Common use of DAMAGE BY CASUALTY Clause in Contracts

DAMAGE BY CASUALTY. If, during the Initial Term or any Renewal Term(s) or this Lease and in the sole judgment of Lessor, the Premises suffer damage by fire, explosion, or any other casualty (a) to the extent that the Premises cannot reasonably be repaired within 180 days after date of such damage; or, (b) to the extent the Premises cannot be economically repaired, then this Lease shall, at the option of Lessor, terminate as to that portion of the Premises so damaged without penalty to Lessor as of the date of such damage and the Rent allocated to that portion of the Premises so damaged shall cease as of the date of such damage, and Lessee shall forthwith surrender that portion of the damaged Premises to Lessor; provided, however, that this Lease shall continue in full force and effect as to the remainder of the Premises. If this Lease is not so terminated, then Lessee shall repair the Premises as soon as reasonably practicable, and Lessor shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, and in such event Tenant shall not be obligated to pay any rent for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond Lessee's control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premises, or for any restoration to the Premises made by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right to terminate this Lease without penalty by delivering written notice of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminate.

Appears in 3 contracts

Samples: Lease Agreement (Consolidated Communications Holdings, Inc.), Lease Agreement (Consolidated Communications Holdings, Inc.), Lease Agreement (Consolidated Communications Holdings, Inc.)

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DAMAGE BY CASUALTY. If, during (A) If the Initial Term Demised Premises is damaged or any Renewal Term(s) destroyed in whole or this Lease and in the sole judgment of Lessor, the Premises suffer damage part by fire, explosionthe elements, subsidence of sublateral or any subjacent support or other casualty (a) casualty, Landlord shall repair and restore the Demised Premises with reasonable promptness, subject to reasonable delays for insurance adjustments and delays caused by matters beyond Landlord’s reasonable control, but Landlord shall not be obligated to expend for repairing or restoring the damage an amount in excess of the proceeds of insurance actually received by Landlord for application to the extent that the Premises cannot reasonably be repaired within 180 days after date repair of such damage; or, (b) to . If in Landlord’s reasonable estimate the extent the Demised Premises cannot be economically repairedrestored within six (6) months from the date of such fire or casualty, then Landlord shall give notice to Tenant of such estimate within ninety (90) days after such fire or casualty. Tenant may elect by written notice given to Landlord within sixty (60) days following the date of such notice from Landlord to terminate this Lease shall, at the option of Lessor, terminate as to that portion of the Premises so damaged without penalty to Lessor effective as of the date of Tenant’s notice. If any such damage and the Rent allocated to that portion (i) renders 50% or more of the Premises so damaged shall cease as of Building untenantable or (ii) renders general Building systems inoperable and such systems cannot be repaired in Landlord’s reasonable estimate within six (6) months from the date of such damage, and Lessee shall forthwith surrender that portion damage or (iii) occurs within the last year of the damaged Premises to Lessor; providedTerm, however, that this Lease shall continue in full force and effect as to the remainder of the Premises. If this Lease is not so terminated, then Lessee shall repair the Premises as soon as reasonably practicable, and Lessor shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, and in such event Landlord or Tenant shall not be obligated to pay any rent for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond Lessee's control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premises, or for any restoration to the Premises made by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right to terminate this Lease without penalty by delivering as of the date of such damage upon written notice given to the other party at any time within ninety (90) days after the date of termination such damage. Landlord shall have no liability to LesseeTenant, whereupon all rights and obligations hereunder Tenant shall cease not be entitled to terminate this Lease, by virtue of any delays in completion of such repairs and terminaterestoration provided that Tenant shall have the right to terminate the Lease if such repairs are not completed within such 6-month period, subject to extension for delays caused by Force Majeure (as such term is defined in Section 46), by notice given within thirty (30) days after such repair period expires, which notice shall be deemed withdrawn if the restoration is completed within thirty (30) days after such notice is delivered to Landlord. Fixed Rent and additional rent, however, shall xxxxx on those portions of the Demised Premises as are, from time to time, untenantable and, in fact, unoccupied by Tenant as a result of such damage. All insurance proceeds and such other funds as may be necessary to complete the restoration of the Demised Premises shall be paid by Landlord to Landlord’s first mortgagee for the Demised Premises or such other depository institution reasonably acceptable to Landlord and Tenant, less such actual and reasonable attorneys’ fees or other expenses as are incurred by the depository, Landlord, Landlord’s mortgagee or Tenant, in the collection and/or administration thereof, which shall be paid out of such proceeds, in trust, to be used for the restoration and repair of the Demised Premises in accordance with the provisions of this Lease. The provisions of the immediately preceding sentence to the contrary notwithstanding, the proceeds of any rent loss or business interruption insurance then in effect shall be paid to Landlord (when and as due and payable) for the rent accruing before such restoration is completed. Any balance of such proceeds remaining after such payments are made shall, upon completion of the restoration, be paid to Landlord or as Landlord may direct. Any proceeds which are separately paid on account of any damage to or destruction of any Tenant’s personal property or inventory shall be paid directly to Tenant. The depository shall disburse the insurance and restoration proceeds to Landlord or as Landlord may direct, from time to time as such restoration progresses, to pay or reimburse Landlord for the cost of such restoration, upon Landlord’s written request accompanied by evidence that an amount equaling the amount requested is then due and payable or has been paid, and is properly a part of such cost. Disbursements shall be made from time to time in an amount not exceeding the hard and soft costs of the restoration, less any customary retainage, and otherwise in accordance with customary construction practices employed by prudent construction lenders.

Appears in 2 contracts

Samples: Lease Agreement, Amended and Restated Lease Agreement (West Marine Inc)

DAMAGE BY CASUALTY. IfIn case, during the Initial Term term created or any Renewal Term(s) or this Lease and in the sole judgment of Lessorprevious thereto, the Leased Premises suffer damage by fire, explosionhereby let, or any the building on which said Leased Premises are a part, shall be destroyed or shall be so damaged by fire or other casualty (a) casualty, as to the extent that the Premises cannot reasonably be repaired within 180 days after date of such damage; or, (b) to the extent the Premises cannot be economically repairedbecome untenantable, then this Lease shallin such event, at the option of Lessorthe LESSOR, terminate as to that portion of the Premises so damaged without penalty to Lessor as of term hereby created shall cease, and this Lease shall become null and void from the date of such damage or destruction and the Rent allocated LESSEE shall immediately surrender said Leased Premises and all interest therein to that portion of LESSOR, and LESSEE shall pay rent within said term only to the Premises so damaged shall cease as of the date time of such damage, and Lessee shall forthwith surrender that portion of the damaged Premises to Lessorsurrender; provided, however, that LESSOR shall exersize such option to so terminate this Lease by notice in writing delivered to LESSEE within one hundred twenty (120) days after such damage or destruction. In case LESSOR shall not so elect to terminate this Lease, in such event, this Lease shall continue in full force and effect as to and the remainder of the Premises. If this Lease is not so terminated, then Lessee LESSOR shall repair the Premises leased premises within one hundred eighty (180) days, placing the same in approximately as soon good a condition as reasonably practicablethey were at the time of the damage or destruction, and Lessor for that purpose may enter said Leased Premises and rent shall assign any insurance proceeds xxxxx in proportion to Lessee the extent and duration of untenantability. In either event, LESSEE shall remove all rubbish, debris, merchandise, furniture, equipment and other of its personal property, within five (5) days after the request of the LESSOR. If the Leased Premises shall be but slightly injured by fire the elements so as not to render the same untenantable and unfit for occupancy, then the purpose of paying for such repairsLESSOR shall repair the same within ninety (90) days, and in such event Tenant that case the rent shall not xxxxx. No compensation or claim shall be obligated made by or allowed to pay the LESSEE by reason of any rent for the period inconvenience or annoyance arising from the date necessity of repairing any portion of the Premises are rendered untenantable until building or the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If Leased Premises, however the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond Lessee's control shall delay the constructionnecessity may occur. In case of such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premises, or for any restoration to the Premises made by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering LESSOR elects to repair the Leased Premises requires that any or all of but fails to complete the insurance proceeds be applied to such indebtednessrepairs as required herein, then Lessor shall have LESSEE may terminate the right to terminate this Lease without penalty by delivering upon sixty (60) day's written notice of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminateLESSOR.

Appears in 2 contracts

Samples: Lease (Atlantic Express Transportation Corp), Lease (Atlantic Express Transportation Corp)

DAMAGE BY CASUALTY. If, during the Initial Term term hereof, or any Renewal Term(s) or this Lease and in the sole judgment of Lessorprevious thereto, the Premises or any Building of which the Premises are a part shall suffer damage by fire, explosion, or any other casualty (a) to the extent that the Premises or Building cannot reasonably be repaired within 180 90 days after date of such damage; or, (b) with the proceeds of such insurance, in the judgment of Lessor and Lessee, or if they cannot agree, a mutually agreeable third party qualified in the construction industry in or about Christian County, Illinois, or to such an extent that under the extent then existing laws, orders, ordinances or other public requirements the Premises same cannot be economically repairedrepaired to substantially the same form and with substantially the same materials as before such damage, then this Lease the term shall, at the option of Lessoreither party exercised by written notice not later than sixty (60) days after the occurrence of such casualty, terminate as to that portion of the Premises so damaged without penalty to Lessor as of the date of such damage and the Rent allocated to that portion of the Premises so damaged rent shall cease as of the date of such damage, and damage (with proportionate refund of any prepayment) on condition Lessee shall forthwith surrender that portion of surrenders the damaged Premises to Lessor; provided, however, that this Lease shall continue in full force and effect as to the remainder of the Premises. If this Lease is not so terminated, then Lessee Lessor shall repair the Premises as soon as reasonably practicablepracticable with due diligence. A maximum of 120 days shall be considered a reasonable time in which to complete repairs barring any extraordinary circumstances or matters beyond the control of Lessor, placing the same in as good condition as they were just before such damage, and Lessor rent shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, xxxxx pro rata and in such event Tenant proportion to untenantability of the Premises (or if the undamaged portion is not reasonably usable for Lessee’s purposes pending the restoration of the Building, all rent shall not be obligated to pay any rent for the period xxxxx) from the date time of such damage until restoration of the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancyby Lessor. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond Lessee's Lessor’s control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor Lessee shall remove all of the rubbish and debris of Lessee’s property within sixty (60) days after written request by Lessor, and if this Lease is not thereby terminated, Lessee shall not do anything to hinder or delay Lessee's Lessor’s work or of repair, and will cooperate with Lessee Lessor in the performance of such repair or work. Lessor shall not be liable for inconvenience to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the PremisesPremises or Building, or nor for the restoration of any restoration to the Premises improvements made by Lessee. Notwithstanding anything herein to , nor for the contrary, in the event the holder restoration of any indebtedness secured by a mortgage or deed property of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right to terminate this Lease without penalty by delivering written notice of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminate.

Appears in 1 contract

Samples: Lease (Gsi Group Inc)

DAMAGE BY CASUALTY. If, during the Initial Term or any Renewal Term(s) or this Lease and in the sole judgment of Lessor, the Premises suffer damage by fire, explosion, or any other casualty (a) to the extent that the Premises cannot reasonably be repaired within 180 days after date of such damage; or, (b) to the extent the Premises cannot be economically repaired, then this Lease shall, at the option of Lessor, terminate as to that portion of the Premises so damaged without penalty to Lessor as of the date of such damage and the Rent allocated to that portion of the Premises so damaged shall cease as of the date of such damage, and Lessee shall forthwith surrender that portion of the damaged Premises to Lessor; provided, however, that this Lease shall continue in full force and effect as to the remainder of the Premises. If this Lease is not so terminated, then Lessee shall repair the Premises as soon as reasonably practicable, and Lessor shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, and in such event Tenant shall not be obligated to pay any rent for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond Lessee's control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premises, or for any restoration to the Premises made by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right to terminate this Lease without penalty by delivering written notice of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminate. Any allocation of Rent required under this Lease shall be made in accordance with the Allocation Schedule in Exhibit B, as adjusted on a pro rata basis for subsequent increases of rent.

Appears in 1 contract

Samples: Lease Agreement (Consolidated Communications Texas Holdings, Inc.)

DAMAGE BY CASUALTY. If, during A. If the Initial Term Improvements shall be damaged or destroyed by fire or any Renewal Term(sother any other peril whatsoever lessee shall, except as hereinafter provided, restore the leased premises and the Improvements or shall cause the same to be restored to such extent that, upon the completion of such restoration work, the market value, utility and character of the leased premises and the Improvements as so restored shall at least be substantially equal to the market value, utility and character thereof immediately prior to such damage or destruction, irrespective of the availability or sufficiency of any fire or other insurance proceeds payable with respect thereto. Lessee's obligations hereunder are subject to the following further understandings and agreements: (a) All insurance moneys, if any, paid to a Depositary as provided in Article Thirteenth hereof on account of such damage or destruction, shall be applied in the following manner: (i) There shall be paid to lessee form said insurance moneys such part thereof as shall equal the cost to lessee of doing such temporary work as in lessee's reasonable opinion may be necessary in order to protect the leased premises pending adjustment of the insurance loss or the restoration of such leased premises. (ii) There shall be paid to lessee from said insurance moneys such part thereof as shall equal the cost to lessee of restoring the leased premises as required above. If said insurance moneys shall not equal the cost to lessee of such restoration, lessee shall nevertheless complete the same without expense to lessor and all the work undertaken by lessee in connection with such restoration shall be free of liens. All such work shall be done in accordance with the provisions and conditions of Article Fourth. (iii) Payment to lessee pursuant to clauses (I) or (ii) or this Lease and in the sole judgment of Lessor, the Premises suffer damage by fire, explosion, or any other casualty paragraph (a) from insurance moneys shall be made to lessee form time to time as the work progresses, but not more frequently than once in any calendar month, in amounts equal to the extent cost of labor and material incorporated into and used in such work plus builders', architects' and engineers' fees and other charges in connection with such work, upon delivery to the Depositary and to lessor, of a certificate of a responsible officer of lessee certifying that the Premises cannot reasonably amounts so to be repaired within 180 days after date paid to lessee are payable to lessee in accordance with the provisions of this Article Nineteenth that such damage; oramounts are then due and payable by lessee or have theretofore been paid by lessee and that the amount remaining with the Depositary or lessor's mortgagees, as the case may be, is sufficient to pay for the completion of the restoration. (b) In the event that any of the insurance moneys paid by the insurance companies to a Depositary with respect to the extent leased premises, as hereinabove provided, shall remain after the Premises cannot completion of such restoration, the excess shall be economically repaired, then paid over to lessor or as lessor may direct. B. If such fire or other casualty destroys all or substantially all of the leased premises during the original term of this Lease shall, at and lessee does not desire to restore the option of Lessor, terminate as Improvements and provided that such fire or other casualty has rendered the leased premises no longer economic to that portion of the Premises so damaged without penalty to Lessor as of the date of such damage and the Rent allocated to that portion of the Premises so damaged shall cease as of the date of such damage, and Lessee shall forthwith surrender that portion of the damaged Premises to Lessor; provided, however, that this Lease shall continue in full force and effect as to the remainder of the Premises. If this Lease is not so terminated, then Lessee shall repair the Premises as soon as reasonably practicable, and Lessor shall assign any insurance proceeds to Lessee restore for the purpose of paying for such repairs, and in such event Tenant shall not be obligated to pay any rent for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenantlessee's continued use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit lessee may elect, within sixty (60) days after such fire or other casualty, to give written notice to lessor and ready for Tenantlessor's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts mortgages of God, or any other contingency beyond Lessee's control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premises, or for any restoration to the Premises made by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right its intention to terminate this Lease without penalty as provided in Article Twentieth hereof. As a part of said notice lessee shall furnish a certification executed by delivering written notice the president or a vice president of termination lessee has determined that the fire or other casualty has rendered the leased premises no longer economic and that lessee has determined that the Improvements will not be rebuilt, replaced or repaired, ("Lessee's Casualty Certificate"), and shall offer to Lesseepurchase the Improvements and the Land as provided in Article Twentieth hereof. If such offer to purchase shall be accepted or be deemed to have been accepted, whereupon lessor shall transfer and convey or cause to be conveyed such Improvements and Land to lessee in the manner provided in Article Twentieth, and upon consummation of such purchase by lessee all rights insurance moneys paid or payable as a result of such fire or casualty shall be paid to and/or retained by lessee. If lessee's offer to purchase shall have been rejected and obligations hereunder this Lease terminated as provided for in said Article Twentieth, all such insurance moneys shall cease and terminatebe paid directly to lessor.

Appears in 1 contract

Samples: Sublease (Inflow Inc)

DAMAGE BY CASUALTY. If, during the Initial Term or any Renewal Term(s) or this Lease and in the sole judgment of Lessor, If the Premises suffer damage is damaged so substantially by fire, explosion, fire or any other casualty (a) as to the extent that make the Premises cannot reasonably be repaired within 180 wholly or partially untenantable, Lessor shall have thirty (30) days after date of such damage; or, (bthe "Notice Period") to the extent the Premises cannot be economically repaired, then this Lease shall, at the option of Lessor, terminate as to that portion of the Premises so damaged without penalty to Lessor as of from the date of such damage to notify Lessee in writing (the "Casualty Notice") whether Lessor shall restore and repair the Rent allocated to that portion foundation, structural elements, exterior ways and roof of the Premises so damaged shall cease as within ninety (90) days following expiration of the date of such Notice Period to substantially the same condition as before the damage. If during the Notice Period, Lessor fails to notify Lessee that Lessor does plan so to restore and repair the Premises, then Lessee shall forthwith surrender that portion may, at its option, at any time after the expiration of the damaged Notice Period (but prior to the earlier to occur of (a) Lessee's receipt of the Casualty Notice (whenever given), or (b) restoration of the Premises), cancel this Lease and surrender the Premises to Lessor by providing written notice thereof to Lessor; provided, however, that Lessor may defeat such termination notice by notifying Lessee in writing within three (3) business days of receipt of Lessee's termination notice that Lessor shall so restore and repair the Premises and that such restoration and repair shall be completed within ninety (90) days following expiration of the original Notice Period . If Lessor does notify Lessee during the Notice Period (or as otherwise set forth in the preceding sentence) that Lessor plans so to restore and repair the Premises within ninety (90) days following expiration of the Notice Period, then this Lease shall continue remain in full force and effect effect. If Lessor fails so to restore the Premises to substantially the same condition as to before the remainder damage within one hundred twenty (120) days following the date of the Premises. If this Lease is not so terminateddamage, then Lessee shall repair the Premises as soon as reasonably practicable, and Lessor shall assign any insurance proceeds to Lessee for the purpose excluding days of paying for such repairs, and in such event Tenant shall not be obligated to pay any rent for the period delay resulting from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, acts or any neglect of Lessee (or of its agents, employees, licensees or invitees), strikes, unavoidable delays in transportation, or other contingency beyond Lessee's events causing delay in completion of the restoration of the Premises and outside the reasonable control shall delay the construction. In case of such damageLessor, whether then Lessee may, at its option, prior to completion of repairs and restoration by Lessor and upon ten (10) days notice to Lessor, cancel this Lease is thereby terminated and surrender the Premises to Lessor. To the extent that this Lease remains in effect following damage to the Premises by fire or notother casualty, the rental hereunder shall, for the time period commencing on the date of the damage and ending on the date on which Lessor shall not do anything to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part completes restoration of the Premises, or for any restoration be reduced pro rata in proportion to the rentable square footage of the Premises made untenantable by Lesseesuch casualty. Notwithstanding anything herein the foregoing provisions of this Paragraph 15, if (i) Lessor's reasonable, good-faith estimate of the cost of so restoring and repairing the Premises is less than $225,000.00, and (ii) Lessor's reasonable, good-faith estimate of the time required so to restore and repair the contraryPremises is 120 days or less, in the event the and (iii) each holder of any indebtedness secured by a mortgage or deed (as defined in Paragraph 21 hereof) encumbering the property of trust covering which the Premises requires that any or forms a part has permitted such restoration and repair and has allowed all of the applicable insurance proceeds to be applied to such indebtednessrestoration and repair (less any applicable deductible amounts), then Lessor shall be obligated so to restore the Premises within 120 days after the date of such casualty damage (subject to extension of such restoration period due to circumstances beyond the reasonable control of Lessor), and this Lease shall remain in full force and effect; provided, however, that if such damage to the Premises by fire or other casualty occurs at a time when twelve (12) months or less remain on the term of this Lease, Lessor (unless Lessee, being then entitled to exercise its Renewal Option, notifies that Lessor of Lessee's election to exercise its Renewal Option, which case Lessor shall have the right obligation to repair and restore the Premises so long as the conditions set forth in (i), (ii) and (iii) hereinabove have been met) or Lessee may at its option terminate or cancel this Lease without penalty by delivering upon ten (10) days' written notice of termination to Lesseethe other party, whereupon all rights Lessee shall promptly surrender the Premises to Lessor, and obligations hereunder thereafter no further rental shall cease and terminateaccrue hereunder.

Appears in 1 contract

Samples: Lease (Somera Communications Inc)

DAMAGE BY CASUALTY. IfIf the demised premises shall be partially or totally damaged or destroyed, during then Landlord shall diligently and as soon as practicable after such damage occurs (taking into account the Initial Term or time necessary to effectuate a satisfactory settlement with any Renewal Term(s) or this Lease insurance company, and in the sole judgment reasonable delay on account of Lessor, the Premises suffer damage by fire, explosion, "labor troubles" or any other casualty (acauses beyond Landlord's control) to repair or rebuild the extent that the Premises cannot reasonably be repaired within 180 days after date of such damage; ordemised premises, (b) to the extent the Premises cannot be economically repaired, then this Lease shall, at the option of Lessor, terminate as to that portion of the Premises so damaged without penalty to Lessor as of the date of such damage and the Rent allocated to that portion of the Premises so damaged shall cease as of the date of such damage, and Lessee shall forthwith surrender that portion of the damaged Premises to Lessor; provided, however, that this in no event shall Landlord be obligated to expend in such repair or rebuilding any sums in excess of the amount of insurance proceeds paid to Landlord in connection therewith, except for any deductible paid by the Landlord. The foregoing notwithstanding, in no event shall Landlord be required to repair, restore or rebuild any portions of the demised premises constituting a part of Tenant's leasehold improvements or other tenant work, trade fixtures, equipment and personal property. If the demised premises are rendered wholly or partially untenantable by such damage or destruction, any such damage and destruction was without the fault or neglect of the Tenant, its servants, employees, agents, or licensees, then the basic monthly rent payable by Tenant under the Lease during the period in which the demised premises are so untenantable shall continue in full force and effect as be equitably abated by the percentage that the unusable floor area of the demised premises bears to the remainder total floor area thereof. Except as set forth in this Article, Landlord shall not be liable for any damages (including, without limitation, business interruption) that may be suffered by Tenant by reasons of any casualty to the demised premises and/or Landlord's repairing or rebuilding thereof and/or the deprivation of Tenant's use and possession of the Premisesdemised premises. If All of the foregoing provisions of this Lease is Article notwithstanding, if the demised premises and/or the common area access to the demises premises, if necessary to Tenant's business, are rendered wholly untenantable by fire or other cause, and such damage cannot so terminatedbe repaired by Landlord within one hundred eighty (180) days following the date of such casualty, then Lessee shall repair the Premises as soon as reasonably practicable, and Lessor shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, and in such event Tenant shall Tenant, provided it is not be obligated to pay any rent for the period from the date the Premises are rendered untenantable until the Premises are again fit in default hereunder, may, at its option, cancel and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond Lessee's control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premises, or for any restoration to the Premises made by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right to terminate this Lease without penalty by delivering written notice of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminate.giving

Appears in 1 contract

Samples: Lease Agreement (Century Bancshares Inc)

DAMAGE BY CASUALTY. If, during the Initial Term term hereof, or previous thereto, the premises or any Renewal Term(s) or this Lease and in building of which the sole judgment of Lessor, the Premises premises are a part shall suffer damage by fire, explosion, providential means, or any other casualty (a) to the extent that the Premises premises or building cannot reasonably be repaired within 180 120 days after date of such damage; or, (b) or to such an extent that under the extent then existing laws, orders, ordinances or other public requirements the Premises same cannot be economically repairedrepaired to substantially the same form and with substantially the same materials as before such damage, then this Lease shall, at the option of Lessor, term hereby created shall terminate as to that portion of the Premises so damaged without penalty to Lessor as of the date of such damage and the Rent allocated to that portion of the Premises so damaged rent shall cease as of the date of such damage, and with proportionate refund of any prepayment, on condition Lessee shall forthwith surrender that portion of surrenders the damaged Premises premises to Lessor; provided, however, that this Lease shall continue in full force and effect as to the remainder of the Premises. If this Lease is not so terminated, then Lessee Lessor shall repair the Premises premises as soon as reasonably practicablepracticable with due diligence, placing the same in as good condition as they were just before such damage, and Lessor rent shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, abatx xxx rata and in such event Tenant shall not be obligated proportion to pay any rent for untenantability of the period premises from the date time of such damage until restoration of the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancypremises by Lessor. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond LesseeLessor's control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor Lessee shall remove all of the rubbish and debris of Lessee's property within five (5) days after written request by Lessor, and if this Lease is not thereby terminated. Lessee shall not do anything to hinder or delay LesseeLessor's work or of repair, and will cooperate with Lessee in the performance of Lesson such repair or work. Lessor shall not be liable for inconvenience to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premisespremises or building, or nor for the restoration of any restoration to the Premises improvements made by Lessee. nor for the restoration of any property of Lessee. Notwithstanding anything herein to the contrary, contrary in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right to terminate this Lease without penalty by delivering written notice of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminate.

Appears in 1 contract

Samples: Quintiles Transnational Corp

DAMAGE BY CASUALTY. If, during the Initial Term or any Renewal Term(s) or this Lease and in the sole judgment of Lessor, If the Premises suffer damage or the Building are damaged or partially destroyed by fire, explosion, fire or any other casualty (a) to the extent of one-half (1/2) or less of the then cost of replacement above the foundation, the same shall as soon as practicable be promptly repaired by Landlord except that the obligation of Landlord to rebuild shall not include any obligation to rebuild those portions of the Premises cannot reasonably be repaired within 180 days after date of such damage; or, (b) installed or added by Tenant. If the Premises or the Building is destroyed or damaged to the extent of greater than one-half (1/2) of the Premises cannot be economically repairedthen replacement cost, then either Landlord, with the approval of its mortgagee, or Tenant may elect to terminate this Lease shallby giving notice in writing to the other party terminating this Lease given within sixty (60) days of such damage or destruction, at the option of Lessorin which event, terminate as to that portion of the Premises so damaged without penalty to Lessor this Lease shall be terminated as of the date of such notice. If neither party provides such notice, Landlord shall promptly commence and diligently pursue to completion any repair or restoration needed as a result of such fire or other casualty. If Landlord shall proceed to repair or rebuild the Premises, it shall initiate and pursue the necessary work with reasonable dispatch in the manner consistent with sound construction methods. Tenant agrees to promptly cooperate with Landlord so as to not delay the progress of such repair and restoration. If the damage or partial destruction to the Building or Premises shall, in the opinion of Tenant, render the Premises wholly untenantable, then rent shall abate until the Premises shall have been restored and are rendered txxxxxable. If such damage or partial destruction renders the Rent allocated Premises untenantable only in part, the rent shall abate proportionately as to that the portion of the Premises so damaged rendered untxxxxxable. Notwithstanding the foregoing, if damage exceeding one-half (1/2) of the replacement cost above foundation has been incurred, Landlord may at its option terminate this Lease in the event insurance proceeds are not available to cover all or substantially all of the estimated cost of repair. Landlord shall cease exercise this option by written notice to Tenant within thirty (30) days after the fire or casualty causing such loss, damage or destruction, which notice shall be effective as of the date of such damage, and Lessee shall forthwith surrender that portion of the damaged Premises to Lessor; provided, however, that this Lease shall continue in full force and effect as to the remainder of the Premises. If this Lease is not so terminated, then Lessee shall repair the Premises as soon as reasonably practicable, and Lessor shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, and in such event Tenant shall not be obligated to pay any rent for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, fire or any other contingency beyond Lessee's control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premises, or for any restoration to the Premises made by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right to terminate this Lease without penalty by delivering written notice of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminatecasualty.

Appears in 1 contract

Samples: Lease (Quinton Cardiology Systems Inc)

DAMAGE BY CASUALTY. If, during the Initial Term term hereof, the premises or any Renewal Term(s) or this Lease and in building of which the sole judgment of Lessorpremises are a part, the Premises shall suffer damage by fire, explosion, providential means, or any other casualty (a) casualty, to the extent that the Premises premises or building cannot reasonably be repaired within 180 ninety days after date of such damage; or, (b) or to such an extent that under the extent existing laws, orders, ordinances or other public requirements the Premises same cannot be economically repairedrepaired to substantially the same form and with substantially the same materials as before such damage, then this Lease shall, at the option of Lessor, term hereby created shall terminate as to that portion of the Premises so damaged without penalty to Lessor as of the date of such damage and the Rent allocated to that portion of the Premises so damaged rent shall cease as of the date of such damage, and Lessee shall with proportionate refund of any prepayment, on condition Tenant forthwith surrender that portion of surrenders the damaged Premises premises to Lessor; provided, however, that this Lease shall continue in full force and effect as to the remainder of the PremisesLandlord. If this Lease is not so terminated, then Lessee Landlord shall repair the Premises premises as soon as reasonably practicablepracticable with due diligence, placing the same in as good condition as they were just before such damage, and Lessor rent shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, xxxxx pro rata and in such event Tenant shall not be obligated proportion to pay any rent for untenability of the period premises from the date time of such damage until restoration of the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancypremises by Landlord. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond Lessee's control Landlord’s control, shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor Tenant shall remove all of the rubbish and debris of Tenant’s property within thirty (30) days after written request by Landlord, and if this Lease is not thereby terminated, Tenant shall not do anything to hinder or delay Lessee's Landlord’s work or of repair, and will cooperate with Lessee Landlord in the performance of such repair or work. Lessor Landlord shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors Tenant by making repairs to any part of the Premisespremises or building, or nor for the restoration of any restoration to the Premises improvements made by LesseeTenant, nor for the restoration of any property of Tenant. Notwithstanding anything herein to the contrarycontrary herein, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering (i) if the Premises requires that are damaged by any or all of the insurance proceeds be applied to such indebtednessperil and Landlord does not terminate this Lease, then Lessor Tenant shall have the right option to terminate this Lease without penalty if the Premises cannot be, or are not in fact, fully restored by delivering written notice Landlord to their prior condition within ninety (90) days after the damage, and (ii) whenever rent is to be abated under this Lease, all rent and additional rent shall be equitably abated based upon the extent to which Tenant’s use of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminatethe Premises is diminished.

Appears in 1 contract

Samples: Lease (Alphasmart Inc)

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DAMAGE BY CASUALTY. Ifindustry in or about Wake County, during the Initial Term or any Renewal Term(s) or this Lease and in the sole judgment of Lessor, the Premises suffer damage by fire, explosionNorth Carolina, or any other casualty (a) to the such an extent that under the Premises cannot reasonably be repaired within 180 days after date of such damage; orthen existing laws, (b) to orders, ordinances or other public requirements the extent the Premises same cannot be economically repairedrepaired to substantially the same form and with substantially the same materials as before such damage, then this Lease the term hereby created shall, at the option of Lessoreither party exercised by written notice not later than sixty (60) days after the occurrence of such casualty, terminate as to that portion of the Premises so damaged without penalty to Lessor as of the date of such damage and the Rent allocated to that portion of the Premises so damaged rent shall cease as of the date of such damage, and damage (with proportionate refund of any prepayment) on condition Lessee shall forthwith surrender that portion of surrenders the damaged Premises premises to Lessor; provided, however, that this Lease shall continue in full force and effect as to the remainder of the Premises. If this Lease is not so terminated, then Lessee Lessor shall repair the Premises premises as soon as reasonably practicablepracticable with due diligence. A maximum of 120 days shall be considered a reasonable time in which to complete repairs barring any extraordinary circumstances or matters beyond the control of Lessor, placing the same in as good condition as they were just before such damage, and Lessor rent shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, abatx xxx rata and in such event Tenant shall proportion to untenantability of the premises (or if the undamaged portion is not be obligated to pay any rent reasonably usable for Lessee's purposes pending the period from restoration of the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantableBuilding, all rent shall be equitably abated for abatx) xxom the period from time of such damage until restoration of the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancypremises by Lessor. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond LesseeLessor's control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor Lessee shall remove all of the rubbish 21 -21- and debris of Lessee's property within sixty (60) days after written request by Lessor, and if this Lease is not thereby terminated, Lessee shall not do anything to hinder or delay LesseeLessor's work or of repair, and will cooperate with Lessee Lessor in the performance of such repair or work. Lessor shall not be liable for inconvenience to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premisespremises or Building, or nor for the restoration of any restoration to the Premises improvements made by Lessee, nor for the restoration of any property of Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right to terminate this Lease without penalty by delivering written notice of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminateterminate with proportionate refund of any prepayment.

Appears in 1 contract

Samples: Lease (Morton Industrial Group Inc)

DAMAGE BY CASUALTY. If, during the Initial Term or any Renewal Term(s) or this Lease and in the sole judgment of Lessor, the Premises suffer damage by fire, explosion, or any other casualty (a) to the extent that the Premises cannot reasonably be repaired within 180 days after date of such damage; or, (b) to the extent the Premises cannot be economically repaired, then this Lease shall, at the option of Lessor, terminate as to that portion of the Premises so damaged without penalty to Lessor as of the date of such damage and the Rent allocated to that portion of the Premises so damaged shall cease as of the date of such damage, and Lessee shall forthwith surrender that portion of the damaged Premises to Lessor; provided, however, that this Lease shall continue in full force and effect as to the remainder of the Premises. If this Lease is not so terminated, then Lessee Lessor shall repair the Premises as soon as reasonably practicable, and Lessor shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, and in such event Tenant shall not be obligated to pay any rent for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond Lessee's control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything to hinder or delay LesseeLesses's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premises, or for any restoration to the Premises made by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right to terminate this Lease without penalty by delivering written notice of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminate. Any allocation to Rent required under this Lease shall be made in accordance with the Allocation Schedule in Exhibit B, as adjusted on a pro rata basis for subsequent increases of rent.

Appears in 1 contract

Samples: Lease Agreement (Consolidated Communications Texas Holdings, Inc.)

DAMAGE BY CASUALTY. If(A) In case, during the Initial Term or any Renewal Term(s) or period in which this Lease and is in the sole judgment of Lessoreffect, the Premises suffer damage or a substantial portion thereof shall be destroyed or shall be so damaged by fire, explosion, fire or any other casualty (a) as to the extent that the Premises cannot reasonably be repaired within 180 days after date of such damage; or, (b) to the extent the Premises cannot be economically repairedbecome untenantable, then this Lease shall, in such event at the option of the Lessor, terminate as to that portion of the Lessee shall immediately surrender the Premises so damaged without penalty and all interest therein to Lessor as of the date of such damage and the Rent allocated to that portion of the Premises so damaged Term shall cease as of the date of such damagecease, and Lessee shall forthwith surrender that portion pay Rent and perform its other obligations hereunder only to the time of the damaged Premises to Lessorsuch surrender; provided, however, that Lessor shall exercise such option to so terminate this Lease by notice in writing delivered to the Lessee within sixty (60) days after such damage or destruction. In case the Lessor elects not to terminate this Lease, then this Lease shall continue in full force and effect as to and the remainder Lessor shall repair, rebuild or replace the damaged buildings or other improvements within one hundred eighty (180) days of the Premises. If this Lease is not so terminated, then Lessee shall repair date of written approval to commence reconstruction of the Premises as soon as reasonably practicable, damaged buildings by the insurance company insuring the property and Lessor shall assign any insurance proceeds to Lessee for issuance of building permits by the purpose of paying for such repairs, and in such event Tenant shall not be obligated to pay any rent for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, appropriate governmental intervention, acts of Godagencies, or any other contingency beyond Lessee's control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premises, or for any restoration to the Premises made by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right to terminate this Lease without penalty by delivering written notice to the Lessor and the Term shall immediately thereafter cease. The Lessor shall rebuild and replace the premises, utilizing the insurance proceeds payable as a result of termination the damage and destruction, to as good a condition as such premises were prior to the casualty. The Lessor shall bear the cost of any portion of such repair; replacement or rebuilding that is not covered by such insurance, including without limitation the deductible and the amount of any costs in excess of the limits of insurance coverage. Rent shall xxxxx during the period of untenantability and the term of the Lease shall be extended, at the option of the Lessee, whereupon for the period of time the premises are untenantable. Regardless of whether the Lease is terminated, Lessee shall cause all rights its rubbish, debris, merchandise, furniture, equipment and obligations hereunder other of its personal property to be removed from the Premises within thirty (30) days after the request of the Lessor subject to the consent and approval of the appropriate governmental agencies and the insurance companies. The Lease shall cease commence and terminatethe Lessee shall re-occupy the premises upon issuance of a new certificate of occupancy after reconstruction.

Appears in 1 contract

Samples: Agreement (Naturewell Inc)

DAMAGE BY CASUALTY. If, during (A) If the Initial Term Demised Premises is damaged or any Renewal Term(s) or this Lease and in the sole judgment of Lessor, the Premises suffer damage destroyed ------------------ by fire, explosionthe elements, subsidence of sublateral or subjacent support or other casualty, Landlord shall within thirty (30) days after receipt of diligently pursued permits begin repairs and shall restore the Demised Premises or any such other store to its condition just prior to the damage, within ninety (90) days after receipt of such permits, or Tenant may cancel this Lease. (B) If Tenant is not actually open for business during all or any other casualty (a) to the extent that the Premises cannot reasonably be repaired within 180 days after date of such damage; or, (b) to the extent the Premises cannot be economically repaired, then this Lease shall, at the option of Lessor, terminate as to that portion part of the Premises so damaged without penalty to Lessor as of period ("Restoration Period") from the date of such damage and or destruction as aforesaid until the date the Demised Premises is redelivered to Tenant in accordance with the terms of this Lease, all Rent or other sums payable hereunder shall xxxxx for such period as Tenant is not open for business without causing default by Tenant. If Tenant is open for business during the Restoration Period, the Rent allocated and other sums payable hereunder shall xxxxx in proportion to that portion of the Premises so damaged shall cease as of the date of such damage, and Lessee shall forthwith surrender that portion of the damaged Premises to Lessorusable space; provided, however, that this Lease shall continue in full force and effect as to the remainder if Landlord does not proceed diligently with restoration of the Demised Premises. If this Lease is not so terminated, then Lessee shall repair the Premises as soon as reasonably practicable, all Rent and Lessor shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, and in such event Tenant shall not be obligated to pay any rent for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. Rent other sums payable hereunder shall xxxxx on a per diem basiswithout causing default by Tenant. (C) If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond Lessee's control building erected on Entire Premises is damaged or destroyed by fire, the elements, subsidence of sublateral or subjacent support or other casualty, Landlord shall delay the construction. In case of within ninety (90) days promptly and diligently either (i) repair and restore such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything other building to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premises, or for any restoration to the Premises made by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor shall have the right to terminate this Lease without penalty by delivering written notice of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminate.its condition just prior

Appears in 1 contract

Samples: Lease Agreement (West Marine Inc)

DAMAGE BY CASUALTY. If, during If the Initial Term Premises or any Renewal Term(sthe Building shall be destroyed or shall be so damaged by fire or other casualty as to become untenantable then Landlord within 7 days of the damage shall determine whether the premises can be made tenantable within one hundred and eighty (180) or this Lease days. If Landlord is able to restore the building within one hundred and in the sole judgment of Lessoreighty (180) days, the Lease shall continue in full force and effect and Landlord shall repair the Leased Premises suffer damage with due diligence, placing Tenant in as good a condition as it was at the time of the Damage by fireCasualty, explosion, or any other casualty (a) and for that purpose may enter the Premises and rent shall xxxxx in proportion to the extent that the Premises and duration of untenantability. If Landlord cannot reasonably be repaired restore the premises within 180 days after date one hundred and eighty (180) days, or Landlord is unable, within reason, to place Tenant in as good a condition as it was at the time of such damage; orthe Damage by Casualty, (b) to the extent the Premises cannot be economically repaired, then this Lease shallthen, at the option of LessorTenant or Landlord, terminate as to that portion the term of the Premises so damaged without penalty to Lessor as of this Lease shall cease, and this Lease shall become null and void from the date of such damage or destruction and the Rent allocated to that portion of Tenant shall immediately surrender the Premises so damaged shall cease as of and all interest in the date of such damagePremises to Landlord, and Lessee Tenant shall forthwith surrender pay rent only to the time of surrender. Tenant or Landlord must exercise such option to so terminate this Lease by notice in writing delivered to the other party within (5) five days after notice is given by the Landlord that portion of the damaged Premises property cannot be restored in one hundred and eighty (180) days. If Tenant or Landlord does not elect to Lessor; providedterminate this Lease, however, that this Lease shall continue in full force and effect as to the remainder of the Premises. If this Lease is not so terminated, then Lessee and Landlord shall repair the Leased Premises with due diligence, placing them in as soon good a condition as reasonably practicablethey were at the time of the damage or destruction, and Lessor for that purpose may enter the Premises and rent shall assign any insurance proceeds xxxxx in proportion to Lessee for the purpose extent and duration of paying for such repairs, and in such event untenantability. Should the Landlord notify Tenant shall that the premises can or cannot be obligated to pay any rent for restored in (180) days but Tenant does not believe the period from premises can or cannot be restored in the date the Premises are rendered untenantable until the Premises are again fit one hundred and ready for Tenant's use and occupancy. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such eighty (180) day time during which strikes, riots, civil commotion, governmental intervention, acts of Godperiod, or any other contingency beyond Lessee's control shall delay Landlord and Tenant disagree about whether Landlord can place Tenant in as good a condition as it was at the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part time of the Premises, or for any restoration to the Premises made Damage by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtednessCasualty, then Lessor Tenant or Landlord shall have the right to terminate this Lease without penalty apply to the District Court of Xxxxxxx County Kansas for a hearing in front of a District Court Judge to decide whether the Landlord can reasonably restore possession in one hundred and eighty (180) days. Tenant and Landlord agree that the hearing in District Court should be an expedited hearing to the Court. Landlord and Tenant shall cooperate to have the hearing in an expedited fashion. The District Court shall have the right to determine whether the Landlord can reasonably restore possession to the Tenant within the one hundred and eighty (180) day time period and/or whether Landlord can place Tenant in as good a condition as it was at the time of the Damage by delivering written notice of termination to Lessee, whereupon all rights and obligations hereunder shall cease and terminateCasualty.

Appears in 1 contract

Samples: Commercial Lease Agreement

DAMAGE BY CASUALTY. If, during the Initial Term or any Renewal Term(s) or this Lease and in the sole judgment of Lessor, the Premises suffer damage If Tenant’s Building is damaged by fire, explosionthe elements or other casualty, or any other casualty regardless of whether such Casualty is insured (a) collectively, a “Casualty”), Tenant, at Tenant’s sole cost and expense, will promptly repair all damage and restore Tenant’s Building to substantially the same condition as existed immediately prior to the extent that Casualty (subject to Section 17.3). Tenant shall commence the Premises cannot reasonably be repaired permitting and repair process promptly and shall use all reasonable efforts to complete the repair and/or restoration (collectively, the “Repairs”) within 180 270 days after date the occurrence of such damage; orCasualty, (b) to the extent the Premises cannot be economically repaired, then this Lease shall, at the option of Lessor, terminate as to that portion of the Premises so damaged without penalty to Lessor as of the date of such damage and the Rent allocated to that portion of the Premises so damaged shall cease as of the date of such damage, and Lessee shall forthwith surrender that portion of the damaged Premises to Lessor; provided, however, that this Lease shall continue in full force and effect as to the remainder of the Premises. If this Lease is not so terminated, then Lessee shall repair the Premises as soon as reasonably practicable, and Lessor shall assign any insurance proceeds to Lessee for the purpose of paying for such repairs, and in such event Tenant shall not be obligated in default under this Section 17.1 if Tenant fails to pay any rent for complete the period from repair and/or restoration within this period, so long as Tenant is proceeding diligently, using all reasonable efforts, to complete the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancyrepair and/or restoration. Rent shall xxxxx on a per diem basis. If the Premises are rendered partially untenantable, rent shall be equitably abated for the period from the date the Premises are rendered untenantable until the Premises are again fit and ready for Tenant's use and occupancy. It is further agreed that the period for reconstruction shall be extended for such time during which strikes, riots, civil commotion, governmental intervention, acts of God, or any other contingency beyond Lessee's control shall delay the construction. In case of such damage, whether this Lease is thereby terminated or not, Lessor shall not do anything to hinder or delay Lessee's work or repair, and will cooperate with Lessee in the performance of such repair or work. Lessor shall not be liable to Lessee for any business interruption, loss, liability, property damage, personal injury or inconvenience to Lessee, or Lessee's employees, agents or contractors by making repairs to any part of the Premises, or for any restoration to the Premises made by Lessee. Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Premises requires that any or all of the insurance proceeds be applied to such indebtedness, then Lessor Landlord shall have the right to terminate this Lease without penalty by delivering written notice inspect and monitor Tenant’s Repairs to confirm compliance with original plans and specifications for Tenant’s Building as well as compliance with applicable laws. Landlord shall not have approval rights thereover so long as Tenant’s Building is rebuilt (i) to the same footprint of termination Tenant’s Building existing immediately prior to Lesseethe Casualty, whereupon and (ii) in accordance with the plans and specifications for Tenant’s Building which were originally used when Tenant’s Building was first constructed. All Repairs shall be done in a good and workmanlike and lien-free manner and Tenant shall indemnify, defend and hold Landlord and Landlord’s lender harmless from and against all rights claims, loss, liens, damage and obligations hereunder costs arising from or related to such Repairs. Furthermore, Tenant shall cease obtain (and terminatedeliver to Landlord copies of) (i) unconditional lien waivers from any general contractor and all subcontractors and material suppliers whose work exceeds $[25,000], (ii) construction contracts relating to such Repairs, (iii) close-out manuals and warranties relating to such Repairs, (iv) copies of all change orders, and (v) copies of all third party certificates and inspections performed in connection with such Repairs (and Tenant shall insure that any such certificates or third party reports prepared in connection with such Repairs are also certified to Landlord and Landlord’s lender).

Appears in 1 contract

Samples: Agreement and Plan of Merger (Safeway Inc)

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