Common use of Total or Partial Destruction Clause in Contracts

Total or Partial Destruction. If the Premises shall be damaged by fire or other casualty covered by Landlord's policies of fire and broad form extended coverage insurance but are not thereby rendered untenantable in whole or in part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence, the Premises shall be rendered untenantable in whole or in part and such damage can, in Landlord's reasonable judgment, be repaired within 180 days, Landlord shall at its own expense cause the damage to be repaired and the Fixed Minimum Rent and other charges due hereunder meanwhile shall be abated proportionately as to the portion of the Premises rendered untenantable 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 Landlord decides not to repair and restore the Premises, Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within ninety (90) days from and after the occurrence of such damage or destruction, to elect to terminate this Lease. Landlord shall have the right, to be exercised by notice in writing, delivered to Tenant within thirty (30) days after any occurrence which renders the Premises wholly untenantable to terminate this Lease if said destruction of the Premises occurs within the last three (3) years of the original term or the last three (3) years of any renewal term hereof. In any of said events, the termination shall take effect thirty (30) days after the receipt of such notice by Tenant and the rent and other charges shall be payable through such date, subject to proportional abatement. In no event shall Landlord be obligated to expend for any repairs or reconstruction an amount in excess of the insurance proceeds recovered by it and allocable to the damage of the Premises after deduction therefrom of any amounts required to be paid to any Mortgagee. Landlord shall not be liable for delays occasioned by adjustment of losses with insurance carriers or by any other cause so long as Landlord shall proceed in good faith. If Landlord is required to repair or reconstruct the Premises pursuant to the provisions of this section, Landlord's obligation shall be limited to the construction of the Building shell. Tenant, at Tenant's expense, shall submit to Landlord for Landlord's approval plans and specifications for all other work not required to be done by Landlord and, upon approval of such plans and specifications and within fifteen (15) days after Tenant has been notified that Landlord has completed its work on the Premises, Tenant shall reenter the Premises and therein diligently pursue to completion such work at Tenant's expense and thereafter commence doing business all in accordance with the provisions of this Lease within forty-five (45) days after said notice.

Appears in 2 contracts

Samples: Lease Agreement (Avax Technologies Inc), Lease Agreement (Avax Technologies Inc)

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Total or Partial Destruction. If In the Premises shall be damaged by fire or other casualty covered by Landlord's policies case of fire and broad form extended coverage insurance but are not thereby rendered untenantable in whole or in part, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence, the Premises shall be rendered untenantable in whole or in part and such damage can, in Landlord's reasonable judgment, be repaired within 180 days, Landlord shall at its own expense cause the damage to be repaired and the Fixed Minimum Rent and other charges due hereunder meanwhile shall be abated proportionately as to the portion destruction of the Premises rendered untenantable until Landlord has restored the Premises. If by hurricane, fire, wind or other casualty, Tenant shall restore, repair, replace or rebuild the Premises shall be damaged as nearly as possible to the condition the Premises was in prior to such damage or destroyed by a fire or casualty not covered by Landlord's policies of fire and broad form extended coverage destruction to the extent that Landlord makes the insurance and Landlord decides not to repair and restore proceeds available for the Premises, same (the “Repairs”). Landlord shall have the right, to be exercised by notice in writing delivered make available to Tenant within ninety (90) days from and after the occurrence any insurance proceeds which Landlord may receive as a result of such damage or destructiondestruction subject to such controls over disbursement as Landlord or its mortgagee may deem necessary to insure (i) that the Repairs will be made properly; (ii) that adequate funds have been escrowed by Tenant to pay for any costs, expenses and repairs not covered by the insurance proceeds; (iii) that all contractors, subcontractors and suppliers will be paid in full; and (iv) that the Repairs will be made in conformity with plans and specifications approved by Landlord and in accordance with all applicable building codes, zoning ordinances and governmental laws and regulations. Notwithstanding the above, if the damage or destruction shall occur within the six (6) months of the end of the Term and if the cost of the Repairs as estimated by Landlord or its architect or contractor shall exceed the aggregate remaining amounts of Annual Minimum Rent due under this Lease, or in the event that the damage or destruction occurs anytime during the term of this Lease and the cost of the Repairs as estimated by Landlord or its architect or contractor in good faith, exceeds the aggregate remaining amounts of Annual Minimum Rent due under this Lease, then Tenant shall not be required to elect to terminate make the Repairs and either party may cancel this Lease. However, Landlord shall have the right, be entitled to be exercised by notice in writing, delivered to Tenant within thirty (30) days after any occurrence which renders the Premises wholly untenantable to terminate this Lease if said destruction of the Premises occurs within the last three (3) years of the original term or the last three (3) years of any renewal term hereof. In any of said events, the termination shall take effect thirty (30) days after the receipt all insurance proceeds on account of such notice by Tenant destruction and the rent and other charges shall be payable through such date, subject to proportional abatementdamage. In no event shall Landlord will Tenant be obligated relieved of its responsibility to expend for any repairs or reconstruction an amount in excess pay rental and other sums due under this Lease because of the insurance proceeds recovered by it and allocable casualty to the damage of the Premises after deduction therefrom of any amounts required Premises. Tenant agrees to be paid protect itself from possible casualty to any Mortgagee. Landlord shall not be liable for delays occasioned by adjustment of losses with insurance carriers or by any other cause so long as Landlord shall proceed in good faith. If Landlord is required to repair or reconstruct the Premises pursuant to the provisions of this section, Landlord's obligation shall be limited to the construction of the Building shell. Tenant, at Tenant's expense, shall submit to Landlord for Landlord's approval plans and specifications for all other work not required to be done by Landlord and, upon approval of such plans and specifications and within fifteen (15) days after Tenant has been notified that Landlord has completed its work on the Premises, Tenant shall reenter the Premises and therein diligently pursue its obligation to completion such work at Tenant's expense and thereafter commence doing pay rent by obtaining adequate business all in accordance with the provisions of this Lease within forty-five (45) days after said noticeinterruption insurance.

Appears in 2 contracts

Samples: Lease Agreement (Imaging Diagnostic Systems Inc /Fl/), Lease Agreement (Imaging Diagnostic Systems Inc /Fl/)

Total or Partial Destruction. 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 Tenant, and Rent shall continue during such period of repair and restoration for the longer of six (6) months or the period for which Tenant's business interruption insurance makes payments to Tenant as a result of such destruction and interruption of Tenant's business. Thereafter, a just and proportionate part of the rent, as provided for hereinafter, shall be abated until the Leased Premises are so restored. Landlord and Tenant agree to take all reasonable steps to make the proceeds of their respective casualty insurance coverages available to Tenant so that Tenant may fulfill its reconstruction obligations hereunder. Landlord and Tenant additionally agree to take all reasonable steps to mutually assure that the reconstruction proceeds so as not to trigger the "Developer's Right to Purchase" under Section 2.6 of the Restrictive Agreement. If more than one-third (1/3) of the building in which the Leased Premises are located shall be destroyed or damaged by fire or other casualty covered by Landlord's policies of fire and broad form extended coverage insurance but are not thereby rendered untenantable in whole or in part, Landlord shall at its own expense cause such damage to be repairedcasualty, and if the rent shall not be abated. If by reason of such occurrence, the Premises shall be rendered untenantable in whole or in part and such damage can, in Landlord's reasonable judgment, be repaired within 180 days, Landlord shall at its own expense cause the damage to be repaired and the Fixed Minimum Rent and other charges due hereunder meanwhile shall be abated proportionately as to the unexpired portion of the Premises rendered untenantable until Landlord has restored the Premises. If the Premises term of this Lease shall be damaged two (2) years or destroyed by a fire or casualty not covered by Landlord's policies less at the date of fire and broad form extended coverage insurance and the damage, then Landlord decides may elect not to repair and restore the Premises, Landlord shall have the right, to be exercised or rebuild by giving written notice in writing delivered to Tenant within ninety (90) days from and after the occurrence of such damage or destruction, to elect to terminate this Lease. Landlord shall have the right, to be exercised by notice in writing, delivered to Tenant within thirty (30) days after any such occurrence which renders the Premises wholly untenantable of its election to terminate this Lease if said destruction of the Premises occurs within the last three (3) years of the original term or the last three (3) years of any renewal term hereof. In any of said events, the termination shall take effect thirty (30) days after the receipt of such notice by Tenant and the rent and other charges shall be payable through such date, subject to proportional abatement. In no event shall Landlord be obligated to expend for any repairs or reconstruction an amount in excess of the insurance proceeds recovered by it and allocable to the damage of the Premises after deduction therefrom of any amounts required to be paid to any Mortgagee. Landlord shall not be liable for delays occasioned by adjustment of losses with insurance carriers or by any other cause so long as Landlord shall proceed in good faith. If Landlord is required to repair or reconstruct the Premises pursuant to the provisions of this section, Landlord's obligation shall be limited to the construction of the Building shell. Tenant, at Tenant's expense, shall submit to Landlord for Landlord's approval plans and specifications for all other work not required to be done by Landlord and, upon approval of such plans and specifications and within fifteen (15) days after Tenant has been notified that Landlord has completed its work on the PremisesLease; otherwise, Tenant shall reenter commence and pursue such reconstruction diligently to completion. In the Premises event that Landlord shall exercise the right heretofore given to terminate, then this Lease shall cease as of the date of such damage or destruction, and therein diligently pursue all rent or other charges payable by Tenant shall be prorated to completion the date of such work at damage or destruction. In the event that this Lease is not canceled, then the Rent shall continue during such period of repair and restoration for the longer of six (6) months or the period for which Tenant's expense business interruption insurance makes payments to Tenant as a result of such destruction and thereafter commence doing business all in accordance with interruption of Tenant's business. Thereafter, a just and proportionate part of the provisions of this Lease within forty-five (45) days after said noticerent shall be abated until the Leased Premises are so restored.

Appears in 1 contract

Samples: Restaurant Lease (Rock Bottom Restaurants Inc)

Total or Partial Destruction. If the Leased Premises shall be damaged by fire or other casualty covered by Landlord's policies of fire and broad form extended coverage insurance but are not thereby rendered untenantable in whole or in part, and provided sufficient funds are made available by Landlord's Mortgagee, Landlord shall at its own expense cause such damage to be repaired, and the rent shall not be abated. If by reason of such occurrence, the Premises premises shall be rendered untenantable in whole or in part and such damage can, in Landlord's reasonable judgment, be repaired within 180 dayspart, Landlord shall at its own expense cause the damage to be repaired and the Fixed Minimum Rent and other charges due hereunder additional rent meanwhile shall be abated proportionately until Landlord has restored the premises as to the portion of the Premises premises rendered untenantable until Landlord has restored the Premisesuntenantable. If the Leased 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 insurance, which casualty renders the Premises untenantable in whole or in part, and Landlord decides not to repair and restore the Premisespremises, Landlord shall have the right, right to be exercised by notice in writing delivered to Tenant within ninety sixty (9060) days from and after the occurrence of such damage or destruction, to elect to cancel and terminate this Lease. Landlord Either party shall have the right, to be exercised by notice in writing, delivered to Tenant the other within thirty (30) days from and after any occurrence which renders the Premises premises wholly untenantable to terminate cancel this Lease if said destruction of the Premises premises occurs within the last three (3) years of the original term or the last three (3) years of any renewal term hereof. In any of , said events, the termination shall cancellation to take effect thirty (30) days from and after the receipt of such notice by Tenant the other party, 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 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 other charges said notice of cancellation shall be payable through such date, subject to proportional abatementconsidered void. In no event shall Landlord be obligated to expend for any repairs repair or reconstruction pursuant to this Section 15.01 an amount in excess of the insurance proceeds recovered by it and allocable to the damage of to the Leased Premises after deduction therefrom of any amounts required to be paid to any Landlord's Mortgagee. If Landlord is required to repair or reconstruct the Leased Premises pursuant to the provision of this Section 15.01, its obligation shall be limited to the building shell and other construction performed by Landlord pursuant to Exhibit "B" hereof. Landlord shall not be liable for delays occasioned by adjustment of losses with insurance carriers or by any other cause so long as Landlord shall proceed in good faith. If Landlord is required to repair or reconstruct the Premises pursuant to the provisions of this section, Landlord's obligation shall be limited to the construction of the Building shell. Tenant, at Tenant's expense, shall submit to Landlord for Landlord's approval plans and specifications for all other work not required to be done by Landlord and, upon approval of such plans and specifications and within fifteen (15) days after Tenant has been notified that Landlord has completed its work on the Premises, Tenant shall reenter the Premises and therein diligently pursue to completion such work at Tenant's expense and thereafter commence doing business all in accordance with the provisions of this Lease within forty-five (45) days after said notice.

Appears in 1 contract

Samples: Lease Agreement (Penn National Gaming Inc)

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Total or Partial Destruction. 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 Tenant , and Rent shall continue during such period of repair and restoration for the longer of six (6) months or the period for which Tenant's business interruption insurance makes payments to Tenant as a result of such destruction and interruption of Tenant's business. Thereafter, a just and proportionate part of the rent, as provided for hereinafter, shall be abated until the Leased Premises are so restored. Landlord and Tenant agree to take all reasonable steps to make the proceeds of their respective casualty insurance coverages available to Tenant so that Tenant may fulfill its reconstruction obligations hereunder. Landlord and Tenant additionally agree to take all reasonable steps to mutually assure that the reconstruction proceeds so as not to lose the exclusive "Brew Pub" use that the Property enjoys pursuant to paragraph 2 of the Restrictions Agreement. If more than one-third (1/3) of the building in which the Leased Premises are located shall be destroyed or damaged by fire or other casualty covered by Landlord's policies of fire and broad form extended coverage insurance but are not thereby rendered untenantable in whole or in part, Landlord shall at its own expense cause such damage to be repairedcasualty, and if the rent shall not be abated. If by reason of such occurrence, the Premises shall be rendered untenantable in whole or in part and such damage can, in Landlord's reasonable judgment, be repaired within 180 days, Landlord shall at its own expense cause the damage to be repaired and the Fixed Minimum Rent and other charges due hereunder meanwhile shall be abated proportionately as to the unexpired portion of the Premises rendered untenantable until Landlord has restored the Premises. If the Premises term of this Lease shall be damaged two (2) years or destroyed by a fire or casualty not covered by Landlord's policies less at the date of fire and broad form extended coverage insurance and the damage, then Landlord decides may elect not to repair and restore the Premises, Landlord shall have the right, to be exercised or rebuild by giving written notice in writing delivered to Tenant within ninety (90) days from and after the occurrence of such damage or destruction, to elect to terminate this Lease. Landlord shall have the right, to be exercised by notice in writing, delivered to Tenant within thirty (30) days after any such occurrence which renders the Premises wholly untenantable of its election to terminate this Lease if said destruction of the Premises occurs within the last three (3) years of the original term or the last three (3) years of any renewal term hereof. In any of said events, the termination shall take effect thirty (30) days after the receipt of such notice by Tenant and the rent and other charges shall be payable through such date, subject to proportional abatement. In no event shall Landlord be obligated to expend for any repairs or reconstruction an amount in excess of the insurance proceeds recovered by it and allocable to the damage of the Premises after deduction therefrom of any amounts required to be paid to any Mortgagee. Landlord shall not be liable for delays occasioned by adjustment of losses with insurance carriers or by any other cause so long as Landlord shall proceed in good faith. If Landlord is required to repair or reconstruct the Premises pursuant to the provisions of this section, Landlord's obligation shall be limited to the construction of the Building shell. Tenant, at Tenant's expense, shall submit to Landlord for Landlord's approval plans and specifications for all other work not required to be done by Landlord and, upon approval of such plans and specifications and within fifteen (15) days after Tenant has been notified that Landlord has completed its work on the PremisesLease; otherwise, Tenant shall reenter commence and pursue such reconstruction diligently to completion. In the Premises event that Landlord shall exercise the right heretofore given to terminate, then this Lease shall cease as of the date of such damage or destruction, and therein diligently pursue all rent or other charges payable by Tenant shall be prorated to completion the date of such work at damage or destruction. In the event that this Lease is not canceled, then the Rent shall continue during such period of repair and restoration for the longer of six (6) months or the period for which Tenant's expense business interruption insurance makes payments to Tenant as a result of such destruction and thereafter commence doing business all in accordance with interruption of Tenant's business. Thereafter, a just and proportionate part of the provisions of this Lease within forty-five (45) days after said noticerent shall be abated until the Leased Premises are so restored.

Appears in 1 contract

Samples: Restaurant Lease (Rock Bottom Restaurants Inc)

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