Common use of Partial Damage Clause in Contracts

Partial Damage. If any Improvements situated on the Leased Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) days from the date Lessor receives written notification by Lessee of the happening of the damage, this Lease shall not terminate, but Lessee shall, at its sole cost, proceed forthwith and use reasonable diligence to rebuild or repair such Improvements on the Leased Premises to substantially the condition in which they existed prior to such damage; provided, however, if the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee shall not be required to rebuild or repair such damage, this Lease shall terminate at the option of Lessee and the Lease Payment shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 2 contracts

Samples: Lease Agreement, www.galvestontx.gov

AutoNDA by SimpleDocs

Partial Damage. If any Improvements situated on the Leased Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) days from the date Lessor receives written notification by Lessee of the happening of the damage, this Lease shall not terminate, but Lessee shall, at its sole cost, proceed forthwith and use reasonable diligence to rebuild or repair such Improvements on the Leased Premises to substantially the condition in which they existed prior to such damage; provided, however, if the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee shall not be required to rebuild or repair such damage, this Lease shall terminate at the option of Lessee and the Lease Payment Rent shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the ths Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment Rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment Rent shall be adjusted equitably. The Lessee’s 's responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 2 contracts

Samples: Sub Lease Agreement (Tactical Air Defense Services, Inc.), Sub Lease Agreement (Tactical Air Defense Services, Inc.)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty casually but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty eighty (120180) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening occurrence of the damage, this Lease shall not terminate, but Lessee shall, at its sole cost, Landlord shall proceed forthwith and use with reasonable diligence to rebuild or repair such Improvements the building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such the damage; provided. Within thirty (30) days after receipt of notice by Tenant, howeverLandlord shall obtain from a third party written verification of the damage and the time required to repair or rebuild, if and provide Tenant with said information. If the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such the damage unless Tenant exercises Tenant's renewal option (if any) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise its renewal option, or if there is no renewal option contained in this Lease, Landlord may, at Landlord's option, terminate this Lease shall terminate at by promptly delivering a written termination notice to Tenant, in which event the option of Lessee and the Lease Payment Rent shall be abated for the unexpired portion of this Leasethe Lease Term, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall damage. To the extent the Demised Premises cannot be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business occupied (in whole or in part part) following such damagethe casualty, the monthly installments of Rent payable under this Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment Demised Premises cannot be fully occupied shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 2 contracts

Samples: Commercial Lease Agreement (Cheap Tickets Inc), Commercial Lease Agreement (Cheap Tickets Inc)

Partial Damage. If any Improvements situated on If, during the Leased Lease Term, the Premises are damaged or destroyed by firefire or other casualty, tornado, or if the Building is damaged or destroyed by fire or other casualty but not and such damage or destruction affects Tenant’s use of the Premises (collectively, ‘Premises Damage”), Landlord shall perform the necessary repairs (other than to such an extent Tenant’s Alterations, trade fixtures, equipment, and personal property, the repair of which Tenant shall be solely responsible), and this Lease shall continue in full force and effect. Provided, however, that rebuilding or Landlord may, at its option. elect to terminate this Lease if (i) Landlord’s repairs cannot reasonably be completed within sixty (60) days after the date of the Premises Damage in accordance with applicable laws and regulations, or (ii) the Replacement Cost (defined below) exceeds six (6) months’ Minimum Monthly Rent, or (iii) Landlord does not receive sufficient insurance proceeds to pay the full Replacement Cost and the shortfall exceeds one (1) month’s Minimum Monthly Rent. As used herein, “Replacement Cost” shall mean the cost to repair or rebuild the Premises, Building or Center (other than Tenant’s Alterations, equipment, trade fixtures, and personal property) at the time of the damage or destruction to their condition existing immediately prior thereto, including without limitation all costs of demolition, debris removal, permits, fees and other governmental requirements, and upgrading the Premises, Building or Center as required by law or other requirements, without deduction for depreciation. Within sixty (60) days after the date Landlord learns of the necessity for repairs as a result of Premises Damage, Landlord shall notify Tenant (“Damage Repair Estimate”) of Landlord’s estimated assessment of the period of time in which the repairs will be completed. If Landlord does not elect to terminate this Lease pursuant to Landlords termination right as provided herein, and the Damage Repair Estimate indicates that repairs cannot be completed within one hundred twenty (120) days from the date Lessor receives written notification by Lessee after being commenced, Tenant may elect, not later than thirty (30) days after Tenant’s receipt of the happening of the damageDamage Repair Estimate, to terminate this Lease shall not terminate, but Lessee shall, at its sole cost, proceed forthwith and use reasonable diligence by written notice to rebuild or repair such Improvements on the Leased Premises to substantially the condition in which they existed prior to such damage; provided, however, if the casualty occurs during the final eighteen (18) months Landlord effective as of the Lease Term, Lessee shall not be required to rebuild or repair such damage, this Lease shall terminate at the option of Lessee and the Lease Payment shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The LesseeTenant’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damagenotice.

Appears in 2 contracts

Samples: Mabvax Therapeutics Holdings, Inc., Mabvax Therapeutics Holdings, Inc.

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening of the damage, this Lease shall not terminate, but Lessee Landlord shall, at its sole costcost and risk, proceed forthwith and use reasonable diligence to rebuild or repair such Improvements building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such damage; provided, however, if the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such damage unless Tenant shall exercise its renewal option (if any is contained herein) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not elect to exercise its renewal option or if there is no renewal option contained herein or previously unexercised at such time, this Lease shall terminate at the option of Lessee Landlord and the Lease Payment Rent shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If the Improvements building and other improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment Rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 2 contracts

Samples: Lease Agreement (Global Election Systems Inc), Lease Agreement (Custom Chrome Inc /De)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty eighty (120180) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening occurrence of the damage, this Lease shall not terminate, but Lessee Landlord shall, at its sole costto the extent of insurance proceeds available for such rebuilding and restoration, proceed forthwith and use with reasonable diligence to rebuild or repair such Improvements the building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such the damage; provided, however, if . If the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such the damage unless Tenant exercises Tenant's renewal option (if any) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise its renewal option, or if there is no remaining renewal option, Landlord may, at Landlord's option, terminate this Lease shall terminate at by promptly delivering a written termination notice to Tenant, in which event the option of Lessee and the Lease Payment Rent shall be abated for the unexpired portion of this Leasethe Lease Term, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall damage. To the extent the Demised Premises cannot be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business occupied (in whole or in part part) following such damagethe casualty, the monthly installments of Rent payable under this Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment Demised Premises cannot be fully occupied shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.be

Appears in 1 contract

Samples: Agreement (Cerprobe Corp)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening of the damage, this Lease shall not terminate, but Lessee Landlord shall, at its sole costcost and risk, proceed forthwith and use reasonable diligence to rebuild or repair such Improvements building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such damage; provided, however, if the casualty occurs during the final eighteen nine (189) months of the Lease Term, Lessee . Landlord shall not be required to rebuild or repair such damage unless Tenant shall exercise its renewal option (if any is contained herein) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not elect to exercise its renewal option or if there is no renewal option contained herein or previously unexercised at such time, this Lease shall terminate at the option of Lessee landlord and the Lease Payment Rent shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If the Improvements building and other improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment Rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Lease Agreement (Craftmade International Inc)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty ninety (12090) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening of the damage, this Lease shall not terminate, but Lessee Landlord shall, at its sole costcost and risk, proceed forthwith and use reasonable diligence to rebuild or repair such Improvements building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such damage; damage within said ninety (90) days, provided, however, if the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such damage unless Tenant shall exercise its renewal option (if any is contained herein) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not elect to exercise its renewal option or if there is no renewal option contained herein or previously unexercised at such time, this Lease shall terminate at the option of Lessee Landlord and the Lease Payment Rent shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If the Improvements building and other improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment Rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost Landlord will give written notice of whether Landlord intends to repair such improvements of or rebuild the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damagewithin forty-five (45) days.

Appears in 1 contract

Samples: Lease Agreement (Network 1 Security Solutions Inc)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Premises are damaged by fire, tornado, tornado or other casualty casualty, but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening occurrence of the damage, then this Lease shall will not terminate, but Lessee shall, at its sole cost, Landlord shall proceed forthwith and use with reasonable diligence to rebuild or repair such Improvements the building and other improvements on the Leased Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Premises) to substantially the condition they were in which they existed prior to such before the damage; provided, however, if . If the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee shall Landlord will not be required to rebuild or repair such the damage unless Tenant exercises Tenant’s renewal option (if any) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise Tenant’s renewal option, or if there is no renewal option in this Lease, Landlord may, at Landlord’s option, terminate this Lease shall terminate at by promptly delivering a written termination notice to Tenant, in which event the option of Lessee and the Lease Payment shall Rent will be abated for the unexpired portion of this Leasethe Term, effective from on the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall damage. To the extent the Premises cannot be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business occupied (in whole or in part following such damagepart) after the casualty, the monthly installments of Rent payable under this Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall Premises cannot be fully occupied will be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Commercial Lease Agreement

Partial Damage. If any Improvements the building or other improvements situated on the Leased Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred and twenty days (120) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening of the damage, this Lease Agreement shall not terminate, but Lessee shall, at its sole cost, Landlord shall proceed forthwith and use reasonable diligence to rebuild or repair such Improvements building and other improvements on the Leased Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Leased Premises) to substantially the same condition in which they existed prior to such damage; provided, however, if . Landlord's obligation under this Section 20.B to use reasonable diligence to rebuild or repair such building and other improvements on the Leased Premises shall not exceed the proceeds received by Landlord from any insurance policy maintained by Landlord or Tenant under this Lease Agreement. If the casualty occurs during the final eighteen eight (18) 8) months of the Lease Term, Lessee shall Landlord may elect not be required to rebuild or repair such HALLIBURTON COMPANY AGREEMENT AND PLAN OF RECAPITALIZATION APPENDIX V-12 damage, this provided the Tenant does not immediately elect to exercise its renewal option, if applicable. This Lease Agreement shall terminate at the option of Lessee upon Landlord's election and the Lease Payment Rent shall be abated for the unexpired remaining unused portion of this LeaseLease Agreement, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If the Improvements building and other improvements are to be rebuilt or repaired and are repairs made which cause the Leased Premises to be untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment Rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Lease Agreement (Halliburton Co)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening of the damage, this Lease shall not terminate, but Lessee Landlord shall, at its sole costcost and risk, proceed forthwith and use reasonable diligence to rebuild or repair such Improvements building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such damage; provided, however, if the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such damage unless Tenant shall exercise its renewal option (if any is contained herein) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not elect to exercise its renewal option or if there is no renewal option contained herein or previously unexercised at such time, this Lease shall terminate at the option of Lessee Landlord and the Lease Payment Rent shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If the Improvements building and other improvements are to be rebuilt or repaired and are arc untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment Rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation Should any such damage cause a materially adverse effect to pay the cost Tenant's business and needed repairs are not started within thirty (30) days and completed within seventy-five (75) days after written notice to repair such improvements of the Leased Premises as set out in Landlord. at Tenant's option, Tenant may terminate this paragraph Lease and all rent shall be limited to insurance proceeds received by Lessee paid as a result abated for the unexpired portion of such damagethis Lease.

Appears in 1 contract

Samples: MCK Communications Inc

Partial Damage. If any Improvements situated on the Leased Premises are damaged by fire, tornado, or other casualty casualty, but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty ninety (12090) days from the date Lessor receives written notification by Lessee of the happening of the damage, this Lease shall not terminate, but Lessee shall, at its sole cost, proceed forthwith and use reasonable diligence to rebuild or repair such Improvements on the Leased Premises to substantially the condition in which they existed prior to such damage; provided, however, that (i) if the casualty occurs during the final eighteen (18) months of the Lease Term, or (ii) if the damage cannot reasonably be repaired within ninety (90) days, Lessee shall not be required to rebuild or repair such damage, this Lease shall terminate at the option of Lessee and the Lease Payment shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor of the written notification of the damage and proceeds of insurance or self-insurance shall be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to to: a) insurance proceeds received by Lessee paid as a result of such damage, or b) the amount of self -insurance provided by the Lessee.

Appears in 1 contract

Samples: Lease Assignment

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening occurrence of the damage, this Lease shall not terminate, but Lessee shall, at its sole cost, Landlord shall proceed forthwith and use with reasonable diligence to rebuild or repair such Improvements the building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such the damage; provided, however, if . If the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such the damage unless Tenant exercises Tenant's renewal option (if any) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise its renewal option, or if there is no renewal option contained in this Lease, Landlord may, at Landlord's option, terminate this Lease shall terminate at by promptly delivering a written termination notice to Tenant, in which event the option of Lessee and the Lease Payment Rent shall be abated for the unexpired portion of this Leasethe Lease Term, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall damage. To the extent the Demised Premises cannot be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business occupied (in whole or in part part) following such damagethe casualty, the monthly installments of Rent payable under this Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment Demised Premises cannot be fully occupied shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Efficient Networks Inc

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty eighty (120180) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening occurrence of the damage, this Lease shall not terminate, but Lessee shall, at its sole cost, Landlord shall proceed forthwith and use with reasonable diligence to rebuild or repair such Improvements the building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such the damage; provided, however, if . If the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such the damage unless Tenant exercises Tenant's renewal option (if any) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise its renewal option, or if there is no renewal option contained in this Lease, Landlord may, at Landlord's option, terminate this Lease shall terminate at by promptly delivering a written termination notice to Tenant, in which event the option of Lessee and the Lease Payment Rent shall be abated for the unexpired portion of this Leasethe Lease Term, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall damage. To the extent the Demised Premises cannot be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business occupied (in whole or in part part) following such damagethe casualty, the monthly installments of Rent payable under this Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment Demised Premises cannot be fully occupied shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Commercial Lease Agreement (Precis Smart Card Systems Inc)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening occurrence of the damage, this Lease shall not terminate, but Lessee shall, at its sole cost, Landlord shall proceed forthwith and use with reasonable diligence to rebuild or repair such Improvements the building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such the damage; provided, however, if . If the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such the damage unless Tenant exercises Tenant's renewal option (if any) within fifteen (15) days after the receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise its renewal option, or if there is no renewal option contained in this Lease, Landlord may, at Landlord's option, terminate this Lease shall terminate at by promptly delivering a written termination notice to Tenant, in which event the option of Lessee and the Lease Payment Rent shall be abated for the unexpired portion of this Leasethe Lease Term, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall damage. To the extent the Demised Premises cannot be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business occupied (in whole or in part part) following such damagethe casualty, the monthly installments of Rent payable under this Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment Demised Premises cannot be fully occupied shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Lease Agreement (Speed Release Lock Co)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty casualty, but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty eighty (120180) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening occurrence of the damage, this Lease shall not terminate, but Lessee Landlord shall, at its sole costto the extent of insurance proceeds available for such rebuilding and restoration, proceed forthwith and use with reasonable diligence to rebuild or repair such Improvements the building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such the damage; provided, however, if . If the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such the damage unless Tenant exercises Tenant's renewal option (if any) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise its renewal option, or if there is no remaining renewal option, Landlord may, at Landlord's option, terminate this Lease shall terminate at by promptly delivering a written termination notice to Tenant, in which event the option of Lessee and the Lease Payment Rent shall be abated for the unexpired portion of this Leasethe Lease Term, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall damage. To the extent the Demised Premises cannot be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business occupied (in whole or in part part) following such damagethe casualty, the monthly installments of Rent payable under this Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment Demised Premises cannot be fully occupied shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.be

Appears in 1 contract

Samples: Lease Agreement (Cerprobe Corp)

Partial Damage. If any Improvements situated on the Leased Demised Premises are should be damaged by fire, tornado, flood or other casualty casualty, but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) days from days, Lessor, at Lessor's expense, shall cause the date Lessor receives written notification by Lessee of the happening of damage to be repaired to a condition as nearly as practicable to that existing prior to the damage, this Lease with reasonable speed and diligence. Lessor shall not terminate, but Lessee shall, at its sole cost, proceed forthwith and use reasonable diligence be obligated to restore or rebuild or repair such Improvements the Demised Premises to a condition in excess of that in existence on the Leased commencement date of the term hereof, nor in any event to repair, restore or rebuild any of the additions or alterations made by Lessee. If any Mortgagee of the Demised Premises to substantially shall not permit the condition in which they existed prior to such damage; providedapplication of adequate insurance proceeds for repair or restoration of the Demised Premises, however, or if the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee shall not be required to rebuild or repair such damagea type insured against under the standard fire policy with extended coverage, then this Lease shall terminate Lease, at the option of Lessee and the Lease Payment Lessor, shall be abated for terminated with the unexpired portion of this Leaserent to be adjusted to a mutually acceptable date, effective from the date of actual receipt by Lessor of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appearshall thereupon promptly vacate the Demised Premises. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitablyTHIS EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damageREDACTED MATERIAL IS BRACKETED AND HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

Appears in 1 contract

Samples: Aquapenn Spring Water Company Inc

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty casualty, but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening occurrence of the damage, this Lease shall not terminate, but Lessee shall, at its sole cost, Landlord shall proceed forthwith and use with reasonable diligence to rebuild or repair such Improvements the building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such the damage; provided, however, if . If the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such the damage unless Tenant exercises Tenant's renewal option (if any) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise its renewal option, or if there is no renewal option contained in this Lease, Landlord may, at Landlord's option, terminate this Lease shall terminate at by promptly delivering a written termination notice to Tenant, in which event the option of Lessee and the Lease Payment Rent shall be abated for the unexpired portion of this Leasethe Lease Term, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall damage. To the extent the Demised Premises cannot be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business occupied (in whole or in part part) following such damagethe casualty, the monthly installments of Rent payable under this Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment Demised Premises cannot be fully occupied shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Ace Hardware Corp

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be by completed within one hundred twenty (120) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening occurrence of the damage, this Lease shall not terminate, but Lessee shall, at its sole cost, Landlord shall proceed forthwith and use with reasonable diligence to rebuild or repair such Improvements the building and other improvements on the Leased Demised Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to the damage and complete such damage; provided, however, if repairs within 120 days following the date of such casualty. If the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such the damage unless Tenant exercises Tenant's renewal option (if any) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise its renewal option, or days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise its renewal option, or if there is no renewal option contained in this Lease, Landlord may, at Landlord's option, terminate this Lease shall terminate at by promptly delivering a written termination notice to Tenant, in which event the option of Lessee and the Lease Payment Rent shall be abated for the unexpired portion of this Leasethe Lease Term, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If To the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for extent the conduct of the Lessee's business Demised Premises cannot by occupied (in whole or in part part) following such damagethe casualty, the monthly installments of Rent payable under this Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment Demised Premises cannot by fully occupied shall be by adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Commercial Lease Agreement (Performance Printing Corp)

AutoNDA by SimpleDocs

Partial Damage. If any Improvements the building or other improvements situated on the --------------- Leased Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred and twenty days (120) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening of the damage, this Lease Agreement shall not terminate, but Lessee shall, at its sole cost, Landlord shall proceed forthwith and use reasonable diligence to rebuild or repair such Improvements building and other improvements on the Leased Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Leased Premises) to substantially the same condition in which they existed prior to such damage; provided, however, if . Landlord's obligation under this Section 20.B to use reasonable diligence to rebuild or repair such building and other improvements on the Leased Premises shall not exceed the proceeds received by Landlord from any insurance policy maintained by Landlord or Tenant under this Lease Agreement. If the casualty occurs during the final eighteen eight (18) 8) months of the Lease Term, Lessee shall Landlord may elect not be required to rebuild or repair such Halliburton Company Agreement and Plan of Recapitalization Appendix V-12 damage, this provided the Tenant does not immediately elect to exercise its renewal option, if applicable. This Lease Agreement shall terminate at the option of Lessee upon Landlord's election and the Lease Payment Rent shall be abated for the unexpired remaining unused portion of this LeaseLease Agreement, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If the Improvements building and other improvements are to be rebuilt or repaired and are repairs made which cause the Leased Premises to be untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment Rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Lease Agreement (Halliburton Co)

Partial Damage. If any Improvements situated In the event improvements on the Leased Premises are damaged by fireany casualty which is covered under an insurance policy required to be maintained pursuant to the preceding Section, tornado, or other casualty but not to then Landlord shall repair such an extent that rebuilding or repairs cannot damage as soon as reasonably be completed within one hundred twenty (120) days from the date Lessor receives written notification by Lessee of the happening of the damage, possible and this Lease shall not terminate, but Lessee shall, at its sole cost, proceed forthwith continue in full force and use reasonable diligence to rebuild or repair such Improvements effect. In the event the improvements on the Leased Premises are damaged by any casualty not covered under an insurance policy required to substantially be maintained pursuant to the condition preceding section, then Landlord may, at Landlord’s option, either (a) repair such damage as soon as reasonably possible at Landlord’s expense, in which they existed prior event this Lease shall continue in full force and effect, or (b) give written notice to Tenant, within sixty (60) days after the date of occurrence of such damage, of Landlord’s intention to cancel and terminate this lease as of the date of the occurrence of the damage; provided, however, that if such damage is caused by an act or omission to act of Tenant, its agents, employees, contractors, licensees, customers, or invitees, then Tenant shall repair such damage promptly at its sole cost and expense. In the casualty occurs during event Landlord elects to terminate this Lease pursuant hereto. Tenant shall have the final eighteen right within ten (1810) months days after receipt of the required notice to notify Landlord in writing of Tenant’s intention to repair such damage at Tenant’s expense, without reimbursement from Landlord, in which event this Lease Termshall continue in full force and effect and Tenant shall proceed to make such repairs as soon as reasonably possible. If Tenant does not give such notice within the ten (10) day period, Lessee this Lease shall be canceled and terminated as of the date of the occurrence of such damage. Landlord shall not be required to rebuild repair any injury or repair such damagedamage by fire or other cause, this Lease shall terminate or to make any restoration or replacement of any paneling, decorations, office fixtures, partitions, railings, ceilings, floor covering, equipment, machinery, or fixtures or any other improvements or property installed in the Leased Premises by Tenant or at the option direct or indirect expense of Lessee and the Lease Payment Tenant. Tenant shall be abated for required to restore or replace same in the unexpired portion event of this Lease, effective from damage. Tenant’s remedies in the date event of actual receipt by Lessor of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements destruction of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damageprovided in the following subsections.

Appears in 1 contract

Samples: Industrial Lease (Sunpower Corp)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Demised Premises are damaged by fire, tornado, or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one two hundred twenty ten (120210) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening of the damage, this Lease shall not terminate, but Lessee Landlord shall, at its sole costcost and risk, proceed forthwith and use reasonable diligence to rebuild or repair such Improvements building and other improvements on the Leased Premises Demised (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such damagedamage within such two hundred ten (210) day period; provided, however, if the casualty casually occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such damage unless Tenant shall exercise its renewal option (if any is contained herein) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not elect to exercise its renewal option or if there is no renewal option contained herein or previously unexercised at such time, this Lease shall terminate at the option of Lessee Landlord and the Lease Payment Rent shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If the Improvements building and other improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment Base Rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair abated unless such improvements of the Leased Premises as set out untenantable condition is cause by Tenant, in this paragraph which case there shall be limited to insurance proceeds received by Lessee paid as a result of such damageno abatement.

Appears in 1 contract

Samples: Ilex Oncology Inc

Partial Damage. In the event the Demised Premises sustains damage from herein said events (excluding damage caused by Tenant or by any Tenant Parties) and the Demised Premises is unsafe to occupy or unable to serve the day to day requirements of the Tenant, and cannot reasonably be repaired within 120 days after the date of damage, Tenant may at its discretion terminate this Lease by written notice to Landlord within 30 days after the date of damage in order to relocate into property which can service the day to day needs of the Tenant. If any Improvements the Building or other improvements situated on the Leased Premises Property are damaged by fire, tornado, tornado or other casualty casualty, each a “Casualty”, but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening occurrence of the damage, this Lease shall not terminate, but Lessee shall, at its sole cost, Landlord shall proceed forthwith and use with reasonable diligence to rebuild or repair such Improvements the Building and other improvements on the Leased Premises Property (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Demised Premises) to substantially the condition in which they existed prior to such the damage; provided, however, if . If the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such the damage unless Tenant exercises Tenant’s renewal option (if any) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise its renewal option or if there is no renewal option contained in this Lease, Landlord may, at Landlord’s option, terminate this Lease shall terminate at by promptly delivering a written termination notice to Tenant in which event the option of Lessee and the Lease Payment Rent shall be abated for the unexpired portion of this Leasethe Lease Term, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall damage. To the extent the Demised Premises cannot be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business occupied (in whole or in part part) following such damagethe casualty, the monthly installments of Rent payable under this Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment Demised Premises cannot be fully occupied shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Commercial Lease Agreement (Oryon Technologies, Inc.)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Premises are property should be damaged by fire, tornado, tornado or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) 120 days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening of the damage, this Lease lease shall not terminate, but Lessee Landlord shall, at its sole costcost and risk, proceed forthwith and use reasonable diligence to rebuild or repair such Improvements building and other improvements on the Leased Premises property (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the property) to substantially the condition in which they existed prior to such damage; provided, however, if the casualty occurs during the final eighteen (18) 18 months of the Lease Termlease term, Lessee Landlord shall not be required to rebuild or repair such damage unless Tenant shall exercise its renewal option (if any is contained herein) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not elect to exercise its renewal option or if there is no renewal option contained herein or previously unexercised at such time, this Lease lease shall terminate at the option of Lessee Landlord and the Lease Payment rent shall be abated for the unexpired portion of this Leaselease, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If the Improvements building and other improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Lease Agreement (Pharmaceutical Laboratories Inc)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Premises are Property should be damaged by fire, tornado, tornado or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) 120 days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening of the damage, this Lease shall not terminate, but Lessee Landlord shall, at its sole costcost and risk, proceed forthwith and use reasonable diligence to rebuild or repair such Improvements building and other improvements on the Leased Premises Property (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Property) to substantially the condition in which they existed prior to such damage; provided, however, if the casualty occurs during the final eighteen (18) 18 months of the Lease Term, Lessee . Landlord shall not be required to rebuild or repair such damage unless Tenant shall exercise its renewal option (if any is contained herein) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not elect to exercise its renewal option or if there is no renewal option contained herein or previously unexercised at such time, this Lease shall terminate at the option of Lessee Landlord and the Lease Payment rent shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If the Improvements building and other improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Lease Agreement (Usaradio Com Inc)

Partial Damage. If any Improvements the Building or other improvements situated on the Leased Premises Property are damaged by fire, tornado, tornado or other casualty casualty, but not to such an extent that rebuilding or repairs cannot reasonably be completed within one two hundred twenty seventy (120270) days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening occurrence of the damagedamage (as reasonably determined by Landlord), then this Lease shall will not terminate, but Lessee shall, at its sole cost, Landlord shall proceed forthwith and use with reasonable diligence to rebuild or repair such Improvements the Building and other improvements on the Leased Premises (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Premises) to substantially the condition they were in which they existed prior to such before the damage; provided, provided however, in no event shall Landlord be obligated to expend more than the insurance proceeds actually received by Landlord, plus the amount of any deductible which shall be paid by Tenant to Landlord, if required. In no event shall Landlord be required to begin any restoration until it receives the insurance proceeds and the deductible from Tenant. If the casualty occurs during the final eighteen twelve (1812) months of the Lease Term, Lessee shall Landlord will not be required to rebuild or repair such the damage unless Tenant exercises Tenant's renewal option (if any) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not exercise Tenant's renewal option, or if there is no renewal option in this Lease, Landlord nmy, at Landlord's option, terminate this Lease shall terminate at by promptly delivering a written termination notice to Tenant, in which event the option of Lessee and the Lease Payment shall Rent will be abated for the unexpired portion of this Leasethe Term, effective from on the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall damage. To the extent the Premises cannot be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business occupied (in whole or in part following such damagepart) after the casualty, the monthly installments of Rent payable under this Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall Premises cannot be folly occupied will be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Commercial Lease Agreement (Rich Uncles NNN REIT, Inc.)

Partial Damage. If any Improvements situated In the event improvements on the Leased Premises are damaged by fireany casualty which is covered under an insurance policy required to be maintained pursuant to Article 15.2, tornadothen Landlord shall repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. In the event the improvements on the Premises are damaged by any casualty not covered under an insurance policy required to be maintained pursuant to Article 15.2, then Landlord may, at Landlord’s option, either (a) repair such damage as soon as reasonably possible at Landlord’s expense, in which event this Lease shall continue in full force and effect, or other casualty but not (b) give written notice to such an extent that rebuilding or repairs cannot reasonably be completed Tenant within one hundred twenty thirty (12030) days from after the date Lessor receives written notification by Lessee of occurrence of such damage of landlord’s intention to cancel and terminate this Lease as of the happening date of the occurrence of the damage. In the event Landlord elects to terminate this lease pursuant hereto, Tenant shall have the right within ten (10) days after receipt of the required notice to notify Landlord in writing of Tenant’s intention to repair such damage at Tenant’s expense, without reimbursement from Landlord, in which event this Lease shall continue in full force and effect and Tenant shall proceed to make such repairs as soon as reasonably possible. If Tenant does not give such notice within the ten (10) day period, this Lease shall not terminate, but Lessee shall, at its sole cost, proceed forthwith be canceled and use reasonable diligence to rebuild or repair such Improvements on terminated as of the Leased Premises to substantially date of the condition in which they existed prior to occurrence of such damage; provided, however, if the casualty occurs during the final eighteen (18) months of the Lease Term, Lessee . Landlord shall not be required to rebuild repair any injury or repair such damagedamage by fire or other cause, this Lease shall terminate or to make any restoration or replacement of any paneling, decorations, office fixtures, partitions, railings, ceilings, floor covering, equipment, machinery, or fixtures or any other improvements or property installed in the Premises by Tenant or at the option direct or indirect expense of Lessee and Tenant. Tenant at his discretion may restore or replace same in the Lease Payment shall be abated for the unexpired portion event of this Lease, effective from the date of actual receipt by Lessor of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Sunpower Corp

Partial Damage. If any Improvements situated on the Leased Premises, or so much of the Building as to cause the Premises to be uninhabitable, are damaged by fire, tornado, any fire or other casualty but not to such an extent that rebuilding covered under Lessor’s insurance, and the damage (exclusive of any property or repairs cannot reasonably improvements installed by the Lessee in the Premises) can be completed repaired within one hundred twenty ninety (12090) days from without the date payment of overtime, the Lessor receives written notification by Lessee shall, at the Lessor’s expense, promptly commence to repair such damage (exclusive of any property of the happening Lessee or improvements installed by the Lessee in the Premises) following Lessor’s receipt of all permits and insurance proceeds and diligently prosecute the damagesame to completion, and this Lease shall continue in full force and effect. If the Premises, or so much of the Building as to cause the Premises to be uninhabitable, are damaged by any casualty not terminatecovered by Lessor’s insurance, but or the damage (exclusive of any property of the Lessee or improvements installed by the Lessee in the Premises) cannot be repaired within ninety (90) days without the payment of overtime or other premiums, the Lessor may, at the Lessor’s option, either (i) repair such damage as soon as practicable at the Lessor’s expense, in which event this Lease shall continue in full force and effect, or (i) give written notice to Lessee within thirty (30) days after the date of the occurrence of such damage of the Lessor’s intention to terminate this Lease, in which event this Lease shall terminate as of the date of the occurrence of such damage. Lessor shall give written notice to Lessee within thirty (30) days after the date of the occurrence of such damage of whether or not Lessor elects to repair the Premises or terminate this Lease pursuant to this Section, together with a copy (“Lessor’s Contractor’s Notice”) of Lessor’s contractor’s estimate of the number of days required to repair the Premises (exclusive of any property or improvements installed by the Lessee in the Premises). If the Lessor’s contractor estimates that the Premises cannot be repaired within ninety (90) days without the payment of overtime or other premiums and Lessor elects to terminate the Lease pursuant to this Section 8.1, Lessee may nullify Lessor’s election to terminate the Lessee if Lessee delivers written notice to Lessor within fifteen (15) after Lessor’s notice that Lessee elects, at its sole cost and expense, to repair the Premises in which event (i) Lessee shall, at its sole cost, proceed forthwith repair the Premises, and use reasonable diligence Lessor pay any insurance proceeds received from Lessor’s insurance carrier applicable to rebuild or repair such Improvements on the Leased Premises to substantially Lessee’s contractor for work completed in repairing the condition in which they existed prior Premises, subject to such damage; providedLessor’s receipt of lien releases from Lessee’s contractor and its subcontractors and suppliers for all work completed, however(ii) Lessee shall, if at its sole cost and expense, obtain all permits required for repairing the casualty occurs during the final eighteen Premises, (18iii) months of the Lease Term, Lessee shall not be required promptly commence to rebuild or repair the Premises following the receipt of all permits and diligently prosecute such damagework to completion within the number of days set forth in Lessor’s Contractor’s Notice, and (iv) this Lease shall terminate at remain in full force and effect. Notwithstanding the option of foregoing, if Lessee delivers notice to Lessor that it elects to repair the Premises and keep the Lease Payment shall be abated for the unexpired portion of in effect pursuant to this LeaseSection, effective from the date of actual receipt by Lessor of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appear. If the Improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost elect to repair such the Premises (exclusive of any property or improvements installed by the Lessee in the Premises), in lieu of the Leased Premises as set out in this paragraph shall be limited Lessee, upon written notice to insurance proceeds received by Lessee paid as a result of such damageLessee.

Appears in 1 contract

Samples: Lease (Inamed Corp)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Premises are Property should be damaged by fire, tornado, tornado or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) 120 days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening of the damage, this Lease shall not terminate, but Lessee Landlord shall, at its sole cost, cost and risk. proceed forthwith and use reasonable diligence to rebuild or repair such Improvements building and other improvements on the Leased Premises Property (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Property) to substantially the condition in which they existed prior to such damage; : provided, . however, if the casualty occurs during the final eighteen (18) 18 months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such damage unless Tenant shall exercise its renewal option (if any is contained herein) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not elect to exercise its renewal option or if there is no renewal option contained herein or previously unexercised at such time, this Lease shall terminate at the option of Lessee Landlord and the Lease Payment rent shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If the Improvements building and other improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Renewal of Lease Agreement (Argyle Security, Inc.)

Partial Damage. If any Improvements the building or other improvements situated on the Leased Premises are Property should be damaged by fire, tornado, tornado or other casualty but not to such an extent that rebuilding or repairs cannot reasonably be completed within one hundred twenty (120) 120 days from the date Lessor Landlord receives written notification by Lessee Tenant of the happening of the damage, this Lease shall not terminate, but Lessee Landlord shall, at its sole costcost and risk, proceed forthwith and use reasonable diligence to rebuild or repair such Improvements building and other improvements on the Leased Premises Property (other than leasehold improvements made by Tenant or any assignee, subtenant or other occupant of the Property) to substantially the condition in which they existed prior to such damage; provided, however, if the casualty occurs during the final eighteen (18) 18 months of the Lease Term, Lessee Landlord shall not be required to rebuild or repair such damage unless Tenant shall exercise its renewal option (if any is contained herein) within fifteen (15) days after the date of receipt by Landlord of the notification of the occurrence of the damage. If Tenant does not elect to exercise its renewal option or if there is no renewal option contained herein or previously unexercised at such time, this Lease shall terminate at the option of Lessee the Landlord and the Lease Payment rent shall be abated for the unexpired portion of this Lease, effective from the date of actual receipt by Lessor Landlord of the written notification of the damage and proceeds of insurance shall be allocated between Lessor and Lessee as their interests may appeardamage. If the Improvements building and other improvements are to be rebuilt or repaired and are untenantable or unsuitable for the conduct of the Lessee's business in whole or in part following such damage, the monthly installments of Lease Payment rent payable hereunder during the period in which they are so untenantable or unsuitable for the conduct of the Lessee's business the monthly installments of Lease Payment shall be adjusted equitably. The Lessee’s responsibility or obligation to pay the cost to repair such improvements of the Leased Premises as set out in this paragraph shall be limited to insurance proceeds received by Lessee paid as a result of such damage.

Appears in 1 contract

Samples: Lease Agreement (Intellisys Group Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.