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 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 is damaged to the extent of 33 1/3% of the replacement cost). 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, 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 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductible.
Appears in 1 contract
Sources: Lease Agreement (Autoweb Com Inc)
Destruction. In If, during the event Term, the Premises or Project are more than twenty-five percent (25%) destroyed in whole or in part from any cause, except for routine maintenance and repairs and incidental damage and destruction caused or rendered inaccessible or unusable from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇any cause, ▇▇▇▇▇▇▇▇ Landlord may, at in its option:
(a) Rebuild sole discretion and without compensation or restore the Premises liability to their condition prior Tenant, terminate this Lease by delivery of notice of termination to the damage or destruction; or
(b) Terminate this Lease. (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of such event. If, in Landlord's reasonable estimation, the Premises of its election to either rebuild and restore them, or to terminate this Lease, Landlord shall cannot be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in 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 restoration restored within one hundred eighty twenty (180120) days following the date of destruction (such period of time to be extended for delays caused by the fault or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord)destruction, then Landlord shall immediately notify Tenant shall have the right to and Tenant may terminate this Lease by giving fifteen delivery of notice to Landlord within thirty (1530) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, of receipt of 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 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 cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, notice; otherwise this Lease shall remain in full force and effect. If Landlord does not terminate this Lease and if in Landlord's estimation the Premises can be restored within one hundred twenty (120) days, then Landlord shall commence to restore the Premises in compliance with then existing laws and shall complete such restoration with due diligence. In such event this Lease shall remain in full force and effect except that the then current rent shall be abated based on the extent to which the restoration being made by Landlord shall interfere with the business being carried on by Tenant hereby expressly waives in the provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 Premises. If Landlord does not complete its repair and restoration work of the California Civil Code. In Premises within one hundred twenty (120) days after the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 33-1/3% occurrence of the replacement cost thereof. Landlord may elect to terminate this Leasedamage or destruction, whether the Premises be injured or not. Notwithstanding anything to the contrary hereinTenant, Landlord at its option, may terminate this Lease by written notice to Landlord that the Lease will terminate if repairs or restoration are not completed within thirty (30) days after the date of the notice. Landlord will not be required to repair or restore any injury or damage to the property of Tenant or make any repairs or restoration to any alterations, additions, fixtures, or improvements installed in the event Premises by or at the expense of an uninsured event Tenant; however, Landlord and Tenant will reasonably cooperate with each other to make such repairs or if insurance proceeds are insufficient to cover 100% of the rebuilding costs net of the deductiblerestoration.
Appears in 1 contract
Destruction. 18.01 In the event the Premises are destroyed in whole of damage to 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 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 is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the Leased Premises of its election during the lease term which requires repairs to either rebuild and restore them, or to terminate this Leasethe Leased Premises, Landlord shall be deemed to have elected to rebuild or restore themforthwith make repairs, provided, in which event Landlord agreesLandlords judgment, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall repairs can be entitled to a reduction in 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 restoration completed within one hundred eighty (180) days following from the date of such damage or destruction, but such damage or destruction (including any destruction necessary in order to make repairs) shall in no way annul or void this Lease, except that Tenant shall be entitled to a proportionate reduction of base rent while such period of time repairs are being made. The proportionate reduction is to be extended for delays caused based upon the extent to which the making of repairs shall interfere with the business carried on by Tenant in the fault or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to LandlordLeased Premises. Notwithstanding anything herein to the contrary, If repairs cannot in Landlord's obligation to rebuild or restore shall judgment be limited to the building and interior improvements constructed by completed within one hundred eighty (180) days, Landlord as they existed as of the commencement of the Lease and shall not include restoration of Tenant's trade fixturesmay, equipmentat its option, 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 cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisionsmake same within a reasonable time, this Lease shall remain continuing in full force and effect. Tenant hereby expressly waives effect and the provisions of Section 1932base rent to be proportionately abated, Subdivision 2, as in Section 1933, Subdivision 4 of the California Civil Codethis paragraph provided. In the event that Landlord does not so elect to make repairs which cannot in Landlord's judgment be completed within one hundred eighty (180) days, or repairs cannot be made under current laws and regulations, this Lease may be terminated at the building option of either party. Landlord agrees to notify Tenant in which the Premises are situated is damaged or destroyed to the extent of not less than 33-1/3% writing, of the replacement cost thereof. estimated time period for the completion of required repairs and of Landlord's election, if applicable, with regard to making said repairs, within thirty (30) days after 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 100% receives notice of the rebuilding costs net occurrence of the deductibledamaging event, and to promptly commence and diligently prosecute unto completion any repairs required to be made by Landlord hereunder.
Appears in 1 contract
Destruction. If the Leased Premises or any portion thereof are destroyed by storm, fire, lightning, earthquake or other casualty, Tenant shall immediately notify Landlord. In the event the Leased Premises cannot, in Landlord's judgment, be restored within one hundred eighty (180) days of the date of such damage or destruction, this Lease shall terminate as of the date of such destruction, and all rent and other sums payable by Tenant hereunder shall be accounted for as between Landlord and ▇▇▇▇▇▇ as of that date. Landlord shall notify Tenant within thirty (30) days of the date of the damage or destruction whether the Leased Premises can be restored within one hundred eighty (180) days. If this Lease is not terminated as provided in this Paragraph, Landlord shall, to the extent insurance proceeds payable on account of such damage or destruction are available to Landlord (with the excess proceeds belonging to Landlord), within a reasonable time, repair, restore, rebuild, reconstruct or replace the damaged or destroyed portion of the Leased Premises to a condition substantially similar to the condition which existed prior to the damage or destruction. Provided, however, Landlord shall only be required to repair, restore, rebuild, reconstruct and replace the Landlord's Work shown on Exhibit "B", and Tenant shall, at its sole cost and expense, upon completion of the Landlord's Work, repair, restore, rebuild, reconstruct and replace, as required, any and all improvements installed in whole the Leased Premises by Tenant and all trade fixtures, personal property, inventory, signs and other contents in the Leased Premises, and all other repairs not specifically required of Landlord hereunder, in a manner and to at least the condition existing prior to the damage. Tenant's obligation to pay Base Rent shall ▇▇▇▇▇ until Landlord has repaired, restored, rebuilt, reconstructed or replaced the Leased Premises, as required herein, in proportion to the part from of the Leased Premises which are unusable by Tenant. If the damage or destruction is due to the act, neglect, fault or omission of Tenant, there shall be no rent abatement except to the extent of rent loss insurance. In the event of any cause, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇dispute between ▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option:
(a) Rebuild or restore the Premises to their condition prior and Tenant relative to the damage or destruction; or
(b) Terminate provisions of this paragraph, they may each select an arbitrator, the two arbitrators so selected shall select a third arbitrator and the three arbitrators so selected shall hear and determine the controversy and their decision thereon shall be final and binding on both Landlord and Tenant who shall bear the cost of such arbitration equally between them. Landlord shall not be required to repair any property installed in the Leased Premises by Tenant. Tenant waives any right under applicable laws inconsistent with the terms of this paragraph and in the event of a destruction agrees to accept any offer by Landlord to provide Tenant with comparable space within the project in which the Leased Premises are located on the same terms as this Lease. Notwithstanding the provisions of this paragraph, if any such damage or destruction occurs within the final two (providing that 2) years of the Premises is damaged term hereof, then Landlord, in its sole discretion, may, without regard to the extent of 33 1/3% of the replacement cost). 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 themaforesaid 180-day period, or to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice notice, to LandlordTenant. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductible.ASSIGNMENT AND SUBLETTING
Appears in 1 contract
Sources: Lease Agreement (Optio Software Inc)
Destruction. In If during the event Term of this Lease, any portion of the Premises, access to the Premises are destroyed in whole or in any part from any cause, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for of the Building which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option:
(a) Rebuild or restore the Premises to their condition prior essential to the damage or destruction; or
(b) Terminate this Lease. (providing that use of the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing within thirty (30) days from the or destroyed and such damage or 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 themcan, in which event Landlord agreesLandlord’s reasonable estimation, at its expense, promptly to rebuild or restore the Premises to their condition prior to the be repaired within 180 days following such damage or destruction. Tenant shall be entitled to a reduction in 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effecteffect and Landlord shall promptly commence to repair and restore the damage or destruction to substantially the same condition as existed prior to such damage and shall complete such repair and restoration with due diligence compliance with all then existing laws. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2If (1) such damage or destruction cannot, in Section 1933Landlord’s reasonable estimation, Subdivision 4 be repaired within 180 days following such damage or destruction; or (2) more than forty percent (40%) of the California Civil CodeBuilding is damaged or destroyed (regardless of its impact on the Premises); or (3) any mortgages of the Building will not allow the application of insurance proceeds for repair and restoration; or (4) the damage or destruction is not covered in full by Landlord’s insurance required by Paragraph 18, or (5) the damage or destruction occurs within the last twelve (12) months of the Term of this Lease or any extension hereof, then Landlord may, in its sole discretion, terminate this Lease by delivery of notice to Tenant within 30 days of the date Landlord _______ of the damage. In the event that of repair, reconstruction and restoration by Landlord as herein provided, the building in rent payable under this Lease shall be abated proportionately with the degree to which ▇▇▇▇▇▇’s use of the Premises are situated is damaged impaired during the period of such repair, reconstruction or destroyed restoration; provided that there shall be no abatement of rent if such damage is the result of Tenant’s negligence or intentional wrongdoing. Tenant shall not be entitled to any compensation or damages for loss in the use of the whole or any part of the Premises, damage to Tenant’s Personal Property and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration, provided, however, that Landlord shall, use reasonable efforts not to interfere with ▇▇▇▇▇▇’s use of the premises during normal business hours consistent with any construction effort. If Landlord is obligated to or elects to repair or restore as herein provided, Landlord shall be obligated to make repair or restoration only to those portions of the Building and the Premises which were originally provided at Landlord’s expense, and the repair and restoration of items not provided at Landlord’s expense shall be the obligation of Tenant. ▇▇▇▇▇▇ agrees to coordinate the restoration and repair of those items it is required to restore or repair with Landlord’s repair and restoration work and in coordination with a work schedule prepared by Landlord, or Landlord’s contractor. Further, ▇▇▇▇▇▇’s work shall be performed in accordance with the terms, standards and conditions contained in Paragraph 16 above. The provisions of California Civil Code Section 1932, Subsection 2, and Section 1933, Subsection 4, and any other similarly enacted statute or court decision relating to the extent abatement or termination of not less than 33-1/3% a lease upon destruction of the replacement cost thereof. Landlord may elect to terminate this Leaseleased premises, whether are hereby waived by ▇▇▇▇▇▇; and 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 100% provisions of the rebuilding costs net Paragraph 19 shall govern in case of the deductiblesuch destruction.
Appears in 1 contract
Destruction. In If the event Leased Premises shall be partially damaged by any casualty insured against under any insurance policy maintained by Landlord, Landlord shall, upon receipt of the insurance proceeds, repair the Leased Premises and until repair is complete the Basic Annual Rent and Additional Rent shall be abated proportionately as to that portion of the Leased Premises rendered untenantable. Notwithstanding the foregoing, if: (a) the Leased Premises by reason of such occurrence are destroyed rendered wholly untenantable, or (b) the Leased Premises should be damaged as a result of a risk which is not covered by insurance, or (c) the Leased Premises should be damaged in whole or in part from during the last six (6) months of the term or of any causerenewal hereof, 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:
or (ad) Rebuild the Leased Premises or restore the Building (whether the Leased Premises to their condition prior to the damage are damaged or destruction; or
(bnot) Terminate this Lease. (providing that the Premises is should be damaged to the extent of 33 1/3% fifty percent (50%) or more of the replacement cost). If then-monetary value thereof, then and in any such events, Landlord does not give Tenant may either elect to repair the damage or may cancel this Lease by notice in writing of cancellation within thirty sixty (3060) days from after such event and thereupon this Lease shall expire, and Tenant shall vacate and surrender the destruction Leased Premises to Landlord. Tenant's liability for rent upon the termination of this Lease shall cease as of the day following Landlord's giving notice of cancellation. In the event Landlord elects to repair any damage, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the Leased Premises of its election have been repaired. In the event Landlord elects to either rebuild and restore them, or to terminate this Leaserepair any damage, Landlord shall be deemed give notice to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, 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 while such repair is being made in the proportion that the area within sixty (60) days of the Premises rendered untenantable by occurrence and such damage bears to notice shall include a schedule for the total area completion of the Premises. If Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 cancelled according to the provisions aboverepairs. Unless this Lease is terminated pursuant by Landlord, Tenant shall repair and refixture the interior of the Leased Premises in a manner and in at least a condition equal to that existing prior to the foregoing provisions, this Lease destruction or casualty and the proceeds of all insurance carried by Tenant on its property and fixtures shall remain be held in full force trust by Tenant for the purpose of said repair and effectreplacement. Tenant hereby expressly waives During the provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 repair of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 hereinLeased Premises, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient shall grant Tenant access to cover 100% of the rebuilding costs net of the deductiblerefixture and install furniture as needed.
Appears in 1 contract
Sources: Lease Agreement (Tenfold Corp /Ut)
Destruction. In If the event Leased Premises should be damaged or destroyed by fire or other cause to such extent that the cost of repair and restoration would exceed 30 percent of the amount it would cost to replace the Leased 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 for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, the entirety at its option:
(a) Rebuild or restore the Premises to their condition prior to the time such damage or destruction; or
(b) Terminate destruction took place, then Landlord and Tenant shall each have the right to cancel this Lease. (providing that Lease by giving the Premises is damaged to the extent other party notice of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing such election within thirty (30) days from after the destruction occurrence of such damage or destruction, and this Lease shall terminate as of fifteen (15) days after the Premises of its election date such notice is given. If either party fails to either rebuild and restore themexercise this option to terminate, or to terminate this Lease, then Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agreesshall, at its expense, promptly to rebuild or repair and restore the Leased Premises to their substantially the same condition they were in prior to the damage or destruction. Tenant shall If the Leased Premises should be entitled damaged or destroyed by fire or other cause to a reduction in rent while such repair is being made in the proportion an extent that the area costs of repair and restoration would be less than 30 percent of the amount it would cost to replace the Leased Premises rendered untenantable by in their entirety at the time such damage bears or destruction took place, then this Lease shall not terminate and the Landlord shall, at its expense, promptly repair and restore the Leased Premises to substantially the same condition they were in prior to the total area of the Premises. If Landlord initially estimates that the rebuilding damage or restoration will exceed 180 days or if Landlord does not complete the rebuilding 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlorddestruction. Notwithstanding anything herein to the contrary, if the Leased Premises is unusable by Tenant for longer than 30 days, Tenant may terminate this Lease. In the event the Leased Premises are damaged or destroyed, the rents herein or a fair and equitable portion thereof, shall be abated until such time as the Leased Premises are repaired and restored. The term of this Lease shall be extended for a period equal to the period during which there has been a complete abatement of rent. The opinion of an architect or registered engineer appointed by Landlord as to the costs of repair, restoration or replacement shall be controlling upon the parties. Landlord's obligation to rebuild restore or restore shall be limited to the building and interior improvements constructed by Landlord as they existed as of the commencement of the Lease and shall repair does not include restoration of fixtures or improvements installed or owned by 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 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 The provisions of this Section 1932are not intended to limit, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged modify or destroyed to the extent of not less than 33-1/3% of the replacement cost thereof. Landlord release Tenant from any liability it may elect to terminate this Lease, whether the Premises be injured have for damage 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 100% of the rebuilding costs net of the deductibledestruction.
Appears in 1 contract
Destruction. In (a) If the event the Demised Premises are damaged by fire or other casualty, the same shall be repaired or rebuilt as speedily as practical under the circumstances at the expense of the Landlord (subject to subparagraph [c] below), unless this Lease is terminated as provided in this Article 22, and during the period of Landlord’s restoration hereunder, a just and proportionate part of Base Rental and Tenant’s Additional Rental shall be abated until the Demised Premises are repaired or rebuilt to the extent same are required to be repaired or rebuilt by Landlord hereunder (provided that an abatement of Tenant’s Additional Rental shall be allowed during such period only if and to the extent Landlord is compensated for loss of Tenant’s Additional Rental during such period from proceeds of rent loss insurance) Tenant shall also be entitled to a just and proportionate abatement of Base Rental and Tenant’s Additional Rental for up to an additional ninety (90) days following the date the Demised Premises are repaired or rebuilt by Landlord if Tenant is unable to occupy applicable portions of the Demised Premises for business purposes due to restoration by Tenant of leasehold improvements and Tenant’s Equipment, but only if and to the extent Landlord is compensated for loss of Base Rental and Tenant’s Additional Rental during such period from proceeds of rent loss insurance.
(b) If the Demised Premises are (i) damaged to such an extent that repairs cannot, in the determination of Landlord’s architect or engineer, be completed within one (1) year after the date of the casualty or (ii) damaged or destroyed as a result of a risk which is not insured under standard special form/all-risk insurance policies and the cost which would be incurred by Landlord for the repair or restoration of the Demised Premises and all other portions of the Project so damaged shall exceed $5,000,000 or (iii) damaged or destroyed during the last eighteen (18) months of the Lease Term, or if the Building is damaged in whole or in part from (whether or not the Demised Premises are damaged), to such an extent that the Building cannot, in Landlord’s judgment, be operated economically as an integral- unit, then and in any cause, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, such event Landlord may at its option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction; or
(b) Terminate option terminate this Lease. (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant Lease by notice in writing to the Tenant within sixty (60) days after the date of such occurrence. If the Landlord terminates this Lease as a result of damage or destruction of the Demised Premises during the last eighteen (18) months of the Lease Term, and if Tenant has any unexercised’ option to extend the Lease Term, then Tenant may nullify Landlord’s termination of this Lease by exercising Tenant’s right to extend the Lease Term, pursuant to Article 55 hereof, for the Extended Term within thirty (30) days from after receipt of Landlord’s notice of termination. If the destruction Demised Premises are damaged to such an extent that repairs cannot, in the determination of Landlord’s architect or engineer, be completed within one (1) year after the date of the Premises of its election to either rebuild and restore themcasualty, or then Tenant may elect to terminate this Lease, Landlord shall be deemed Lease by notice in writing to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore -Landlord within fifteen (15) days after the Premises to their condition prior to the damage or destruction. date Tenant shall be entitled to a reduction in rent while such repair is being made in the proportion that the area receives notice of the determination by: Landlord’s architect or engineer-of-the time required-for a completion of repairs: If the Demised Premises rendered untenantable by such damage bears to are substantially damaged during the total area last eighteen (18) months of the Premises. If Lease Term, then Tenant may elect to terminate this Lease by notice in writing to Landlord initially estimates that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding restoration within one hundred eighty fifteen (18015) days following after the date of destruction such occurrence. In addition to the termination right granted to Tenant under the preceding two sentences, if the Demised Premises are damaged or destroyed by fire or other casualty and if the Demised Premises are not materially restored by Landlord to the extent required of Landlord hereunder on or before the date which is eighteen (such period of time to be extended for delays caused by 18) months after the fault or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay date of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord)casualty, then Tenant shall have the right to terminate this Lease by giving fifteen written notice thereof to Landlord on or before the earlier to occur of (15y) the date which is nineteen (19) months after the date of casualty, or (z) the date that Landlord has substantially completed the restoration of the Demised Premises; provided, however, that if construction or reconstruction is delayed because of changes, deletions or additions in construction requested by Tenant, or because of delays caused by force majeure, the aforesaid eighteen (18) month period referred to above shall be extended for the amount of time Landlord is so delayed, but unless a delay is caused by Tenant, its members, partners, agents, contractors or employees, the extension under this proviso shall not exceed an additional sixty (60) days. Unless Landlord or Tenant elects to terminate this Lease as hereinabove provided, this Lease will remain in full force and effect and Landlord shall repair such damage at its expense to the extent required in this Article as expeditiously as possible under the circumstances- The determinations by Landlord’s architect or engineer of the time required for completion of repairs as contemplated in this Article 22(b) shall be made by a reputable, licensed architect or engineer selected by Landlord and shall be rendered no later than sixty (60) days prior written notice after the date of the casualty.
(c) If Landlord should elect or be obligated pursuant to Landlord. Notwithstanding anything herein subparagraph (a) above to the contraryrepair or rebuild because of any damage or destruction, Landlord's ’s obligation to rebuild or restore shall be limited to the building original Building and interior the leasehold improvements constructed by Landlord as they existed as in the Demised Premises (to the extent such leasehold improvements can be restored for the amount of the commencement of the Lease Construction Allowance applicable thereto) and shall not include restoration of extend to Tenant's trade fixtures’s Equipment or to any furniture, equipment, merchandisesupplies or other personal property owned or leased by Tenant, its employees, contractors, invitees or licensees. If the cost of performing such repairs and restoration exceeds the actual proceeds of insurance paid or payable to Landlord on account of such casualty by more than $5,000,000, or if Landlord’s mortgagee or the lessor under a ground or underlying lease shall require that any Improvements, alterations insurance proceeds from a casualty loss be paid to it and the cost of such restoration exceeds the actual proceeds of insurance received by Landlord and not paid to such mortgagee or additions made lessor by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease is not cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less more than 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$5,000,000, Landlord may terminate this Lease in unless Tenant, within fifteen (15) days after demand therefor, deposits with Landlord a sum of money sufficient to pay the event difference between the cost of an uninsured event or if insurance repair and the proceeds are insufficient to cover 100% of the rebuilding costs net insurance available to Landlord for such purpose.
(d) In no event shall Landlord be liable for any loss or damage sustained by Tenant by reason of the deductiblecasualties mentioned hereinabove or any other accidental casualty.
Appears in 1 contract
Destruction. In 18.1. If the event Demised Premise, or any portion of the Premises are Building shall be damaged or destroyed by fire or other casualty Landlord shall, except as otherwise provided herein, repair and restore the same to substantially the same condition thereof existing immediately prior to such damage or destruction, or to the condition thereof existing as of the Commencement Date, in Landlord’s discretion. If by reason of such occurrence:
18.1.1. The Building is damaged in whole or in part from any causeas a result of a risk which is not covered by Landlord’s insurance policies, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant or is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option:
(a) Rebuild damaged to such an extent that rebuilding or restore restoring the Premises to their condition prior to the damage or destruction; Building is not feasible in Landlord’s discretion: or
(b) Terminate this Lease18.1.2. (providing that The Demised Premises is damaged in whole or in part during the last year of the Term: or
18.1.3. The Building containing the Demised Premises is damaged to such an extent that the extent Building cannot in the sole but reasonable judgment of 33 1/3% of Landlord be operated as an integral unit: Then or in any such events, Landlord may elect either to repair the replacement cost). 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 themdamage as aforesaid, or to terminate this LeaseLease by written notice of termination to Tenant, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in 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 restoration within one hundred eighty twenty (180120) days following after the date of destruction (such period occurrence, and thereupon this Lease shall cease and terminate with the same force and effect as though the date of time to be extended Landlord’s notice was the date herein fixed for delays caused by the fault or neglect termination of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then this Lease and Tenant shall have vacate and surrender the right to terminate this Lease by giving fifteen (15) days prior written notice Demised Premises to Landlord. Notwithstanding anything herein to Upon the contrary, Landlord's obligation to rebuild or restore termination of this Lease as aforesaid. Tenant’s liability for all Tenant Payments reserved hereunder shall be limited to the building and interior improvements constructed by Landlord as they existed cease as of the commencement effective date of the Lease and shall not include restoration termination of Tenant's trade fixturesthis Lease, equipmentsubject, merchandisehowever, 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 cancelled according to the provisions abovefor the prior abatement hereinafter set forth. Unless this Lease is terminated pursuant to the foregoing provisionsby Landlord as aforesaid, this Lease shall remain in full force and effect.
18.2. If by reason of fire or other casualty the Demised Premises is rendered wholly untenantable, the Tenant hereby expressly waives the provisions of Section 1932Payments shall be fully abated from and after such casualty, Subdivision 2, in Section 1933, Subdivision 4 or if only partially damaged shall be abated proportionately as to that portion of the California Civil Code. In the event that the building in which the Demised Premises are situated is damaged or destroyed to the extent of not less than 33-1/3% of the replacement cost thereof. rendered untenantable (unless Landlord may shall elect to terminate this Lease, whether as aforesaid), until 30 days after written notice by Landlord to Tenant that the Demised Premises have been substantially repaired and restored or until Tenant’s business operations are restored in the Demised Premises, whichever shall first occur. Except for such abatement of the Tenant Payments, as hereinabove set forth, nothing herein contained shall be injured construed to a▇▇▇▇ any other obligations of Tenant hereunder. If such damage or notother casualty shall be caused by the negligence of Tenant or of Tenant’s subtenants, licensees, contractors or invitees or to their respective agent or employees, there shall be no abatement of Tenant Payments. Except for the abatement of the Tenant Payments hereinabove set forth. Tenant shall not be entitled to and hereby waives all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Demised Premises and/or for any inconvenience or annoyance occasioned by such damage, destruction, repair or restoration.
18.3. Notwithstanding anything contained herein to the contrary hereincontrary, Landlord may terminate this Lease in the event of an uninsured event any damage or if insurance proceeds are insufficient destruction only to cover 100% the Demised Premises, or any part thereof, Tenant shall be liable for the amount of the rebuilding costs net of the deductibleany deductible otherwise required to be paid by Landlord.
Appears in 1 contract
Sources: Office/Distribution Building Lease (Home Diagnostics Inc)
Destruction. If the Leased Premises or any portion thereof are destroyed by storm, fire, lightning, earthquake or other casualty, Tenant shall immediately notify Landlord. In the event the Leased Premises cannot, in Landlord's judgment, be restored within one hundred twenty (120) days of the date of such damage or destruction, this Lease shall terminate as of the date of such destruction, and all rent and other sums payable by Tenant hereunder shall be accounted for as between Landlord and ▇▇▇▇▇▇ as of that date. Landlord shall notify Tenant within thirty (30) days of the date of the damage or destruction whether the Leased Premises can be restored within one hundred twenty (120) days. If this Lease is not terminated as provided in this paragraph, Landlord shall, to the extent insurance proceeds payable on account of such damage or destruction are available to Landlord (with the excess proceeds belonging to Landlord), within a reasonable time, repair, restore, rebuild, reconstruct or replace the damaged or destroyed portion of the Leased Premises to a condition substantially similar to the condition which existed prior to the damage or destruction. Provided, however, Landlord shall only be required to repair, restore, rebuild, reconstruct and replace the Landlord's Work shown on Exhibit "B", and Tenant shall, at its sole cost and expense, upon completion of the Landlord's Work, repair, restore, rebuild, reconstruct and replace, as required, any and all improvements installed in whole the Leased Premises by Tenant and all trade fixtures, personal property, inventory, signs and other contents in the Leased Premises, and all other repairs not specifically required of Landlord hereunder, in a manner and to at least the condition existing prior to the damage. Tenant's obligation to pay Base Rent shall ▇▇▇▇▇ until Landlord has repaired, restored, rebuilt, reconstructed or replaced the Leased Premises, as required herein, in proportion to the part from of the Leased Premises which are unusable by Tenant. If the damage or destruction is due to the act, neglect, fault or omission of Tenant, there shall be no rent abatement except to the extent of rent loss insurance. In the event of any cause, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇dispute between ▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option:
(a) Rebuild or restore the Premises to their condition prior and Tenant relative to the damage or destruction; or
(b) Terminate provisions of this paragraph, they may each select an arbitrator, the two arbitrators so selected shall select a third arbitrator and the three arbitrators so selected shall hear and determine the controversy and their decision thereon shall be final and binding on both Landlord and Tenant who shall bear the cost of such arbitration equally between them. Landlord shall not be required to repair any property installed in the Leased Premises by Tenant. Tenant waives any right under applicable laws inconsistent with the terms of this paragraph and in the event of a destruction agrees to accept any offer by Landlord to provide Tenant with comparable space within the project in which the Leased Premises are located on the same terms as this Lease. Notwithstanding the provisions of this paragraph, if any such damage or destruction occurs within the final two (providing that 2) years of the Premises is damaged term hereof, then Landlord, in its sole discretion, may, without regard to the extent of 33 1/3% of the replacement cost). 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 themaforesaid 120 day period, or to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductible.
Appears in 1 contract
Sources: Lease Agreement (Innotrac Corp)
Destruction. In the event the Premises are destroyed in whole or in part from Tenant immediately shall give written notice to Landlord of any cause, 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 Premises, the Building, or destruction; or
(b) Terminate this Lease. (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost)Land. If Landlord does not give Tenant notice the Premises, the Building, or the Land are totally destroyed by an insured peril, or so damaged by an insured peril that, in Landlord’s reasonable estimation (to be given in writing within thirty (30) days from after the destruction of the Premises of its election to either rebuild and restore themoccurrence), or to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in 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 repairs cannot complete the rebuilding restoration be substantially completed (exclusive of leasehold improvements Tenant makes) within one hundred eighty (180) days following after the date of destruction (such period of time to be extended for delays caused by the fault or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay Landlord’s actual knowledge of the contractors or subcontractors due damage, and Landlord does not elect to such causes or other contingencies beyond the control of landlord)relocate Tenant as described below, then Tenant shall have the right to either party may terminate this Lease by giving delivering to the other written notice of termination within fifteen (15) days prior written notice after the Landlord issues its estimate. Notwithstanding, Landlord may undertake, at its expense, to Landlord. Notwithstanding anything herein relocate Tenant 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 of the Lease and shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any Improvements, alterations or additions made by Tenant office space reasonably comparable to the Premises, which provided that Landlord notifies Tenant shall forthwith replace or fully repair at Tenant's sole cost of its intention to do so in a written notice delivered to Tenant within thirty (30) days after the damage, and expense provided this Lease is not cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, in such instance this Lease shall remain continue in full force and effect. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 Such relocation may be for a portion of the California Civil Coderemaining Term or the entire Term. In the event that the building in which Landlord shall complete any such relocation within ninety (90) days after Landlord has delivered such written notice to Tenant. If Landlord does not elect to relocate Tenant following such damage to the Premises are situated is damaged or destroyed to the extent of not less than 33-1/3% of the replacement cost thereof. Landlord may elect to terminate this LeaseBuilding, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord then Tenant may terminate this Lease by delivering to Landlord written notice of termination within fifteen (15) days following the date on which Landlord notifies Tenant in the event of an uninsured event or if insurance proceeds are insufficient to cover 100% writing of the rebuilding costs net estimated time for the restoration. In either event, the Rent shall be abated during the unexpired portion of this Lease, effective upon the date the damage occurred. Time is of the deductibleessence with respect to the delivery of all notices of damage and termination.
Appears in 1 contract
Destruction. In the event 13.1 If the Premises or the Building is destroyed by fire, earthquake, or other casualty to the extent that they are destroyed untenantable in whole or in part and can be rebuilt and restored within 180 days from any causethe date of destruction, except for routine maintenance then Landlord shall have the right but not the obligation to proceed with reasonable diligence to rebuild and restore the Premises or the Building or such part thereof. In the event of partial destruction of the Building and/or the Premises, to an extent not exceeding 25% of the full insurable value 13 thereof, and if the damage thereto is such that the Building and/or the Premises may be repaired, reconstructed or restored within a period of 90 days from the date of such casualty, and if Landlord will receive insurance proceeds sufficient to cover the cost of such repairs and incidental damage if Landlord's lender has not required the application of insurance proceeds to any indebtedness, the repayment of which is secured by the Property, then Landlord shall commence and proceed diligently with the work of repair, reconstruction and restoration and this Lease shall continue in full force and effect.
13.2 Landlord shall within 30 days after such destruction caused from vandalism or injury notify Tenant whether Landlord intends to rebuild. If Landlord notifies Tenant that Landlord does not intend to rebuild, this Lease shall terminate upon the date of damage. If repair, reconstruction or restoration of the Premises cannot be completed within 180 days after the date of the damage, or if such work is commenced and accidents is not, for which any reason whatsoever, completed within 270 days, then 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 is damaged to the extent of 33 1/3% of the replacement cost). 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, 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 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord within 20 days after Landlord's obligation notice of its intent to rebuild or restore 20 days after expiration of the 270 day period, as the case may be.
13.3 During the period from destruction or damage until restoration (or termination of this Lease), Rent shall be limited abated in the same ratio as that portion of the Premises which is unfit for occupancy shall bear to the building and interior improvements constructed by whole Premises.
13.4 Landlord as they existed as of the commencement of the Lease and shall not include restoration be required to repair any injury or damage by fire or other cause to, or to make any repairs or replacements of Tenant's trade any panels, decoration, office fixtures, equipmentpaintings, merchandisefloor covering, or any Improvementsother improvements to the Premises installed by Tenant. Instead, alterations if Landlord repairs or additions made by rebuilds the Premises under this Section 13, Tenant shall repair or rebuild such Tenant-installed improvements and other items of property
13.5 Tenant shall not be entitled to any compensation or damages from Landlord for loss of the use of the whole or any part of the Premises, which Tenant shall forthwith replace the property of Tenant, or fully repair at Tenant's sole cost and expense provided this Lease is not cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisionsany inconvenience or annoyance occasioned by such damage, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provisions of Section 1932repair, Subdivision 2reconstruction, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductiblerestoration.
Appears in 1 contract
Sources: Lease Agreement (Amazon Com Inc)
Destruction. In Provided, and it is hereby expressly agreed, that if and whenever during the event Term the Premises are shall be destroyed or damaged by fire, lightning, tempest or by any of the perils insured against, then and 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 for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its optionevery such event:
(a) Rebuild or restore the Premises to their condition prior to if the damage or destruction is such that the Premises are rendered wholly unfit for occupancy or it is impossible or unsafe to use and occupy them and if in either event the damage, in the reasonable opinion of the architect/engineer of the Landlord, acting independently, to be given to the Tenant within 30 days of the happening of such damage or destruction, cannot be repaired with reasonable diligence within 180 days from the date such architect/engineer has given its opinion, then the Landlord or the Tenant may within 5 days next succeeding the giving of the opinion as aforesaid terminate this Lease by giving to the other notice in writing of such termination, in which event this Lease and the Term shall cease and be at an end as of the date of such destruction or damage and the rent and all other payments for which the Tenant is liable under the terms of this Lease shall be apportioned and paid in full to the date of such destruction or damage; orin the event that either the Landlord or the Tenant does not so terminate this Lease, then, to the extent that insurance proceeds are available, the Landlord shall repair the Premises with all reasonable speed and the Base Rent hereby reserved shall abate from the date of the happenin▇ ▇▇ the damage until the damage shall be made good to the extent of enabling the Tenant to use and occupy the Premises;
(b) Terminate this Lease. (providing if the damage be such that the Premises are wholly unfit for occupancy or if it is damaged impossible or unsafe to use or occupy them, but if in either event the damage, in the reasonable opinion of the architect/engineer of the Landlord, acting independently, to be given to the Tenant within 30 days from the happening of such damage, can be repaired with reasonable diligence within 180 days from the date such architect/engineer has given its opinion, then the Base Rent hereby reserved shall abate from the date of the happening ▇▇ such damage until the damage shall be made good to the extent of 33 1/3% enabling the Tenant to use and occupy the Premises and the Landlord shall repair the damage with all reasonable speed, to the extent that insurance proceeds are available; if in the reasonable opinion of the replacement cost). If Landlord does not give Tenant notice in writing the damage can be made good as aforesaid within thirty (30) 180 days from the destruction date the architect/engineer of the Premises of Landlord, acting independently, has given its election to either rebuild opinion 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, promptly to rebuild or restore the damage is such that the Premises to their condition prior to are capable of being partially used for the purposes for which they are hereby demised, then until such damage or destruction. Tenant has been repaired the Base Rent shall be entitled to a reduction in rent while such repair is being made abate in the proportion that the area part of the Premises which is rendered untenantable by such damage unfit for occupancy bears to the total area whole of the Premises. If , and the Landlord initially estimates that shall repair the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding 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 because of Acts of Goddamage with all reasonable speed, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 that insurance proceeds are insufficient to cover 100% of the rebuilding costs net of the deductibleavailable.
Appears in 1 contract
Sources: Lease Agreement (Orthologic Corp)
Destruction. In the event If the Premises are destroyed in whole rendered partially or in part totally untenantable by fire or other casualty, and if the damage is repairable within sixty (60) days from the date of the occurrence, then if insurance proceeds are available to pay the full cost of the repairs (less any cause, 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:
(adeductible) Rebuild or restore Landlord shall repair the Premises with due diligence so long as at least the then-unexpired term of this Lease is at least one hundred eighty (180) days; otherwise Landlord may elect to their condition prior terminate this Lease by written notice to Tenant. During the repair or construction of the Premises, the base rent shall be abated in the proportion that the untenantable portion of the Premises bears to the damage whole thereof, as determined by Landlord, for the period from the date of the casualty to the completion of the repairs, unless the casualty results from the negligence of Tenant or destruction; or
(b) Terminate its officers, contractors, agents, invitees, guests or employees or Tenant’s breach of the terms of this Lease. (providing that If the Building is destroyed or materially damaged, then regardless of whether the Premises is damaged are damaged, Landlord may terminate this Lease by written notice to the extent Tenant. Landlord shall advise Tenant of 33 1/3% of the replacement cost). If Landlord does not give Landlord’s election to repair or terminate by giving notice to Tenant notice in writing thereof within thirty (30) days from after the destruction occurrence of the Premises casualty. In the event of its election to either rebuild and restore themdamage by casualty, or to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agreesTenant shall, at its sole cost and expense, promptly repair all damage to rebuild or restore the Premises its own personal property and to their condition prior all improvements which Tenant has made to the damage Premises. Landlord shall not be liable to Tenant for damages, compensation or destruction. Tenant shall be entitled other sums for inconvenience, loss of business or disruption arising from any repairs to a reduction in rent while such repair is being made in the proportion that the area or restoration of any portion of the Premises rendered untenantable by such damage bears to the total area of the Building or Premises. If Landlord initially estimates that elects to repair such damage to the rebuilding Premises or restoration will exceed 180 days or if Landlord does not complete the rebuilding restoration within one hundred eighty (180) days following the date of destruction (Building, such period of time repair shall be commenced and completed as soon as reasonably possible, subject to be extended for delays caused by the fault or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies resulting from circumstances beyond the reasonable control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductible.
Appears in 1 contract
Sources: Lease Agreement (iVOW, Inc.)
Destruction. In the event the Premises are destroyed in whole or in part pan from any cause, 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 is damaged to the extent of 33 1/3% of the replacement cost). 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, 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 while such repair is being made in the proportion propotion that the area of the Premises rendered untenantable by such damage bears to the total area of at 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 embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), Landlord then Tenant shall have the right to terminate this Lease by giving f fifteen (15( 15 ) days prior written notice to Landlord. Notwithstanding anything herein here in 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 Improvementsimprovements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease is not cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductible.
Appears in 1 contract
Destruction. In Lessor covenanta and agreea that in case of OF PREMISES damage to or destruction of any of the event improvementa on the Leased Premisea by fire or other casualty or occurrence, (without the fault of Lessee, its employees, customers, agents, visitors or licenaees), Lesaor will, at its own cost and expense, make such repairs, restoration, replacement or rebuilding, of the same to the extent that (i) upon completion of such repairs, reatorations, replacements or rebuilding, the value of the improvements upon the Leased Premises shall not be less than the value of the improvements on the Leased Premises immediately prior to the happening of such casualty or occurrence; and (ii) such improvements shall be suitable for conduct of the same type of business as was conducted on said Leased Premises immediately prior to such damage or destruction. However, if said improvements are damaged or destroyed in whole or in part from any causeexcess of fifty percent (50%) of their then insured value, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ the Lessor may, at its option:
(a) Rebuild or restore the Premises election terminate this Lease by giving to their condition prior to the damage or destruction; or
(b) Terminate this Lease. (providing that the Premises is damaged to the extent Lessee written notice of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction of the Premises of its Lessor's 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, 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 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 restoration do so within one hundred eighty sixty (18060) days following the date of destruction (such the occurrence causing said damage or destruction. During the period of time to any such reconstruction, the monthly rental payments shall be extended for delays caused abated by the fault or neglect percentage of Tenant because of Acts of Godcasualty. Provided, acts of public agenciesfurthermore, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability that if Lessee's rent is reduced to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay less than 50% of the contractors or subcontractors due monthly payment in effect prior to such causes or other contingencies beyond said casualty; and if Lessor shall elect to rebuild as provided above; and if said rebuilding shall be done in a reasonable time period; then, at Lessor's option, those months in which Lessee pays less than 50% of the control normal rent shall not be counted against the term of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to and 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 termination date of the commencement 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed be extended equal to the extent number of not months when rent was less than 33-1/350% of the replacement cost thereofnormal rent. 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 100% of the rebuilding costs net of the deductible.CONDEMNATION 11.1
Appears in 1 contract
Destruction. In If the event premises shall be partially damaged by fire or other casualty, the Premises are destroyed in whole damage shall be repaired at the expense of Landlord, but without prejudice to the rights of subrogation, if any, of Landlord's insurer. Landlord shall not be required to repair or in part from restore any cause, except of Tenant's property or any alteration or leasehold improvement made by or for routine maintenance and repairs and incidental Tenant at Tenant's expense. Tenant shall give Landlord prompt notice of any damage and or destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇to the premises. The rent shall ▇▇▇▇▇ ▇▇in proportion to the portion of the premises not usable by Tenant. Landlord shall not be liable to Tenant for any delay in restoring the premises, ▇▇▇▇▇▇▇▇ mayTenant's sole remedy being the right to an abatement of rent, at its option:
as above provided. If (ai) Rebuild the premises are rendered wholly untenantable by fire or other casualty and if Landlord shall decide not to restore the Premises to their condition prior to premises, (ii) the damage premises are rendered wholly untenantable by fire or destruction; or
other casualty during the last twenty-four (b24) Terminate this Lease. (providing that the Premises is damaged to the extent of 33 1/3% months of the replacement costterm hereof, or (iii) if the building shall be so damaged that Landlord shall decide to demolish it or to rebuild it (whether or not the premises have been damaged). If , Landlord does not give Tenant notice in writing may within thirty ninety (3090) days from the destruction of the Premises after such fire or other cause give written notice to Tenant 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, 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 while such repair is being made in the proportion that the area term 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 restoration within one hundred eighty this lease shall automatically expire no less than ten (18010) days following the date of destruction (after such period of time to be extended for delays caused by the fault or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effectgiven. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 227 of the California Civil Code. In the event Real Property Law and agrees that the building foregoing provisions of this Article shall govern and control in which the Premises are situated is damaged or destroyed to the extent of not less than 33-1/3% of the replacement cost lieu 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 100% of the rebuilding costs net of the deductible.
Appears in 1 contract
Sources: Lease Agreement (Arotech Corp)
Destruction. A. In the event the Premises or the Complex are destroyed in whole damaged by any casualty which is covered under insurance carried by Tenant or in part from any causeLandlord, except for routine maintenance and repairs and incidental then Landlord or Tenant, whichever receives such insurance proceeds, shall restore such 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 is damaged to the extent of 33 1/3% of the replacement cost). 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, 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 while such repair is being made in the proportion that the area of the Premises rendered untenantable by insurance proceeds are available provided 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 restoration can be completed within one hundred eighty (180) days following after the date commencement of destruction (the work. In such period event, this Lease shall continue in full force and effect except that Tenant shall be entitled to proportionate reduction of time Rent while such restoration takes place, such proportionate reduction to be extended for delays caused based upon the extent to which the restoration efforts interfere with the Tenant's business in the Premises. If such repair and restoration is not completed by the fault or neglect end of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord)said one hundred eighty (180) day period, then Tenant shall have the right to terminate this Lease by giving written notice to Landlord given within fifteen (15) days prior written after the end of such one hundred eighty (180) day period. If Tenant fails to give notice to Landlord. Notwithstanding anything herein to of termination within the contrarytime provided, 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 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 cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, then this Lease shall remain continue in full force and effect. Landlord shall, at all times during the Term of this Lease, procure and continue in force insurance coverage to cover an amount equal to at least one hundred percent (100%) replacement value of the building. Notwithstanding the foregoing, if any such damage or destruction occurs during the last twelve (12) months of the Term of this Lease, and Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2, has not exercised its option to renew as provided in Section 193339 hereof, Subdivision 4 Landlord shall not be obligated to repair such damage.
B. If the Premises, the Building, Complex or common areas are damaged by risks not covered by such insurance or the insurance proceeds available to Landlord are less than ninety percent (90%) of the California Civil Codecost of restoration, or if the restoration cannot be completed within six (6) months after the commencement of work in the opinion of the architect or engineer appointed by Landlord, then Landlord shall have the option to (i) repair or restore such damage, this Lease continuing in full force and effect, or (ii) give notice to Tenant at any time within ninety (90) days after the date of such damage terminating this Lease as of the date to be specified in such notice, which date shall not be less than thirty (30) and no more than sixty (60) days after giving of such notice. In Notwithstanding the event that foregoing, if any such uninsured damage or destruction occurs during the building last twelve (12) months of the Term of this Lease, and Tenant has not previously exercised its option to renew as provided in which Section 39 hereof, Landlord shall not be obligated to repair such damage.
C. Notwithstanding the foregoing, if the Premises are situated is damaged or destroyed to the extent of not less ("Destroyed" shall mean more than 33-1/3% fifty percent (50%) of the replacement cost thereof. Landlord may elect to terminate this LeasePremises), whether the Premises be injured in whole or not. Notwithstanding anything to the contrary hereinin part, from any cause, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover 100% of the rebuilding costs net of the deductible.shall, at its option, either:
Appears in 1 contract
Sources: Office Lease (Niku Corp)
Destruction. In 25.1. If the event Premises or any other portion of the Shopping Center shall be partially damaged by fire or other casualty insured under Landlord’s insurance policies, then, upon Landlord’s receipt of the insurance proceeds, Landlord shall, except as otherwise provided herein, repair and restore the same (exclusive of Tenant’s trade fixtures, decorations, signs and contents) substantially to the condition immediately prior to such damage or destruction, such repair or restoration shall be limited, however, to the extent of the insurance proceeds received by Landlord. If by reason of such occurrence: (a) the Premises are destroyed rendered wholly untenantable; (b) the Premises are damaged in whole or in part from as a result of a risk which is not covered by Landlord’s insurance policies; (c) the Premises are damaged in whole or in part at any causetime during the term or of any renewal term hereof; (d) the Building or all of the buildings which then comprise the Shopping Center is or are damaged (whether or not the Premises are damaged) to an extent of fifty percent (50%) or more of the then replacement value thereof; or (e) any or all of said buildings or the Common Areas of the Shopping Center are damaged (whether or not the Premises are damaged) to such an extent that the Shopping Center cannot, except in the sole judgment of Landlord, be operated as an integral unit, then, or in any of such events, Landlord may elect either to repair the damage as aforesaid or to cancel this Lease by written notice of cancellation given to Tenant within one hundred twenty (120) days after the date of such occurrence, and thereupon this Lease shall cease and terminate with the same force and effect as though the date set forth in Landlord’s notice was the date herein fixed for routine maintenance the expiration of the Term hereof, and repairs Tenant shall vacate 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 surrender the Premises to their condition prior to Landlord. Upon the damage or destruction; or
(b) Terminate termination of this Lease. (providing that Lease as aforesaid, Tenant’s liability for the Premises is damaged to the extent of 33 1/3% rents reserved hereunder shall cease as of the replacement cost). If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction effective date of the Premises termination 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 themsubject, in which event Landlord agreeshowever, at its expense, 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 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 cancelled according to the provisions abovefor the prior abatement of rent hereinafter set forth. Unless this Lease is terminated pursuant to the foregoing provisionsby Landlord as aforesaid, this Lease shall remain in full force and effect. Tenant hereby expressly waives , and the parties waive the provisions of Section 1932any law to the contrary, Subdivision 2and Tenant shall repair, restore or replace Tenant’s trade fixtures, decorations, signs and contents in Section 1933the Premises in a manner and to at least a condition equal to that existing prior to their damage or destruction, Subdivision 4 and the proceeds of all insurance carried by Tenant on said property shall be held in trust by Tenant for the California Civil Codepurposes of such repair, restoration or replacement. In the event that the building in which If by reason of such fire or other casualty the Premises are situated is damaged rendered wholly untenantable, the Fixed Minimum Rent shall be fully abated, or destroyed if only partially damaged, the Fixed Minimum Rent shall be abated proportionately as to the extent of not less than 33-1/3% that portion of the replacement cost thereof. Premises rendered untenantable, in either event (unless Landlord may shall elect to terminate this Lease, whether Lease as aforesaid) until fifteen (15) days after notice by Landlord to Tenant that the Premises be injured have been substantially repaired and restored or notuntil Tenant’s business operations are restored in the entire Premises, whichever shall occur sooner. Notwithstanding anything Tenant shall continue the operation of Tenant’s business in the Premises or any part thereof not so damaged during any such period to the contrary hereinextent reasonably practicable from the standpoint of prudent business management and, Landlord may terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover 100% except for such abatement of the rebuilding costs net Fixed Minimum Rent as hereinabove set forth, nothing herein contained shall be construed to ▇▇▇▇▇ Tenant’s obligations for the payment of the deductibleFixed Minimum Rent, Percentage Rent or any other additional rent and charges reserved hereunder, except that the computation of such Percentage Rent shall be based upon the revised Fixed Minimum Rent as the same may be abated. If such damage or other casualty shall be caused by the gross negligence of Tenant or of Tenant’s subtenants, concessionaires, licensees, contractors or invitees or their respective agents or employees, there shall be no abatement of rent. Except for the abatement of the Fixed Minimum Rent hereinabove set forth, Tenant shall not be entitled to and hereby waives all claims against Landlord for any compensation or damage for loss of use of the whole or any part of the Premises and/or the Common Areas and/or for any inconvenience or annoyance occasioned by any such damage, destruction, repair or restoration. The provisions of any statute, rule, regulation, ordinance, order or other law which may be in effect at the time of the occurrence of any such damage or destruction, under which a lease is automatically terminated or a tenant is given the right to terminate a lease upon the occurrence of any such damage or destruction, are hereby expressly waived by Tenant.
Appears in 1 contract
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 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 If the Premises is damaged to the extent of 33 1/3more than 40% destroyed (based upon replacement cost) by any casualty or rendered inaccessible or unusable by any casualty, or if more than 25% of the replacement cost)Premises is destroyed during the last 12 months of the term of this Lease, Landlord may, in its sole discretion, terminate this Lease by delivery of notice to Tenant within 30 days of such event without compensation to Tenant. 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 elect to terminate this Lease, and if, in Landlord’s reasonable estimation, the Premises cannot be restored within 180 days following such destruction, the Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. notify Tenant shall be entitled to a reduction in 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 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 and Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to may terminate this Lease by giving fifteen (15) days prior written delivery of notice to Landlord within 30 days of receipt of Landlord’s notice. 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 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 If this Lease is not cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisionsprovision, then Landlord shall commence to restore the Premises, other than Betterments, and shall complete such restoration with due diligence. In such event, this Lease shall remain in full force and effect. Tenant hereby expressly waives , but there shall be an abatement of Base Monthly Rent between the provisions date of Section 1932destruction and the date of completion of restoration, Subdivision 2, in Section 1933, Subdivision 4 based on the extent to which destruction interferes with ▇▇▇▇▇▇’s use of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed Premises; provided, there shall be no abatement to the extent such damage is the result of not less than 33-1/3% of the replacement cost thereofTenant’s gross negligence or intentional wrongdoing. Landlord may elect Tenant shall, at its expense, with due diligence restore all Betterments damaged by casualty unless this Lease is terminated due to terminate this Lease, whether the Premises be injured or notsuch casualty. Notwithstanding anything Except to the contrary hereinextent covered by insurance, Tenant shall not to be entitled to any damages or compensation from Landlord may terminate this Lease in the event for loss of an uninsured event use or if insurance proceeds are insufficient to cover 100% of the rebuilding costs net of the deductibleany inconvenience occasioned by damage or any repair or restoration.
Appears in 1 contract
Sources: Lease (Nlight, Inc.)
Destruction. 7.01 If the Dwelling or the means of access thereto or the Project shall be damaged by fire or other cause covered by GCB Inc.’s insurance, GCB Inc. shall with reasonable dispatch after receipt of notice of said damage, repair or replace or cause to be repaired or replaced, the Building and the Dwelling and the means of access thereto, with materials of a kind and quality then customary in buildings of similar type as the Project. Any costs incurred by GCB Inc. in connection therewith which are not recovered under such insurance coverage shall be covered by the Reserve Fund. Anything in this Section to the contrary notwithstanding, GCB Inc. shall not be required to repair or replace or cause to be repaired or replaced any equipment, fixtures, furniture, furnishings or decorations installed by the Resident/Leaseholder or any previous resident of the Dwelling.
7.02 In case the event damage resulting from fire or other casualty shall be so extensive as to render the Premises are destroyed in whole Dwelling partly or in part from any causewholly untenable, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇or if the means of access thereto shall be destroyed, the Resident’s/Leaseholder’s Proportionate Share of Common Fees shall proportionately ▇▇▇▇▇ ▇▇until the Dwelling shall again be rendered capable of occupation and the means of access restored; but if said damage shall be caused by the act or negligence of the Resident, ▇▇▇or of any person in or on the Project at the invitation of, or with the consent of, the Resident/Leaseholder, such Common Fees shall ▇▇▇▇▇ may, only to the extent applicable at its optionthe time.
7.03 If GCB Inc. shall determine that:
(ai) Rebuild the Project is totally destroyed by fire or restore the Premises to their condition prior to the damage or destruction; other cause, or
(bii) Terminate the Project is so damaged that it cannot be repaired or restored within a reasonable time after the loss shall have been adjusted with the insurance carriers, or
(iii) if it shall be illegal to repair or replace such damage, then, and in such event, GCB Inc. shall terminate this Lease. (providing that Agreement by giving the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing Leaseholder, 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, promptly to rebuild or restore the Premises to their condition prior to the such damage or destruction. Tenant , notice of termination, and thereupon the Monthly Common Fees and any other amounts owing by the Resident/Leaseholder under this Agreement (except any outstanding and unpaid obligations of the Resident/Leaseholder under the Agreement as at the time of such termination) shall be entitled apportioned and paid to a reduction in 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 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 damage or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductibledestruction.
Appears in 1 contract
Sources: Life Lease Agreement
Destruction. 7.01 If the Dwelling or the means of access thereto or the Project shall be damaged by fire or other cause covered by GCB Inc.’s insurance, GCB Inc. shall with reasonable dispatch after receipt of notice of said damage, repair or replace or cause to be repaired or replaced, the Building and the Dwelling and the means of access thereto, with materials of a kind and quality then customary in buildings of similar type as the Project. Any costs incurred by GCB Inc. in connection therewith which are not recovered under such insurance coverage shall be covered by the Reserve Fund. Anything in this Section to the contrary notwithstanding, GCB Inc. shall not be required to repair or replace or cause to be repaired or replaced any equipment, fixtures, furniture, furnishings or decorations installed by the Resident/Leaseholder or any previous resident of the Dwelling.
7.02 In case the event damage resulting from fire or other casualty shall be so extensive as to render the Premises are destroyed in whole Dwelling partly or in part from any causewholly untenable, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇or if the means of access thereto shall be destroyed, the Resident’s/Leaseholder’s Proportionate Share of Common Fees shall proportionately ▇▇▇▇▇ ▇▇until the Dwelling shall again be rendered capable of occupation and the means of access restored; but if said damage shall be caused by the act or negligence of the Resident, ▇▇▇or of any person in or on the Project at the invitation of, or with the consent of, the Resident/Leaseholder, such Common Fees shall ▇▇▇▇▇ may, only to the extent applicable at its optionthe time.
7.03 If GCB Inc. shall determine that:
(ai) Rebuild the Project is totally destroyed by fire or restore the Premises to their condition prior to the damage or destruction; other cause, or
(bii) Terminate the Project is so damaged that it cannot be repaired or restored within a reasonable time after the loss shall have been adjusted with the insurance carriers, or
(iii) if it shall be illegal to repair of replace such damage, then, and in such event, GCB Inc. shall terminate this Lease. (providing that Agreement by giving the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing Leaseholder, 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, promptly to rebuild or restore the Premises to their condition prior to the such damage or destruction. Tenant , notice of termination, and thereupon the Monthly Common Fees and any other amounts owing by the Resident/Leaseholder under this Agreement (except any outstanding and unpaid obligations of the Resident/Leaseholder under the Agreement as at the time of such termination) shall be entitled apportioned and paid to a reduction in 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 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 damage or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductibledestruction.
Appears in 1 contract
Sources: Life Lease Agreement
Destruction. In the event the Premises Premises, the Building, the Parking Area or the Real Property are damaged or 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 for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ Landlord may, at its option:
(a) 34.1 Rebuild or restore the Premises Premises, the Parking Area and the Building, including, without limitation, any improvements made to the Building, at Landlord's expense, to their condition immediately prior to the damage or destruction; or
(b) Terminate this Lease. (providing that 34.2 If the Premises is damaged to the extent of 33 1/3% one-third (1/3rd) or more of the replacement cost)cost of the Building, terminate this Lease upon written notice to Tenant. 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 Tenant, promptly to rebuild or restore the Premises Premises, the Building, the Parking Area and the Real Property to their condition prior to the damage or destruction. Tenant shall be entitled to a an equitable reduction in 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 has interfered with or diminished Tenant's use and enjoyment of the Premises, the Building, the Parking Area, and the Real Property. If Landlord initially estimates that the rebuilding or restoration will exceed 180 one hundred eighty (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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlordTenant), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord's obligation to rebuild or restore shall be limited to the building Parking Area and other exterior improvements to the Real Property and the Building and interior improvements constructed by Landlord as they existed as of the commencement Commencement Date of the Lease Lease, and shall not include restoration of Tenant's trade fixtures, equipment, merchandise, or any Improvementsimprovements, alterations Alterations, or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease is not cancelled 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, except as set forth above. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of or the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 hereinin the Lease, Landlord may shall not have the right to terminate this the Lease in the event of an uninsured event if damage to or if insurance proceeds are insufficient to cover 100% destruction of the rebuilding costs net Premises or the Building, or both, results from a casualty covered by insurance required to be carried by Landlord under the Lease. In the case of damage which is not required to be covered by insurance, Landlord shall not have the right to terminate the Lease if the damage (i) is relatively minor (e.g., repair or restoration would take fewer than ninety (90) days and (ii) would cost less than five percent (5%) of the deductiblereplacement cost of the Building). Landlord shall notify Tenant within thirty (30) days following any damage to or destruction of the Premises (or the Building if such damage or destruction interferes with Tenant's use of the Premises) the length of time Landlord reasonably estimates to be necessary for repair or restoration.
Appears in 1 contract
Sources: Lease Agreement (Ilog Sa)
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 for under ▇▇▇▇▇▇▇▇▇ ▇▇Paragraph 10, ▇▇▇▇▇▇▇▇ Landlord may, at its option:
(a) Rebuild or restore the Premises to their res▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇heir condition prior to the damage or destruction; , or
(b) Terminate this Lease. (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost). ) 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, 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 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 embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlordLandlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlordlandlord. 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 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 Improvementsimprovements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenanttenant's sole cost and expense provided this Lease is not cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 33-33 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 100% of the rebuilding costs net of the deductible.
Appears in 1 contract
Destruction. In the event If the Premises are destroyed in whole shall be damaged by fire or in part from any causeother casualty required to be insured under Landlord’s insurance policies, then upon Landlord’s receipt of the insurance proceeds, Landlord may except for routine maintenance as otherwise provided herein, promptly repair 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 same (exclusive of Tenant’s lighting and trade fixtures, furniture, furnishings, personal property, decorations, signs and contents) substantially to their the condition thereof immediately prior to the such damage or destruction; or
(b) Terminate this Lease. (providing that the Premises is damaged destruction limited, however, to the extent of 33 1/3% of the replacement cost)insurance proceeds actually received by Landlord therefore. If Landlord does not give Tenant notice in writing within thirty (30) days from Landlord, at its sole discretion, may elect either to repair the destruction of the Premises of its election to either rebuild and restore themdamage as aforesaid, or to cancel this Lease by written notice of cancellation given to Tenant within ninety (90) days after the date of such occurrence, and thereupon this Lease shall cease and terminate this Leasewith the same force and effect as though the date set forth in the Landlord said notice were the date herein fixed for the expiration of the Lease Term. If by reason of such fire or other casualty the Premises is rendered wholly untenable, Landlord the “minimum rent” shall be deemed to have elected to rebuild abated, or restore themif only partially damaged, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant such rent shall be entitled abated proportionately as to a reduction in rent while such repair is being made in the proportion that the area portion of the Premises rendered untenantable by such untenable. Tenant shall not be entitled to and hereby waives all claims against Landlord for any compensation or damage bears to the total area for loss of use of the Premises. If Landlord initially estimates that the rebuilding whole or restoration will exceed 180 days or if Landlord does not complete the rebuilding 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay any part of the contractors Premises and/or for any inconvenience or subcontractors due to annoyance occasioned by any such causes damage, destruction, repair or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductiblerestoration.
Appears in 1 contract
Destruction. In the event (a) If the Premises are partially or totally destroyed by fire or other casualty insurable under insurance required to be maintained by Landlord pursuant to section 11.02 (a) so as to become partially or totally untenantable, the same shall be repaired or rebuilt as speedily as practical under the circumstances at the expense of the Landlord, unless Landlord elects not to repair or rebuild as provided in Subsection (b) of this Section 17.01. During the period required for restoration, a just and proportionate part of Base Rent, Additional Rent and other charges payable by Tenant hereunder shall be abated until the Premises are repaired or rebuilt.
(b) If the Premises are (I) rendered totally untenantable by reason of an occurrence described in Subsection (a), or (II) damaged or destroyed as a result of a risk which is not insured under Landlord’s fire insurance policies, or (III) at least twenty percent (20%) damaged or destroyed during the last two years of the Rental Term, or (IV) if the Building is damaged in whole or in part from (whether or not the Premises are damaged), to such an extent that Tenant cannot practically use the Premises for its intended purpose, and in any cause, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, such events then Landlord may at its option:option terminate this Lease Agreement by notice in writing to the Tenant within sixty (60) days after the date of such occurrence. Unless Landlord gives such notice, this Lease Agreement will remain in full force and effect and Landlord shall repair such damage at its expense as expeditiously as possible under the circumstances and a just and proportionate part of the Base Rent, Additional Rent, and other charges, shall be abated until the Premises are repaired or rebuilt.
(c) If Landlord should elect or be obligated pursuant to Subsection (a) Rebuild above to repair or restore the Premises to their condition prior to the rebuild because of any damage or destruction; or
(b) Terminate this Lease. (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost). 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, 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 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord's ’s obligation to rebuild or restore shall be limited to the building and interior original Building any other work or improvements constructed by which may have been originally performed or installed at Landlord’s expense. If the cost of performing Landlord’s obligation exceeds the actual proceeds of insurance paid or payable to Landlord as they existed as on account of the commencement 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 hereinsuch casualty, Landlord may terminate this Lease in Agreement unless Tenant, within fifteen (15) days after demand therefor, deposits with Landlord a sum of money sufficient to pay the event difference between the cost of an uninsured event or if insurance repair and the proceeds are insufficient to cover 100% of the rebuilding costs net insurance available for such purpose. Tenant shall replace all work and improvements not originally installed or performed by Landlord at its expense.
(d) Except as stated in this Article XVII, Landlord shall not be liable for any loss or damage sustained by Tenant by reason of the deductiblecasualties mentioned hereinabove or any other accidental • casualty.
Appears in 1 contract
Destruction. In the event of damage causing a partial destruction of the Premises premises or the building and other improvements in which the premises are destroyed in whole located during the term or in part extended term of this Lease from any cause, except for routine maintenance cause and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option:
can be made within one hundred twenty (a) Rebuild or restore the Premises to their condition prior to the damage or destruction; or
(b) Terminate this Lease. (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing within thirty (30120) days from the destruction date of the Premises damage under the applicable laws and regulations of its election to either rebuild governmental authorities, Landlord shall repair said damage promptly and restore themwithin a reasonable time, or to terminate but such partial destruction shall in no way void this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. except that Tenant shall be entitled to a proportionate reduction in of rent while such repair is repairs are being made in made, such proportionate reduction to be based upon the proportion that extent to which the area portion of the Premises rendered untenantable premises usable by such damage Tenant bears to the total area of the Premisespremises. If such repairs cannot be made in one hundred twenty (120) days, Landlord initially estimates may, at Landlord's option, make the same within a reasonable time, this lease continuing in full force and effect and the rent to be proportionately rebated as provided in the previous sentence. In the event that the rebuilding or restoration will exceed 180 days or if Landlord does not complete the rebuilding restoration within elect to make such repairs which cannot be made in one hundred eighty twenty (180120) days following the date of destruction (such period of time to be extended for delays caused by the fault or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractorsdays, or delay such repairs cannot be made under such laws and regulations, this Lease may be terminated at the option of either party. In respect to any partial destruction which Landlord is obligated to repair or may elect to repair under the contractors terms of this paragraph, the provisions of any statutes or subcontractors due to such causes or other contingencies beyond the control of landlord), then laws permitting Tenant shall have the right to terminate this Lease are waived by giving fifteen (15) days prior written notice to Landlord. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises premises are situated is damaged or destroyed to the extent of not less than thirty-three and one-third percent (33-1/3% %) or more of the then replacement cost thereof. , Landlord may elect to terminate this Lease, whether the Premises be injured premises are damaged or not. Notwithstanding anything to A total destruction of the contrary herein, Landlord may premises or of the building in which the premises are located shall terminate this Lease in the event of an uninsured event or if insurance proceeds are insufficient to cover 100% of the rebuilding costs net of the deductibleLease.
Appears in 1 contract
Destruction. In a. If the event leased premises shall be partially damaged by fire or other cause the Premises damage shall be repaired by and at the expense of Landlord and the fixed minimum rent and additional rent until such repairs shall be made shall be apportioned according to the part of the leased premises which is usable by Tenant. No penalty shall accrue for any delay which may arise by reason of adjustment of insurance on the part of Landlord and for any delay on account of "labor troubles" or any other cause, similar or dissimilar, beyond Landlord's control. Tenant shall give immediate notice to Landlord in case of fire in the leased premises. If the leased premises are destroyed in whole totally or substantially damaged or are rendered wholly or substantially untenantable by fire or other cause, and if Landlord shall decide not to restore or not to rebuild the same, or if the building shall be substantially damaged so that Landlord shall decide to demolish it or to rebuild it or to remodel it (whether or not the leased premises have been damaged), then or in part from any of such events Landlord may, within ninety (90) days after such fire or other cause, 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 is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant a notice in writing of such decision, and thereupon the term of this lease shall expire by lapse of time upon the third day after such notice is given, and Tenant shall vacate the leased premises and surrender the same to Landlord. If the leased premises are not restored or rebuilt and substantially completed within thirty (30) one hundredfifty days from after the destruction occurrence of the Premises of its election to either rebuild and restore themcasualty, or to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen lease within a period of thirty (1530) days prior written notice to Landlord. Notwithstanding anything herein to thereafter, in the contrary, Landlord's obligation same manner as if Landlord had exercised its decision not to rebuild or restore restore. If there shall not then exist and be limited to continuing an event of default of Tenant under Section 15 this lease, then, upon the building and interior improvements constructed by Landlord as they existed termination of this lease, under the conditions provided for in the sentence immediately preceding, Tenant's liability for rent shall cease as of the commencement day following the casualty and any security or other money on deposit with Landlord and any unearned rent or additional rent shall be paid to Tenant.
b. No damages, compensation or claims shall be payable by Landlord or Tenant for inconvenience, loss of business or annoyance arising from any repair or restoration of any portion of the Lease and shall not include restoration of Tenant's trade fixtures, equipment, merchandise, leased premises 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building except for rent abatement as provided in which the Premises are situated is damaged or destroyed to the extent paragraph a of not less than 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 100% of the rebuilding costs net of the deductibleSection 7.
Appears in 1 contract
Destruction. 19.01 If the Leased Premises or any portion thereof are destroyed by storm, fire, lightning, earthquake or other casualty, Tenant shall immediately notify Landlord. In the event the Leased Premises are destroyed cannot, in whole or in part from any causeLandlord’s reasonable, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇good faith judgment, ▇▇▇▇▇▇▇▇ may, at its option:
be restored within one hundred eighty (a180) Rebuild or restore days of the Premises to their condition prior to the date of such damage or destruction; or
(b) Terminate , this Lease. (providing that the Premises is damaged to the extent of 33 1/3% Lease shall terminate as of the replacement cost)date of such destruction, and all rent and other sums payable by Tenant hereunder shall be accounted for as between Landlord and Tenant as of that date. If Landlord does not give shall notify Tenant notice in writing within thirty (30) days from the destruction of the Premises date 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, promptly to rebuild or restore the Premises to their condition prior to the damage or destructiondestruction whether the Leased Premises can be restored within one hundred eighty (180) days. Tenant shall be entitled If this Lease is not terminated as provided in this Paragraph, Landlord shall, to a reduction in rent while such repair is being made in the proportion that the area extent insurance proceeds payable on account of the Premises rendered untenantable by such damage bears or destruction are available to Landlord (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 restoration excess proceeds belonging to Landlord), within a reasonable time, but in all events within one hundred eighty (180) days following the date of destruction (any such period of time to be extended for delays caused by damage or destruction, repair, restore, rebuild, reconstruct or replace the fault damaged or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay destroyed portion of the contractors or subcontractors due Leased Premises to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein a condition substantially similar to the contrary, Landlord's obligation to rebuild or restore shall be limited condition which existed prior to the building damage or destruction; provided, however, Landlord shall only be required to repair, restore, rebuild, reconstruct and interior replace the Leased Premises to the condition as existing on the Commencement Date of this Lease, and Tenant shall, at its sole cost and expense, repair, restore, rebuild, reconstruct and replace, as required, any and all improvements constructed installed in the Leased Premises by Landlord Tenant, including, without limitation, that work constituting the Tenant’s Work as they existed as of the commencement of the Lease more particularly described on Exhibit “D” attached hereto, and shall not include restoration of Tenant's all trade fixtures, equipmentpersonal property, merchandiseinventory, or any Improvementssigns and other contents in the Leased Premises, alterations or additions made by Tenant and all other repairs not specifically required of Landlord hereunder, in a manner and to at least the condition existing prior to the damage. Tenant’s obligation to pay Base Rent and Charges shall ▇▇▇▇▇ until Landlord has repaired, restored, rebuilt, reconstructed or replaced the Leased Premises, which Tenant shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease is not cancelled according as required herein, in proportion to the provisions abovepart of the Leased Premises which are unusable by Tenant. Unless this Lease If the damage or destruction is terminated pursuant due to the foregoing provisionsact, this Lease neglect, fault or omission of Tenant, there shall remain in full force and effect. Tenant hereby expressly waives be no rent abatement except to the provisions extent of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Coderent loss insurance. In the event of any dispute between Landlord and Tenant relative to the provisions of this paragraph, Landlord and Tenant agree that the building dispute shall be resolved by binding arbitration in which accordance with O.C.G.A. § 9-9-1, et seq., and the Premises are situated is damaged or destroyed to American Arbitration Association’s “Arbitration Rules for the extent of not less than 33-1/3% Real Estate Industry”, as in effect as of the replacement cost thereofCommencement Date. 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 the parties cannot agree on the selection of an uninsured event or if insurance proceeds are insufficient one (1) arbitrator, they agree to cover 100% of submit the rebuilding costs net of the deductible.dispute to American Arbitration Association, who shall select one (1)
Appears in 1 contract
Sources: Lease Agreement (Ceradyne Inc)
Destruction. If the Leased Premises or any portion thereof are destroyed by storm, fire, lightning, earthquake or other casualty, Tenant shall immediately notify Landlord. In the event the Leased Premises cannot, in Landlord's judgment, be restored within one hundred eighty (180) days of the date of such damage or destruction, this Lease shall terminate as of the date of such destruction, and all rent and other sums payable by Tenant hereunder shall be accounted for as between Landlord and ▇▇▇▇▇▇ as of that date. Landlord shall notify Tenant within thirty (30) days of the date of the damage or destruction whether the Leased Premises can be restored within one hundred eighty (180) days. If this Lease is not terminated as provided in this Paragraph, Landlord shall, to the extent insurance proceeds payable on account of such damage or destruction are available to Landlord (with the excess proceeds belonging to Landlord), within a reasonable time, repair, restore, rebuild, reconstruct or replace the damaged or destroyed portion of the Leased Premises to a condition substantially similar to the condition which existed prior to the damage or destruction. Provided, however, Landlord shall only be required to repair, restore, rebuild, reconstruct and replace the Landlord's Work shown on Exhibit "B", and Tenant shall, at its sole cost and expense, upon completion of the Landlord's Work, repair, restore, rebuild, reconstruct and replace, as required, any and all improvements installed in whole the Leased Premises by Tenant and all trade fixtures, personal property, inventory, signs and other contents in the Leased Premises, and all other repairs not specifically required of Landlord hereunder, in a manner and to at least the condition existing prior to the damage. Tenant's obligation to pay Base Rent shall ▇▇▇▇▇ until Landlord has repaired, restored, rebuilt, reconstructed or replaced the Leased Premises, as required herein, in proportion to the part from of the Leased Premises which are unusable by Tenant. If the damage or destruction is due to the act, neglect, fault or omission of Tenant, there shall be no rent abatement except to the extent of rent loss insurance. In the event of any cause, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇dispute between ▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option:
(a) Rebuild or restore the Premises to their condition prior and Tenant relative to the damage or destruction; or
(b) Terminate provisions of this paragraph, they may each select an arbitrator, the two arbitrators so selected shall select a third arbitrator and the three arbitrators so selected shall hear and determine the controversy and their decision thereon shall be final and binding on both Landlord and Tenant who shall bear the cost of such arbitration equally between them. Landlord shall not be required to repair any property installed in the Leased Premises by Tenant. Tenant waives any right under applicable laws inconsistent with the terms of this paragraph and in the event of a destruction agrees to accept any offer by Landlord to provide Tenant with comparable space within the project in which the Leased Premises are located on the same terms as this Lease. Notwithstanding the provisions of this paragraph, if any such damage or destruction occurs within the final two (providing that 2) years of the Premises is damaged term hereof, then Landlord, in its sole discretion, may, without regard to the extent of 33 1/3% of the replacement cost). 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 themaforesaid 180-day period, or to terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductible.
Appears in 1 contract
Destruction. In Should the event premises or the Premises building or which the same are a part be damaged or destroyed in whole or in part from any causeby fire, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇earthquake, ▇▇▇▇▇▇▇▇ mayor other casualty, at its option:
so they cannot be repaired within ninety (a90) Rebuild or restore working days to substantially the Premises to their condition prior to the damage such casualty. Lessor or destruction; or
(b) Terminate this Lease. (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing Lessee may within thirty (30) days from the destruction thereafter terminate this lease as of the Premises date of its election to either rebuild and restore themsuch casualty. If by reason of any laws said building cannot be repaired or restored as a building of the same class, then irrespective of the time in which the building can be repaired or to restored, Lessor or Lessee at any time within thirty (30) days of such casualty, may terminate this Leaselease as of the date of such casualty. Upon any damage as aforesaid, Landlord and if the lease be not terminated as provided, Lessor shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or with reasonable diligence restore the Premises premises to their substantially the condition prior to the casualty, with such changed as may be required, under any laws, ordinances or regulations. If such damage or destruction. Tenant shall have occurred after the commencement of the term, Lessee shall be entitled to a reduction in rent while such repair is being made in the proportion that the area reasonable diminution of the Premises rendered untenantable by such damage bears to minimum monthly rental hereunder during 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 restoration within one hundred eighty (180) days following the date of destruction (such period of time to be extended required for delays caused by the fault or neglect of Tenant because of Acts of Godrestoration, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 proportion of the California Civil Codepremises rendered untenantable. In Lessor shall not be liable for any damages resulting to lessee from the repair and reconstruction of such demised premises or building, or from the termination of this lease as herein provided, not shall Lessee be released thereby or in any such event that the building in which the Premises are situated is damaged or destroyed from any of its obligations hereunder, except to the extent of not less than 33-1/3% of and upon the replacement cost thereof. Landlord may elect to terminate conditions expressly stated in 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 100% of the rebuilding costs net of the deductibleArticle.
Appears in 1 contract
Destruction. In If during the event Term of this Lease, any portion of the Premises, access to the Premises are destroyed in whole or in any part from any cause, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for of the Building which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option:
(a) Rebuild or restore the Premises to their condition prior essential to the damage or destruction; or
(b) Terminate this Lease. (providing that use of the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing within thirty (30) days from the or destroyed and such damage or 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 themcan, in which event Landlord agreesLandlord’s reasonable estimation, at its expense, promptly to rebuild or restore the Premises to their condition prior to the be repaired within 180 days following such damage or destruction. Tenant shall be entitled to a reduction in 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effecteffect and Landlord shall promptly commence to repair and restore the damage or destruction to substantially the same condition as existed prior to such damage and shall complete such repair and restoration with due diligence in compliance with all then existing laws. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2If (1) such damage or destruction cannot, in Section 1933Landlord’s reasonable estimation, Subdivision 4 be repaired within 180 days following such damage or destruction; or (2) more than forty percent (40%) of the California Civil CodeBuilding is damaged or destroyed (regardless of its impact on the Premises); or (3) any mortgagee of the Building will not allow the application of insurance proceeds to be applied to repair and restoration; or (4) the damage or destruction is not covered in full by Landlord’s insurance required by Paragraph 18, or (5) the damage or destruction occurs within the last twelve (12) months of the Term of this Lease or any extension hereof, then Landlord may, in its sole discretion, terminate this Lease by delivery of notice to Tenant within 30 days of the date Landlord learns of the damage. In the event that of repair, reconstruction and restoration by Landlord as herein provided, the building in rent payable under this Lease shall be abated proportionately with the degree to which Tenant’s use of the Premises are situated is damaged impaired during the period of such repair, reconstruction or destroyed restoration; provided that there shall be no abatement of rent if such damage is the result of Tenant’s negligence or intentional wrongdoing. Tenant shall not be entitled to any compensation or damages for loss of the use of the whole or any part of the Premises, damage to Tenant’s Personal Property and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. If Landlord is obligated to or elects to repair or restore as herein provided, Landlord shall be obligated to make repair or restoration only to those portions of the Building and the Premises which were originally provided at Landlord’s expense, and the repair and restoration of items not provided at Landlord’s expense shall be the obligation of Tenant. Tenant agrees to coordinate the restoration and repair of those items it is required to restore or repair with Landlord’s repair and restoration work and in coordination with a work schedule prepared by Landlord, or Landlord’s contractor. Further, Tenant’s work shall be performed in accordance with the terms, standards and conditions contained in Paragraph 16 above. The provisions of California Civil Code Section 1932, Subsection 2, and Section 1933, Subsection 4, and any other similarly enacted statute or court decision relating to the extent abatement or termination of not less than 33-1/3% a lease upon destruction of the replacement cost thereof. Landlord may elect to terminate leased premises, are hereby waived by Tenant; and the provisions of this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease Paragraph 19 shall govern in the event case of an uninsured event or if insurance proceeds are insufficient to cover 100% of the rebuilding costs net of the deductiblesuch destruction.
Appears in 1 contract
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 for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ mayParagraph 7. Landlord must either, at its option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction; or
, or (b) Terminate this Lease. , (providing that the Premises is damaged to the extent of 33 1/3% or more of the replacement cost). ) 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, 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 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 embargoesembargos, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractorsSubcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlordLandlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 Improvementsimprovements, alterations or additions made by Tenant to the Premises, which Tenant shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease is not cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effect. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 33-33 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 100% one hundred percent of the rebuilding costs net of the deductible, unless Tenant, within ten (10) days after receipt of written notice from Landlord, agrees to pay for 100% of any such deficiency.
Appears in 1 contract
Destruction. In If during 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 for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option:
(a) Rebuild or restore the Premises to their condition prior to the damage or destruction; or
(b) Terminate Term of this Lease. (providing that , any portion of the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Tenant notice in writing within thirty (30) days from the or destroyed and such damage or 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 themcan, in which event Landlord agreesTenant’s reasonable estimation, at its expense, 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 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 restoration repaired within one hundred eighty (180) days following the date of destruction (such period of time to be extended for delays caused by the fault damage or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisionsdestruction, this Lease shall remain in full force and effecteffect and Tenant shall promptly commence to repair and restore the damage or destruction to substantially the same condition as existed prior to such damage and shall complete such repair and restoration with due diligence in compliance with all then existing laws. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2If (a) such damage or destruction cannot, in Section 1933Tenant’s reasonable estimation, Subdivision 4 be repaired within one hundred eighty (180) days following such damage or destruction; or (b) the damage or destruction occurs within the last three (3) months of the California Civil CodeTerm of this Lease, then Landlord may, in its sole discretion, terminate this Lease by delivery of notice to Tenant within thirty (30) days of the date Landlord learns of the damage and Landlord shall be entitled to receive all proceeds from insurance policies for any such damage or destruction, other than any proceeds paid for Tenant’s sales office furniture and equipment. In the event that of repair, reconstruction and restoration by Tenant as herein provided, the building in which Rent, Additional Rent and any other amounts payable under this Lease shall not be abated. Tenant shall not be entitled to any compensation or damages for loss of the Premises are situated is damaged use of the whole or destroyed any part of the Premises, damage to Tenant’s personal property and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. The provisions of California Civil Code Section 1932, Subsection 2, and Section 1933, Subsection 4, and any other similarly enacted statute or court decision relating to the extent abatement or termination of not less than 33-1/3% a lease upon destruction of the replacement cost thereof. Landlord may elect to terminate Premises, are hereby waived by Tenant; and the provisions of this Lease, whether the Premises be injured or not. Notwithstanding anything to the contrary herein, Landlord may terminate this Lease Paragraph 12 shall govern in the event case of an uninsured event or if insurance proceeds are insufficient to cover 100% of the rebuilding costs net of the deductiblesuch destruction.
Appears in 1 contract
Sources: Lease Agreement (California Coastal Communities Inc)
Destruction. In If the event Leased Premises should be damages or destroyed by fire or other cause to such an extent that the cost of repair and restoration would exceed thirty percent (30%) of the amount it would cost to replace the Leased 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 for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, its entirety at its option:
(a) Rebuild or restore the Premises to their condition prior to the time such damage or destruction; or
(b) Terminate destruction took place, then Landlord shall have the right to cancel this Lease. (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost). If Landlord does not give Lease by giving Tenant notice in writing of such election within thirty (30) days from after the occurrence of such damage or destruction and this Lease shall terminate as of fifteen (15) days after the Premises of date such notice is given. If Landlord fails to exercise this option to terminate then Landlord shall at its election to either rebuild expense promptly repair 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, promptly to rebuild or restore the Leased Premises to their substantially the same condition they were in prior to the damage or destruction. Tenant shall If the Leased Premises should be entitled damages or destroyed by fire or other cause to a reduction in rent while such repair is being made in the proportion an extent that the area costs of repair and restoration would be less than thirty percent (30%) of the amount it would cost to replace the Leased Premises rendered untenantable by in its entirety at the time 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord)took place, then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 cancelled according to the provisions above. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain not terminate and the Landlord shall at its expense promptly repair and replace the Leased Premises to substantially the same condition they were in full force and effectprior to the damage or destruction. Tenant hereby expressly waives If the provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Leased Premises are situated is an integral part of a larger structure and if the structure should be damaged or destroyed by fire or other cause to such an extent that the extent cost of not less than 33-1/3% repair and restoration would exceed thirty percent (30%) of the replacement amount it would cost thereof. Landlord may elect to terminate this Lease, whether replace the structure in its entirety at the time such damage or destruction took place and notwithstanding that the Leased 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 100% of the rebuilding costs net of the deductible.may
Appears in 1 contract
Sources: Lease (First Shares Bancorp Inc)
Destruction. In If the event Demised Premises shall be partially damaged by any casualty insurable under the Premises are destroyed in whole or in part from any causeLandlord's insurance policy, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇Landlord shall, ▇▇▇▇▇▇▇▇ 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 is damaged to the extent of 33 1/3% upon receipt of the replacement cost)insurance proceeds, repair the same with reasonable speed. If Landlord does not give Tenant notice in writing within thirty (30) days from the destruction and a just and proportionate part of the Premises of its election to either rebuild and restore them, or to terminate this Lease, Landlord rent shall be deemed to have elected to rebuild or restore them, in which event abated until so repaired. The obligation of Landlord agrees, at its expense, 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 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. Notwithstanding anything herein to the contrary, Landlord's obligation to rebuild or restore hereunder shall be limited to the building basic building, store front and the replacement of any interior improvements constructed work originally installed by Landlord. If more than fifty (50%) percent of the Demised Premises shall be rendered untenantable or should be damaged as a result of a risk which is not covered by Landlord's insurance, or if fifty (50%) percent or more of the rentable area of the Center shall be damaged or destroyed by fire or other cause, notwithstanding that the Demised Premises may be unaffected by such event. then or In any such events, Landlord as they existed may elect 10 repair the damage or may cancel this case within ninety (90) days of said occurrence by notice of Cancellation to Tenant and Tenant shall vacate the Demised Premises. Tenant's liability for rent upon the termination of this Lease shall cease as of the commencement of day following the Lease and shall not include restoration of Tenant's trade fixtures, equipment, merchandise, event 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 cancelled according to the provisions abovedamage. Unless this Lease is terminated pursuant to the foregoing provisions, this Lease shall remain in full force and effectby Landlord. Tenant hereby expressly waives shall hold the provisions proceeds or all insurance carried by Tenant on its property and improvements in trust for the purpose of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Coderepair and replacement. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 Landlord elects to repair the damage any abatement of an uninsured event rent shall end five (5) days after notice by Landlord to Tenant that the Demised Premises have been repaired. If any damage is caused by the negligence of Tenant or if insurance proceeds are insufficient to cover 100% its employees, the damages shall be repaired by Landlord, upon receipt of the rebuilding costs net Insurance proceeds. but there shall be no abatement of the deductiblerent.
Appears in 1 contract
Destruction. In the event “Destruction” shall mean damage or Destruction to 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 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 is damaged Hangar to the extent that the cost of 33 1/3% repair is greater than thirty percent (30%) of the replacement cost)fair market value of either immediately prior to such damage or Destruction. If at any time during the term of this Lease there is damage to the Hangar or Premises, whether or not an insured loss (including Destruction required by any authorized public authority), which may be classified as Destruction, this Lease shall at Landlord’s option, terminate as of the date of such Destruction. Not withstanding the foregoing, if Landlord does not give Tenant notice in writing within thirty (30) days from the destruction completes rebuilding 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, promptly to rebuild or restore Landlord’s option within the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord)Lease term, then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice reoccupy the Premises upon the terms and conditions that will be in effect at the time. Landlord reserves the absolute right to Landlord. Notwithstanding anything herein to make the contrary, Landlord's obligation determination to rebuild or restore shall be limited the right not to the building and interior improvements constructed by Landlord as they existed as of the commencement 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 rebuild the Premises, which Tenant shall forthwith replace or fully repair at Tenant's sole cost and expense provided this Lease is not cancelled according . Subject to the provisions above. Unless on condemnation and damage near the end of the term, if at any time during the term of this Lease there is terminated pursuant to damage which does not fall within the foregoing provisionsclassification of Destruction, unless caused by a negligent or willful act of Tenant (in which event Tenant shall make the repairs at Tenant’s sole expense), Landlord will repair such damages within a reasonable time at Landlord’s expense, in which event this Lease shall remain continue in full force and effect. Tenant hereby expressly waives the provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductible.
Appears in 1 contract
Sources: T Hangar Agreement
Destruction. In the event If the Premises are substantially damaged or destroyed in whole by fire or in part from any causeother casualty, except for routine maintenance and repairs and incidental damage and destruction caused from vandalism and accidents for which then Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ may, at its option:
may terminate this Lease by giving Landlord written notice to such effect within fifteen (a15) Rebuild or restore days after the Premises to their condition prior to the damage or destruction; or
(b) Terminate this Lease. (providing that the Premises is damaged to the extent of 33 1/3% date of the replacement cost)casualty. If Landlord does not give Tenant notice in writing within thirty (30) days from Upon the destruction giving of the Premises of its election to either rebuild and restore themsaid written notice, or to terminate this Lease, Landlord Lease shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore terminated and expired upon the Premises to their condition prior to date of the substantial damage or destruction. Tenant shall be entitled to a reduction in 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 destruction of the Premises. If Tenant shall thereafter vacate the Premises and surrender the same to Landlord initially estimates that the rebuilding on or restoration will exceed 180 days or if Landlord does not complete the rebuilding restoration within one hundred eighty before twenty (18020) days following after the date on which the Premises were substantially damaged or destroyed. Upon the termination of this Lease, as aforesaid, Tenant’s liability for the rents and other charges reserved hereunder shall cease as of the date of such damage or destruction and Landlord shall make an equitable refund of any rents and other charges paid by Tenant in advance and not earned. The Premises shall be deemed substantially damaged or destroyed if the cost of repair and restoration is sixty percent (such period of time to be extended for delays caused by the fault 60%) or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay more of the contractors or subcontractors due to such causes or other contingencies beyond the control then full replacement cost of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 if the Premises could not cancelled according be restored by Landlord 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 its pre-casualty condition within ninety (90) days of the California Civil Codedate of the casualty. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of Tenant does not less than 33-1/3% of the replacement cost thereof. Landlord may elect to terminate this Lease, whether the Premises be injured Lease for a substantial destruction 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 100% there is less than a substantial destruction of the rebuilding costs net Premises, and the Premises are capable of being occupied by Tenant to any extent, the Base Rent shall be abated proportionately based upon the percent of the deductiblePremises that can be occupied by the Tenant.
Appears in 1 contract
Destruction. In the event the Premises are destroyed in whole or in part from form any cause, except for routine maintenance and repairs and incidental damage and destruction caused from form vandalism and accidents for which Tenant is responsible for under ▇▇Paragraph 10, Landlord may, at its option:
(A) Rebuild o▇ ▇▇▇▇▇▇▇ ▇▇, ▇ ▇▇▇▇▇▇▇▇ may, at its option:
(a) Rebuild or restore to the Premises to their condition prior to the damage or destruction; or
(bB) Terminate this Lease. , (providing that the Premises is damaged to the extent of 33 1/3% of the replacement cost). 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, 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 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 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 acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlordLandlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% of the rebuilding costs net of the deductible.as
Appears in 1 contract
Sources: Lease Agreement (Ipass Inc)
Destruction. In the event 19.01 Should the Premises are or the building on the Premises be partially destroyed by any cause not the fault of Lessee (or any person in whole or about the Premises with the consent, expressed or implied, of Lessee), this Lease will continue in part from any cause, except for routine maintenance full force and repairs effect and incidental damage and destruction caused from vandalism and accidents for which Tenant is responsible for under ▇▇▇▇▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇▇▇ mayLessor, at its option:
(a) Rebuild or restore Lessor’s own cost and expense, will promptly commence the work of repairing and restoring the Premises to their prior condition prior to the damage or destruction; or
(b) Terminate this Lease. (providing that the Premises is damaged to work can be accomplished under all applicable government laws and regulations within sixty (60) working days from the extent date of 33 1/3% damage at a cost not exceeding twenty-five percent (25%) of the total replacement cost)cost of the Premises. If Landlord does not give Tenant notice in writing within Within thirty (30) days from the destruction of the Premises occurrence of its election to either rebuild and restore thempartial destruction, or to Lessor may terminate this Lease, Landlord shall be deemed to have elected to rebuild or restore them, in which event Landlord agrees, at its expense, promptly to rebuild or restore the Premises to their condition prior to the damage or destruction. Tenant shall be entitled to a reduction in rent while such repair is being made in the proportion that the area Lease as 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 restoration within one hundred eighty (180) days following the date of destruction the occurrence if nine (such period of time to be extended for delays caused by the fault 9) months or neglect of Tenant because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant shall have the right to terminate this Lease by giving fifteen (15) days prior written notice to Landlord. 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 of less remain in the Lease and shall not include restoration of Tenant's trade fixtures, equipment, merchandise, Term. Should the Premises 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 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged a part be so far destroyed by any cause not the fault of Lessee (or destroyed any person in or about the Premises with the consent, expressed or implied, of Lessee) that they cannot be repaired or restored to the extent of not less than 33-1/3% their former condition within sixty (60) days of the date of damage or at a cost exceeding twenty-five percent (25%) of the total replacement cost thereofof the Premises or the building as the case may be, Lessor may at Lessor’s option either:
A. Continue this Lease in full force and effect by repairing and restoring, at Lessor’s own cost and expense, the Premises to their former condition; or
B. Terminate this Lease by giving Lessee written notice of such termination. Landlord may elect to terminate this Lease, whether Should the Premises be injured partially or not. Notwithstanding anything to totally destroyed by any cause of Lessee, or any person in or about the contrary hereinPremises with the consent, Landlord may terminate expressed or implied of Lessee, this Lease will remain in full force and effect and Lessee shall immediately commence work to repair the damage and diligently pursue its completion in accordance with the provisions of paragraph 11 hereof. Any insurance proceeds received by Lessor because of the total or partial destruction of the Premises or the building on the Premises will be the sole property of Lessor, free from any claims by Lessee, and may be used by Lessor for whatever purposes Lessor may desire. Should Lessor elect to repair and restore the Premises to their former condition, or should Lessor be required to restore the Premises to their former condition, there will be a proportional abatement in the event amount of an uninsured event rent payable during the period of repair and restoration as long as Lessee (or if insurance proceeds are insufficient to cover 100% any person in or about the Premises with the consent, expressed or implied of Lessee) is not the cause of the rebuilding costs net total or partial destruction. The rent due under the terms of the deductibleLease will be reduced between the date of destruction and the date of completion of restoration and repairs based on the extent to which destruction interferes with Lessee’s use of the Premises.
Appears in 1 contract
Sources: Lease Agreement (Iii to I Maritime Partners Cayman I Lp)
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 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 is damaged to the extent of 33 1/3% of the replacement cost). 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, 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 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 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 because of Acts of God, acts of public agencies, labor disputes, strikes, fires, freight embargoes, rainy or stormy weather, inability to obtain materials, supplies or fuels, acts of contractors or subcontractors, or delay of the contractors or subcontractors due to such causes or other contingencies beyond the control of landlord), then Tenant Either party hereto shall have the right to terminate this Lease by giving fifteen 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 (1560) days prior 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 Landlordthe other party given within thirty (30) days following the date of destruction or damage. Notwithstanding anything herein to In the contrary, Landlord's obligation to rebuild or restore event of 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 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 cancelled 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 provisions of Section 1932, Subdivision 2, in Section 1933, Subdivision 4 of the California Civil Code. In the event that the building in which the Premises are situated is damaged or destroyed to the extent of not less than 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 100% realized under policies maintained by Landlord shall be the sole and exclusive property of the rebuilding costs net of the deductibleLandlord and insurance proceeds from policies maintained by Tenant or Tenant's personal property shall be solely Tenant's.
Appears in 1 contract
Sources: Lease Agreement (Cyberkinetics Neurotechnology Systems, Inc.)