Partial Damage - Insured. If the Premises, Building or Common Area are damaged by a risk covered under fire and extended coverage insurance protecting Landlord, then Landlord shall restore such damage provided insurance proceeds are available to Landlord to pay eighty percent (80%) or more of the cost of restoration, and provided such restoration by Landlord can be completed within six (6) months after the commencement of work, in the opinion of a registered architect or engineer appointed by Landlord. In such event this Lease shall continue in full force and effect so long as the Premises can be used by Tenant, except that Tenant shall, so long as the damage is not due to the act or omission of Tenant, be entitled to an equitable reduction of Rent and Expenses while such restoration takes place, such reduction to be based upon the extent to which the damage and the restoration efforts directly and materially interfere with Tenant's use of the Premises.
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Sources: Office Lease (Trimark Holdings Inc), Office Lease (Isocor)
Partial Damage - Insured. If the Premises, Building or Common Area are damaged by a risk covered under fire and extended coverage insurance protecting Landlord, then Landlord shall restore such damage provided insurance proceeds are available to Landlord to pay eighty percent (80%) or more of the cost of restoration, and provided such restoration by Landlord can be completed within six (6) months after the commencement of work, in the opinion of a registered architect or engineer appointed by Landlord. In such event this Lease shall continue in full force and effect so long as the Premises can be used by Tenant, except that Tenant shall, so long as the damage is not due to the act or omission of Tenant, be entitled to an equitable reduction of Rent and Expenses while such restoration takes place, such reduction to be based upon the extent to which the damage and the restoration efforts directly and materially interfere with Tenant's use Use of the Premises. Landlord shall provide Tenant written notice within sixty (60) days following the date of such damage setting forth the amount of time required to repair such damage.
Appears in 1 contract
Sources: Office Lease (Doubletwist Inc)
Partial Damage - Insured. If the Premises, Premises or the Building or Common Area are damaged by a risk covered under fire and extended coverage insurance protecting insuring Landlord, 25 EXHIBIT 10.1 then Landlord shall restore such damage provided insurance proceeds are available to Landlord to pay eighty percent (80%) or more of the cost of restoration, and provided such restoration by Landlord can be completed within six eight (6) 8) months after the commencement of work, work in the opinion of a registered licensed architect or engineer appointed by Landlord. In such event this Lease shall continue in full force and effect so long as the Premises can be used by Tenanteffect, except that Tenant shall, so long as the damage is not due to the act or omission of Tenant, be entitled to an equitable reduction of Base Rent and Expenses Tenant's Share of Building Operating Costs while such restoration takes place, such reduction to be based upon the extent to which the damage and the or restoration efforts directly and materially interfere with Tenant's use of the Premises.
Appears in 1 contract
Sources: Office Lease
Partial Damage - Insured. If the Premises, Premises or the Building or Common Area are damaged by a risk covered under fire and extended coverage insurance protecting insuring Landlord, then Landlord shall restore such damage provided insurance proceeds are available to Landlord to pay eighty ninety percent (8090%) or more of the cost of restoration, and provided such restoration by Landlord can be completed within six eight (6) 8) months after the commencement of work, work in the opinion of a registered licensed architect or engineer appointed by Landlord. In 1n such event this Lease shall continue in full force and effect so long as the Premises can be used by Tenanteffect, except that Tenant shall, so long as the damage is not due to the act or omission of Tenant, be entitled to an equitable reduction of Bass Rent and Expenses Tenant's Share of Increased Operating Costs while such restoration takes place, such reduction to be based upon the extent to which the damage and the or restoration efforts directly and materially interfere with Tenant▇▇▇▇▇▇'s use of the Premises.
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