Landlord’s Restoration Obligations. If neither Landlord nor Tenant has the right to terminate this Lease pursuant to the foregoing provisions of Article 21, or if the party or parties that have the right to terminate this Lease do not exercise such right as hereinabove provided, Landlord shall have the property damaged by such Casualty repaired or restored to the condition in all material respects that existed prior to the Casualty at the sole expense of Landlord, but Landlord’s repair obligations shall be limited to the Base Building Work, the Tenant Improvements, the Tenant Alterations (to the extent such Tenant Alterations were made in compliance with the provisions of Article 13.2 hereof or were otherwise expressly consented to by Landlord) and any Expansion Work. Except as provided above, in no event shall Landlord be obligated to replace, repair or restore Tenant’s personal property, furniture, fixtures, equipment or the like (regardless of whether same were paid for with the Improvement Allowance). Tenant, at Tenant’s expense, shall promptly perform all repairs or restoration not required to be done by Landlord and, after Landlord and Tenant, as the case may be, complete the repairs or restoration, Tenant shall promptly re-enter the Demised Premises and commence doing business in accordance with this Lease. An equitable abatement in Rent based on the percentage of Net Rentable Area within the Demised Premises rendered untenantable and the percentage of the Building Parking Facilities rendered unusable, if applicable, shall be allowed from the Damage Date up to and until the date that is (i) thirty (30) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a Casualty that is not substantial or (ii) sixty (60) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a substantial Casualty (Landlord hereby agrees to provide Tenant and its contractors access to the Demised Premises as may reasonably be necessary for Tenant to accomplish its repair obligations hereunder to ensure that it has beneficial occupancy, i.e., open for business, within such time frame, subject to the terms of this Lease and applicable laws, statutes, ordinances, rules and regulations of governmental authorities, subject to the waivers of subrogation set forth in Article 17, and at Tenant’s own risk, expense and responsibility); provided that to the extent that any portion of the Demised Premises is unusable for the purpose for which it was being used prior to the Casualty, then all Rent applicable to such portion shall be abated in full. Landlord’s architect shall deliver a notice to both parties within sixty (60) days after the Damage Date stating the time required to repair and restore the damage caused by any Casualty and if Landlord is obligated hereunder to repair and restore such damage, Landlord shall use its best efforts in good faith to repair and restore such damage within the estimated time period. In the event of loss, damage or destruction described in this Article 21 and, as a consequence, Landlord is required by the operation of this Article 21 to repair the damaged property, the proceeds that are payable under policies of insurance carried by Landlord shall first be applied to repair the damaged property before such proceeds are applied in any other manner including, without limitation, the satisfaction of the debts secured by a mortgage or other lien Subject to a request for confidential treatment, certain portions of this agreement have been intentionally omitted. The omitted portions subject to the confidential treatment request are designated by three asterisks [***]. A complete version of this agreement has been separately filed with the Securities and Exchange Commission. instruments, or interest or penalties imposed thereon. Notwithstanding any provisions of this Lease to the contrary, if Landlord undertakes to repair and restore damage caused by Casualty as required by the provisions of this Article 21.4, and fails to complete such repair and restoration within thirty (30) days after the time period estimated for such repair and restoration in the notice provided by Landlord’s architect, for any reason other than Excusable Delays or a Tenant Delay which adversely affects the construction schedule, Tenant may terminate this Lease by written notice to Landlord given after the date Landlord was obligated to complete such work and before such work is completed.
Appears in 2 contracts
Samples: Deed of Lease Agreement, Deed of Lease Agreement (Newmarket Corp)
Landlord’s Restoration Obligations. If neither Landlord nor Tenant has the right to terminate this Lease pursuant to the foregoing provisions of Article 21, or if the party or parties that have the right to terminate this Lease do not exercise such right as hereinabove provided, Landlord shall have the property damaged by such Casualty repaired or restored to the condition in all material respects that existed prior to the Casualty at the sole expense of Landlord, but Landlord’s repair obligations shall be limited to the Base Building Work, the Tenant Improvements, the Tenant Alterations (to the extent such Tenant Alterations were made in compliance with the provisions of Article 13.2 hereof or were otherwise expressly consented to by Landlord) and any Expansion Work. Except as provided above, in no event shall Landlord be obligated to replace, repair or restore Tenant’s personal property, furniture, fixtures, equipment or the like (regardless of whether same were paid for with the Improvement Allowance). Tenant, at Tenant’s expense, shall promptly perform all repairs or restoration not required to be done by Landlord and, after Landlord and Tenant, as the case may be, complete the repairs or restoration, Tenant shall promptly re-enter the Demised Premises and commence doing business in accordance with this Lease. An equitable abatement in Rent based on the percentage of Net Rentable Area within the Demised Premises rendered untenantable and the percentage of the Building Parking Facilities rendered unusable, if applicable, shall be allowed from the Damage Date up to and until the date that is (i) thirty (30) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a Casualty that is not substantial or (ii) sixty (60) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a substantial Casualty (Landlord hereby agrees to provide Tenant and its contractors access to the Demised Premises as may reasonably be necessary for Tenant to accomplish its repair obligations hereunder to ensure that it has beneficial occupancy, i.e., open for business, within such time frame, subject Subject to the terms of this Lease and applicable lawsSection 15.2, statutesLandlord, ordinanceswith reasonable diligence, rules and regulations of governmental authorities, subject to the waivers of subrogation set forth in Article 17, and at Tenant’s own risk, expense and responsibility); provided that to the extent that any portion of the Demised Premises is unusable for the purpose for which it was being used prior to the Casualty, then all Rent applicable to such portion shall be abated in full. Landlord’s architect shall deliver a notice to both parties within sixty (60) days after the Damage Date stating the time required to repair and restore the damage caused by any Casualty and if Landlord is obligated hereunder to repair and restore such damage, Landlord shall use its best efforts in good faith to repair and restore such damage within (i) the estimated time period. In the event of loss, damage or destruction described in this Article 21 and, as a consequence, Landlord is required by the operation of this Article 21 to repair the damaged property, the proceeds that are payable under policies of insurance carried by Landlord shall first be applied to repair the damaged property before such proceeds are applied in any other manner Premises (including, without limitation, the satisfaction Alterations), (ii) the Building Systems that service the Premises, and (iii) the common elements of the debts secured Building that Tenant uses to gain access to the Premises, in each case to the extent caused by a mortgage fire or other lien Subject casualty. The restoration work to be performed by Landlord shall include, without limitation, any portion of Landlord’s Work that Landlord did not Substantially Complete on the date that the fire or other casualty occurred. Landlord shall commence the performance of such repairs as promptly as reasonably practicable after the occurrence of such fire or other casualty. Landlord shall use commercially reasonable efforts to perform such repairs diligently, in a request for confidential treatmentgood and workmanlike manner, certain and in a manner that minimizes to the extent reasonably practicable interference with Tenant’s use and occupancy of any portion of the Premises that remains tenantable. Landlord shall not be required to restore Tenant’s Property or the Specialty Alterations. Landlord shall not be required to commence such restoration until Tenant gives Landlord the notice described in Section 15.1 hereof (unless Landlord otherwise has received actual notice of the fire or other casualty). Landlord shall not be obligated to restore any Alterations unless (i) Tenant has Substantially Completed the performance thereof, (ii) Tenant has given Landlord notice to the effect that Tenant has Substantially Completed such Alterations, (iii) Tenant has given Landlord notice of the cost incurred by Tenant in performing such Alterations, and (iv) Tenant has maintained records with respect to such Alterations in a form that allows Landlord to make a full insurance recovery therefor under Landlord’s Property Policy. If (x) Tenant, as part of the Initial Alterations, demolishes all or a material part of the interior installation that exists in the Premises on the Commencement Date, and (y) the Premises (including any Alterations) is damaged by fire or other casualty at any time prior to the date that Tenant Substantially Completes the Initial Alterations therein, then Landlord’s obligation to repair the Premises (and any Alterations) shall be limited to (w) the performance of Landlord’s Work (to the extent that the performance of Landlord’s Work remains feasible after such fire or other casualty), (x) the part of the Building Systems serving the Premises on the Commencement Date, but not the distribution portions of such Building Systems located within the Premises, (y) the floor and ceiling slabs of the Premises, and (z) the exterior walls of the Premises, all to substantially the same condition that existed on the Commencement Date. Landlord shall have the right to adapt the restoration of the Premises as contemplated by this agreement have been intentionally omittedSection 15.2 to comply with applicable Requirements that are then in effect. The omitted portions subject Landlord shall not be obligated to restore the Premises as provided in this Section 15.2 to the confidential treatment request are designated by three asterisks [***]. A complete version of this agreement has been separately filed with the Securities and Exchange Commission. instruments, or interest or penalties imposed thereon. Notwithstanding any provisions of extent that this Lease to the contrary, if Landlord undertakes to repair and restore damage caused terminates by Casualty reason of such fire or other casualty as required by the provisions of provided in this Article 21.4, and fails to complete such repair and restoration within thirty (30) days after the time period estimated for such repair and restoration in the notice provided by Landlord’s architect, for any reason other than Excusable Delays or a Tenant Delay which adversely affects the construction schedule, Tenant may terminate this Lease by written notice to Landlord given after the date Landlord was obligated to complete such work and before such work is completed15.
Appears in 2 contracts
Samples: Lease (FriendFinder Networks Inc.), Lease (Riverbed Technology, Inc.)
Landlord’s Restoration Obligations. If neither Landlord nor Tenant has the right to terminate this Lease pursuant to the foregoing provisions of Article 21, or if the party or parties that have the right to terminate this Lease do not exercise such right as hereinabove provided, Landlord shall have the property damaged by such Casualty repaired or restored to the condition in all material respects that existed prior to the Casualty at the sole expense of Landlord, but Landlord’s repair obligations shall be limited to the Base Building Work, the Tenant Improvements, the Tenant Alterations (to the extent such Tenant Alterations were made in compliance with the provisions of Article 13.2 hereof or were otherwise expressly consented to by Landlord) and any Expansion Work. Except as provided above, in no event shall Landlord be obligated to replace, repair or restore Tenant’s personal property, furniture, fixtures, equipment or the like (regardless of whether same were paid for with the Improvement Allowance). Tenant, at Tenant’s expense, shall promptly perform all repairs or restoration not required to be done by Landlord and, after Landlord and Tenant, as the case may be, complete the repairs or restoration, Tenant shall promptly re-enter the Demised Premises and commence doing business in accordance with this Lease. An equitable abatement in Rent based on the percentage of Net Rentable Area within the Demised Premises rendered untenantable and the percentage of the Building Parking Facilities rendered unusable, if applicable, shall be allowed from the Damage Date up to and until the date that is (i) thirty (30) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a Casualty that is not substantial or (ii) sixty (60) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a substantial Casualty (Landlord hereby agrees to provide Tenant and its contractors access to the Demised Premises as may reasonably be necessary for Tenant to accomplish its repair obligations hereunder to ensure that it has beneficial occupancy, i.e., open for business, within such time frame, subject Subject to the terms of this Lease and applicable lawsSection 15.2, statutesLandlord, ordinanceswith reasonable diligence, rules and regulations of governmental authorities, subject to the waivers of subrogation set forth in Article 17, and at Tenant’s own risk, expense and responsibility); provided that to the extent that any portion of the Demised Premises is unusable for the purpose for which it was being used prior to the Casualty, then all Rent applicable to such portion shall be abated in full. Landlord’s architect shall deliver a notice to both parties within sixty (60) days after the Damage Date stating the time required to repair and restore the damage caused by any Casualty and if Landlord is obligated hereunder to repair and restore such damage, Landlord shall use its best efforts in good faith to repair and restore such damage within (i) the estimated time period. In the event of loss, damage or destruction described in this Article 21 and, as a consequence, Landlord is required by the operation of this Article 21 to repair the damaged property, the proceeds that are payable under policies of insurance carried by Landlord shall first be applied to repair the damaged property before such proceeds are applied in any other manner Premises (including, without limitation, the satisfaction Alterations), (ii) the Building Systems that service the Premises, and (iii) the common elements of the debts secured Building that Tenant uses to gain access to the Premises, in each case to the extent caused by a mortgage fire or other lien Subject casualty. The restoration work to be performed by Landlord shall include, without limitation, Landlord’s Work. Landlord shall commence the performance of such repairs as promptly as reasonably practicable after the occurrence of such fire or other casualty. Landlord shall use commercially reasonable efforts to perform such repairs diligently, in a request for confidential treatmentgood and workmanlike manner, certain and in a manner that minimizes to the extent reasonably practicable interference with Tenant’s use and occupancy of any portion of the Premises that remains tenantable. Landlord shall not be required to restore Tenant’s Property or the Specialty Alterations. Landlord shall not be required to commence such restoration until Tenant gives Landlord the notice described in Section 15.1 hereof (unless Landlord otherwise has received actual notice of the fire or other casualty). Landlord shall not be obligated to restore any Alterations performed by Tenant unless (i) Tenant has Substantially Completed the performance thereof, (ii) Tenant has given Landlord notice to the effect that Tenant has Substantially Completed such Alterations, (iii) Tenant has given Landlord notice of the cost incurred by Tenant in performing such Alterations, and (iv) Tenant has maintained records with respect to such Alterations in a form that allows Landlord to make a full insurance recovery therefor under Landlord’s Property Policy. If (x) Tenant, as part of the Initial Alterations, demolishes all or a material part of the interior installation that exists in the Premises on the Commencement Date, and (y) the Premises (including any Alterations) is damaged by fire or other casualty at any time prior to the date that Tenant Substantially Completes the Initial Alterations therein, then Landlord’s obligation to repair the Premises (and any Alterations) shall be limited to (w) the performance of Landlord’s Premises Work (to the extent that the performance of Landlord’s Premises Work remains feasible after such fire or other casualty), (x) the part of the Building Systems serving the Premises on the Commencement Date, but not the distribution portions of such Building Systems located within the Premises, (y) the floor and ceiling slabs of the Premises, and (z) the exterior walls of the Premises, all to substantially the same condition that existed on the Commencement Date. Landlord shall have the right to adapt the restoration of the Premises as contemplated by this agreement have been intentionally omittedSection 15.2 to comply with applicable Requirements that are then in effect. The omitted portions subject Landlord shall not be obligated to restore the Premises as provided in this Section 15.2 to the confidential treatment request are designated by three asterisks [***]. A complete version of this agreement has been separately filed with the Securities and Exchange Commission. instruments, or interest or penalties imposed thereon. Notwithstanding any provisions of extent that this Lease to the contrary, if Landlord undertakes to repair and restore damage caused terminates by Casualty reason of such fire or other casualty as required by the provisions of provided in this Article 21.4, and fails to complete such repair and restoration within thirty (30) days after the time period estimated for such repair and restoration in the notice provided by Landlord’s architect, for any reason other than Excusable Delays or a Tenant Delay which adversely affects the construction schedule, Tenant may terminate this Lease by written notice to Landlord given after the date Landlord was obligated to complete such work and before such work is completed15.
Appears in 1 contract
Samples: Lease (fuboTV Inc. /FL)
Landlord’s Restoration Obligations. Promptly upon the occurrence of any Casualty, Landlord shall require Landlord’s Architect to prepare a written determination for the benefit of Landlord and Tenant of said Architect’s estimation of the time period reasonably required from the Damage Date, in light of all circumstances then known, to complete the restoration of the Premises, said written determination to be made and delivered to Landlord and Tenant as soon as may be practicable under the circumstances and in any event within thirty (30) days after the related Casualty (the “Determination Date”); provided, however, that if Warner, Summers, Ditzel, Benefield, Xxxx & Associates, Inc. or the principal(s) of said firm who designed and are familiar with the plans and specifications for the Building are not available to serve as Landlord’s Architect, the Determination Date shall be thirty (30) days after the date on which Landlord shall have selected, and Tenant shall have approved, another architect to serve as Landlord’s Architect, such selection and approval to be made as promptly as practicable. The period of time estimated by Landlord’s Architect for the completion of repairs to the Premises, as set forth in said written notice from Landlord’s Architect to Landlord and Tenant and as measured from the related Damage Date, is herein referred to as the “Estimated Repair Period.” If neither Landlord nor Tenant has the right to terminate this Lease pursuant to any of the foregoing provisions of Article 21this Section 20, or if the party or parties that have the right to terminate this Lease do not exercise such right as hereinabove herein provided, then, subject to the last sentence of this Section 20.3, Landlord shall have the property damaged by such Casualty repaired or restored to the condition in all material respects that existed prior to the Casualty at the sole expense of the Landlord, but Landlord’s repair obligations shall be limited to the Base Building Work, the Tenant Improvements, the Tenant Alterations (to the extent such Tenant Alterations were made in compliance with the provisions of Article 13.2 hereof or were otherwise expressly consented to by Landlord) and any Expansion Work. Except as provided above, in no event shall Landlord be obligated to replace, repair or restore Tenant’s personal property, furniture, fixtures, equipment or the like (regardless of whether same were paid for with the Improvement Allowance). Tenant, at Tenant’s expense, shall promptly perform all repairs or restoration not required to be done by Landlord and, after Landlord and Tenant, as the case may be, complete the repairs or restoration, Tenant shall promptly re-enter the Demised Premises and commence doing business in accordance with this Lease. An equitable abatement in Rent based on the percentage of Net Rentable Area within the Demised Premises rendered untenantable and the percentage of the Building Parking Facilities rendered unusable, if applicable, shall be allowed from the Damage Date up to and until the date that is (i) thirty (30) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a Casualty that is not substantial or (ii) sixty (60) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a substantial Casualty (Landlord hereby agrees to provide Tenant and its contractors access to the Demised Premises as may reasonably be necessary for Tenant to accomplish its repair obligations hereunder to ensure that it has beneficial occupancy, i.e., open for business, within such time frame, subject to the terms of this Lease and applicable laws, statutes, ordinances, rules and regulations of governmental authorities, subject to the waivers of subrogation set forth in Article 17, and at Tenant’s own risk, expense and responsibility); provided that to the extent that any portion of the Demised Premises is unusable for the purpose for which it was being used prior to the Casualty, then all Rent applicable to such portion shall be abated in full. Landlord’s architect shall deliver a notice to both parties within sixty (60) days after the Damage Date stating the time required to repair and restore the damage caused by any Casualty and if If Landlord is obligated hereunder to repair and restore such damage, Landlord shall use its best all reasonable efforts in good faith to commence and thereafter to prosecute to completion the repair and restore restoration of such damage within as speedily as may be practicable under the estimated time period. In the event of loss, damage or destruction described in this Article 21 and, as a consequence, Landlord is required by the operation of this Article 21 to repair the damaged property, the proceeds that are payable under policies of insurance carried by Landlord shall first be applied to repair the damaged property before such proceeds are applied in any other manner including, without limitation, the satisfaction of the debts secured by a mortgage or other lien Subject to a request for confidential treatment, certain portions of this agreement have been intentionally omitted. The omitted portions subject to the confidential treatment request are designated by three asterisks [***]. A complete version of this agreement has been separately filed with the Securities circumstances and Exchange Commission. instruments, or interest or penalties imposed thereon. Notwithstanding any provisions of this Lease to the contrary, if Landlord undertakes to repair and restore damage caused by Casualty as required by the provisions of this Article 21.4, and fails to complete such repair and restoration within thirty (30) days after the time period estimated Estimated Repair Period. Landlord further agrees to allow Tenant an abatement in the Base Monthly Rental for such repair time as the Premises are untenantable or proportionately for such portion of the Premises as shall be untenantable, and restoration in Tenant covenants and agrees that the notice provided by Landlord’s architect, for any reason other than Excusable Delays or a Tenant Delay which adversely affects the construction schedule, Tenant may terminate terms of this Lease shall not be otherwise affected. In no event shall Landlord be required to repair or replace any trade fixtures, furniture, equipment or other property belonging to Tenant, nor shall Landlord be required to rebuild, repair or replace any part of the partitions, fixtures, additions or other improvements which may have been placed in or about the Premises by written notice to Landlord given after the date Landlord was obligated to complete such work and before such work is completedTenant.
Appears in 1 contract
Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)
Landlord’s Restoration Obligations. If neither Landlord nor Tenant has the right to terminate this Lease pursuant to the foregoing provisions of Article 21, or if the party or parties that have the right to terminate this Lease do not exercise such right as hereinabove provided, Landlord shall have the property damaged by such Casualty repaired or restored to the condition in all material respects that existed prior to the Casualty at the sole expense of Landlord, but Landlord’s repair obligations shall be limited to the Base Building Work, the Tenant Improvements, the Tenant Alterations (to the extent such Tenant Alterations were made in compliance with the provisions of Article 13.2 hereof or were otherwise expressly consented to by Landlord) and any Expansion Work. Except as provided above, in no event shall Landlord be obligated to replace, repair or restore Tenant’s personal property, furniture, fixtures, equipment or the like (regardless of whether same were paid for with the Improvement Allowance). Tenant, at Tenant’s expense, shall promptly perform all repairs or restoration not required to be done by Landlord and, after Landlord and Tenant, as the case may be, complete the repairs or restoration, Tenant shall promptly re-enter the Demised Premises and commence doing business in accordance with this Lease. An equitable abatement in Rent based on the percentage of Net Rentable Area within the Demised Premises rendered untenantable and the percentage of the Building Parking Facilities rendered unusable, if applicable, shall be allowed from the Damage Date up to and until the date that is (i) thirty (30) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a Casualty that is not substantial or (ii) sixty (60) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a substantial Casualty (Landlord hereby agrees to provide Tenant and its contractors access to the Demised Premises as may reasonably be necessary for Tenant to accomplish its repair obligations hereunder to ensure that it has beneficial occupancy, i.e., open for business, within such time frame, subject Subject to the terms of this Lease and applicable lawsSection 15.2, statutesLandlord, ordinanceswith reasonable diligence, rules and regulations of governmental authorities, subject shall repair the damage to the waivers of subrogation set forth in Article 17, and at Tenant’s own risk, expense and responsibility); provided that to the extent that any portion of the Demised Premises is unusable for the purpose for which it was being used prior to the Casualty, then all Rent applicable to such portion shall be abated in full. Landlord’s architect shall deliver a notice to both parties within sixty (60) days after the Damage Date stating the time required to repair and restore the damage caused by any Casualty and if Landlord is obligated hereunder to repair and restore such damage, Landlord shall use its best efforts in good faith to repair and restore such damage within the estimated time period. In the event of loss, damage or destruction described in this Article 21 and, as a consequence, Landlord is required by the operation of this Article 21 to repair the damaged property, the proceeds that are payable under policies of insurance carried by Landlord shall first be applied to repair the damaged property before such proceeds are applied in any other manner including, without limitation, the satisfaction Alterations) to the extent caused by fire or other casualty. The restoration work to be performed by Landlord shall include, without limitation, any portion of Landlord’s Work that Landlord did not Substantially Complete on the date that the fire or other casualty occurred. Landlord shall commence the performance of such repairs as promptly as reasonably practicable after the occurrence of such fire or other casualty. Landlord shall not be required to restore Tenant’s Property or the Specialty Alterations. Landlord shall not be required to commence such restoration until Tenant gives Landlord the notice described in Section 15.1 hereof (unless Landlord otherwise has received actual notice of the debts secured by a mortgage fire or other lien Subject casualty). Landlord shall not be obligated to restore any Alterations unless (i) Tenant has Substantially Completed the performance thereof, (ii) Tenant has given Landlord notice to the effect that Tenant has Substantially Completed such Alterations, (iii) Tenant has given Landlord notice of the cost incurred by Tenant in performing such Alterations, and (iv) Tenant has maintained records with respect to such Alterations in a request for confidential treatmentform that allows Landlord to make a full insurance recovery therefor under Landlord’s Property Policy. If (x) Tenant, certain as part of the Initial Alterations, demolishes all or a material part of the interior installation that exists in the Premises on the Commencement Date, and (y) the Premises (including any Alterations) is damaged by fire or other casualty at any time prior to the date that Tenant Substantially Completes the Initial Alterations therein, then Landlord’s obligation to repair the Premises (and any Alterations) shall be limited to (w) the performance of Landlord’s Work (to the extent that the performance of Landlord’s Work remains feasible after such fire or other casualty), (x) the part of the Building Systems serving the Premises on the Commencement Date, but not the distribution portions of such Building Systems located within the Premises, (y) the floor and ceiling slabs of the Premises, and (z) the exterior walls of the Premises, all to substantially the same condition that existed on the Commencement Date. Landlord shall have the right to adapt the restoration of the Premises as contemplated by this agreement have been intentionally omittedSection 15.2 to comply with applicable Requirements that are then in effect. The omitted portions subject Landlord shall not be obligated to restore the Premises as provided in this Section 15.2 to the confidential treatment request are designated by three asterisks [***]. A complete version of this agreement has been separately filed with the Securities and Exchange Commission. instruments, or interest or penalties imposed thereon. Notwithstanding any provisions of extent that this Lease to the contrary, if Landlord undertakes to repair and restore damage caused terminates by Casualty reason of such fire or other casualty as required by the provisions of provided in this Article 21.4, and fails to complete such repair and restoration within thirty (30) days after the time period estimated for such repair and restoration in the notice provided by Landlord’s architect, for any reason other than Excusable Delays or a Tenant Delay which adversely affects the construction schedule, Tenant may terminate this Lease by written notice to Landlord given after the date Landlord was obligated to complete such work and before such work is completed15.
Appears in 1 contract
Samples: Lease (dELiAs, Inc.)
Landlord’s Restoration Obligations. Promptly upon the occurrence of any Casualty, Landlord shall require Landlord's Architect to prepare a written determination for the benefit of Landlord and Tenant of said Architect's estimation of the time period reasonably required from the Damage Date, in light of all circumstances then known, to complete the restoration of the Premises, said written determination to be made and delivered to Landlord and Tenant as soon as may be practicable under the circumstances and in any event within thirty (30) days after the related Casualty (the "Determination Date"); provided, however, that if Warner, Summers, Ditzel, Benefield, Ward & Associates, Inc. or the principal(s) of said firm who designed xxx are familiar with the plans and specifications for the Building are not available to serve as Landlord's Architect, the Determination Date shall be thirty (30) days after the date on which Landlord shall have selected, and Tenant shall have approved, another architect to serve as Landlord's Architect, such selection and approval to be made as promptly as practicable. The period of time estimated by Landlord's Architect for the completion of repairs to the Premises, as set forth in said written notice from Landlord's Architect to Landlord and Tenant and as measured from the related Damage Date, is herein referred to as the "Estimated Repair Period." If neither Landlord nor Tenant has the right to terminate this Lease pursuant to any of the foregoing provisions of Article 21this Section 20, or if the party or parties that have the right to terminate this Lease do not exercise such right as hereinabove herein provided, then, subject to the last sentence of this Section 20.3, Landlord shall have the property damaged by such Casualty repaired or restored to the condition in all material respects that existed prior to the Casualty at the sole expense of the Landlord, but Landlord’s repair obligations shall be limited to the Base Building Work, the Tenant Improvements, the Tenant Alterations (to the extent such Tenant Alterations were made in compliance with the provisions of Article 13.2 hereof or were otherwise expressly consented to by Landlord) and any Expansion Work. Except as provided above, in no event shall Landlord be obligated to replace, repair or restore Tenant’s personal property, furniture, fixtures, equipment or the like (regardless of whether same were paid for with the Improvement Allowance). Tenant, at Tenant’s expense, shall promptly perform all repairs or restoration not required to be done by Landlord and, after Landlord and Tenant, as the case may be, complete the repairs or restoration, Tenant shall promptly re-enter the Demised Premises and commence doing business in accordance with this Lease. An equitable abatement in Rent based on the percentage of Net Rentable Area within the Demised Premises rendered untenantable and the percentage of the Building Parking Facilities rendered unusable, if applicable, shall be allowed from the Damage Date up to and until the date that is (i) thirty (30) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a Casualty that is not substantial or (ii) sixty (60) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a substantial Casualty (Landlord hereby agrees to provide Tenant and its contractors access to the Demised Premises as may reasonably be necessary for Tenant to accomplish its repair obligations hereunder to ensure that it has beneficial occupancy, i.e., open for business, within such time frame, subject to the terms of this Lease and applicable laws, statutes, ordinances, rules and regulations of governmental authorities, subject to the waivers of subrogation set forth in Article 17, and at Tenant’s own risk, expense and responsibility); provided that to the extent that any portion of the Demised Premises is unusable for the purpose for which it was being used prior to the Casualty, then all Rent applicable to such portion shall be abated in full. Landlord’s architect shall deliver a notice to both parties within sixty (60) days after the Damage Date stating the time required to repair and restore the damage caused by any Casualty and if If Landlord is obligated hereunder to repair and restore such damage, Landlord shall use its best all reasonable efforts in good faith to commence and thereafter to prosecute to completion the repair and restore restoration of such damage within as speedily as may be practicable under the estimated time period. In the event of loss, damage or destruction described in this Article 21 and, as a consequence, Landlord is required by the operation of this Article 21 to repair the damaged property, the proceeds that are payable under policies of insurance carried by Landlord shall first be applied to repair the damaged property before such proceeds are applied in any other manner including, without limitation, the satisfaction of the debts secured by a mortgage or other lien Subject to a request for confidential treatment, certain portions of this agreement have been intentionally omitted. The omitted portions subject to the confidential treatment request are designated by three asterisks [***]. A complete version of this agreement has been separately filed with the Securities circumstances and Exchange Commission. instruments, or interest or penalties imposed thereon. Notwithstanding any provisions of this Lease to the contrary, if Landlord undertakes to repair and restore damage caused by Casualty as required by the provisions of this Article 21.4, and fails to complete such repair and restoration within thirty (30) days after the time period estimated Estimated Repair Period. Landlord further agrees to allow Tenant an abatement in the Base Monthly Rental for such repair time as the Premises are untenantable or proportionately for such portion of the Premises as shall be untenantable, and restoration in Tenant covenants and agrees that the notice provided by Landlord’s architect, for any reason other than Excusable Delays or a Tenant Delay which adversely affects the construction schedule, Tenant may terminate terms of this Lease shall not be otherwise affected. In no event shall Landlord be required to repair or replace any trade fixtures, furniture, equipment or other property belonging to Tenant, nor shall Landlord be required to rebuild, repair or replace any part of the partitions, fixtures, additions or other improvements which may have been placed in or about the Premises by written notice to Landlord given after the date Landlord was obligated to complete such work and before such work is completedTenant.
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Landlord’s Restoration Obligations. If neither Landlord nor Tenant has the right to terminate this Lease pursuant to the foregoing provisions of Article 21, or if the party or parties that have the right to terminate this Lease do not exercise such right as hereinabove provided, Landlord shall have the property damaged by such Casualty repaired or restored to the condition in all material respects that existed prior to the Casualty at the sole expense of Landlord, but Landlord’s repair obligations shall be limited to the Base Building Work, the Tenant Improvements, the Tenant Alterations (to the extent such Tenant Alterations were made in compliance with the provisions of Article 13.2 hereof or were otherwise expressly consented to by Landlord) and any Expansion Work. Except as provided above, in no event shall Landlord be obligated to replace, repair or restore Tenant’s personal property, furniture, fixtures, equipment or the like (regardless of whether same were paid for with the Improvement Allowance). Tenant, at Tenant’s expense, shall promptly perform all repairs or restoration not required to be done by Landlord and, after Landlord and Tenant, as the case may be, complete the repairs or restoration, Tenant shall promptly re-enter the Demised Premises and commence doing business in accordance with this Lease. An equitable abatement in Rent based on the percentage of Net Rentable Area within the Demised Premises rendered untenantable and the percentage of the Building Parking Facilities rendered unusable, if applicable, shall be allowed from the Damage Date up to and until the date that is (i) thirty (30) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a Casualty that is not substantial or (ii) sixty (60) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a substantial Casualty (Landlord hereby agrees to provide Tenant and its contractors access to the Demised Premises as may reasonably be necessary for Tenant to accomplish its repair obligations hereunder to ensure that it has beneficial occupancy, i.e., open for business, within such time frame, subject Subject to the terms of this Lease and applicable lawsSection 15.2, statutesLandlord, ordinanceswith reasonable diligence, rules and regulations of governmental authorities, subject to the waivers of subrogation set forth in Article 17, and at Tenant’s own risk, expense and responsibility); provided that to the extent that any portion of the Demised Premises is unusable for the purpose for which it was being used prior to the Casualty, then all Rent applicable to such portion shall be abated in full. Landlord’s architect shall deliver a notice to both parties within sixty (60) days after the Damage Date stating the time required to repair and restore the damage caused by any Casualty and if Landlord is obligated hereunder to repair and restore such damage(i) the Premises, Landlord shall use its best efforts in good faith to repair and restore such damage within (ii) the estimated time period. In Building Systems that service the event of loss, damage or destruction described in this Article 21 and, as a consequence, Landlord is required by the operation of this Article 21 to repair the damaged property, the proceeds that are payable under policies of insurance carried by Landlord shall first be applied to repair the damaged property before such proceeds are applied in any other manner Premises (including, without limitation, the satisfaction chilled water air handling units exclusively serving the Premises), (iii) the common elements of the debts secured Building that Tenant uses in accordance with the terms hereof and (iv) the structural elements of the Building that are required for Tenant's use and occupancy of the Premises (such as, for example, the foundations, rooftop, core areas and curtain wall), in each case to the extent caused by a mortgage fire or other lien Subject casualty. The restoration work to a request for confidential treatmentbe performed by Landlord shall include, certain without limitation, any portion of Landlord's Work that Landlord did not Substantially Complete on the date that the fire or other casualty occurred (and such portions of this agreement have been intentionally omitted. The omitted portions subject Landlord's Work that Landlord Substantially Completed prior to the confidential treatment request date on which such fire or other casualty occurred to the extent required to be repaired by Landlord pursuant to the immediately preceding sentence). Landlord shall commence the performance of such repairs as promptly as reasonably practicable after the occurrence of such fire or other casualty. Landlord shall use commercially reasonable efforts to perform such repairs diligently, in a good and workmanlike manner, and in a manner that minimizes to the extent reasonably practicable interference with Tenant's use and occupancy of any portion of the Premises that remains tenantable. Landlord shall not be required to restore Tenant's Property or the Alterations. Landlord shall not be required to commence such restoration until Tenant gives Landlord the notice described in Section 15.1 hereof (unless Landlord otherwise has received actual notice of the fire or other casualty). Landlord shall have the right to adapt the restoration of the Premises as contemplated by this Section 15.2 to comply with applicable Requirements that are designated by three asterisks [***]then in effect but shall otherwise restore the Premises to the condition existing prior to the fire or other casualty in all material respects. A complete version of Landlord shall not be obligated to restore the Premises as provided in this agreement has been separately filed with Section 15.2 to the Securities and Exchange Commission. instruments, or interest or penalties imposed thereon. Notwithstanding any provisions of extent that this Lease to the contrary, if Landlord undertakes to repair and restore damage caused terminates by Casualty reason of such fire or other casualty as required by the provisions of provided in this Article 21.4, and fails to complete such repair and restoration within thirty (30) days after the time period estimated for such repair and restoration in the notice provided by Landlord’s architect, for any reason other than Excusable Delays or a Tenant Delay which adversely affects the construction schedule, Tenant may terminate this Lease by written notice to Landlord given after the date Landlord was obligated to complete such work and before such work is completed15.
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Samples: Lease (Clear Secure, Inc.)
Landlord’s Restoration Obligations. Promptly upon the occurrence of any Casualty, Landlord shall require Landlord's Architect to prepare a written determination for the benefit of Landlord and Tenant of said Architect's estimation of the time period reasonably required from the Damage Date, in light of all circumstances then known, to complete the restoration of the Premises, said written determination to be made and delivered to Landlord and Tenant as soon as may be practicable under the circumstances and in any event within thirty (30) days after the related Casualty (the "Determination Date"); provided, however, that if Warner, Summers, Ditzel, Benefield, Ward & Associates, Inc. or the principal(s) of said firm who xxxigned and are familiar with the plans and specifications for the Building are not available to serve as Landlord's Architect, the Determination Date shall be thirty (30) days after the date on which Landlord shall have selected, and Tenant shall have approved, another architect to serve as Landlord's Architect, such selection and approval to be made as promptly as practicable. The period of time estimated by Landlord's Architect for the completion of repairs to the Premises, as set forth in said written notice from Landlord's Architect to Landlord and Tenant and as measured from the related Damage Date, is herein referred to as the "Estimated Repair Period." If neither Landlord nor Tenant has the right to terminate this Lease pursuant to any of the foregoing provisions of Article 21this Section 20, or if the party or parties that have the right to terminate this Lease do not exercise such right as hereinabove herein provided, then, subject to the last sentence of this Section 20.3, Landlord shall have the property damaged by such Casualty repaired or restored to the condition in all material respects that existed prior to the Casualty at the sole expense of the Landlord, but Landlord’s repair obligations shall be limited to the Base Building Work, the Tenant Improvements, the Tenant Alterations (to the extent such Tenant Alterations were made in compliance with the provisions of Article 13.2 hereof or were otherwise expressly consented to by Landlord) and any Expansion Work. Except as provided above, in no event shall Landlord be obligated to replace, repair or restore Tenant’s personal property, furniture, fixtures, equipment or the like (regardless of whether same were paid for with the Improvement Allowance). Tenant, at Tenant’s expense, shall promptly perform all repairs or restoration not required to be done by Landlord and, after Landlord and Tenant, as the case may be, complete the repairs or restoration, Tenant shall promptly re-enter the Demised Premises and commence doing business in accordance with this Lease. An equitable abatement in Rent based on the percentage of Net Rentable Area within the Demised Premises rendered untenantable and the percentage of the Building Parking Facilities rendered unusable, if applicable, shall be allowed from the Damage Date up to and until the date that is (i) thirty (30) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a Casualty that is not substantial or (ii) sixty (60) days after the damage to be repaired or restored by Landlord hereunder has been repaired or restored in all material respects to its condition prior to the Casualty for a substantial Casualty (Landlord hereby agrees to provide Tenant and its contractors access to the Demised Premises as may reasonably be necessary for Tenant to accomplish its repair obligations hereunder to ensure that it has beneficial occupancy, i.e., open for business, within such time frame, subject to the terms of this Lease and applicable laws, statutes, ordinances, rules and regulations of governmental authorities, subject to the waivers of subrogation set forth in Article 17, and at Tenant’s own risk, expense and responsibility); provided that to the extent that any portion of the Demised Premises is unusable for the purpose for which it was being used prior to the Casualty, then all Rent applicable to such portion shall be abated in full. Landlord’s architect shall deliver a notice to both parties within sixty (60) days after the Damage Date stating the time required to repair and restore the damage caused by any Casualty and if If Landlord is obligated hereunder to repair and restore such damage, Landlord shall use its best all reasonable efforts in good faith to commence and thereafter to prosecute to completion the repair and restore restoration of such damage within as speedily as may be practicable under the estimated time period. In the event of loss, damage or destruction described in this Article 21 and, as a consequence, Landlord is required by the operation of this Article 21 to repair the damaged property, the proceeds that are payable under policies of insurance carried by Landlord shall first be applied to repair the damaged property before such proceeds are applied in any other manner including, without limitation, the satisfaction of the debts secured by a mortgage or other lien Subject to a request for confidential treatment, certain portions of this agreement have been intentionally omitted. The omitted portions subject to the confidential treatment request are designated by three asterisks [***]. A complete version of this agreement has been separately filed with the Securities circumstances and Exchange Commission. instruments, or interest or penalties imposed thereon. Notwithstanding any provisions of this Lease to the contrary, if Landlord undertakes to repair and restore damage caused by Casualty as required by the provisions of this Article 21.4, and fails to complete such repair and restoration within thirty (30) days after the time period estimated Estimated Repair Period. Landlord further agrees to allow Tenant an abatement in the Base Monthly Rental for such repair time as the Premises are untenantable or proportionately for such portion of the Premises as shall be untenantable, and restoration in Tenant covenants and agrees that the notice provided by Landlord’s architect, for any reason other than Excusable Delays or a Tenant Delay which adversely affects the construction schedule, Tenant may terminate terms of this Lease shall not be otherwise affected. In no event shall Landlord be required to repair or replace any trade fixtures, furniture, equipment or other property belonging to Tenant, nor shall Landlord be required to rebuild, repair or replace any part of the partitions, fixtures, additions or other improvements which may have been placed in or about the Premises by written notice to Landlord given after the date Landlord was obligated to complete such work and before such work is completedTenant.
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