Common use of Total or Partial Destruction Clause in Contracts

Total or Partial Destruction. It the Leased Premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, and the rent and other charges shall not be abated. If, by reason of such occurrence, the premises shall be rendered untenable only in part, Landlord shall at its own expense cause the damage, except to Tenants equipment and trade fixtures, to be repaired, but only to the extent of Landlord's original obligation to construct pursuant to Section 3.01, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the premises rendered untenable; provided however, If such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term). Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, If the premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored in the entire Leased Premises.

Appears in 2 contracts

Samples: Center Lease (Etravelserve Com Inc), Center Lease (Etravelserve Com Inc)

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Total or Partial Destruction. It the Leased Premises If VIA MIZNXX XXXANCIAL PLAZA shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable untenantable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of Landlord's original obligation to construct pursuant to Section 3.01, and the rent and other charges shall not be abated. If, If by reason of such occurrence, the premises Leased Premises shall be rendered untenable untenantable only in part, Landlord shall at its own expense cause the damage, except to Tenants Tenant's improvements, equipment and trade fixtures, to be repaired, but only to the extent of Landlord's original obligation to construct pursuant to Section 3.01, and the fixed minimum rent meanwhile shall not be abated proportionately as to the portion of the premises rendered untenableuntenantable; provided provided, however, If such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term). Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, . If the premises shall be rendered wholly untenable untenantable by reason of such occurrence, the Landlord shall at Its its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 013.01, and the fixed minimum rent meanwhile shall be abated not abatx xx whole or in whole part except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. If Landlord shall elect to reconstruct, then Landlord shall have a period of nine (9) months from the date Landlord issues its notice to Tenant to build and complete the improvements to the extent of the Landlord's original obligation to construct pursuant to Section 3.01. Tenant specifically acknowledges the obligation to maintain insurance coverage at Tenant's expense to pay the rent costs incurred by Tenant and due Landlord during any period which the Landlord is partially or totally repairing or reconstructing the damage or casualty to VIA MIZNXX XXXANCIAL PLAZA. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for operating costs, common area maintenance and maintenance, real estate taxes attributable attributable, and other charges set forth in Article II of this Lease to any period during which the demised premises Leased Premises shall be in untenable untenantable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused for any other item due Landlord by the fault of Tenant. Whenever the fixed minimum rent shall be abated Tenant pursuant to the terms of this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored in the entire Leased PremisesLease.

Appears in 2 contracts

Samples: Lease Agreement (Mackenzie Investment Management Inc), Lease Agreement (Mackenzie Investment Management Inc)

Total or Partial Destruction. It If the Leased Premises Improvements shall be damaged by fire, the elements, unavoidable accident accidents or other casualty, without the fault of Tenant, but are is not thereby rendered untenable untenantable in whole or in part, Landlord Tenant shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, damage to be repaired, and the rent and other charges shall not be abated. If, If by reason of such occurrence, the premises Improvements shall be rendered untenable wholly untenantable or untenantable only in part, Landlord Tenant shall at its own expense cause the damage, except to Tenants equipment and trade fixtures, damage to be repaired, but only . Under no circumstances shall any such damage entitle Tenant to rental abatement. Notwithstanding anything contained herein to the extent contrary, if more than twenty thirty (30%) of Landlord's original obligation to construct pursuant to Section 3.01, and the fixed minimum rent meanwhile floor area of the Improvements shall be abated proportionately as to the portion of the premises rendered untenable; provided however, If such damage shall occur during damaged or destroyed by fire or other casualty within the last two (2) years of the term of Term, then Tenant shall be under no obligation to restore the Improvements (but shall be obligated to remove the debris and clear the Leased Premises), in which case this Lease (or of any renewal term). Landlord shall have the rightterminate at Tenant’s option, such option to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect following the date of the casualty event by Tenant giving not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier less than thirty (30) days nor later than sixty (60) days after the giving of such notice, If the premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by prior written notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premisesLandlord, and in such event this Lease and the tenancy hereby created shall cease terminate as of the termination date of specified in such notice. In such event, the said occurrence. Nothing in this Section insurance proceeds shall be construed payable to permit Landlord. Unless insurance proceeds are payable to Landlord in accordance with the abatement in whole or in part of the percentage rentpreceding sentence, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises all insurance proceeds shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant payable to this Section 16.01, such abatement shall continue until the date which and shall be the sooner to occur sole property of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored in the entire Leased Premises.

Appears in 1 contract

Samples: Lease Agreement (First Security Bancorp Inc /Ky/)

Total or Partial Destruction. It is mutually agreed by and between the Leased Landlord and Tenant that if at any time after the execution hereof, the improvements included with the Demised Premises shall be are destroyed or damaged by fire, the elements, unavoidable accident elements or other casualty, without the fault of Tenant, but are not thereby rendered untenable in whole or in part, this Lease shall not automatically terminate, but instead, the Tenant shall notify Landlord in writing of such damage or destruction and shall surrender possession of the Demised Premises to Landlord and thereupon, Landlord may, at its option, terminate this Lease or replace the damaged improvements, giving to the Tenant space equal to the present leased space and of the same general type of construction or better, the same to be done as soon as possible after the insurance adjustments, but in no event later than ninety (90) days from the date of the receipt of said insurance adjustment. In the event of total destruction as described above, if Landlord does not exercise its option to terminate this Lease, Tenant's rent shall completely abatx xxxm the date of such destruction until possession of the rebuilt Demised Premises is delivered to the Tenant. In the event of a partial destruction or damage whereby the Tenant shall be deprived of the occupancy of only a portion of the Demised Premises, if Landlord does not exercise its option to terminate this Lease, a proportionate allowance shall be made from the rent during such period, in the proportion which the number of square feet of the Demised Premises which the Tenant is deprived of by such damage or destruction and the making of repairs bears to the total square feet in the Demised Premises; and Landlord shall at use its own expense cause best efforts to repair such damagepartial destruction or damage within one hundred twenty (120) days of its occurrence. If such total or partial destruction is due to the fault or neglect of Tenant, except to Tenant's equipment employees, agents, visitors or licensees, then without prejudice to any other rights and trade fixturesremedies of Landlord and without prejudice to the rights of subrogation of Landlord's insurer, the damage shall be repaired by Landlord in the manner hereinbefore set forth; provided, however, there shall be no apportionment or abatement of rent; otherwise, the Landlord shall proceed diligently to be repaired, and the rent and other charges rebuild said Demised Premises or repair damage thereto in compliance with its covenants herein. No penalty shall not be abated. If, accrue for reasonable delay which may arise by reason of such occurrence, adjustment of insurance on the premises part of the Landlord. Landlord's obligations to repair or rebuild shall be rendered untenable only in partlimited to a basic building and the replacement of any interior work which may have originally been installed at Landlord's cost according to this Lease. In the event Landlord elects to terminate the Lease as provided above, Landlord then the Lease shall at its own expense cause be terminated as of the damage, except date of damage and rent shall be adjusted to Tenants equipment and trade fixtures, to be repaired, but only said date. Notwithstanding anything to the extent contrary contained herein, in the event of total or partial destruction of the Demised Premises giving rise to Landlord's original obligation right to construct pursuant to Section 3.01terminate this Lease, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the premises rendered untenable; provided however, If such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term). Landlord Tenant shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrencebut not the obligation, to elect not exercise its option to repair such damage purchase and to cancel and terminate this Lease effective as receive an assignment of a date stipulated in the proceeds of Landlord's notice, which shall not be earlier than thirty (30insurance policy(ies) days nor later than sixty (60) days after covering the giving of such notice, If the premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored in the entire Leased Demised Premises.

Appears in 1 contract

Samples: Lease Agreement (Dc/DWC Acquisition Corp)

Total or Partial Destruction. It If the Leased Premises leased premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable untenantable in whole or in part, Landlord shall at its own expense expenses cause such damage, except to Tenant's ’s equipment and trade fixtures, to be repaired, and the rent and other charges shall not be abated. If, If by reason of such occurrence, the premises shall be rendered untenable untenantable only in part, Landlord shall at its own expense cause the damage, except to Tenants Tenant’s equipment and trade fixtures, to be repaired, but only to the extent of Landlord's ’s original obligation to construct pursuant to Section 3.01, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the premises rendered untenableuntenantable; provided provided, however, If if such damage shall occur during the last two (2) years of the term of this Lease lease (or of any renewal term). , Landlord shall have the right, right to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease lease effective as of a date stipulated in Landlord's ’s notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, . If the premises shall be rendered wholly untenable untenantable by reason of such occurrence, the Landlord shall at Its its own expense cause such damage, except to Tenant's ’s equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's ’s original obligation to construct pursuant to Section 3. 01, 3.01 and the fixed minimum rent meanwhile shall be abated in whole or in part except that Landlord shall have the right, right to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance insurance, taxes and real estate taxes operating costs attributable to any period during which the demised premises shall be in untenable untenantable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of the Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.0115.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have leased premises has been substantially repaired and restored, or (Hii) the date Tenant's ’s business operations are restored in the entire Leased Premisesleased premises. Notwithstanding the foregoing or anything else herein to the contrary, if the leased premises shall be damaged by fire, the elements, unavoidable accident or other casualty without the fault of Tenant and as a result either: (a) fifty (50%) or more of the of the leased premises are rendered untenantable thereby; or (b) the building of which the leased premises is a part is destroyed; then, if such damage or destruction shall occur during the last year of the term of this Lease (or any renewal term) Tenant shall have the right, to be exercised by notice to Landlord, to cancel and terminate this Lease effective as of the date stipulated in Tenant’s notice which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice.

Appears in 1 contract

Samples: Employment Agreement (Continucare Corp)

Total or Partial Destruction. It If the Leased Premises shall be are hereinafter damaged or destroyed or rendered unleasable for their accustomed use or the Permitted Use, by fire, the elements, unavoidable accident fire or other casualtycasualty under the coverage which LESSOR is obligated to carry under the terms of this Lease, without LESSOR shall promptly repair same to substantially the fault condition which they were in as of Tenantthe Rent Commencement Date, but are not thereby rendered untenable in whole or in partfrom the insurance proceeds it may receive (exclusive of TENANT’S Work and other improvements, Landlord shall at its own expense cause such damagealterations, except to Tenant's equipment and trade fixtures, stock in trade, fixtures, furniture, furnishings, carpeting, floor coverings, wall coverings, drapes, equipment, as well as all other items required to be repairedinsured by TENANT ), and from the rent and other charges shall not be abated. If, by reason date of such occurrencecasualty until the Premises are so repaired and restored, the premises Rent payable hereunder shall axxxx in such proportion as the part of said Premises thus destroyed or rendered unusable bears to the total Premises; and PROVIDED FURTHER, that (a) if the Premises be damaged, destroyed, or rendered untenable only in part, Landlord shall at its own expense cause unleasable for their accustomed uses or the damage, except to Tenants equipment and trade fixtures, to be repaired, but only Permitted Use by fire or other casualty to the extent of Landlord's original obligation to construct pursuant to Section 3.01, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion more than fifty percent (50%) of the premises rendered untenable; provided however, If such damage shall occur cost to replace the Premises during the last two (2) years of the original term of this Lease (or of any renewal term). Landlord its renewals or extensions, then either LESSOR or TENANT shall have the right, right to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a the date stipulated of such casualty by giving to the other, within thirty (30) Business Days after the happening of such casualty, written notice of such termination, and (b) in Landlord's noticethe event the holder of any existing mortgage requires that any insurance proceeds be applied to any indebtedness secured by the mortgage or deed of trust covering the Premises, which LESSOR shall not be earlier than have the right to terminate this Lease by delivering written notice of termination to TENANT. If any such notice is given, this Lease shall terminate effective thirty (30) days nor later than sixty (60) days after the giving of such notice, If TENANT shall thereupon use all reasonable efforts to vacate and remove its property from the premises Premises, and LESSOR shall be rendered wholly untenable by reason repay to TENANT any Rent theretofore paid in advance which was not earned at the effective date of such occurrence, termination. This Lease sets forth the Landlord shall at Its own expense cause such damageterms and conditions upon which this Lease may terminate in the event of any damage or destruction. Accordingly, except to Tenant's equipment as expressly provided herein, LESSOR and trade fixtures, to be repaired, but only to TENANT each hereby waives any and all provisions of applicable law that provide alternative rights for the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored parties in the entire Leased Premises.event of damage or destruction Lease AgreementPage 13 of 23

Appears in 1 contract

Samples: Lease Agreement (Nano Magic Inc.)

Total or Partial Destruction. It (a) If the Leased Premises shall be damaged by fire, the elements, unavoidable accident fire or other casualty, without the fault casualty covered by Landlord's policies of Tenant, fire and broad form extended coverage insurance but are not thereby rendered untenable untenantable in whole or in part, Landlord shall subject to the limitations hereafter set forth, Landlord, at its own expense expense, shall cause such damage, except to Tenant's equipment and trade fixtures, damage to be repaired, and the rent and other charges due hereunder shall not be abated. If, by reason of such occurrence, the premises Premises shall be rendered untenable only untenantable in whole or in part, Landlord shall subject to the limitations hereafter set forth, Landlord, at its own expense expense, shall cause the damage, except to Tenants equipment and trade fixtures, damage to be repaired, but only to the extent of Landlord's original obligation to construct pursuant to Section 3.01, repaired and the fixed minimum rent meanwhile Fixed Minimum Rent shall be abated proportionately as to the portion of the premises Premises rendered untenable; provided howeveruntenantable until the completion of Landlord's repairs thereto. If the Premises shall be damaged or destroyed by a fire or casualty not covered by Landlord's policies of fire and broad form extended coverage insurance and the Landlord, If such damage shall occur during at its option, decides not to repair and restore the last two (2) years of the term of this Lease (or of any renewal term). Premises, Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty (60) days from and after said occurrence, to elect not to repair the occurrence of such damage and or destruction, to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, If the premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3Lease. 01, and the fixed minimum rent meanwhile shall be abated in whole except that Landlord Either party shall have the right, to be exercised by notice in writing, delivered to Tenant the other within sixty thirty (6030) days from and after any occurrence which renders the Premises wholly untenantable to cancel this Lease, if said occurrencedestruction of the Premises occurs within the last three (3) years of the Term, said cancellation to elect not to reconstruct take effect ninety (90) days from and after the destroyed premisesreceipt of such notice by the other party, and in such event this the Lease and the tenancy hereby created shall cease as of the aforesaid date (except that such cancellation shall not affect the obligations of the parties which have accrued theretofore and remain unpaid) and the rent due hereunder shall be adjusted as of such date; provided, however, that if Landlord shall commence repairs or reconstruction of the destroyed Premises during the period prior to the cancellation date, the tenancy shall remain in effect and said occurrencenotice of cancellation shall be considered void. In no event shall Landlord be obligated to expend for any repairs or reconstruction pursuant to this Section 14.01 an amount in excess of the insurance proceeds recovered by Landlord and allocable to the damage to the Premises, after deducting therefrom Landlord's reasonable expenses in obtaining such proceeds and any amounts required to be paid to Landlord's Mortgagee (as defined in Section 16.02 below). Nothing in this Section 14.01 shall be construed to permit the abatement in whole or in part of the percentage rentPercentage Rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises calculation of Percentage Rent shall be in untenable condition, nor shall there be any abatement in these items nor governed solely by Section 2.01 hereof. The provisions hereof are subject to the fixed minimum rent if such damage is caused by the fault terms of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored in the entire Leased Premises.14.02

Appears in 1 contract

Samples: Lease (Hotel Discovery Inc)

Total or Partial Destruction. It If the Leased Premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's ’s equipment and trade fixtures, to be repaired, and the rent and other charges shall not be abated. If, Repairs shall commence within ninety (90) days from receipt of insurance proceeds or commitment to fund from covered insurance provider. If by reason of such occurrence, the premises Leased Premises shall be rendered untenable only in part, Landlord shall at its own expense cause the damage, except to Tenants Tenant’s equipment and trade fixtures, to be repairedrepaired within a reasonable period of time, but only to the extent condition in which the Leased Premises (including Improvements, if any) were originally delivered to Tenant as of Landlord's original obligation to construct pursuant to Section 3.01the Trigger Date, and the fixed minimum rent Base Rent meanwhile shall be abated proportionately as to the portion of the premises Leased Premises rendered untenable; provided however, . If such damage shall occur during the last two year (21) years of the term of this Lease (or of any renewal term). , either Landlord or Tenant shall have the right, to be exercised by notice to Tenant the other within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's the notice, which shall not be earlier later than thirty (30) days nor later than sixty (60) days after the giving of such notice, . If the premises Leased Premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its its own expense cause such damage, except to Tenant's ’s equipment and trade fixtures, to be repaired, but only to the extent condition in which the Leased Premises (including Improvements) were originally delivered to Tenant as of the Landlord's original obligation to construct pursuant to Section 3. 01Trigger Date, and the fixed minimum rent Base Rent meanwhile shall be abated in whole except that either Tenant or Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premisesLeased Premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section There shall be construed to permit the no abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent Base Rent if such damage is caused by the fault gross negligence or intentional act of Tenant. Whenever the fixed minimum rent Base Rent shall be abated pursuant to this Section 16.0115.1, such abatement shall continue until the date which shall be the sooner to occur of of: (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, ; or (Hii) the date Tenant's ’s business operations are restored in the entire Leased Premises.

Appears in 1 contract

Samples: Lease Agreement (Transcat Inc)

Total or Partial Destruction. It Tenant shall give prompt notice to Landlord in case of any fire or other damage to the Leased Demised Premises. If (a) the Demised Premises shall be damaged by fire, the elements, unavoidable accident fire or other casualtyoccurrence to the extent of more than 25% of the aggregate cost of replacement thereof, without or (b) the fault buildings in the Shopping Center shall be damaged by fire or other occurrence to the extent of Tenantmore than 25% of the aggregate cost of replacement thereof (whether or not the Demised Premises be damaged in whole or in part), but are or (c) the buildings in the Shopping Center shall be damaged by fire or other occurrence and either the loss shall not thereby rendered untenable be covered by insurance or the insurance proceeds shall, by reasonable anticipation, be insufficient to pay for the repair or restoration work, then in any such event Landlord may terminate the Lease by notice given within 90 days after such event, and upon the date specified in such notice, which shall not be less than 30 days nor more than 60 days after the giving of said notice, this Lease shall terminate. If any damage by fire or other casualty shall render the Demised Premises untenantable, in whole or in part, a proportionate abatement of the Fixed Rent based upon the Floor Space rendered untenantable shall be allowed from the date when the damage occurred until completion of the repair or restoration work by Landlord as hereinafter provided, or, in the event Landlord elects to terminate this Lease, until said date of termination. If this Lease shall at its own expense cause not be terminated after damage by fire or other casualty, Landlord shall, promptly after receipt of the insurance proceeds for such damage, except to Tenant's equipment and trade fixtures, to be repaired, and or as soon as practicable in the rent and other charges event that insurance proceeds shall not be abatedavailable, proceed with the restoration of the Demised Premises and the Shopping Center to substantially the condition in which the same existed prior to the damage with such changes as Landlord may desire or be required by any Requirements to make, except for tenant's stock in trade, fixtures, furniture, furnishings, removable floor coverings, equipment, signs and all other property, and Tenant shall promptly proceed with the restoration or replacement of its stock in trade, fixtures, furniture, furnishings, removable floor coverings, equipment, signs and all other property of Tenant and decorations in and around the Demised Premises. If, by reason of such occurrence, the premises shall be rendered untenable only in part, If Landlord shall at its own expense cause not complete such restoration or repair of the damage, except to Tenants equipment and trade fixtures, Demised Premises within 180 days after such damage (such date to be repaired, but only to the extent of extended for an additional 30 days for reasons beyond Landlord's original obligation to construct pursuant to Section 3.01reasonable control), and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the premises rendered untenable; provided however, If such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term). Landlord Tenant shall have the right, to be exercised right by notice to Tenant within sixty (60) Landlord given on or before 30 days after said occurrencethereafter to terminate this Lease. Such right of termination shall be nullified if such repair or restoration shall be completed prior to the effective date of Tenant's notice. Such right of termination shall be Tenant's sole remedy and if not timely elected, the right to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, If the premises hereunder shall be rendered wholly untenable by reason deemed waived and of such occurrence, the Landlord shall at Its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored in the entire Leased Premises.no further force and

Appears in 1 contract

Samples: Dm Management Co /De/

Total or Partial Destruction. It If the Leased Premises shall should be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable untenantable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, damage to be repairedrepaired within 180 days from the date of the damage or casualty, and the rent and other charges rental shall not be abated. If, If by reason of such occurrence, the premises Premises shall be rendered untenable untenantable only in part, Landlord shall at its own expense cause the damage, except to Tenants equipment and trade fixtures, damage to be repairedrepaired within 180 days from the date of the damage or casualty, but only or if the damage cannot be repaired within said 180 days, Landlord shall commence to repair the extent of Landlord's original obligation damage within such 180-day period and diligently pursue the repairs to construct pursuant to Section 3.01completion, and the fixed minimum rent rental meanwhile shall be fairly and proportionately abated proportionately as to the portion of the premises Premises rendered untenable; provided however, If such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term)untenantable thereby. Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, If the premises Premises shall be rendered wholly untenable untenantable by reason of such occurrence, the Landlord shall at Its own expense cause may elect to either diligently pursue repairs of such damage, except to Tenant's equipment and trade fixturesuntil the Premises have been restored and rendered tenantable, to be repairedthe rental shall xxxxx, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole except that or alternatively Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event may terminate this Lease and the tenancy hereby created shall cease as of by giving to Tenant written notice within thirty (30) days from the date of the said occurrencesuch damage or casualty. Nothing in Landlord’s obligation to repair under this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of 17.01 (i) fifteen is expressly limited to the extent of any insurance proceeds paid to and received by Landlord, and (15ii) days after notice by shall at all times be subject to obtaining all necessary approvals from all applicable governmental entities, and the holder of any Mortgage, and is further subject to the willingness of such holder to make the proceeds of casualty insurance policies available to Landlord to Tenant for such repairs or restoration. Landlord shall not be liable for any delay that is beyond the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored reasonable control of Landlord in the entire Leased completion of the repair and restoration of the Premises. Landlord shall use said proceeds to restore the Premises to the condition it was in following completion by Tenant of its leasehold improvements, and in such event.

Appears in 1 contract

Samples: Lease Agreement (Spacedev, Inc.)

Total or Partial Destruction. It If the Leased Premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, and the rent and other charges shall not be abated. If, by reason of such occurrence, the premises Leased Premises shall be rendered untenable only in part, Landlord shall at its own expense cause the damage, except to Tenants Tenant's equipment and trade fixtures, to be repaired, but only to the extent of Landlord's ' s original obligation to construct pursuant to Section 3.01, and the fixed minimum rent Monthly Base Rent meanwhile shall be abated proportionately as to the portion of the premises Leased Premises rendered untenable; provided however, If if such damage shall occur during the last two (2) years of the term Term of this Lease (or of any renewal term). Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's ’s notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, . If the premises Leased Premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent Monthly Base Rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance Common Area Maintenance and real estate taxes attributable to any period during which the demised premises Leased Premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent Monthly Base Rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent Monthly Base Rent shall be abated pursuant to this Section 16.0115.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (Hii) the date Tenant's business operations are restored in the entire Leased Premises.

Appears in 1 contract

Samples: Miami Beach Lease Agreement (LMP Automotive Holdings Inc.)

Total or Partial Destruction. It If the Leased Premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable untenantable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, and the rent and other charges shall not be abated. If, Repairs shall commence within a reasonable period of time. If by reason of such occurrence, the premises Leased Premises shall be rendered untenable untenantable only in part, Landlord shall at its own expense cause the damage, except to Tenants Tenant's equipment and trade fixtures, to be repairedrepaired within a reasonable period of time, but only to the extent of Landlord's original obligation condition in which the Leased Premises were originally delivered to construct pursuant to Section 3.01Tenant, and the fixed minimum rent Base Rent meanwhile shall be abated proportionately as to the portion of the premises Leased Premises rendered untenable; provided however, untenantable. If such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term). , Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, . If the premises Leased Premises shall be rendered wholly untenable untenantable by reason of such occurrence, the Landlord shall at Its its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of condition in which the Landlord's original obligation Leased Premises were originally delivered to construct pursuant to Section 3. 01Tenant, and the fixed minimum rent Base Rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premisesLeased Premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section There shall be construed to permit the no abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent Base Rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent Base Rent shall be abated pursuant to this Section 16.0115.1, such abatement shall continue until the date which shall be the sooner to occur of of: (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, ; or (Hii) the date Tenant's business operations are restored in the entire Leased Premises.

Appears in 1 contract

Samples: Andrx Corp

Total or Partial Destruction. It If the Leased Premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's ’s equipment and trade fixtures, to be repaired, and the rent and other charges shall not be abated. If, by reason of such occurrence, the premises Leased Premises shall be rendered untenable only in part, Landlord shall at its own expense cause the damage, except to Tenants Tenant’s equipment and trade fixtures, to be repaired, but only to the extent of Landlord's ’ s original obligation to construct pursuant to Section 3.01, and the fixed minimum rent Monthly Base Rent meanwhile shall be abated proportionately as to the portion of the premises Leased Premises rendered untenable; provided however, If if such damage shall occur during the last two (2) years of the term Term of this Lease (or of any renewal term). Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's ’s notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, . If the premises Leased Premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its its own expense cause such damage, except to Tenant's ’s equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's ’s original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent Monthly Base Rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance Common Area Maintenance and real estate taxes attributable to any period during which the demised premises Leased Premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent Monthly Base Rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent Monthly Base Rent shall be abated pursuant to this Section 16.0115.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (Hii) the date Tenant's ’s business operations are restored in the entire Leased Premises.

Appears in 1 contract

Samples: Miami Beach Urgent Care Center Lease Agreement (LMP Automotive Holdings Inc.)

Total or Partial Destruction. It If the Leased Premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable untenantable in whole or in part, Landlord shall, to the extent of available insurance proceeds, cause such damages, except to Tenant’s equipment and trade fixtures, to be repaired, and the Rent and other charges payable by Tenant hereunder shall not be abated. If by reason of such occurrence, the Premises shall be rendered untenantable only in part, Landlord shall, to the extent of available insurance proceeds, cause the damage, except to Tenant’s equipment and trade fixtures, to be repaired, and the Base Rent meanwhile shall be abated proportionately as to the portion of the Premises rendered untenantable. With respect to partial destruction, Landlord shall promptly procure necessary plans and materials necessary to obtain a building permit to complete reconstruction, apply for and obtain such building permit, and commence construction within one hundred eighty (180) days following the date of partial destruction, subject to a reasonable extension in the event the building permit is delayed due to the action or inaction of the issuing agency and shall complete repairs and restoration of the Premises to a condition substantially the same as the condition of the Premises prior to the damage within one hundred eighty (180) days after commencement. If the Premises shall be rendered wholly untenantable by reason of such occurrence, Landlord shall at its own expense cause such damage, except to Tenant's ’s equipment and trade fixtures, to be repaired, repaired and the rent and other charges shall not be abated. If, by reason of such occurrence, the premises Base Rent meanwhile shall be rendered untenable only abated in part, Landlord shall at its own expense cause the damage, except whole. Landlord’s obligations to Tenants equipment repair pursuant to this Section apply and trade fixtures, to be repaired, but extend only to the extent of Landlord's ’s original obligation to construct pursuant to Section 3.01construct, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion defined in this Lease. If fifty percent (50%) of more of the premises Premises are rendered untenable; provided howeveruntenantable, If such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term). then Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, If the premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice writing delivered to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premisesPremises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement During any period that Base Rent is abated in whole or in part under this Section or Section 15.01, Additional Rent shall likewise be abated. If this Lease is terminated under this Section, all Deposits and other sums due under this Lease shall be promptly refunded to Tenant after payment of all accrued but unpaid rents, if any. For purposes of the percentage rentArticle XIV and Article XV below, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored in the entire Leased Premises.term “

Appears in 1 contract

Samples: Lease (Quixote Corp)

Total or Partial Destruction. It If the Leased Premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable untenantable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, and the rent and other charges payable by Tenant hereunder shall not be abated. If, If by reason of such occurrence, the premises Leased Premises shall be rendered untenable untenantable only in part, Landlord shall shall, subject to the approval of any mortgagee of Landlord, at its own expense cause the damage, except to Tenants Tenant's equipment and trade trade' fixtures, to be repaired, but only to the extent of Landlord's original obligation to construct pursuant to Section 3.01, and the fixed minimum annual rent meanwhile shall be abated proportionately as to the portion of the premises Leased Premises rendered untenable; provided howeveruntenantable. For purposes of this Article XIV, If the Leased Premises shall be considered rendered untenantable in part if and to the extent Tenant is unable to continue its business therein in the same manner as conducted immediately prior to such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term)destruction. Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, If the premises Leased Premises shall be rendered wholly untenable untenantable by reason of such occurrence, the Landlord shall shall, subject to the approval of any mortgagee of Landlord, at Its its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum annual rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty thirty (6030) days after said occurrence, to elect not to reconstruct the destroyed premisesLeased Premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the any abatement in whole or in part of the percentage rent, in additional rent nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum annual rent if such damage is caused by the fault an act or omission of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored in the entire Leased Premises.

Appears in 1 contract

Samples: Lease Agreement (Radiation Therapy Services Inc)

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Total or Partial Destruction. It In the Leased event the Premises shall be are partially damaged by fire, the elements, unavoidable accident fire or other casualty, without the fault of Tenant, but are not thereby rendered untenable in whole or in part, Landlord shall at its own expense cause perils covered by extended coverage insurance such damage, except to Tenant's equipment and trade fixtures, to be repaired, and the rent and other charges shall not be abated. If, by reason of such occurrence, the premises shall be rendered untenable only in part, Landlord shall at its own expense cause the damage, except to Tenants equipment and trade fixtures, to be repaired, but only to the extent of Landlord's original obligation to construct pursuant to Section 3.01, and the fixed minimum rent meanwhile shall be abated proportionately as to that the portion of the premises rendered untenable; provided howeverPremises damaged can be repaired within 60 days and that Tenant may continue to conduct its business therein without disruption, If such damage Landlord agrees to forthwith repair same, and this lease shall occur during the last two (2) years remain in full force and effect, except that Tenant shall be entitled to a proportionate reduction of the term Base Rent from the date of this Lease (damage and while such repairs are being made, such proportionate reduction to be based upon the portion of the Premises rendered untenantable during repairs. If the damage is due to the intentional act of Tenant or its employees, there shall be no abatement of any renewal term)rent. In the event the Premises are damaged as a result of fire or other cause thereby rendering the Premises wholly untenantable, then Landlord shall have promptly repair or restore such damage, this lease continuing in full force and effect, but the right, Base Rent to be exercised by proportionately reduced as hereinabove provided unless either party shall give notice to Tenant the other at any time within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later after such damage, terminating this lease as of the date specified in such notice, which date shall be no more than sixty thirty (6030) days after the giving of such notice. Provided, If however, a party may not elect to terminate this Lease unless the premises necessary repairs cannot reasonably be made within a period of ninety (90) days or less, or unless the cost of repairing such damage shall be rendered wholly untenable by reason equal or exceed sixty percent (60%) of fair replacement value of the Premises immediately prior to such occurrencedamage (provided this sentence shall not apply if one year or less remain in the lease term or, if then in a renewal term, the Landlord renewal term). In the event of giving such notice, this lease shall at Its own expense cause such damage, except to Tenant's equipment expire and trade fixtures, to be repaired, but only to the extent all interest of the Landlord's original obligation to construct pursuant to Section 3. 01, and Tenant in the fixed minimum rent meanwhile Premises shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until terminate on the date which the Premises were rendered untenantable. Landlord shall not be the sooner required to occur make any repairs or replacements of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restoredany leasehold improvements, fixtures, or (H) the date other personal property of Tenant's business operations are restored in the entire Leased Premises.

Appears in 1 contract

Samples: Adoption Agreement (Opticare Health Systems Inc)

Total or Partial Destruction. It If the Leased Premises shall be partially or totally destroyed by fire or other casualty insurable under full standard fire and extended risk insurance, so as to become partially or totally untenantable, the same (unless Landlord shall elect not to rebuild as hereinafter provided) shall be repaired and restored by and at the cost of Landlord, and a just and proportionate part of the rent, as provided for hereinafter and as is reasonably acceptable to Tenant, shall be abated until the Leased Premises are so restored. If more than one-third (1/3) of the building in which the Leased Premises are located shall be destroyed or damaged by fire, the elements, unavoidable accident fire or other casualty, without and if the fault of Tenant, but are not thereby rendered untenable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, and the rent and other charges shall not be abated. If, by reason of such occurrence, the premises shall be rendered untenable only in part, Landlord shall at its own expense cause the damage, except to Tenants equipment and trade fixtures, to be repaired, but only to the extent of Landlord's original obligation to construct pursuant to Section 3.01, and the fixed minimum rent meanwhile shall be abated proportionately as to the unexpired portion of the premises rendered untenable; provided however, If such damage shall occur during the last two (2) years of the term of this Lease shall be two (2) years or less at the date of any renewal term). the damage, then Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to may elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than or rebuild by giving written notice within thirty (30) days nor later than sixty (60) days after the giving such occurrence of such noticeits election to terminate this Lease; otherwise, If the premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its own expense cause commence and pursue diligently such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to reconstruction. In the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole except event that Landlord shall have exercise the rightright given heretofore to terminate, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event then this Lease and the tenancy hereby created terms hereof shall cease as of the date of the said occurrence. Nothing in this Section such damage or destruction, and all rent or other charges payable by Tenant shall be construed prorated to permit the abatement in whole or in part date of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage or destruction. In the event that this Lease is caused by not canceled, then the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date or reduced proportionately during any period in which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, are rendered wholly or (H) partially untenantable to the date extent such damage or destruction shall interfere with the operation of Tenant's business operations are restored in the entire Leased Premises, as determined in Tenant's reasonable business judgment. Such abatement or reduction shall continue for the period commencing with such destruction or damage and ending with Tenant's substantial completion of the work or repair or restoration as Tenant is obligated or elects to do, as the case may be, and as in this Article provided. In such event, Tenant shall commence the work with due diligence and shall prosecute the same vigorously to completion.

Appears in 1 contract

Samples: Restaurant Lease Agreement (Rock Bottom Restaurants Inc)

Total or Partial Destruction. It If the Leased Premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable untenantable in whole or in part, Landlord shall shall, at its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, and the rent and other charges shall not be abated. If, by reason of such occurrence, the premises shall be rendered untenable only in part, Landlord shall at its own expense cause the damage, except to Tenants equipment and trade fixtures, to be repaired, but only to the extent of Landlord's original obligation restoring the premises to construct pursuant their condition prior to Section 3.01, and the damage. The fixed minimum rent meanwhile shall be abated proportionately as to the portion of the premises Leased Premises rendered untenableuntenantable; provided provided, however, If if such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term). ) Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, . If the premises Premises shall be rendered wholly untenable untenantable by reason of such occurrence, the Landlord shall at Its its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of restoring the Leased Premises to the condition as of the beginning of the term and before the construction of any Tenant improvements. Landlord shall not be responsible for insuring and restoring its property, fixtures and improvements, including the improvements partially financed by Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole whole, except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises Leased Premises shall be in untenable untenantable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01paragraph, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (Hii) the date Tenant's business operations are restored in the entire Leased Premises.

Appears in 1 contract

Samples: Lease Agreement (Mace Security International Inc)

Total or Partial Destruction. It If the Leased Premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable in whole or in partwholly untenantable, Landlord shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, damage to be repaired, and the rent and other charges rental shall not be abated. If, If the Premises shall be rendered wholly untenantable by reason of such occurrence, the premises shall be rendered untenable only in part, Landlord shall at its own expense cause the damage, except to Tenants equipment and trade fixtures, such damage to be repaired, but only to and until the extent of Landlord's original obligation to construct pursuant to Section 3.01, Premises have been restored and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the premises rendered untenable; provided however, If such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term). Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, If the premises shall be rendered wholly untenable by reason of such occurrencetenantable, the rental shall axxxx, or Landlord shall may at Its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event its election terminate this Lease and the tenancy hereby created shall cease as of by giving to Tenant within the sixty (60) days following the date of the said occurrence. Nothing , written notice of Landlord’s election to do so and in this Section shall be construed to permit the abatement in whole or in part event of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum termination rent shall be abated pursuant adjusted as of such date. Landlord’s obligation to repair under this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of 16.01 (i) fifteen is expressly limited to the extent of any insurance proceeds paid to and received by Landlord, and (15ii) days after notice by shall at all times be subject to obtaining all necessary approvals from all applicable governmental entities, and the holder of any Mortgage and the willingness of such holder to make the proceeds of casualty insurance policies available to Landlord to Tenant for such purposes. Landlord shall not be liable for any delay that is beyond the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored reasonable control of Landlord in the entire Leased completion of the repair and restoration of the Premises. Landlord shall use said proceeds to restore the Premises to the condition it was in following completion by Tenant of its leasehold improvements, and in such event, Tenant shall restore and replace Tenant’s Improvements, except as aforesaid. Notwithstanding any provision of this Section to the contrary, Landlord may relocate Tenant to a Substitute Premises.

Appears in 1 contract

Samples: Lease Agreement (V2K International Inc)

Total or Partial Destruction. It If the Leased Premises premises shall be damaged by fire, the elements, unavoidable accident fire or other casualty, without the fault casualty covered by Landlord's policies of Tenant, fire and broad form extended coverage insurance but are not thereby rendered untenable untenantable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, damage to be repaired, and the rent and other charges shall not be abated. If, If by reason of such occurrence, the premises shall be rendered untenable only untenantable in whole or in part, Landlord shall at its own expense cause the damage, except to Tenants equipment and trade fixtures, damage to be repaired, but only to the extent of Landlord's original obligation to construct pursuant to Section 3.01, repaired and the fixed minimum rent meanwhile shall be abated proportionately as to the portion of the premises rendered untenable; provided howeveruntenantable until Landlord has restored the premises. If the premises shall be damaged or destroyed by a fire or casualty not covered by Landlord's policies of fire and broad form extended coverage insurance and the Landlord decides not to repair and restore the premises, If such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term). Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty ninety (6090) days from and after said occurrencethe occurrence of such damage or destruction, to elect not to repair such damage and to cancel and terminate this Lease effective as Lease. Notwithstanding the previous terms of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, If the premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only this Section 20.1 to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01contrary, and the fixed minimum rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice in writing, delivered to Tenant within sixty thirty (6030) days after said occurrenceany occurrence which renders the premises wholly or partially untenantable, to elect not to reconstruct the destroyed premises, and in such event terminate this Lease if (a) said destruction of the premises occurs within the last two (2) years of the original term or the last two (2) years of any renewal term hereof, or (b) the Landlord's mortgagee requires Landlord to pay said mortgagee all or a portion of the insurance proceeds and the tenancy hereby created remainder of such proceeds is not sufficient to repair the damages to the premises. In any of said events, the termination shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of take effect thirty (i) fifteen (1530) days after the receipt of such notice by Tenant and the rent and other charges shall be payable through such date. In no event shall Landlord be obligated to Tenant that expend for any repairs or reconstruction in an amount in excess of the Leased Premises have been substantially repaired insurance proceeds recovered by it and restored, allocable to the damage of the premises after deduction therefrom of any amounts required to be paid to Landlord's mortgagee. Landlord shall not be liable for delays occasioned by adjustment of losses with insurance carriers or (H) the date Tenant's business operations are restored in the entire Leased Premises.by any other cause so long as Landlord shall

Appears in 1 contract

Samples: Stock Purchase Agreement (Horizon Health Corp /De/)

Total or Partial Destruction. It If the Leased Premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, and the rent and other charges shall not be abated. If, Repairs shall commence within a reasonable period of time. If by reason of such occurrence, the premises Leased Premises shall be rendered untenable only in part, Landlord shall at its own expense cause the damage, except to Tenants Tenant's equipment and trade fixtures, to be repairedrepaired within a reasonable period of time, but only to the extent of Landlord's original obligation condition in which the Leased Premises were originally delivered to construct pursuant to Section 3.01Tenant, and the fixed minimum rent Base Rent meanwhile shall be abated proportionately as to the portion of the premises Leased Premises rendered untenable; provided however, . If such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term). , Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, . If the premises Leased Premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of condition in which the Landlord's original obligation Leased Premises were originally delivered to construct pursuant to Section 3. 01Tenant, and the fixed minimum rent Base Rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premisesLeased Premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section There shall be construed to permit the no abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent Base Rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent Base Rent shall be abated pursuant to this Section 16.0115.1, such abatement shall continue until the date which shall be the sooner to occur of of: (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, ; or (Hii) the date Tenant's business operations are restored in the entire Leased Premises.

Appears in 1 contract

Samples: Geerlings & Wade Inc

Total or Partial Destruction. It (a) If the Leased Premises shall be damaged by fire, the elements, unavoidable accident fire or other casualty, without the fault casualty covered by Landlords policies of Tenant, fire and extended coverage insurance but are not thereby rendered untenable untenantable in whole or in any part, Landlord shall Landlord, at its own expense expense, shall cause such damage, except to Tenant's equipment and trade fixtures, damage promptly to be repaired, and the rent and other charges shall not be abated. If, by reason of such occurrence, the premises shall be rendered untenable only in part, Landlord shall at its own expense cause the damage, except to Tenants equipment and trade fixtures, to be repaired, but only to the extent of Landlord's original obligation to construct pursuant to Section 3.01, and the fixed minimum rent meanwhile shall be abated proportionately as to in accordance with the portion nature and proportion of the premises rendered untenable; provided howeverdamage, until delivery of possession of the restored Leased Premises. If the Leased Premises shall be damaged or destroyed by a fire or casualty not covered by Landlord's policies of fire and extended coverage insurance, or if said damage or destruction renders the Leased Premises untenantable, in whole or in part, then Landlord may, at its option, elect to repair such damage shall occur during or destruction within one hundred and eighty (180) days after the last two (2) years occurence of such damage or destruction. If Landlord does not elect to undertake such repairs, or is unable to complete such repairs within the term of this Lease (or of any renewal term). Landlord time period specified, then either party hereto shall have the right, to be exercised by notice in writing delivered to Tenant the other party within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty from and after either Landlord's election not to repair or the expiration of such 180-day period, as applicable, to cancel this Lease, said cancellation to take effect thirty (6030) days from and after the giving delivery of such notice, If the premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the aforesaid cancellation date, the rent to be adjusted as of the date of the delivery of said occurrencenotice. Nothing in this Section In no event shall Landlord be construed obligated to permit the abatement in whole expend for any repairs, restoration or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated reconstruction pursuant to this Section 16.01, such abatement shall continue until Paragraph an amount in excess of the date which shall be insurance proceeds recovered by it and allocable to the sooner damage to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenantafter deduction therefrom of Landlord's business operations are restored reasonable expenses in the entire Leased Premisesobtaining such proceeds.

Appears in 1 contract

Samples: Assignment of Lease (I Many Inc)

Total or Partial Destruction. It If the Leased Premises shall be damaged by fire, the elements, unavoidable accident or other casualty, without the fault of Tenant, but are not thereby rendered untenable untenantable in whole or in part, Landlord shall at its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, and the rent and other charges shall not be abated. If, Repairs shall commence within a reasonable period of time. If by reason of such occurrence, the premises Leased Premises shall be rendered untenable untenantable only in part, Landlord shall at its own expense cause the damage, except to Tenants Tenant's equipment and trade fixtures, to be repairedrepaired within a reasonable period of time, but only to the extent of Landlord's original obligation condition in which the Leased Premises were originally delivered to construct pursuant to Section 3.01Tenant, and the fixed minimum rent Base Rent meanwhile shall be abated proportionately as to the portion of the premises Leased Premises rendered untenable; provided however, untenantable. If such damage shall occur during the last two (2) years of the term of this Lease (or of any renewal term). , Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty (30) days nor later than sixty (60) days after the giving of such notice, . If the premises Leased Premises shall be rendered wholly untenable untenantable by reason of such occurrence, the Landlord shall at Its its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of condition in which the Landlord's original obligation Leased Premises were originally delivered to construct pursuant to Section 3. 01Tenant, and the fixed minimum rent Base Rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premises, and in such event this Lease and the tenancy hereby created shall cease as of the date of the said occurrence. Nothing in this Section shall be construed to permit the abatement in whole or in part of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored in the entire Leased Premises.to

Appears in 1 contract

Samples: Galacticomm Technologies Inc

Total or Partial Destruction. It (a) If the Leased Demised Premises shall be damaged by fire, the elements, unavoidable accident fire or other casualty, without the fault casualty covered by Landlord's policies of Tenant, fire and broad form extended coverage insurance but are not thereby rendered untenable untenantable in whole or in part, Landlord shall subject to the limitations hereafter set forth, Landlord, at its own expense expense, shall cause such damage, except to Tenant's equipment and trade fixtures, damage to be repaired, and the rent and other charges shall not be abated. If, by reason abated pending completion of such occurrence, repairs. If the premises Demised Premises shall be rendered untenable only in partdamaged or destroyed by a fire or casualty not covered by Landlord's policies of fire and broad form extended coverage insurance and the Landlord, at its option, decides not to repair and restore the premises, Landlord shall at its own expense cause have the damage, except to Tenants equipment and trade fixturesright, to be repairedexercised by notice in writing delivered to Tenant within sixty (60) days from and after the occurrence of such damage or destruction, but only to cancel and terminate this Lease. Either party shall have the right, to be exercised by notice in writing, delivered to the extent of Landlord's original obligation other within thirty (30) days from and after any occurrence which renders the premises wholly untenantable to construct pursuant to Section 3.01cancel this Lease, and the fixed minimum rent meanwhile shall be abated proportionately as to the portion if said destruction of the premises rendered untenable; provided however, If such damage shall occur during occurs within the last two (2) years of the term of this Lease or if repairs to the Demised Premises shall take in excess of One Hundred Twenty (or of any renewal term). Landlord shall have the right, to be exercised by notice to Tenant within sixty (60120) days after to complete, said occurrence, cancellation to elect not to repair such damage and to cancel and terminate this Lease effective as of a date stipulated in Landlord's notice, which shall not be earlier than thirty take effect ninety (3090) days nor later than sixty (60) days from and after the giving receipt of such notice, If notice by the premises shall be rendered wholly untenable by reason of such occurrence, the Landlord shall at Its own expense cause such damage, except to Tenant's equipment and trade fixtures, to be repaired, but only to the extent of the Landlord's original obligation to construct pursuant to Section 3. 01, and the fixed minimum rent meanwhile shall be abated in whole except that Landlord shall have the right, to be exercised by notice to Tenant within sixty (60) days after said occurrence, to elect not to reconstruct the destroyed premisesother party, and in such event this Lease and the tenancy hereby created shall cease as of the aforesaid date (except that such cancellation shall not affect the obligations of the said occurrence. Nothing in this Section shall parties which have accrued theretofore and remain unpaid), the rent to be construed to permit the abatement in whole or in part adjusted as of the percentage rent, nor charges for common area maintenance and real estate taxes attributable to any period during which the demised premises shall be in untenable condition, nor shall there be any abatement in these items nor the fixed minimum rent if such damage is caused by the fault of Tenant. Whenever the fixed minimum rent shall be abated pursuant to this Section 16.01, such abatement shall continue until the date which shall be the sooner to occur of (i) fifteen (15) days after notice by Landlord to Tenant that the Leased Premises have been substantially repaired and restored, or (H) the date Tenant's business operations are restored in the entire Leased Premisesdate.

Appears in 1 contract

Samples: Indenture of Lease (Crusader Holding Corp)

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