Common use of Partial Damage - Insured Clause in Contracts

Partial Damage - Insured. If the Premises or the Building are damaged by any casualty which is covered under the “All-Risk” insurance carried by Landlord pursuant to Paragraph 23.C., then Landlord shall restore the damage, provided insurance proceeds are available to pay the full cost of restoration and provided such restoration can be completed within one hundred eighty (180) days after the commencement of the work in the reasonable opinion of Landlord. In such event this Lease shall continue in full force and effect, except that Tenant shall be entitled to a proportionate reduction of Monthly Rent while such restoration for which Landlord is obligated hereunder takes place, such proportionate reduction to be based upon the extent to which the damage and restoration efforts interfere with Tenant’s use of the Premises.

Appears in 3 contracts

Samples: Office Lease Agreement, Office Lease Agreement (Geron Corp), Office Lease Agreement (Geron Corp)

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Partial Damage - Insured. If the Premises or the Building are damaged by any casualty which is a risk covered under the “All-Risk” fire and extended coverage insurance carried by Landlord pursuant to Paragraph 23.C.insuring Landlord, then Landlord shall restore the damage, such damage provided insurance proceeds are available to Landlord to pay ninety percent (90%) or more of the full cost of restoration restoration, and provided such restoration by Landlord can be completed within one hundred eighty eight (180) days 8) months after the commencement of the work in the reasonable opinion of a licensed architect or engineer appointed by Landlord. In such event this Lease shall continue in full force and effect, except that Tenant shall shall, so long as the damage is not due to the act or omission of Tenant, be entitled to a proportionate an equitable reduction of Monthly Base Rent and Tenant's Share of Excess Building Operating Costs while such restoration for which Landlord is obligated hereunder takes place, such proportionate reduction to be based upon the extent to which the damage and or restoration efforts materially interfere with Tenant’s 's use of the Premises.

Appears in 3 contracts

Samples: Office Lease (U S Wireless Data Inc), Expansion Agreement (Geac Computer Corp LTD), 1 (Extensity Inc)

Partial Damage - Insured. If the Premises or the Building are damaged by any casualty which is covered under the “All-Risk” insurance carried by Landlord pursuant to Paragraph 23.C., then Landlord shall restore the damage, provided insurance proceeds are available to pay the full cost of restoration and provided such restoration can be completed within one hundred eighty twenty (180120) days after the commencement of the work in the reasonable opinion of Landlord. In such event this Lease shall continue in full force and effect, except that Tenant shall be entitled to a proportionate reduction of Monthly Rent while such restoration for which Landlord is obligated hereunder takes place, such proportionate reduction to be based upon the extent to which the damage and restoration efforts interfere with Tenant’s use of the Premises.

Appears in 1 contract

Samples: Office Lease Agreement (Spatializer Audio Laboratories Inc)

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Partial Damage - Insured. If the Premises or the Building are damaged by any casualty which is covered under the “All-RiskAll‑Risk” insurance carried by Landlord pursuant to Paragraph 23.C., then Landlord shall restore the damage, provided insurance proceeds are available to pay the full cost of restoration and provided such restoration can be completed within one hundred eighty (180) days after the commencement of the work in the reasonable opinion of Landlord. In such event this Lease shall continue in full force and effect, except that Tenant shall be entitled to a proportionate reduction of Monthly Rent while such restoration for which Landlord is obligated hereunder takes place, such proportionate reduction to be based upon the extent to which the damage and restoration efforts interfere with Tenant’s use of the Premises.

Appears in 1 contract

Samples: Office Lease Agreement (Corcept Therapeutics Inc)

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