent the Premises, and Tenant, as a material inducement to Landlord entering into this Lease, irrevocably waives and releases Tenant’s rights under California Civil Code Sections 1932(2), 1933(4), 1941 and 1942. No damages, compensation or claim shall be payable by Landlord for any inconvenience, any interruption or cessation of Tenant’s business, or any annoyance, arising from any damage to or destruction of all or any portion of the rebuilding costs net Premises, except for the abatement of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)rent provided in Section 15.5 above.

Appears in 1 contract

Sources: Industrial Lease (MusclePharm Corp)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged to the extent of thirty-three and one third percent (33 1/3%) or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant Either party hereto shall have the right to terminate this Lease by giving in the event of destruction of or damage to the Leased Premises which is so extensive as to make impractical Tenant's use and occupancy thereof for a period reasonably expected to be in excess of sixty (60) days or if more than 50% of the space is reasonably expected to be unavailable for use for in excess of sixty (60) days. Such right of termination must be accomplished through written notice to Landlord the other party given within five thirty (30) days following the date Tenant receives Landlord’s written notice stating that of destruction or damage. In the restoration will exceed the Allowed Restoration Period. Regardless event of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore such termination there shall be limited to a proration of the Building rent called for herein and interior improvements constructed Landlord shall refund any excess previously paid by Landlord as they existed Tenant. Termination shall be effective, and rent shall be prorated as of the Commencement Date date on which written notice of termination is given. In the Lease and shall not include restoration event of Tenant’s trade fixtures, equipment, merchandiseany other destruction of or damage to the Leased Premises, or any improvementsin the event neither party exercises the above mentioned right of termination, alterations or additions made by Tenant Landlord shall forthwith repair and reconstruct the Leased Premises. During the period of damage and repair the rent required to be paid thereunder shall be reduced proportionate to the Premises, amount of area which Tenant shall forthwith replace or fully repair at Tenant’s sole cost and expense provided this Lease is not canceled according able to the provisions aboveoccupy because of said destruction until such time as said area has been repaired or reconstructed and written notice given to Tenant that such space is available for occupancy. Unless Whether or not this Lease is terminated pursuant as a result of destruction of or damage to the foregoing provisionsLeased Premises, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if all insurance proceeds are insufficient to cover one hundred percent realized under policies maintained by Landlord shall be the sole and exclusive property of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Landlord and insurance proceeds from policies maintained by Tenant or Tenant, upon demand by Landlord, 's personal property shall pay to Landlord be solely Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)'s.

Appears in 1 contract

Sources: Lease Agreement (Cyberkinetics Neurotechnology Systems, 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 in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged insured peril to the extent of thirty-three and one third fifty percent (33 1/350%) or more of the then replacement costcost of the Premises, exclusive Landlord may, upon written notice to Tenant, given within Twenty (20) days after the occurrence of footingssuch damage or destruction, foundations and floor slabs)elect to terminate this lease. If Landlord does not give Tenant notice, such notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Leasesuch period, Landlord shall be deemed to have elected to rebuild or restore themthe Premises, in which event Landlord agreesshall, at its expense except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. destruction and Tenant shall be entitled pay to a reduction in Rent Landlord upon commencement of reconstruction the amount of any deductible from the date insurance policy applicable to the Premises. 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. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Premises, Landlord shall, within Twenty (20) days after the occurrence of such damage or destruction, provided provide Tenant with written notice of the time required for such repair or restoration. If such period is not using any portion longer than One Hundred Twenty (120) 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 damaged areaelection, while such repair is being made in whereupon the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premiseslease shall immediately terminate. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such 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 embargos, embargoes rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors . Landlord's obligation to repair or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided restore the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, 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 canceled 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 provision provisions of Section 1932, Subdivision 2, in 2 and Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Nanometrics Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their the condition prior to the damage or destructiondestruction as provided for herein, or (b) Terminate this Lease if either (providing that i) the Premises are is damaged to the extent of thirty-three and one third fifty percent (33 1/350%) or more of the replacement cost, exclusive of footings, foundations and floor slabs)slabs or (ii) in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent (100%) of the rebuilding costs. However, in such event of Landlord’s election to terminate for a Shortfall, Tenant shall have the right to elect to pay to Landlord the Shortfall provided it provides Landlord with written notification of its commitment to do so within five (5) business days of receipt of Landlord’s notice to terminate the Lease as provided in this section (ii) and agrees to fund the Shortfall by making payment to Landlord within thirty (30) days of receipt of Landlord’s invoice for said Shortfall. If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, destruction (provided (i) said areas so damaged cannot be used by Tenant and (ii) Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises). If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one two hundred eighty (180200) days following the date of destruction (“Estimated Repair Period”) (such period of time Estimated Repair Period to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided that the damage or destruction does was not result caused from routine maintenance and and/or repairs by Tenant or damage or destruction caused by vandalism and accidents for which any or all of the Tenant is responsible under Paragraph 10 (“Tenant Maintenance”)Related Parties are responsible, Tenant shall have the right to terminate this Lease by giving written notice to Landlord of its election to terminate within five ten (10) business days following the date Tenant receives receipt of Landlord’s written notice stating that to Tenant. In the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or event Tenant elects does not timely deliver such notice to Landlord, Tenant shall not have a further right to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the PremisesLease. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements Landlord’s Interior Improvements constructed by Landlord as they existed as of under the Commencement Date of the Lease Construction Agreement and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. Multi Tenant/Single Parcel Page 28 of 55 Initial: /S/ JA; RP; VP In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third fifty percent (33 1/350%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything If Landlord elects to terminate the Lease early due to destruction as provided herein and Tenant is not responsible in part or in whole for said damage, Tenant shall not be liable for the insurance deductible as it relates to the contrary hereinPremises; however (i) if Landlord does not elect to terminate and/or (ii) if Tenant elects to terminate and/or is responsible in part or in whole for said damage, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent Tenant shall remain liable for payment of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant insurance deductible as it relates to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)Premises.

Appears in 1 contract

Sources: Lease Agreement (Electronics for Imaging Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord except damage and destruction caused from vandalism or accident for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing Lease, provided that the Premises are is damaged to the extent of thirty-three and one third percent (33 1/333%) or more of the replacement costcost thereof or to any extent if (i) the damage is not covered by insurance, exclusive and/or (ii) the damage occurs during the last twelve (12) months of footings, foundations and floor slabs)the Lease Term. If Landlord does not shall give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which . In the event Landlord agrees, at its expense except for any deductible, which is the responsibility of the Tenant, promptly agrees to rebuild or restore the Premises to their condition prior to the Premises, Landlord shall do so promptly at its expense. Unless such damage is caused by Tenant or destruction. Tenant's agents, employees or contractors, Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargosembargoes, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving thirty (30) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, (including telecommunication 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 's sole cost and expense provided this Lease is not canceled 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. Tenant hereby expressly waives the provision any statutory rights of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 termination which may arise by reason of any partial or total destruction of the California Civil CodePremises. In any the event that the Building in which damage or destruction of the Premises are situated is damaged caused by Tenant or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereofTenant's employees, Landlord may elect to terminate this Leaseagents or independent contractors, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, Tenant shall pay to Landlord Tenantthe deductible portion of Landlord’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)insurance proceeds.

Appears in 1 contract

Sources: Lease Agreement (Sierra Monitor Corp /Ca/)

Destruction. In Should the event Building, Premises or any portion of the Premises are destroyed in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore material to Tenant’s use of the Premises to their condition prior to the damage be so damaged by fire or destruction, or (b) Terminate this Lease (providing other cause that the Premises are damaged to the extent of thirty-three and one third percent (33 1/3%) rebuilding or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant noticerepairs cannot, in writing the opinion of L▇▇▇▇▇▇▇’s architect (the “Opinion”), be completed within thirty one hundred eighty (30180) days from the destruction date of the Premises of its election to either rebuild and restore themfire, or to other cause of damage, then either Landlord or, if the casualty is not the fault of Tenant, Tenant may terminate this Lease, Landlord shall be deemed Lease by written notice to have elected to rebuild or restore themthe other given within fifteen (15) days of receipt of notice of the Opinion, in which event Landlord agrees, at its expense except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant Rent shall be entitled to a reduction in Rent abated from the date of such damage or destruction. However, provided Tenant if the damage or destruction is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration repairs can be completed within one hundred eighty (180) days following days, Landlord covenants and agrees, subject to the date provisions of destruction (this paragraph, to make such period repairs with reasonable promptness and dispatch and, if the casualty is not the fault of Tenant, to allow Tenant an abatement in the Rent for such time as the Premises are untenantable or proportionately for such portion of the Premises as shall be untenantable, and Tenant covenants and agrees that the terms of this Lease shall not be otherwise affected. Repairs and restoration to base Building improvements required by this Lease to be extended furnished by Landlord at its expense shall be made at Landlord’s expense. Such repairs and restoration relating to Tenant’s initial leasehold improvements or improvements otherwise made by or 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlordbe made at Tenant’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building expense in accordance with plans and interior improvements constructed specifications approved by Landlord as they existed as of the Commencement Date of the Lease and Tenant. In no event shall not include restoration of Tenant’s Landlord be required to repair or replace any trade fixtures, equipmentfurniture, merchandiseequipment or other property belonging to Tenant; nor shall Landlord have any obligation to incur any cost to repair, reconstruct or any improvements, alterations restore the Premises 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which excess of insurance proceeds from the Premises casualty necessitating such work that are situated is damaged or destroyed made available to the extent of not less than thirty-three Landlord and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or notunder its sole control. Notwithstanding anything to the contrary hereincontrary, Landlord either party may terminate this Lease in the event that Landlord maintained all casualty insurance in full compliance with the requirements of an uninsured event or if this Lease, the insurance proceeds made available to Landlord are insufficient to cover one hundred percent repair, reconstruct or restore the Premises or the Building in accordance with the terms hereof and Landlord does not intend to repair or restore the Premises as a result, by giving written notice to the other within thirty (30) days following the date of Tenant receiving notice of such determination by Landlord. Notwithstanding anything to the contrary, if the Building is substantially damaged or destroyed by Casualty at any time during the last year of the rebuilding costs net Lease Term, and Landlord elects not to rebuild and restore the leasehold improvements in the Premises for Tenant, then Landlord may terminate this Lease upon notice to Tenant within sixty (60) days after the damage date provided that if Landlord exercises such election to terminate and Tenant has any unexercised option to extend the Lease Term, then Tenant may nullify Landlord’s asserted termination of this Lease by exercising Tenant’s right to extend the Lease Term, for the Renewal Term within thirty (30) days after receipt of Landlord’s notice of termination. Also, notwithstanding anything in this Article 22 to the contrary, if either the Premises is damaged or destroyed by casualty, or if any portion of the deductible. Without regard Building or Project other than the Premises (including the Parking Facility) is damaged or destroyed by casualty so that Tenant’s use or enjoyment of or access to whether the Premises, the Building or access to and the use of the Parking Facility is adversely affected, and such casualty occurs during the last year of the Lease Term, Tenant may terminate this Lease upon notice to Landlord within sixty (60) days after the damage date, provided that Tenant reasonably determines that the continuation of this Lease is terminated pursuant impracticable giving due consideration to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)Lease Term which would remain after restoration.

Appears in 1 contract

Sources: Lease Agreement (Compass Sub North, Inc.)

Destruction. In the event the Premises are destroyed in whole or in ----------- part from any cause, Landlord except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are is damaged to the extent of thirty-three and one third percent (33 1/3%) or more % of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant’s 's sole cost and expense provided this Lease is not canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) % of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Opti 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 expenses, 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 cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged insured peril to the extent of thirty-three and one third ninety percent (33 1/390%) or more of the then replacement costcost of the Premises, exclusive Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of footingssuch damage or destruction, foundations and floor slabs)elect to terminate this Lease. If Landlord does not give Tenant notice, such notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Leasesuch period, Landlord shall be deemed to have elected to rebuild or restore themthe Premises, in which event Landlord agreesshall, at its expense except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. destruction and Tenant shall be entitled pay to a reduction in Rent Landlord upon commencement of reconstruction the amount of any deductible from the date insurance policy. In the event the Premises are damaged or destroyed from any insured peril to the extent of less than ninety percent (90%) 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. 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, provided provide Tenant is not using any portion with written notice of such damaged area, while the time required for such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premisesor restoration. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within such period is longer than one hundred eighty (180) days following from the date issuance of destruction 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 acts of God, acts of public agenciespublication, labor disputes, strikes, fires, freight embargosembargoes, 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) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).the

Appears in 1 contract

Sources: Lease Agreement (Arbor Software Corp)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are is damaged to the extent of thirty-three and one third percent (33 1/3%) or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrarycountry, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, . Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than then thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. BUILDING: 1098 Alta PROPERTY: 1-0001 UNIT: 1 LEASE ID: 0001-SONI01-01 Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Sonics, 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 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 in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged insured peril to the extent of thirty-three and one third fifty percent (33 1/3%5011) or more of the then replacement costcost of the Premises, exclusive Landlord may, upon written notice to Tenant, given within thirty (30) days after the 24 occurrence of footingssuch damage or destruction, foundations and floor slabs)elect to terminate this Lease. If Landlord does not give Tenant notice, such notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Leasesuch period, Landlord shall be deemed to have elected to rebuild or restore themthe Premises, in which event Landlord agreesshall, at its expense except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. destruction and Tenant shall be entitled pay to a reduction in Rent Landlord upon commencement of reconstruction the amount of any deductible from the date 'insurance policy. 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 po 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, provided provide Tenant is not using any portion with written notice of such damaged area, while the time required for such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premisesor restoration. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within such period is longer than two hundred one hundred eighty (180) days following 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 destruction (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 acts of God, acts of public agenciespublication, labor disputes, strikes, strikes fires, freight embargosembargoes, 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) (the “Allowed Restoration Period”), then, provided . Landlord's obligation to repair or restore the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises, which . Landlord and Tenant shall forthwith replace or fully repair at Tenant’s sole cost and expense provided each have the right to terminate this Lease is not canceled according if (a) the damage to the provisions abovePremises 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 Tena▇▇'▇ ▇usiness thereon. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in 2 and Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Consent of Landlord to Proposed Sublease (Ag Associates Inc)

Destruction. In If the event Leased Premises or the Premises Building, at any time during the term, are destroyed damaged in whole or in part from any causeby fire, Landlord mayflood, tornado or by the elements, or by Act of God, or by the public enemy or otherwise, Tenant shall give prompt written notice to Landlord. If the Leased Premises or the Building are substantially damaged, then this Lease and the Term, at its option: (a) Rebuild the election of the Landlord, shall either terminate or if Landlord shall elect to rebuild and restore the Premises to their condition prior to the damage or destructionBuilding, or (b) Terminate this Lease (providing that the Premises are damaged shall continue in full force and effect. Landlord agrees to the extent notify Tenant of thirty-three and one third percent (33 1/3%) or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, in writing its election within thirty (30) days from 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 destruction expiration of the Premises Landlord's thirty (30) day period to notify Tenant of its election to either rebuild and restore themresolve, or to terminate this Lease, then Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense except for any deductible, which is the responsibility of the so notify Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease. Base Rent, Additional Rent and other charges payable under the Lease by giving written notice 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 within five 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 repair 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 date Tenant receives Landlord’s written notice stating that the event Landlord is unable to complete said restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, or repair within said one hundred twenty (120) days Tenant shall remain liable for have the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect right to terminate this Lease. However, whether 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 Premises 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 injured apportioned and paid up to the date of the damage, and any prepaid unearned rent or notother 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 as provided herein, upon receipt of Landlord's written notice of its election to terminate, Tenant, within fifteen (15) days following receipt of such notice may, at its option, elect, by the giving of written notice to Landlord, to continue this Lease and rebuild the Leased Premises to substantially the same condition as existed immediately prior to the damage at its sole cost and expense 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, 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 be deemed null and 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 purposes of this Section shall be defined as damage to the Building in excess of fifty percent (50%) of either the rentable floor area or 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 estimated amount of such insufficiency. Within fifteen (15) days after receiving Landlord's written notice pursuant to the preceding sentence, Tenant will notify Landlord of Tenant's election either: (i) to pay such insufficiency to Landlord, in which case, Landlord will rebuild; or (ii) not to pay such insufficiency, in which case, unless Landlord elects to rebuild notwithstanding the 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 be entitled to an abatement of rent for the period during which the Leased Premises are rendered untenantable for the Permitted Use. If only a part of the Building is rendered untenantable for the Permitted 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 may terminate this Lease demolish the Building, in which case rent shall be abated as though the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)Building were substantially damaged.

Appears in 1 contract

Sources: Commercial Lease (Suntek Corp)

Destruction. In 13.01 If, during the event initial term or renewal term of this Lease, the Common Improvements and/or Demised Premises are destroyed in whole or in part from any cause, Landlord may, at its optionare: (a) Rebuild destroyed by fire or restore the Premises to their condition prior to the damage or destructionany other casualty whatsoever, or; (b) Terminate this Lease partially destroyed so as to render the Demised Premises unfit for occupancy or Lessee’s reasonable beneficial use and enjoyment or conduct of Lessee’s usual business therein, or; (providing c) destroyed by a casualty which is not covered by Lessor’s insurance, or if such casualty is covered by Lessor’s insurance but a mortgagee of Lessor or other party entitled to insurance proceeds fails to make such proceeds available to Lessor in an amount sufficient for restoration of the Demised Premises and/or Common Improvements (provided, however, that the Premises are damaged Lessor agrees to make a good faith effort to have such mortgagee make such proceeds available for full restoration or rebuilding); then Lessor shall make its reasonable determination as to the extent length of thirty-three and one third percent (33 1/3%) or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, in writing time to complete such repairs within thirty (30) days from the destruction of the Premises casualty and shall notify Lessee of its election same as provided herein. In the event restoration is reasonably estimated by Lessor to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent take more than three hundred (300) days from the date of such damage the destruction or destructioncasualty, provided Tenant is not using any portion of such damaged area, while such repair is being made or in the proportion that event the area above described destruction or casualty should occur within the last two (2) years of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding Lease, then Lessor or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant Lessee shall have the right to terminate this Lease by giving written notice to Landlord within five days following Agreement. In the date Tenant receives Landlord’s written notice stating event that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease Agreement is terminated pursuant to in accordance with the foregoing provisions, this Lease Lessee shall remain in full force surrender within thirty (30) days of notification the Demised Premises and effectCommon Improvements and interest therein, and Lessee shall pay rent only to the time of such destruction or casualty. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 In case of the California Civil Code. In any event that the Building in which the Premises are situated is damaged total or destroyed partial damage or destruction to the extent Demised Premises and/or Common Improvements, Lessor shall re-enter and repossess the same or any part thereof for the purpose of not less than thirty-three removing or repairing the loss or damage and one third percent (33 1/3%) shall proceed with due diligence to the repair of same unless, under the foregoing provisions of this Article XIII, the Lease Agreement shall have been terminated. The Rent during the period of such repairs shall be wholly abated if all of the Demised Premises and/or Common Improvements have been thus repossessed by Lessor or otherwise made unavailable to Lessee for Lessee’s reasonable beneficial use and enjoyment or Lessee’s conduct of Lessee’s usual business therein for the purpose of repair for the period that Lessee has been dispossessed; and if only a portion of the Demised Premises and/or Common Improvements is thus repossessed or otherwise unavailable to Lessee for Lessee’s reasonable beneficial use and enjoyment or Lessee’s conduct of Lessee’s usual business therein, the Rent shall be abated for such dispossession or unavailability pro rata, based on the portion of the Demised Premises and/or Common Improvements thus repossessed or rendered unavailable during the period of repossession or unavailability. Any Rent abatement under this Article XIII shall commence as of the date of the destruction. Lessor shall not be required to rebuild, repair, or replace any part of the personal property, furniture, equipment, fixtures, and other improvements which may have been placed by Lessee or other lessees within the Demised Premises or Common Improvements, unless the damage thereto is caused by the sole negligence or willful act or omission or default hereunder of Lessor or Lessor’s agents, employees, subtenants, assignees, or independent contractors. Any insurance which may be carried by Lessor or Lessee for damage to the Demised Premises or to any personal property, fixtures, and related items therein shall be for the sole benefit of the party carrying such insurance and under its sole control; provided, however, Lessor shall carry insurance for the benefit of Lessor and Lessee sufficient to cover the full replacement cost thereof, Landlord may elect to terminate this Lease, whether of the shell of the Demised Premises be injured or not. Notwithstanding anything and an amount equal to the contrary hereininitial Tenant Improvements, Landlord may terminate this Lease in and other improvements that Lessor shall have liability therefore under Article VII. Should the event of an uninsured event Demised Premises or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease Common Improvements be destroyed or damaged by fire or other casualty that is terminated pursuant due to the foregoingnegligence or willful or wanton conduct of Lessee or Lessee’s agents, Tenantemployees, upon demand by Landlordsubtenants, assignees or independent contractors, Lessor may repair such damage, and there shall pay to Landlord Tenant’s Proportionate Share be no apportionment or abatement of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)Rent.

Appears in 1 contract

Sources: Lease Agreement (Benefitfocus,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 whole which event this Lease shall remain in full force and effect, and the party having made such election to restore or in part repair shall thereafter diligently proceed with such repairs and/or restoration. In the event that the Building is damaged or destroyed from any causeinsured peril and there are insufficient insurance proceeds available to repair or restore the Building, Landlord may, at its option: upon written notice to Tenant, given within thirty (a30) Rebuild or restore days after the Premises to their condition prior to the occurrence of such damage or destruction, or elect to terminate this Lease; provided, however, Tenant may, within thirty (b30) Terminate 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 (providing that the Premises are damaged to the extent of thirty-three shall remain in full force and one third percent (33 1/3%) or more of the replacement costeffect, exclusive of footings, foundations and floor slabs)Landlord shall thereafter diligently proceed with such repairs and/or restoration. If Landlord does not give Tenant notice, such notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Leasesuch period, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense except for any deductible, which is the responsibility Building and the sitework outside the perimeter walls of the TenantBuilding, promptly if damaged, to the extent of insurance proceeds available to Landlord. Any shortfall in insurance proceeds available to Landlord to rebuild or restore the Premises 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, if applicable, Landlord shall promptly rebuild or restore the applicable Building and such sitework to their condition prior to the damage or destruction. Tenant also shall be entitled pay to a reduction in Rent Landlord upon commencement of reconstruction the amount of any deductible from the date insurance policy. In the event the Building is damaged or destroyed from an insured peril, and if there are adequate insurance proceeds available to Landlord to rebuild or restore the Building, then Landlord shall promptly rebuild or restore the applicable Building and also repair the sitework outside of the perimeter walls of the Building, if damaged, to their condition prior to such damage or destruction. In such event, Tenant shall pay to Landlord upon commencement of reconstruction, the amount of any deductible from the insurance policy. In the event that, pursuant to the foregoing provisions, Landlord is to rebuild or restore the Building, Landlord shall, within thirty (30) days after the occurrence of such damage or destruction, provided provide Tenant is not using any portion with written notice of such damaged area, while the estimated time required for such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premisesor restoration. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within such period is longer than one hundred eighty (180) days following from the date of the 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 acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargosembargoes, 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) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives . Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild repair or restore shall be limited to the a Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, personal property or merchandise, or any improvements, 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 canceled 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 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 provision provisions of Section 1932, Subdivision 2, in 2 and Section 1933, Subdivision 4 of the California Civil Code. In the event the Expansion Project, or any event that the Building in which the Premises are situated portion thereof, is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereofdestroyed, Landlord may elect shall have no obligation to repair, restore or rebuild the same and Tenant shall have no right to terminate this LeaseLease as a result thereof If any portion of the Expansion Project is damaged or destroyed, whether Tenant shall have the Premises be injured right, during the Lease Term, to rebuild or not. Notwithstanding anything 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 contrary herein, Landlord may terminate this Lease in the event of an uninsured event construction or if insurance proceeds are insufficient to cover one hundred percent installation of the rebuilding costs net 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 deductible. Without regard to whether this Lease is terminated pursuant to Expansion Project, or applicable portion thereof, and maintain the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share balance of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)Expansion Project in safe condition and repair.

Appears in 1 contract

Sources: Sublease (New Focus Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are is damaged to the extent of thirty-three and one third percent (33 1/3%) % or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period180 days. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Leased Premises. Notwithstanding anything herein to the contrary, Landlord’s Landlords obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) % of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Yodlee Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are is damaged to the extent of thirty-three and one third percent (33 1/3%) % or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period180 days. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Leased Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Multi Tenant/Single Parcel Page 16 of 23 Initial: BUILDING: West Bayshore PROPERTY: 40-0002 UNIT: 2 LEASE ID: 0002-OPTI01-01 Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) % of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Opti Inc)

Destruction. In the event the Premises are destroyed in whole or in part ----------- from any cause, Landlord except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are is damaged to the extent of thirty33-three and one third percent (33 1/3%) or more % of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of rent following such damage or destruction, provided Tenant is not using any portion of such damaged area, destruction and while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 one hundred eighty (180) days or ninety (90) days if occurring during the last twelve (12) months of the Lease term, or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction or ninety (90) days during the last twelve (12) months of the Lease term, (such period of time to 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 embargosembargoes, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, 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 's sole cost and expense provided this Lease is not canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any the event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty33-three and one third percent (33 1/3%) % of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Egain Communications Corp)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under Paragraph Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease TERMINATE THIS LEASE. (providing that the Premises are is damaged to the extent of thirty-three and one third percent (33 1/3%) or more % of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 expense, except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. destruction Tenant shall be entitled to a reduction in Rent rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the a proportion that the area of the Premises rendered untenantable by untenable a such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).fifteen

Appears in 1 contract

Sources: Lease Agreement (Divine Inc)

Destruction. In 22.1 Tenant shall give prompt notice to Landlord in case of any fire or other damage to the event Demised Premises or the building. If the Demised Premises are destroyed in whole shall be partially damaged by fire or in part from any causeother casualty insured under the Landlord's insurance policies, then upon Landlord's receipt of the insurance proceeds, Landlord mayshall, at its option:except as otherwise provided herein, promptly repair and restore the same (exclusive of Tenant'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 Landlord; such repair and restoration to be (ai) Rebuild or restore If both the Demised Premises to their condition prior to and the damage or destruction, or (b) Terminate this Lease (providing that the Demised Premises are shall be damaged to the extent of thirty-three and one third percent twenty five (33 1/325%) percent or more of the cost of replacement cost, exclusive thereof; (ii) the Demised Premises or the building of footings, foundations and floor slabs). If Landlord does which the Demised Premises are a par shall be destroyed or partially damaged as a result of a risk not give Tenant notice, in writing within thirty insured by Landlord; or (30iii) days from the destruction 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 of its election to either rebuild and restore them, or to terminate this Lease, Landlord shall be deemed damaged to have elected to rebuild the extent of fifty (50%) percent or restore them, in which event Landlord agrees, at its expense except for any deductible, which is the responsibility more of the Tenant, promptly to rebuild cost of replacement thereof whether or restore not the Demised Premises to their condition prior to the damage or destruction. Tenant shall be entitled to 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 reduction in Rent from the date period of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following after such damage or destruction, then or in any such event. Landlord may elect to repair the damage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within ninety (90) days after the date of destruction (such period of occurrence, and thereupon this Lease shall cease and terminate with the same force and effect as though the time to be extended set forth in the Landlord's said notice were the date herein fixed 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 embargos, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay expiration of the contractors or subcontractors due Lease term; and Tenant shall vacate and surrender the Demised Premises to such causes or Landlord. Upon the termination of this Lease, as addressed, Tenant's liability from the Minimum Guaranteed Rent and other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more charges reserved hereunder shall cease as of the replacement cost (exclusive date of footings, foundations and floor slabs) and provided the such damage or destruction does the Landlord shall make an equitable refund of any Minimum Guaranteed Rental and other charges paid by Tenant in advance and not result from routine maintenance and repairs earned. If there is a destruction, as set forth in subdivision (iii) or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), v) of this Article. Tenant shall have the right a like option to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Periodterminate, but under subdivision (iii). Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrarygive notice thereof before Landlord commences repair or restoration, Landlord’s obligation to rebuild or restore and in any event such notice shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. given within thirty (30) days after such destruction. 22.2 Unless this Lease is terminated pursuant to the foregoing provisionsby Landlord or Tenant as aforesaid, this Lease shall remain in full force and effecteffect and the parties waive the provisions of law to the contrary, and Tenant shall repair, restore or replace Tenants trade fixtures, decorations, improvements, signs and contents in the Demised Premises in a rammer and to at least a condition equal to that existing prior to their damage or destruction and the proceeds of all insurance carried by Tenant on said property shall be held by Tenant for the purposes of said repairs, restoration or replacement. Tenant hereby expressly waives If by reason of such fire or other casualty the provision Demised Premises is rendered wholly untenantable, the Minimum Guaranteed Rental shall be fully abated, or if only partially damaged, such Minimum Guaranteed Rental shall be abated proportionately as to that potion of Section 1932the Demised Premises rendered untenantable, Subdivision 2the Minimum Guaranteed Rental shall be totally abated, or if only partially damaged, such Minimum Guaranteed Rental shall be abated proportionally as to that portion of the Demised Premises rendered untenantable, in Section 1933, Subdivision 4 of the California Civil Code. In any either event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, unless Landlord may shall elect to terminate this Lease, whether as aforesaid) until fifteen (15) days after notice by Landlord to Tenant that the Demised Premises be injured have been substantially repaired or notrestored or until Tenant's business operations are restored in the entire Demised Premises, whichever shall occur sooner. Notwithstanding anything Tenant shall continue the operation of Tenant's business in the Demised Premises, whichever shall occur sooner. Tenant shall continue the operation of Tenant's business in the Demised Premises or any part thereof not so damaged during any such period to the contrary hereinextent reasonable practicable from the standpoint of prudent business management. 22.3 Tenant shall not be entitled to and hereby waives all claims against Landlord for any compensation or damage for loss or use of the whole or any part of the Demised Premises and/or from any inconvenience or annoyance occasioned by any such damage, destruction, repair or restoration. 23.4 Despite anything contained in this Lease to the contrary, and without limiting the Landlord's right or remedies hereunder Landlord may may, without obligation or liability to Tenant, terminate this Lease with thirty (30) days prior written notice to the Tenant and all Minimum Guaranteed Rental and other charges shall be adjusted as of, and Tenant shall vacate and surrender the Demised Premises on, such termination date: (a) If damage or destruction occurs to the Demised Premises or any part thereof by reason of any cause in respect of which there are no proceeds of insurance available to Landlord, or (b) If the event proceeds of an uninsured event or if insurance proceeds are insufficient to cover pay Landlord for the costs of rebuilding or making fit for occupancy (including architectural fees) the Demised Premises or any part thereof (including the Demised Premises), or (c) If any mortgagee or other person or entity entitled to the proceeds of insurance does not consent to the payment to Landlord of such proceeds for such purpose, or (d) If in the Landlord's opinion any such damage or destruction is caused by any neglect, default, negligence, act or omission of Tenant, or those for whom Tenant is in lawfully responsible, or any other person entering upon the Demised Premises under express or implied invitation of Tenant. (e) Should Landlord elect to repair, reconstruct or rebuild the Demised Premises the Demised Premises or any parts thereof Landlord may use plans, specifications and working drawings other than those used in the original construction of the Demised Premises or any part thereof. (f) If all or part of the Demised Premises is destroyed or damaged as set forth in this Article, the Architect designated by Landlord shall determine the extent of such destruction or damage and provide Landlord with a certificate a testing to the condition of the Demised Premises and the Demised Premises the certificate of the Architect shall bind the parties as to: (g) The percentage of replacement cost of the Demised Premises or Demised Premises damaged or destroyed: and (h) Whether or not Demised Premises cannot be used by the Tenant for a period of one hundred percent eight (180) days or more after the occurrence of the rebuilding costs net damage of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)destruction.

Appears in 1 contract

Sources: Lease Agreement (Oleramma 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 in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged insured peril to the extent of thirty-three and one third fifty percent (33 1/350%) or more of the then replacement costcost of the Premises, exclusive Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of footingssuch damage or destruction, foundations and floor slabs)elect to terminate this Lease. If Landlord does not give Tenant notice, such notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Leasesuch period, Landlord shall be deemed to have elected to rebuild or restore themthe Premises, in which event Landlord agreesshall, at its expense except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. destruction and Tenant shall be entitled pay to a reduction in Rent Landlord upon commencement of reconstruction the amount of any deductible from the date insurance policy. 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. 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, provided provide Tenant is not using any portion with written notice of such damaged area, while the estimated time required for such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premisesor restoration. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within such period is longer than one hundred eighty (180) days following from the date of the 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 acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargosembargoes, 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) (the “Allowed Restoration Period”), then, provided . Landlord's obligation to repair or restore the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s '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, which Tenant shall forthwith replace or fully repair at Tenant’s sole cost and expense provided this Lease is not canceled 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 provision provisions of Section 1932, Subdivision 2, in 2 and Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Western Digital Corp)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under Paragraph 7. Landlord may, at its it option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are is damaged to the extent of thirty-three and one third percent (33 1/3%) or more % of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice CD to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements improvements" constructed by Landlord as they existed as of the Commencement Date commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant’s 's sole cost and expense provided this Lease is not canceled 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. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any the event that the Building building in which the Premises Promises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) 331/3% of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may May terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard deductible subject however, to whether this Lease is terminated pursuant Tenant's right to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share cover 100% of the deductibles from any casualty policy Landlord carries pursuant deficit amount necessary to Paragraph 17 (“Property Insurance”)cover 100% of said costs.

Appears in 1 contract

Sources: Lease Agreement (Oni Systems 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 cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged insured peril to the extent of thirty-three and one third fifty percent (33 1/350%) or more of the then replacement costcost of the Premises, exclusive Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of footingssuch damage or destruction, foundations and floor slabs)elect to terminate this Lease. If Landlord does not give Tenant notice, such notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore themsuch period, or to terminate this Lease, 18 Landlord shall be deemed to have elected to rebuild or restore themthe Premises, in which event Landlord agreesshall, at its expense except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. destruction and Tenant shall be entitled pay to a reduction in Rent Landlord upon commencement of reconstruction the amount of any deductible from the date insurance policy, subject to limitations set forth in 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, subject to limitations set forth in 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, provided provide Tenant is not using any portion with written notice of such damaged area, while the time required for such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premisesor restoration. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within such period is longer than one hundred eighty (180) days following from the date issuance of destruction 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 acts of God, acts of public agenciespublication, labor disputes, strikes, fires, freight embargosembargoes, 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) (the “Allowed Restoration Period”), then, provided . Landlord's obligation to repair or restore the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or but shall include restoration of any improvements, 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 canceled according pursuant to the provisions aboveParagraph 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 provision provisions of Section 1932, Subdivision 2, in 2 and Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate If this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated terminates pursuant to the foregoingprovisions of this Paragraph 16, Tenant, upon demand by Landlord, Tenant shall pay be entitled to Landlord Tenant’s Proportionate Share receive that portion of the deductibles from any casualty policy Landlord carries 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 17 (“Property Insurance”)13, which alterations, additions and improvements shall be amortized on a straight line basis over the initial Lease Term.

Appears in 1 contract

Sources: Sublease Agreement (Netgear Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord except damage and destruction caused from vandalism or accident for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are is damaged to the extent of thirty-three and one third percent (33 1/3%) or more % of the replacement cost, exclusive of footings, foundations and floor slabscost or to any extent if the damage is not covered by insurance). If Landlord does not shall give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which . In the event Landlord agrees, at its expense except for any deductible, which is the responsibility of the Tenant, promptly agrees to rebuild or restore the Premises to their condition prior to the damage or destructionPremises, Landlord shall do so promptly at its expense. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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, firestires, freight embargosembargoes, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving thirty (30) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, 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 's sole cost and expense provided this Lease is not canceled 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. Tenant hereby expressly waives the provision any statutory rights of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 termination which may arise by reason of the California Civil Codeany partial or total destruction of Premises. In any the event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) % of the replacement cost costs thereof, Landlord may elect to terminate this Lease, Lease whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in In the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent the destruction of the rebuilding costs net of the deductible. Without regard to whether this Lease Premises is terminated pursuant to the foregoing, caused by Tenant, upon demand by Landlord, Tenant shall pay to Landlord Tenant’s Proportionate Share the deductible portion of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)Landlord's insurance proceeds.

Appears in 1 contract

Sources: Lease Agreement (Details Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are is damaged to the extent of thirty-three and one third percent (33 1/3%) or more % of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargosembargoes, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant’s 's sole cost and expense provided this Lease is not canceled 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. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any the event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) % of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent 100% of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Bluestone Software Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord except damage and destruction caused from vandalism or accident for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option: : (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or or (b) Terminate this Lease Lease, provided that (providing that i) the Premises are Building is damaged to the extent of thirty-three and one third fifty percent (33 1/350%) or more of the replacement costcost thereof (i) the damage is not covered by insurance, exclusive 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 footingsthe replacement cost of the Building ("Base Amount"), foundations and floor slabsunless Tenant agrees to pay the cost of repair in excess of the Base Amount, 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 notice to Tenant). If Landlord does not shall give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which . In the event Landlord agrees, at its expense except for any deductible, which is the responsibility of the Tenant, promptly agrees to rebuild or restore the Premises to their condition prior to the Premises, Landlord shall do so promptly at its expense. Unless such damage is caused by Tenant or destruction. Tenant's agents, or employees, and Landlord does not receive compensation by way of rental interruption insurance therefore, Tenant shall be entitled to a reduction in Rent from an abatement of rent to the date extent of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area interference with Tenant's use of the Premises rendered untenantable by such damage bears to the total area of the Premisesoccasioned thereby. If Landlord initially estimates that the rebuilding or restoration will exceed 180 ninety (90) days or if Landlord does not complete the rebuilding or restoration within one hundred eighty ninety (18090) days following the date of destruction (such period of time to 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 embargosembargoes, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving ten (10) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to in the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s '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 's sole cost and expense provided this Lease is not canceled 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. Tenant hereby expressly waives the provision any statutory rights of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 termination which may arise by reason of any partial or total destruction of the California Civil CodePremises. In any event that To the Building in which extent the damage or destruction of the Premises are situated is damaged caused by Tenant or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereofTenant's employees, Landlord may elect to terminate this Leaseagents or independent contractors, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, Tenant shall pay to Landlord Tenant’s Proportionate Share the deductible portion of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)Landlord's insurance proceeds.

Appears in 1 contract

Sources: Lease Agreement (Logic Devices Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, ; or (b) Terminate this Lease Lease. (providing that the Premises are is damaged to the extent of thirty-three and one third percent (33 1/3%) or more % of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargosembargoes, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”landlord), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date commencement of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvementsImprovements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant’s 's sole cost and expense provided this Lease is not canceled 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. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any the event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty33-three and one third percent (33 1/3%) % of the replacement cost thereof, . Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent 100% of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Autoweb Com Inc)

Destruction. In 13.01 If, during the event initial term or renewal term of this Lease, the Common Improvements and/or Demised Premises are destroyed in whole or in part from any cause, Landlord may, at its optionare: (a) Rebuild destroyed by fire or restore the Premises to their condition prior to the damage or destructionany other casualty whatsoever, or; (b) Terminate this Lease partially destroyed so as to render the Demised Premises unfit for occupancy or Lessee’s reasonable beneficial use and enjoyment or conduct of Lessee’s usual business therein, or; (providing c) destroyed by a casualty which is not covered by Lessor’s insurance, or if such casualty is covered by Lessor’s insurance but a mortgagee of Lessor or other party entitled to insurance proceeds fails to make such proceeds available to Lessor in an amount sufficient for restoration of the Demised Premises and/or Common Improvements (provided, however, that the Premises are damaged Lessor agrees to make a good faith effort to have such mortgagee make such proceeds available for full restoration or rebuilding); then Lessor shall make its reasonable determination as to the extent length of thirty-three and one third percent (33 1/3%) or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, in writing time to complete such repairs within thirty (30) days from the destruction of the Premises casualty and shall notify Lessee of its election same as provided herein. In the event restoration is reasonably estimated by Lessor to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent take more than one hundred twenty (120) days from the date of such damage the destruction or destructioncasualty, provided Tenant is not using any portion of such damaged area, while such repair is being made or in the proportion that event the area above described destruction or casualty should occur within the last two (2) years of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding Lease, then Lessor or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant Lessee shall have the right to terminate this Lease by giving written notice to Landlord within five days following Agreement. In the date Tenant receives Landlord’s written notice stating event that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease Agreement is terminated pursuant to in accordance with the foregoing provisions, this Lease Lessee shall remain in full force surrender within thirty (30) days of notification the Demised Premises and effectCommon Improvements and interest therein, and Lessee shall pay rent only to the time of such destruction or casualty. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 In case of the California Civil Code. In any event that the Building in which the Premises are situated is damaged total or destroyed partial damage or destruction to the extent Demised Premises and/or Common Improvements, Lessor shall re-enter and repossess the same or any part thereof for the purpose of not less than thirty-three removing or repairing the loss or damage and one third percent (33 1/3%) shall proceed with due diligence to the repair of same unless, under the foregoing provisions of this Article XIII, the Lease Agreement shall have been terminated. The Rent during the period of such repairs shall be wholly abated if all of the Demised Premises and/or Common Improvements have been thus repossessed by Lessor or otherwise made unavailable to Lessee for Lessee’s reasonable beneficial use and enjoyment or Lessee’s conduct of Lessee’s usual business therein for the purpose of repair for the period that Lessee has been dispossessed; and if only a portion of the Demised Premises and/or Common Improvements is thus repossessed or otherwise unavailable to Lessee for Lessee’s reasonable beneficial use and enjoyment or Lessee’s conduct of Lessee’s usual business therein, the Rent shall be abated for such dispossession or unavailability pro rata, based on the portion of the Demised Premises and/or Common Improvements thus repossessed or rendered unavailable during the period of repossession or unavailability. Any Rent abatement under this Article XIII shall commence as of the date of the destruction. Lessor shall not be required to rebuild, repair, or replace any part of the personal property, furniture, equipment, fixtures, and other improvements which may have been placed by Lessee or other lessees within the Demised Premises or Common Improvements, unless the damage thereto is caused by the sole negligence or willful act or omission or default hereunder of Lessor or Lessor’s agents, employees, subtenants, assignees, or independent contractors. Any insurance which may be carried by Lessor or Lessee for damage to the Demised Premises or to any personal property, fixtures, and related items therein shall be for the sole benefit of the party carrying such insurance and under its sole control; provided, however, Lessor shall carry insurance for the benefit of Lessor and Lessee sufficient to cover the full replacement cost thereof, Landlord may elect to terminate this Lease, whether of the shell of the Demised Premises be injured or not. Notwithstanding anything and an amount equal to the contrary hereininitial Tenant Improvements, Landlord may terminate this Lease in and other improvements that Lessor shall have liability therefore under Article VII. Should the event of an uninsured event Demised Premises or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease Common Improvements be destroyed or damaged by fire or other casualty that is terminated pursuant due to the foregoingnegligence or willful or wanton conduct of Lessee or Lessee’s agents, Tenantemployees, upon demand by Landlordsubtenants, assignees or independent contractors, Lessor may repair such damage, and there shall pay to Landlord Tenant’s Proportionate Share be no apportionment or abatement of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)Rent.

Appears in 1 contract

Sources: Lease Agreement (Benefitfocus,Inc.)

Destruction. In the event that any portion of the Premises are destroyed or damaged by an uninsured peril 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 in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged insured peril to the extent of thirty-three and one third fifty percent (33 1/350%) or more of the then replacement costcost of the Premises, exclusive Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of footingssuch damage or destruction, foundations and floor slabs)elect to terminate this Lease. If Landlord does not give Tenant notice, such notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Leasesuch period, Landlord shall be deemed to have elected to rebuild or restore themthe Premises, in which event Landlord agreesshall, at its expense except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. destruction and Tenant shall be entitled pay to a reduction in Rent Landlord upon commencement of reconstruction Tenant's Pro-Rata Share of the amount of any deductible from the date insurance policy. 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. 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, provided provide Tenant is not using any portion with written notice of such damaged area, while the time required for such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premisesor restoration. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within such period is longer than one hundred eighty (180) days following 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 as of the date of destruction (such 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 acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargosembargoes, 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) (the “Allowed Restoration Period”), then, provided . Landlord's obligation to repair or restore the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, 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 canceled 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 provision provisions of Section 1932, Subdivision 2, in 2 and Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Oplink Communications Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destructiondestruction (providing that the Premises is damaged to the extent of 33-1/3% of the replacement cost), or (b) Terminate this Lease (providing that the Premises are damaged to the extent of thirty-three and one third percent (33 1/3%) or more of the replacement cost, exclusive of footings, foundations and floor slabs)Lease. If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 expense, except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty eight (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant’s 's sole cost and expense provided this Lease is not canceled 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. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any the event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty33-three and one third percent (33 1/3%) % of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Scios Inc)

Destruction. In Should the event Building, Premises or any portion of the Premises are destroyed in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore material to Tenant’s use of the Premises to their condition prior to the damage be so damaged by fire or destruction, or (b) Terminate this Lease (providing other cause that the Premises are damaged to the extent of thirty-three and one third percent (33 1/3%) rebuilding or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant noticerepairs cannot, in writing the opinion of L▇▇▇▇▇▇▇’s architect (the “Opinion”), be completed within thirty one hundred eighty (30180) days from the destruction date of the Premises of its election to either rebuild and restore themfire, or to other cause of damage, then either Landlord or, if the casualty is not the fault of Tenant, Tenant may terminate this Lease, Landlord shall be deemed Lease by written notice to have elected to rebuild or restore themthe other given within fifteen (15) days of receipt of notice of the Opinion, in which event Landlord agrees, at its expense except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant Rent shall be entitled to a reduction in Rent abated from the date of such damage or destruction. However, provided Tenant if the damage or destruction is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration repairs can be completed within one hundred eighty (180) days following days, Landlord covenants and agrees, subject to the date provisions of destruction (this paragraph, to make such period repairs with reasonable promptness and dispatch and, if the casualty is not the fault of Tenant, to allow Tenant an abatement in the Rent for such time as the Premises are untenantable or proportionately for such portion of the Premises as shall be untenantable, and Tenant covenants and agrees that the terms of this Lease shall not be otherwise affected. Repairs and restoration to base Building improvements required by this Lease to be extended furnished by Landlord at its expense shall be made at Landlord’s expense. Such repairs and restoration relating to Tenant’s initial leasehold improvements or improvements otherwise made by or 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlordbe made at Tenant’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building expense in accordance with plans and interior improvements constructed specifications approved by Landlord as they existed as of the Commencement Date of the Lease and Tenant. In no event shall not include restoration of Tenant’s Landlord be required to repair or replace any trade fixtures, equipmentfurniture, merchandiseequipment or other property belonging to Tenant; nor shall Landlord have any obligation to incur any cost to repair, reconstruct or any improvements, alterations restore the Premises 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which excess of insurance proceeds from the Premises casualty necessitating such work that are situated is damaged or destroyed made available to the extent of not less than thirty-three Landlord and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or notunder its sole control. Notwithstanding anything to the contrary hereincontrary, Landlord either party may terminate this Lease in the event that Landlord maintained all casualty insurance in full compliance with the requirements of an uninsured event or if this Lease, the insurance proceeds made available to Landlord are insufficient to cover one hundred percent repair, reconstruct or restore the Premises or the Building in accordance with the terms hereof and Landlord does not intend to repair or restore the Premises as a result, by giving written notice to the other within thirty (30) days following the date of Tenant receiving notice of such determination by Landlord. Notwithstanding anything to the contrary, if the Building is substantially damaged or destroyed by Casualty at any time during the last year of the rebuilding costs net Lease Term, and Landlord elects not to rebuild and restore the leasehold improvements in the Premises for Tenant, then Landlord may terminate this Lease upon notice to Tenant within sixty (60) days after the damage date provided that if Landlord exercises such election to terminate and Tenant has any unexercised option to extend the Lease Term, then Tenant may nullify Landlord’s asserted termination of this Lease by exercising Tenant’s right to extend the Lease Term, for the Renewal Term within thirty (30) days after receipt of Landlord’s notice of termination. Also, notwithstanding anything in this Article 22 to the contrary, if either the Premises is damaged or destroyed by casualty, or if any portion of the deductible. Without regard Building or Building other than the Premises (including the Parking Facility) is damaged or destroyed by casualty so that Tenant’s use or enjoyment of or access to whether the Premises, the Building or access to and the use of the Parking Facility is adversely affected, and such casualty occurs during the last year of the Lease Term, Tenant may terminate this Lease upon notice to Landlord within sixty (60) days after the damage date, provided that Tenant reasonably determines that the continuation of this Lease is terminated pursuant impracticable giving due consideration to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)Lease Term which would remain after restoration.

Appears in 1 contract

Sources: Lease Agreement (Compass Sub North, Inc.)

Destruction. In the event If the Premises are destroyed 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 whole or in this Section; and during the period required for restoration, a just and proportionate part from any cause, Landlord may, at its option: (a) Rebuild or restore of Rent shall be abated until the Premises to their condition prior to the damage are repaired or destruction, or rebuilt. If (bi) Terminate this Lease (providing that the Premises are damaged to the such an extent of thirty-three and one third percent (33 1/3%) or more of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant noticethat repairs cannot, in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore themLandlord’s judgment, 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 except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration completed within one hundred eighty (180) days following after the date of destruction (such period the commencement of time to be extended for delays caused by repair of the fault or neglect of Tenant or because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargos, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractorscasualty, or delay (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 contractors Lease Term, or subcontractors due (iv) the Building is damaged in whole or in part (whether or not the Premises are damaged) to such causes or other contingencies beyond an extent that the control 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 Landlord) (the “Allowed Restoration Period”), then, provided event triggering the right of termination. If the Premises is are (i) damaged to such an extent that repairs cannot, in Landlord’s judgment, be completed within one hundred eighty (180) days after the extent of 33 1/3% or more date of the replacement cost commencement of repair of the casualty, or (exclusive ii) substantially damaged during the last eighteen (18) months of footingsthe Lease Term, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which then Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right may elect to terminate this Lease by giving written notice in writing to Landlord within five the later of (x) thirty (30) days following after the date Tenant receives occurrence of the event triggering the right of termination or (y) in the case of (i) above, fifteen (15) days after Landlord’s written notice stating to Tenant that the restoration will exceed the Allowed Restoration Periodrepairs cannot be completed within one hundred eighty (180) days. Regardless of whether Unless Landlord and/or or Tenant elects to terminate this Lease as provided above, the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall will remain in full force and effect. Tenant hereby expressly waives , and Landlord shall repair the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed 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 not less than thirty-three this Section to repair or rebuild because of any damage or destruction, Landlord’s obligation shall be limited to the original Building and one third percent (33 1/3%) 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 replacement Tenant Improvement Allowance shall be Tenant’s responsibility. If the cost thereofof performing the repairs exceeds the actual proceeds of insurance paid or payable to Landlord on account of the casualty, Landlord may elect 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 terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary hereinit, Landlord may terminate this Lease in the Lease. In no event shall Landlord be liable for any loss or damage sustained by Tenant by reason of an uninsured event casualties mentioned above or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”)other accidental casualty.

Appears in 1 contract

Sources: Lease Agreement (Adamas One Corp.)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord except for routing maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible under ▇▇▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are is damaged to the extent of thirty33-three and one third percent (33 1/3%) or more % of the replacement cost, exclusive of footings, foundations and floor slabs). ) If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 expense, except for any deductible, which is the responsibility of the Tenant, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargosembargoes, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant’s 's sole cost and expense provided this Lease is not canceled 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. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any the event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty33-three and one third percent (33 1/3%) % of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Brio Technology Inc)

Destruction. In the event the Premises are destroyed in whole or in part from any cause, Landlord except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, ; or (b) Terminate this Lease (providing that the Premises are is damaged to the extent of thirty-three and one third percent (33 1/3%) or more % of the replacement cost, exclusive of footings, foundations and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, 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 except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, rent while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargosembargoes, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease Leases by giving fifteen (15) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s 's obligation to rebuild or restore shall be limited to the Building building and interior improvements constructed by Landlord as they existed as of the Commencement Date commencement date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant’s 's sole cost and expense provided this Lease is not canceled 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. Tenant hereby expressly waives the provision provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any the event that the Building building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) % of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Paradigm Technology Inc /De/)

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 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~ ▇▇ects 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 in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged insured peril to the extent of thirty-three and one third fifty percent (33 1/3%50~) or more of the then replacement costcost of the Premises, exclusive Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of footingssuch damage or destruction, foundations and floor slabs)elect to terminate this Lease. If Landlord does not give Tenant notice, such notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Leasesuch period, Landlord shall be deemed to have elected to rebuild or restore themthe Premises, in which event Landlord agreesshall, at its expense except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. destruction and Tenant shall be entitled pay to a reduction in Rent Landlord upon commencement of reconstruction the amount of any deductible from the date insurance policy. 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. 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, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such period of time to 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall each have the right to terminate this Lease by giving written notice to Landlord within five days following if (a) the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates damage to the Premises. Notwithstanding anything herein to Premises occurs at any time during the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date last eighteen (18) months of the Lease Term and shall not include restoration (b) it is estimated that the necessary repairs will take more than sixty (60) days to complete from the date of Tenant’s trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions abovedamage. 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 provision provisions of Section 1932, Subdivision 2, in 2 and Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (3dfx Interactive Inc)

Destruction. In the event that any portion of the Premises are destroyed in whole or in part from any causedamaged by an uninsured peril, Landlord or Tenant may, at its option: (a) Rebuild or restore the Premises to their condition prior upon written notice to the other, given within thirty (30 days after the occurrence of such damage or destruction, or elect to terminate this Lease; provided however, that either party may, within thirty (b30) Terminate 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 (providing 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 restorations. In the event that any portion of the Premises are destroyed or damaged by an uninsured peril to the extent of thirty-three and one third fifty percent (33 1/350%) or more of the then replacement costcost of the Premises, exclusive landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of footingssuch damage or destruction, foundations and floor slabs)elect to terminate this Lease. If Landlord does not give Tenant notice, such notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Leasesuch period, Landlord shall be deemed to have elected to rebuild or restore themthe Premises, in which event Landlord agreesevent, Landlord, shall at its expense except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. destruction and Tenant shall be entitled pay to a reduction in Rent Landlord upon commencement of reconstruction the amount of any deductible from the date insurance policy. 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, provided provide Tenant with written notice of the time required for such repair or restoration. If such period is not using any portion 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 damaged areaelection, while such repair is being made in whereupon the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the PremisesLease shall immediately terminate. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty (180) days following the date of destruction (such 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 agenciespublication, labor disputes, strikes, fires, freight embargosembargoes, 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) (the “Allowed Restoration Period”), then, provided . Landlord's obligation to repair or restore the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Elexsys International 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 in whole or in part from any cause, Landlord may, at its option: (a) Rebuild or restore the Premises to their condition prior to the damage or destruction, or (b) Terminate this Lease (providing that the Premises are damaged insured peril to the extent of thirty-three and one third fifty percent (33 1/350%) or more of the then replacement costcost of the Premises, exclusive Landlord may, upon written notice to Tenant, given within thirty (30) days after the occurrence of footingssuch damage or destruction, foundations and floor slabs)elect to terminate this Lease. If Landlord does not give Tenant notice, such notice in writing within thirty (30) days from the destruction of the Premises of its election to either rebuild and restore them, or to terminate this Leasesuch period, Landlord shall be deemed to have elected to rebuild or restore themthe Premises, in which event Landlord agreesshall, at its expense except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. destruction and Tenant shall be entitled pay to a reduction in Rent Landlord upon commencement of reconstruction the amount of any deductible from the date insurance policy. 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. 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, provided provide Tenant with written notice of the time required for such repair or restoration. If such period is not using any portion longer than NINETY (90) 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 damaged areaelection, while such repair is being made in whereupon the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the PremisesLease shall immediately terminate. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or restoration within one hundred eighty IF LANDLORD UNDERTAKES SUCH REPAIRS AND IS NOT COMPLETED WITHIN ONE HUNDRED TWENTY (180120) days following the date of destruction (such 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 acts of God, acts of public agenciespublication, labor disputes, strikes, fires, freight embargosembargoes, 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) (the “Allowed Restoration Period”), then, provided . Landlord's obligation to repair or restore the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), Tenant shall have the right to terminate this Lease by giving written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s 's trade fixtures, equipment, merchandise, or any improvements, 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 canceled 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 provision provisions of Section 1932, Subdivision 2, in 2 and Section 1933, Subdivision 4 of the California Civil Code. In any event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one third percent (33 1/3%) of the replacement cost thereof, Landlord may elect to terminate this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover one hundred percent of the rebuilding costs net of the deductible. Without regard to whether this Lease is terminated pursuant to the foregoing, Tenant, upon demand by Landlord, shall pay to Landlord Tenant’s Proportionate Share of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”).

Appears in 1 contract

Sources: Lease Agreement (Novellus Systems Inc)

Destruction. In the event the Premises are damaged or destroyed in whole or in part from any causecause and the repair of such damage will cost more than thirty-three percent (33%) of the replacement cost of the Premises, Landlord Lessor may, at its option: , (a1) Rebuild rebuild or restore the Premises to their condition prior to the damage or destructiondestruction or (2) terminate the Lease, or (b) Terminate subject to the terms and conditions of this Lease (providing that Section 15. If the damage to the Premises are damaged to the extent of will cost more than thirty-three and one third percent (33 1/333%) or more of the replacement cost, exclusive cost of footings, foundations the Premises and floor slabs). If Landlord does not give Tenant notice, notice in writing within thirty (30) days from the destruction of the Premises of its election either to either rebuild and restore themthe 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 except for any deductible, which is the responsibility of the Tenantexpense, promptly to rebuild or restore the Premises to their its condition prior to the damage or destruction. Tenant shall be entitled to a reduction in Rent from the date of such damage or destruction, provided Tenant is not using any portion of such damaged area, while such repair is being made in the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding or and restoration within one hundred eighty (180) days following the date of destruction (such period of time to it being understood that in no event shall the rebuilding and restoration be extended deemed complete unless and until the Premises are no longer Untenantable and the Common Areas functional 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 embargos, 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 or other contingencies beyond the control of Landlord) (the “Allowed Restoration Period”all purposes hereunder), then, provided the Premises is damaged to the extent of 33 1/3% or more of the replacement cost (exclusive of footings, foundations and floor slabs) and provided the damage or destruction does not result from routine maintenance and repairs or damage or destruction caused by vandalism and accidents for which Tenant is responsible under Paragraph 10 (“Tenant Maintenance”), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord within five days following the date Tenant receives Landlord’s written notice stating that the restoration will exceed the Allowed Restoration Period. Regardless of whether Landlord and/or Tenant elects to terminate the Lease early as provided herein, Tenant shall remain liable for the insurance deductible as it relates to the Premises. Notwithstanding anything herein to the contrary, Landlord’s obligation to rebuild or restore shall be limited to the Building and interior improvements constructed by Landlord as they existed as of the Commencement Date of the Lease and shall not include restoration of Tenant’s trade fixtures, equipment, 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 canceled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provision of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In any the event that the Building in which the Premises are situated is damaged or destroyed to the extent of not less than thirty-three and one one-third percent (33 1/3%) of the replacement cost thereof, Landlord at its expense, shall promptly rebuild or restore the Premises to its condition prior to the damage or destruction, unless Tenant exercises its right to terminate this Lease. In the event the Premises are damaged or destroyed in whole or in part from any 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 total rentable area of the 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, as restored following such damage, destruction or casualty has been obtained (if such certificate is required by applicable law). The term “Untenantable,” when used with respect to the Premises, or 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 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 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 LeaseLease by providing Landlord written notice no later than thirty (30) days following delivery of the Restoration Completion Estimate to Tenant or, whether in the Premises be injured case of damage, destruction or notcasualty occurring in the last one hundred twenty (120) days of the Term (as may have been extended by the Extension Term), within thirty (30) days after the occurrence of such damage, destruction or casualty. Notwithstanding anything Landlord and Tenant agree that the foregoing provisions of this Section 16 are to the contrary herein, Landlord may terminate this Lease govern their respective rights and obligations in the event of an uninsured event any damage, destruction or if insurance proceeds casualty and supersede and are insufficient to cover one hundred percent in lieu of the rebuilding costs net 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 deductible. Without regard to whether this Lease is terminated pursuant to the foregoingprovisions of California Civil Code Section 1932, TenantSubsection 2, upon demand by Landlordand Section 1933, shall pay to Landlord Tenant’s Proportionate Share Subsection 4 and any successor statute or laws of the deductibles from any casualty policy Landlord carries pursuant to Paragraph 17 (“Property Insurance”a similar nature).

Appears in 1 contract

Sources: Lease Agreement (Mobileiron, Inc.)