FIRE CLAUSE. In the event of a fire or other casualty in the Premises, Lessee shall immediately give notice thereof to Lessor. If the Premises through no fault or neglect of Lessee, its agents or employees shall be partially destroyed by fire or other casualty so as to render the Premises untenantable in whole or in part, the rental provided for herein shall xxxxx thereafter as to the portion of the Premises rendered untenantable until such time as the Premises are made tenantable as determined by Lessor and Lessor shall, upon receipt of insurance proceeds, commence and prosecute such repair work promptly and with all due diligence; provided, however, in the event such destruction results in the Premises being untenantable in whole or in substantial part for a period reasonably estimated by a responsible contractor selected by Lessor to be six (6) months or longer after Lessor's insurance settlement, or in the event of total or substantial damage or destruction of the Building from any cause and if Lessor shall decide not to rebuild, then all rent owed up to the time of such destruction or termination shall be paid by Lessee and thenceforth this Lease shall cease and terminate. Lessor shall give Lessee written notice of its decisions, estimates or elections under this Paragraph 5, Lessor shall only be obligated to restore or rebuild the Premises to a building standard condition; provided, however, Lessee shall have the right to cause Lessor to rebuild or restore the Premises to the condition they were in prior to such damage or destruction, in which event Lessee shall bear the cost of such restoration or rebuilding to the extent the same exceeds the costs Lessor would have incurred had only building standard improvements been used; provided, as a condition precedent to commencement of construction, Lessor may, at its option, require Lessee to PREPAY the construction costs in excess of those costs necessary to complete the Premises to building standard condition or provide evidence satisfactory to Lessor of Lessee's ability to pay such costs. Notwithstanding anything to the contrary in this Lease, if the holder of any debt secured by a lien on the Building or Premises requires insurance proceeds to be applied to that debt, then Lessor may terminate this Lease on written notice to Lessee, whereupon all further rights and obligations of each party shall terminate.
FIRE CLAUSE. The LESSEE agrees to notify LESSOR of any damages to the Leased Premises by fire or other hazard and also of any dangerous or hazardous condition within the Leased Premises immediately upon the occurrence of such fire or other hazard or discovery of such condition. Upon occurrence of a fire, repairs shall be made by LESSOR as soon as reasonably may be done unless the costs of repairing the Premises exceed 25% of the replacement cost of the building in which case the LESSOR may, at its option, terminate this lease by giving LESSEE written notice of termination within 30 days of the date of the occurrence. If the LESSOR does not terminate this Lease pursuant to the paragraph above, then LESSOR has 30 days after the date of occurrence to give written notice to LESSEE setting forth its unqualified commitment to make all necessary repairs or replacements, the projected date of commencement of such repairs, and the LESSOR’S best good faith estimate of the date of completion of the same. If the LESSOR fails to give such notice, or if the date of completion is more than 90 days after the date of the occurrence, then the LESSEE may, at its option, terminate this lease and the LESSOR will be obliged to refund to the LESSEE any rent allocable to the period subsequent to the date of the fire.
FIRE CLAUSE. 17.1 In the event the Premises or any part thereof, the elevators, hallways, stairways or other approaches thereto, becomes damaged or destroyed by fire or other casualty from any cause so as to render said Premises and/or approaches unfit for use and occupancy, a just and proportionate part of the Rent according to the nature and extent of the damage or injury to said Premises and/or approaches, shall be suspended or xxxxx until said Premises and/or approaches have been put in as good condition for use and occupancy as at the time immediately prior to such damage or destruction. Landlord shall proceed, at its expense and as expeditiously as may be practicable, to repair the damage unless, because of the substantial extent of the damage or destruction, Landlord should decide not to repair or restore the Premises or the Project, in which event and at Landlord’s sole option Landlord may terminate this Lease forthwith by giving Tenant a written notice of its intention to terminate within ninety (90) days after the date of the fire or other casualty. Landlord shall not be obligated to repair, restore or replace any fixture, improvement, alteration, furniture or other property owned, installed or made by Tenant, all of which shall be repaired, restored or replaced by Tenant.
FIRE CLAUSE. If the Premises shall be made untenantable, in whole, or a substantial part, by fire or other casualty, the Lessor, if it so elects, may (a) terminate the term of this Lease effective as of the date of such fire or casualty, by written notice given to the Lessee fifteen (15) days after such date, or (b) repair, restore or rehabilitate the Premises at the Lessor's expense, in which event the term hereof shall not terminate, but any fixed rent herein reserved shall be abated on a per diem basis in proportion to the area of the Premises rendered untenantable by such fire or casualty. The Lessee shall give to the Lessor prompt written notice of any fire, damage or casualty occurring in, about or to the Premises. In the event the Lessor elects to rehabilitate the Premises, and the Lessor has not substantially completed the rehabilitation within one hundred eighty (180) days from the date of such fire or casualty, the Lessee shall have the option, upon written notice to the Lessor, to cancel and terminate this Lease, and all rent due hereunder shall be prorated up to and including the date of receipt of the notice of termination to the Lessor.
FIRE CLAUSE. It is mutually agreed that in case of injury to the premises by fire, the Landlord shall cause the damage to be repaired, the rent suspended only for such a time, an only in the proportion, as the premises shall remain untenantable; but if the building be destroyed or so damaged that the Landlord shall, in its sole discretion, decide it is not advisable to repair, this Lease shall cease and terminate and the Tenant shall pay the rent to the time of injury. If the Leased Premises or any other part of the Building is damaged by fire or other casualty resulting from any act or negligence of Tenant or any of Tenant’s agents, employees, or invitees, rent shall not be diminished or abated while such damages are under repair, and Tenant shall be responsible for the costs of repair not covered by insurance. Landlord shall maintain fire and extended coverage insurance on the Building and the Leased Premises in such amounts as Landlord shall deem appropriate. Tenant shall be responsible, at its expense, for fire and extended coverage insurance on all of its personal property, including removable trade fixtures, located in the Leased Premises.
FIRE CLAUSE. If any major component of the improvements constructed by the LESSEE on the leased Premises are damaged or destroyed, in whole or in part, by fire or other casualty at any time during the Term of this Lease, or Option Term, to the extent that it is no longer reasonably appropriate for LESSEE'S use and occupancy of said premises, LESSEE shall have the option of terminating this lease upon written notice to LESSOR within thirty (30) clays of the elate the premises are rendered untenantable or commencing reconstruction, repair, or the restoration of said major component of such improvements in a reasonable, sufficient, and timely manner at LESSEE'S sole cost and expense, in which case this lease shall continue in accordance with all of its terms and conditions. Failure of LESSEE to give notice of cancellation within said thirty (30) clay period shall mean that the LESSEE exercises its option to continue the lease in force and effect.
FIRE CLAUSE. In the event the Building or the Demised Premises shall be damaged by fire, flood, windstorm, earthquake or any other casualty to such an extent that, in the written opinion (certified as such) of a mutually acceptable licensed architect, they cannot be restored to as good a condition as they were prior to such damage within one hundred fifty (150) days after the date of such casualty, Lessor and Lessee shall each have the right to cancel and terminate this Lease by delivering written notice of such termination to the other party within thirty (30) days after receipt of such architect's opinion (with the rental obligation being reduced from the date of such damage to the date of such termination in such proportion as will compensate Lessee for any space not usable by Lessee). If Lessor or Lessee does not exercise such right to cancel this Lease within such thirty (30) day period or if such architect shall have certified that such repairs can be made within a period of one hundred fifty (150) days, Lessor agrees to repair the Building and the Demised Premises with due diligence and, in the meantime, the rent shall be reduced in such proportion as will compensate Lessee for the space not in proper condition during such repair period. Notwithstanding any terms to the contrary in this Lease, Lessor and Lessee may each terminate this Lease if the damage is not covered by the insurance policies that Landlord must maintain, pursuant to Paragraph 23 of this Lease. It is further provided that in the event the Demised Premises is substantially destroyed by fire, flood, windstorm, earthquake or any other casualty within one (1) year prior to the expiration or earlier termination of the lease term, both Lessor and Lessee shall have the mutual right to terminate this Lease as of the date of such damage with written notice to the other party.
FIRE CLAUSE. In the event of a fire in the Premises, Lessor and Lessee mutually covenant and agree that Lessee shall immediately give notice thereof to Lessor. If the Premises, through no gross negligence of Lessee, its agents, employees, invitees or visitors, shall be partially or entirely destroyed by fire or other casualty so as to render the Premises untenantable, the rental provided for herein shall xxxxx thereafter until such time as the Premises are made tenantable as determined by Lessor (but in no event shall Lessor’s obligation exceed Building Standard Improvements). In the event of the destruction of the Premises through no gross negligence of Lessee, its agents, employees, invitees or visitors, or if from any cause the same shall be so damaged that Lessor shall decide not to rebuild, then Lessor or Lessee may terminate this Lease and all rent owed up to the time of such damage, destruction or termination shall be paid by Lessee and thenceforth this Lease shall cease and come to an end.
FIRE CLAUSE. (a) If the Premises are partially damaged by fire or other casualty, not occurring through Lessee's fault, and such damage can be repaired within one hundred eighty (180) days after the date of such occurrence, the Lease shall remain in full force and effect, and the Lessee shall promptly repair such damage at Lessee's expense, and in that event there shall be proportionate abatement of rent for so much of the Premises and may be untenantable during the period of repair or restoration unless the Premises were damages through Lessee's fault.
FIRE CLAUSE. In the event of a fire in the Premises, Lessor and Lessee mutually covenant and agree that Lessee shall immediately give notice thereof to Lessor. If the Premises, through no fault or neglect of Lessee, its agents, employees, OR invitees, shall be partially destroyed by fire or other casualty so as to render the Premises untenantable, the rental provided for herein shall abate thereafter until such time as the Premises are made tenantable xx XEASONABLY determined by Lessor (but in no event shall Lessor's obligation exceed Building Standard Improvements). In the event of the destruction of the Premises without fault or neglect of Lessee, its agents, employees, OR invitees, or if from any cause the same shall be so damaged that Lessor shall decide not to rebuild OR THE DAMAGE CAN NOT BE RESTORED WITHIN ONE HUNDRED TWENTY (120) DAYS OF THE DATE OF CASUALTY, then Lessor or Lessee may terminate this lease and all rent owed up to the time of such damage, destruction or termination shall be paid by Lessee and thenceforth this lease shall cease and come to an end.
