Common use of Damage by Fire or Other Casualty Clause in Contracts

Damage by Fire or Other Casualty. If the Leased Premises shall be damaged by fire or other casualty resulting from any fault, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abated.

Appears in 3 contracts

Samples: Lease Agreement (MST Enterprises Inc), Lease Agreement (MST Enterprises Inc), Lease Agreement (MST Enterprises Inc)

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Damage by Fire or Other Casualty. If In the Leased event the Premises shall be damaged partially or totally destroyed by fire or other casualty resulting from any faultinsured under the insurance carried by Landlord so as to become partially or totally untenantable, negligence, or willful act of Tenant, its agents, employees or invitees, such then the damage to the Premises shall be promptly repaired by (unless Landlord shall elect not to rebuild as herein provided), and the Base Rent and Additional Rent shall be abated in proportion to the floor area of the Premises rendered untenantable. Payment of full rental so abated shall commence from the 5th day following the date that Landlord advises Tenant that the Premises are tenantable, unless Tenant resumes the use at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If an earlier time in the last year of a Term damaged area or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire continues use in such area following destruction or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destructiondamage, in which event neither party hereto there shall thereafter have be no abatement or any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease such abatement shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions terminate as of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration Tenant’s resumption of the Leased Premises to substantially the same condition existing prior to such damageuse, the Monthly Rent payable whichever shall apply. The obligation of Landlord hereunder shall be proportionately abatedlimited to reconstructing the Premises in accordance with the initial Plans for the original construction of the Premises by Landlord. In no event shall Landlord be required to repair or replace Tenant’s merchandise, trade fixtures, furnishings or equipment. The term of the Lease shall not be extended by any period for which the Premises are untenantable due to such casualty.

Appears in 3 contracts

Samples: Assignment and Assumption of Lease, Assignment and Assumption of Lease (Veri-Tek International, Corp.), Assignment and Assumption of Lease (Veri-Tek International, Corp.)

Damage by Fire or Other Casualty. a. If the Leased Premises shall be or Building is damaged or destroyed by fire or other casualty resulting from any faultcasualty, negligenceTenant shall promptly notify Landlord whereupon Landlord shall, subject to the consent of Landlord’s present or willful act of Tenantfuture mortgagee and to the conditions set forth in this Section 18, its agentsrepair, employees rebuild or invitees, replace such damage and restore the Premises to substantially the same condition as the Premises were in immediately prior to such damage or destruction; provided, however, that Landlord shall only be obligated to restore such damage or destruction to the extent of the proceeds of fire and other extended coverage insurance policies. Notwithstanding the foregoing, if the Premises is destroyed or damaged to the extent that in Landlord’s sole judgment the Premises cannot be repaired or restored within one hundred eighty (180) days after such casually as determined by and at the expense of Landlord (such determination being promptly provided to Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extensionwriting), if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, either Landlord or Tenant shall have the option to may terminate this Lease by written notice delivered of its election to do so to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration Landlord’s determination of the Leased Premises time to substantially restore. If the same condition existing prior Lease is so terminated, the termination will be effective as of the date of the casualty and all Fixed Basic Rent and Additional Rent shall xxxxx from such date, and any Fixed Basic Rent or Additional Rent paid for any period beyond such date and all other charges as to such damage, the Monthly Rent payable hereunder Premises shall be proportionately abatedrefunded to Tenant.

Appears in 2 contracts

Samples: Sublease Agreement, Sublease Agreement (Nabriva Therapeutics AG)

Damage by Fire or Other Casualty. If If, during the Leased term of this Lease, the Premises shall be damaged by fire or other casualty resulting from any fault, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises be rendered wholly or partially untenantable, thenrent shall axxxx while untenantable; provided that if the Premises are rendered only partially untenantable for Tenant’s purposes and proper conduct of its business as reasonably determined by Landlord, Landlord or Tenant then the rent shall have the option to terminate this Lease by written notice delivered be abated proportionately according to the other party portion of the Premises thus rendered untenantable. In the event of such damage the Landlord shall, within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of after such damage, elect whether to repair the Premises or to cancel the Lease, and shall notify the Tenant in writing of its election. In the event the Landlord elects to repair the Premises, the repair work shall have begin promptly and shall be carried on without unnecessary delay. In the right event Landlord elects not to repair the Premises, the Lease shall be deemed canceled as of the date of the damage. In the event that the Building is destroyed to the extent of not less than twenty-five percent (25%) of its replacement cost, Landlord may elect to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For whether the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedare damaged or not.

Appears in 1 contract

Samples: Lease (Professional Veterinary Products LTD /Ne/)

Damage by Fire or Other Casualty. If In the Leased event the Premises shall be damaged by fire fire, or other casualty resulting casualty, the Tenant shall give immediate notice thereof to the Landlord, and after such notice, an equitable reduction of rent shall be allowed the Tenant for the time such part or parts of Premises shall remain untenantable or incapable of use and occupancy, and this Lease shall continue in full force and effect, and the Landlord shall at its own expense, with reasonable promptness, subject to delays beyond Landlord’s control and delays in making of insurance adjustments by Landlord, repair the premises. If the damage results from any fault, negligence, the act or willful act omission of Tenant, its or Tenant’s agents, employees or invitees, such damage Tenant shall, at its own expense, with reasonable promptness, repair the Premises, and Tenant shall not be entitled to any abatement or reduction of rent. Landlord need not restore fixtures and improvements owned by Tenant. In the event the Premises or the Building shall before or after the commencement of the term, be so damaged that the Landlord shall decide not to repair the same, or if the Landlord shall decide to demolish or rebuild the same, for any reason whatsoever, upon notice to Tenant, the term of this Lease shall cease and terminate, and the accrued rent, if any, shall be repaired by and at paid up to the expense time of Tenant under the direction and supervision damage or such termination. All proceeds of Landlord and rent shall continue without abatement. If in the last year insurance payable as a result of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make shall be the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions sole property of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedLandlord.

Appears in 1 contract

Samples: Agreement of Lease

Damage by Fire or Other Casualty. If the Leased Premises shall be damaged by fire or other casualty resulting from any fault, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following In the event of such damage, if -------------------------------- such damage can be repaired within sixty (60) days after it is determined that there are substantially sufficient insurance proceeds to repair the damage, then Landlord shall so repair the Leased Premises. If such damage cannot be repaired within that time, or destructionif there are insufficient insurance proceeds available to make such repairs, then Landlord shall elect whether to repair the Leased Premises or cancel this lease, and shall notify Tenant in which event neither party hereto shall thereafter have any further future obligations hereunderwriting of its election within sixty (60) days after the allowance of the claim for insurance proceeds. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord elects to repair the Leased Premises, the work or repair shall promptly begin promptly, and diligently shall be carried on without unnecessary delay. In the event Landlord or Tenant elects not to repair and restore the damaged Leased Premises, the lease shall be deemed canceled as of the date Landlord gives notice to Tenant as provided above. Such damage shall not extend the lease term. Tenant shall not be entitled to any damages by reason of any inconvenience or destroyed portions loss sustained by Tenant as a result of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that any portion thereof being untenantable while the Leased Premises were rendered untenantable is being repaired; unless such damages are caused by Landlord's gross negligence, or in the event Landlord elects to cancel the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedlease as provided above.

Appears in 1 contract

Samples: Retail Lease (Colorado Business Bankshares Inc)

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Damage by Fire or Other Casualty. If 18.1 Unless this Lease is terminated pursuant to the Leased provisions contained in this Section 18, if the Demised Premises shall be damaged by fire or other casualty resulting casualty, Landlord shall, as soon as practicable after such damage occurs (subject to being able to obtain all necessary permits and approvals, including, without limitation, permits and approvals required from any faultagency or body administering environmental laws, negligencerules or regulations, and taking into account the time necessary to effectuate a satisfactory settlement with any insurance company) repair such damage at Landlord’s expense, provided Tenant shall be obligated to assign all its insurance proceeds, or willful act self-insured amounts equal to full replacement costs for all of Tenant’s leasehold improvements, its agentsincluding Tenant’s Work and any alterations, employees improvements, additions or inviteeschanges to the Demised Premises made by Tenant, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of to Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force not terminate (except as provided herein). It is understood and effectagreed that the Project, in which event Landlord shall promptly and diligently repair and restore the whether partially or totally damaged or destroyed portions of the Leased Premises destroyed, will be restored to substantially the same condition existing as existed prior to such damage or destruction. Should Landlord fail If the Project is so substantially damaged that it is reasonably necessary, in Landlord’s judgment, to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially demolish the same condition existing prior to for the purpose of reconstruction, Landlord may demolish the same, in which event Landlord may treat such demolition as if it had been caused by the same event as that which caused the damage, the Monthly Rent payable hereunder shall be proportionately abated.

Appears in 1 contract

Samples: Lease Agreement (Laclede Group Inc)

Damage by Fire or Other Casualty. If If, during the Leased Premises shall be term of this Lease, the real estate is so damaged by fire or other casualty resulting from any faultthat the real estate or the premises are rendered unfit for occupancy, negligence, or willful act of as determined by Landlord and Tenant, its agentsand Landlord gives Tenant written notice to that effect, employees then this Lease shall cease and terminate from the date of such damage. In such case, Tenant shall pay the rent apportioned to the time of damage and shall immediately surrender the premises to the Landlord upon Landlord's request therefor. If, following damage to the premises for cause other than by Tenant's acts or inviteesomissions to act, Landlord gives Tenant written notice that it has determined that such damage can be repaired within ninety (90) days from the date of damage, Landlord, if it so elects, may enter and repair, and this Lease shall not be affected except that the rent shall be apportioned and suspended while such repairs are being made until the premises are again suitable for occupancy. If, however, such damage is caused by Tenant's acts or failure to act, and Landlord elects, in accordance with this paragraph, to repair, then Tenant's obligation to pay rent shall not be suspended, nor shall such rent be apportioned but Tenant shall be repaired by and at obligated to pay the expense full rent reserved in accordance with the terms of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should be so badly damaged by fire or other casualty as to make the Leased Premises untenantable, then, Landlord or Tenant shall have the option to terminate this Lease by written notice delivered to the other party within thirty (30) days following the event during such period of such damage or destruction, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to the contrary, this Lease shall continue in force and effect, in which event Landlord shall promptly and diligently repair and restore the damaged or destroyed portions of the Leased Premises to substantially the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedrepair.

Appears in 1 contract

Samples: Center Lease (Tower Financial Corp)

Damage by Fire or Other Casualty. If the Leased Premises shall be damaged by fire or other casualty resulting from any faultinsured against by Landlord’s fire and extended coverage insurance policy covering the School, negligence, or willful act of Tenant, its agents, employees or invitees, such damage shall be repaired by and at the expense of Tenant under the direction and supervision of Landlord and rent shall continue without abatement. If in the last year of a Term or any Extension, if applicable, improvements on the Leased Premises should can be so badly damaged fully repaired, in Landlord’s opinion, within one hundred and twenty (120) days from the date of such damage, Landlord, at Landlord’s sole cost and expense, shall repair such damage to Tenant’s satisfaction. Except as otherwise provided herein, until the repairs to the Leased Premises are substantially completed, the Rent and Ancillary Services Charge shall xxxxx pro-rata based on the part of the Leased Premises which is unusable by Tenant. If, however, the Leased Premises are rendered wholly untenantable by fire or other casualty cause as to make determined by the local fire marshal having jurisdiction over the Leased Premises, or such other duly-authorized governmental individual or entity having jurisdiction over said matters, and the Landlord shall decide not to rebuild the same, or if the entire Leased Premises untenantablebe so damaged that Landlord shall decide to demolish it or not to rebuild it, thenthen or in any of such events, Landlord or Tenant shall have the option to may, at its option, cancel and terminate this Lease by written giving Tenant notice delivered to the other party in writing, within thirty (30) days following of the occurrence of the event causing the damage, of such damage or destructionits intention to cancel this Lease, in which event neither party hereto shall thereafter have any further future obligations hereunder. In any other event, unless mutually agreed to whereupon the contrary, term of this Lease shall continue in force terminate upon the thirtieth (30th) day after such notice is given and effect, in which event Landlord Tenant shall promptly and diligently repair and restore the damaged or destroyed portions of vacate the Leased Premises to substantially and surrender the same condition existing prior to such damage or destruction. Should Landlord fail to substantially complete repair or rebuilding of such improvements within 180 days of such damage, Tenant shall have the right to terminate this Lease by notice to Landlord within 30 days after such 180 days period. For the period beginning on the date that the Leased Premises were rendered untenantable to the date of restoration of the Leased Premises to substantially the same condition existing prior to such damage, the Monthly Rent payable hereunder shall be proportionately abatedLandlord.

Appears in 1 contract

Samples: Lease Agreement

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