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

Damage by Fire or Other Casualty. In the event the Demised Premises, or any part thereof, shall be damaged by fire or other casualty during the term, Landlord agrees that it will restore the Demised Premises, with reasonable dispatch, to substantially the same condition they were in prior to such damage, and if the Demised Premises are rendered wholly or partially untenantable as a result of such damage, the Base Rent and all Additional Rent payable hereunder shall be equitably abated (according to the loss of use) during the period intervening between the date of such damage and the date the Demised Premises are restored. Anything in the foregoing to the contrary notwithstanding, if such damage occurs during the last two (2) years of the term, and if such damage exceeds fifty percent (50%) of the then insurable value of the Demised Premises, either Landlord or Tenant may terminate this lease as of the date of such damage, by giving to the other written notice of its intention so to do within thirty (30) days after the date such damage occurs; provided, however, that if this lease gives Tenant an option to extend the term (other than automatic renewal as set forth in paragraph 2) and Tenant extends the term of this lease for at least two (2) years by exercising such option within thirty (30) days after the time such fire or other casualty occurs, neither Landlord nor Tenant shall have the right to terminate this lease. If this lease is so terminated, the rental payable hereunder shall be abated as of the date of such damage, and Tenant shall remove all of its property from the Demised Premises within thirty (30) days after the notice of termination is given.

Appears in 1 contract

Samples: Shopping Center Lease (Jacobs Entertainment Inc)

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Damage by Fire or Other Casualty. In 22.1 If the event the Demised Premises, or any part thereof, Premises shall be damaged by fire or other casualty during not arising from the termfault or negligence of Tenant or its servants, Landlord agrees that it will restore the Demised Premisesagents, with reasonable dispatchemployees, to substantially the same condition they were invitees or licensees or, if such damage irrespective of cause shall be insured: (1) except as otherwise provided in prior to such damage, and if the Demised Premises are rendered wholly or partially untenantable as a result of such damagesubsection (2) hereof, the Base damage shall be repaired by and at the expense of Landlord (subject to the receipt of applicable insurance proceeds) and the Basic Rent and all Additional Rent payable hereunder until such repairs shall be made shall be equitably abated (according to the loss part of use) during the period intervening between the date of Premises which is usable by Tenant, unless such damage and was caused by the date the Demised Premises are restoredfault or negligence of Tenant or its servants, agents, employees, invitees, or licensees, in which case no abatement of Basic Rent or Additional Rent shall be made. Anything in the foregoing Landlord agrees, at its expense, to repair promptly any damage to the contrary notwithstandingPremises, if such damage occurs during the last two except that Tenant agrees to repair or replace its own furniture, furnishings and equipment. No penalty shall accrue due to an Excusable Delay. (2) years If the Premises are totally damaged or are rendered wholly untenantable by fire or other casualty, or if Landlord's architect certifies that it cannot be repaired within nine (9) months of the termcasualty or if Landlord shall decide not to restore or repair same, and if such damage exceeds fifty percent (50%) of or shall decide to demolish the Building or to rebuild it, then insurable value of the Demised PremisesLandlord shall, either Landlord or Tenant may terminate this lease as of the date of such damage, by giving to the other written notice of its intention so to do within thirty (30) days after final adjustment of all the date such damage occurs; provided, however, that if this lease gives Tenant an option to extend the term (other than automatic renewal as set forth in paragraph 2) and Tenant extends the term of this lease for at least two (2) years by exercising such option within thirty (30) days after the time insurance claims from such fire or other casualty, give Tenant a notice of such circumstance or decision, and thereupon the Term shall expire ten (10) days after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. (3) If Landlord fails to complete the repair and restoration of the Premises within nine (9) months from the date of the casualty occurs, neither Landlord nor (subject to Excusable Delays) then Tenant shall have the right to cancel and terminate this lease. If this lease is so terminated, Lease upon the rental payable hereunder shall be abated as delivery of the date of such damage, and Tenant shall remove all of its property from the Demised Premises a notice to Landlord delivered within thirty fifteen (3015) days after the notice expiration of termination is giventhe aforesaid nine (9) month period. (4) Landlord agrees that it shall diligently pursue all repair and restoration work required on its part to be completed hereunder.

Appears in 1 contract

Samples: Trey Industries Inc

Damage by Fire or Other Casualty. In If the event the Demised Premises, or any part thereof, Premises shall be damaged or destroyed by fire or other casualty during casualty, Tenant shall promptly notify Landlord, and Landlord, subject to any mortgagee's consent to the termconditions set forth in this Section 12, Landlord agrees that it will and subject also to the provisions of Paragraph (b) below, shall repair, rebuild or replace such damage and restore the Demised Premises, with reasonable dispatch, Premises to substantially the same condition in which they were in immediately prior to such damagedamage or destruction; provided further, and that if the Demised Premises are rendered wholly or partially untenantable as a result of such damage, the Base Rent and all Additional Rent payable hereunder shall be equitably abated (according to the loss of use) during the period intervening between the date of such damage and the date the Demised Premises are restored. Anything in the foregoing to the contrary notwithstanding, if such damage casualty occurs during the last two twelve (212) years months of the termTerm or any extension thereof, Landlord may cancel this lease. The work shall be commenced promptly and completed with due diligence, taking into account the time required by Landlord to effect a settlement with, and if such damage exceeds fifty percent procure insurance proceeds from, the insurer, and for delays beyond Landlord's reasonable control. In the event that, in the reasonable opinion of a reputable contractor or architect designated by Landlord (50%the "Rebuilding Report"), and communicated to Tenant, the work cannot reasonably be completed within one hundred eighty (180) days of the then insurable value casualty, Landlord may terminate this lease by written notice to Tenant within ten (10) business days after Landlord receives the Rebuilding Report. In addition, if the Rebuilding Report shows that the work cannot reasonably be completed within two hundred ten (210) days of the Demised Premisescasualty, either Landlord or Tenant may terminate this lease as Lease by written notice to Landlord within ten (10) business days after Tenant receives the Rebuilding Report, but such termination must occur before Landlord has started repair and restoration. The net amount of any insurance proceeds (excluding proceeds received pursuant to a rental coverage endorsement) recovered by reason of the date damage or destruction of the Premises in excess of the cost of adjusting the insurance claim and collecting the insurance proceeds (such damageexcess amount being hereinafter called the "net insurance proceeds") shall be applied towards the reasonable cost of restoration. If in Landlord's reasonable opinion the cost of completing such restoration will exceed the net insurance proceeds despite Landlord's compliance with Section 7(e)(i), by giving to Landlord shall have the other written notice of its intention so to do right, within thirty (30) days after of the date such damage occurs; providedcasualty, however, that if to terminate this lease gives Tenant an option and all the unaccrued obligations of the parties hereto by sending a written notice of such termination to extend Tenant, the term notice to specify a termination date no less then ten (other than automatic renewal as set forth in paragraph 2) and Tenant extends the term of this lease for at least two (2) years by exercising such option within thirty (3010) days after its transmission. Landlord's obligation or election to restore the time such fire Premises under this Section shall include the repair, restoration or other casualty occurs, neither Landlord nor Tenant shall have the right to terminate this lease. If this lease is so terminated, the rental payable hereunder shall be abated as replacement of the date base Building and the Tenant Improvements, but shall not include fixtures, alterations, furniture or any other property owned, installed, made by, or in the possession of such damage, and Tenant. Rent shall equitably axxxx for any period that Tenant shall remove is unable to use all or a portion of its property from the Demised Premises within thirty (30) days after the notice as a result of termination is givena casualty normally covered by an "all risk" type of insurance policy.

Appears in 1 contract

Samples: Lease Agreement (Auxilium Pharmaceuticals Inc)

Damage by Fire or Other Casualty. In the event the Demised Premises, or any part thereof, shall be damaged by If fire or other casualty during insurable under a standard fire and extended risk policy of insurance as issued in the term, Landlord agrees that it will restore State of Arizona from time to time shall render the Demised Premises, with reasonable dispatch, to substantially whole or any material portion of the same condition they were in prior to such damagePremises untenantable, and if the Demised Premises are rendered wholly or partially untenantable as a result can reasonably be expected to be repairable within one hundred eighty (180) days from the date of such damageevent, then Lessor shall repair and restore the Base Rent Premises and all Additional Rent payable hereunder shall be equitably abated (according the Shopping Center Tract to as near their condition prior to the loss of usefire or other casualty as is reasonably possible within such one hundred eighty (180) during the day period intervening between (subject to delays for causes beyond Lessor's reasonable control) and notify Lessee that it will be doing so, such notice to be mailed within ninety (90) days from the date of such damage or destruction, and this Lease shall remain in full force and effect, but the Annual Minimum Rent and other charges for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which is untenantable). If fire or other casualty insurable under a standard fire and extended policy issued from time to time in the State of Arizona shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be repairable within one hundred eighty (180) days from the date of such event, or if an uninsurable casualty shall render the Demised whole or any portion of the Premises are restored. Anything untenantable, then Lessor, by notice in writing to Lessee mailed within ninety (90) days from the foregoing to the contrary notwithstanding, if date of such damage occurs during or destruction may terminate this Lease effective upon a date within thirty (30) days from the last two (2) years date of such notice. In the term, and if such damage exceeds event that more than fifty percent (50%) of the then insurable value of the Demised PremisesShopping Center Tract is damaged or destroyed by fire or other casualty, either Landlord and irrespective of whether such damage or Tenant destruction can be repaired within one hundred eighty (180) days thereafter, then at Lessor's option, by written notice to Lessee mailed within ninety (90) days from the date of such damage or destruction, Lessor may terminate this lease Lease effective upon a date within ninety (90) days from the date of such notice to Lessee. If fire or other casualty, whether or not insurable under a standard fire and extended risk policy, shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be repairable within one hundred eighty (180) days from the date of such event and Lessor does not terminate this Lease pursuant to its rights herein, or in the event that more than fifty percent (50%) of the value of the Shopping Center Tract is damaged or destroyed by fire or other casualty and Lessor does not terminate this Lease pursuant to its option granted herein, or in the event that fifty percent (50%) or less of the value of the Shopping Center Tract is damaged or destroyed by fire or other casualty and neither the whole nor any material portion of the Premises is rendered untenantable, then Lessor shall repair and restore the Premises and the Shopping Center Tract to as near their condition prior to the fire or other casualty as is reasonably possible within that time period reasonably necessary for such repair and restoration (subject to delays for causes of the type described in Article XXIII.V) and the Annual Minimum Rent and other charges for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which is untenantable). In no event shall Lessor be obligated to repair or restore any special equipment or improvements installed by Lessee. Lessor's obligation to rebuild and repair under this Article shall in all events be limited to the extent of the insurance proceeds available to Lessor for such restoration, and Lessee agrees that promptly after completion of such work by Lessor, it will proceed with reasonable diligence and at its sole cost and expense to rebuild, repair and/or replace its signs, fixtures and equipment. In the event of a termination of this Lease pursuant to this Article, Rent and other charges shall be apportioned on a per diem basis and paid to the date of such termination. Notwithstanding anything to the contrary herein contained, in the event the Premises shall be damaged or destroyed by fire or otherwise in excess of thirty percent (30%) of the full replacement cost of the Premises, during the last year of the Term, either party shall have the option to terminate this Lease as of the date of such damage, damage or destruction by giving written notice to the other written notice of its intention so to do party within thirty ninety (3090) days after the date such damage occurs; provided, however, that if this lease gives Tenant an option to extend the term (other than automatic renewal as set forth in paragraph 2) and Tenant extends the term of this lease for at least two (2) years by exercising such option within thirty (30) days after the time such fire or other casualty occurs, neither Landlord nor Tenant shall have the right to terminate this lease. If this lease is so terminated, the rental payable hereunder shall be abated as of following the date of such damage, and Tenant shall remove all of its property from the Demised Premises within thirty (30) days after the notice of termination is givendamage or destruction.

Appears in 1 contract

Samples: Arizona Furniture Co

Damage by Fire or Other Casualty. In the event of any damage or loss to the Demised PremisesLeased Premises by reason of fire or other casualty, Tenant will give immediate notice thereof to Landlord. If the Leased Premises are partially damaged or any part thereof, shall be damaged destroyed by fire or other casualty during the termcasualty, Landlord agrees that it will restore the Demised Premises, with reasonable dispatch, to substantially the same condition they were in prior to such damage, and if the Demised Premises are rendered wholly or partially untenantable as a result of such damage, the Base Rent and all Additional Rent payable hereunder shall be equitably abated (according to the loss of use) during the period intervening between the date of such damage and the date the Demised Premises are restored. Anything in the foregoing to the contrary notwithstanding, if such damage occurs during the last two (2) years of the term, and if such damage exceeds fifty percent (50%) of the then insurable value of the Demised Premises, either Landlord or notify Tenant may terminate this lease as of the date of such damage, by giving to the other written notice of its intention so to do within thirty (30) days after the date fire or casualty, whether or not the Leased Premises can be restored within one hundred twenty (120) days from such notice. In the Landlord’s sole judgment, if the Leased Premises can be restored within one hundred twenty (120) days, Landlord will restore the same at Landlord’s expense and will use its best efforts to complete restoration within said time period. In the event the damage occurs; providedcannot be restored within one hundred twenty (120) days, howevereither party, that if this lease gives Tenant an option by written notice to extend the term other within five (other than automatic renewal as set forth in paragraph 25) and Tenant extends the term days after receipt of this lease for at least two (2) years by exercising such option within notice, to be effective thirty (30) days after receipt of such notice, may terminate this Lease and all obligations hereunder. Notwithstanding the time foregoing, in no event will Landlord be obligated to expend for any repairs or restoration an amount in excess of the insurance proceeds recovered by Landlord on account of such damage or destruction. In the event of repair or restoration as herein provided, Minimum Rent and Additional Rent will be abated equitably, in a manner proportionate with the degree in which Tenant’s use of the Leased Premises is impaired commencing the date of destruction and continuing during the period of restoration. Tenant will continue operation of its business in the Leased Premises during any such period to the extent commercially practicable and the obligation of Tenant hereunder to pay all other charges set forth herein will remain in full force and effect. Tenant will not be entitled to actual or consequential damages or other compensation or damages from Landlord for loss of use of the whole or any part of the Leased Premises, or the Building which forms a part of the Leased Premises, Tenant’s personal property or any inconvenience or annoyance occasioned by such damage or reconstruction. Notwithstanding the foregoing to the contrary, if any such fire or other casualty occursis as a result of the negligence or willful acts of Tenant, neither Landlord nor Tenant shall will not have the right to terminate this lease. If this lease is so terminated, the rental payable hereunder shall be abated Lease as of the date of such damageaforesaid, and Tenant shall remove all will, at Tenant’s sole cost and expense, promptly repair and restore the Leased Premises, and any portion of its property from the Demised Premises within thirty (30) days after the notice Building so damaged as a result of termination is givenTenant’s conduct.

Appears in 1 contract

Samples: Lease Agreement (TRM Corp)

Damage by Fire or Other Casualty. In 22.1 If the event the Demised Premises, or any part thereof, Premises shall be damaged by fire or other casualty during the term, Landlord agrees that it will restore the Demised Premises, with reasonable dispatch, to substantially the same condition they were casualty: 1) except as otherwise provided in prior to such damage, and if the Demised Premises are rendered wholly or partially untenantable as a result of such damagesubsection (2) hereof, the Base damage shall be promptly repaired by and at the expense of Landlord and the Basic Rent and all Additional Rent payable hereunder until such repairs shall be made shall be equitably abated (according to the loss part of use) during the period intervening between the date of Premises which is usable by Tenant, unless such damage and was caused by the date the Demised Premises are restoredgross negligence or willful misconduct of Tenant or its servants, agents, employees, invitees, or licensees, in which case no abatement of Basic Rent or Additional Rent shall be made. Anything in the foregoing Landlord agrees, at its expense, to repair promptly any damage to the contrary notwithstandingPremises, if such damage occurs during the last two except that Tenant agrees to repair or replace its own furniture, furnishings and equipment. No penalty shall accrue due to an Excusable Delay. (2) years If the Premises are totally damaged or are rendered wholly untenantable by fire or other casualty, or if Landlord's architect certifies that it cannot be repaired within nine (9) months of the termcasualty or if Landlord shall decide to demolish the Building, and if such damage exceeds fifty percent Landlord shall, within sixty (50%) of the then insurable value of the Demised Premises, either Landlord or Tenant may terminate this lease as of the date of such damage, by giving to the other written notice of its intention so to do within thirty (3060) days after the date such damage occurs; provided, however, that if this lease gives Tenant an option to extend the term (other than automatic renewal as set forth in paragraph 2) and Tenant extends the term of this lease for at least two (2) years by exercising such option within thirty (30) days after the time such fire or other casualty, give Tenant a notice of such circumstance or decision, and thereupon the Term shall expire ten (10) days after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. (3) If Landlord fails to complete the repair and restoration of the Premises within nine (9) months from the date of the casualty occurs, neither Landlord nor (subject to Excusable Delays) then Tenant shall have the right to cancel and terminate this lease. If this lease is so terminated, Lease upon the rental payable hereunder shall be abated as delivery of the date of such damage, and Tenant shall remove all of its property from the Demised Premises a notice to Landlord delivered within thirty fifteen (3015) days after the notice expiration of termination is giventhe aforesaid nine (9) month period. (4) Landlord agrees that it shall diligently pursue all repair and restoration work required on its part to be completed hereunder.

Appears in 1 contract

Samples: Agreement of Lease (Columbia Laboratories Inc)

Damage by Fire or Other Casualty. In If the event the Demised Premises, or any part thereof, Premises shall be damaged or destroyed by fire or other casualty during casualty, Tenant shall promptly notify Landlord, and Landlord, subject to the termconditions set forth in this Section, Landlord agrees that it will shall repair such damage and restore the Demised Premises, with reasonable dispatch, Premises to substantially the same condition in which they were in immediately prior to such damagedamage or destruction, and if but not including the Demised Premises are rendered wholly repair, restoration or partially untenantable as a result replacement of such damagethe fixtures, the Base Rent and all Additional Rent payable hereunder equipment, or Alterations installed by or on behalf of Tenant, except for Landlord’s Work. Landlord shall be equitably abated (according to the loss of use) during the period intervening between notify Tenant, within 30 days after the date of such damage and the casualty, if Landlord anticipates that the restoration will take more than 180 days from the date the Demised Premises are restored. Anything in the foregoing to the contrary notwithstanding, if such damage occurs during the last two (2) years of the termcasualty to complete, and if such damage exceeds fifty percent (50%) notice to include Landlord’s reasonable estimate of the then insurable value of the Demised Premisestime required to complete such restoration; in such event, either Landlord or Tenant (unless the damage was caused by Tenant) may terminate this lease Lease effective as of the date of such damage, casualty by giving notice to the other within 10 days after Landlord’s notice. If (i) Landlord notifies Tenant that such repair and restoration will take more than 180 days from the date of the casualty to complete and neither party terminates this Lease, or (ii) Landlord anticipates that such repair and restoration will take 180 days or less from the date of the casualty to complete, then Landlord shall commence such repair and restoration (including, without limitation, the Landlord’s Work) as promptly as reasonably possible under the circumstances and shall diligently work to complete the repair and restoration, subject to delays caused by Tenant or its Agents or delays due to Force Majeure (as defined below). Notwithstanding anything to the contrary contained in this Section, (a) in the event Landlord notifies Tenant that such repair and restoration will be completed within said 180 day time period, and such restoration is not, in fact, substantially completed within such 180 day time period, as such time period shall be extended for delays caused by Tenant or its Agents and/or delays due to Force Majeure, then Tenant (unless the damage was caused by Tenant) shall have the option to terminate this Lease on 30 days prior written notice by giving Landlord notice of its intention so to do such termination within thirty (30) 30 days after expiration of such 180 day time period, as such time period shall be extended for delays caused by Tenant or its Agents and/or delays due to Force Majeure, provided, however, that if Tenant gives such notice of termination pursuant to this paragraph and Landlord then substantially completes the restoration and repair within such 30 day time period, then Tenant’s notice of termination shall be deemed revoked and this Lease shall continue in full force and effect, and (b) in the event Landlord notifies Tenant that such repair and restoration will take more than 180 days from the date of the casualty to complete and neither party terminates this Lease, such notice to include Landlord’s reasonable estimate of the time required to complete such restoration, and such restoration is not in fact substantially completed within the time period set forth in Landlord’s notice, as such time period shall be extended for delays caused by Tenant or its Agents and/or delays due to Force Majeure, then Tenant (unless the damage was caused by Tenant) shall have the option to terminate this Lease on 30 days prior written notice by giving Landlord notice of such termination within 30 days after expiration of such time period, as such time period shall be extended for delays caused by Tenant or its Agents and/or delays due to Force Majeure, provided, however, that if Tenant gives such notice of termination pursuant to this paragraph and Landlord then substantially completes the restoration and repair within such 30 day time period, then Tenant’s notice of termination shall be deemed revoked and this Lease shall continue in full force and effect. For purposes of the foregoing sentence only, substantial completion shall mean the Premises has been restored to substantially the same condition in which it was in immediately prior to such damage occursor destruction, including the Landlord’s Work, but excepting the repair, restoration or replacement of the fixtures, equipment, or Alterations installed by or on behalf of Tenant and incomplete items which do not adversely affect in a material way or materially interfere with Tenant’s use and occupancy of the Premises, which incomplete items shall be set forth on a punch list; provided, however, that substantial completion shall not be later than the date Tenant takes possession of the Premises for the conduct of its business, if earlier. If a casualty occurs during the last 12 months of the Term, Landlord may terminate this lease gives Lease unless Tenant an option has the right to extend the term (other than automatic renewal as set forth in paragraph 2) and Tenant extends the term of this lease Term for at least two (2) 3 more years by exercising such option and does so within thirty (30) 30 days after Landlord’s notice to terminate. Moreover, Landlord may terminate this Lease if the time such fire or other casualty occursloss is not covered by the terms of the insurance policies required to be maintained and actually maintained by Landlord under this Lease. Notwithstanding the foregoing, neither Landlord nor Tenant shall have the no right to terminate this lease. If this lease Lease under the preceding sentence if the damage to the Premises is so terminated, the rental payable hereunder shall sufficiently minor in scope such that (i) Rent or any portion thereof would not be abated as a result thereof, or (ii) Landlord reasonably anticipates that less than 30 days will be required to restore any damage. Tenant will receive an abatement of Minimum Annual Rent and Annual Operating Expenses to the extent the Premises are rendered untenantable as a result of the date casualty. In the event of a casualty, Tenant may elect, in its sole discretion, whether to restore, at its expense, any Alterations destroyed by such damage, casualty and Tenant shall remove all required to be removed at the end of its property from the Demised Premises within thirty (30) days after the notice of termination is givenTerm.

Appears in 1 contract

Samples: Lease Agreement (Zulily, Inc.)

Damage by Fire or Other Casualty. Lessor shall not be liable for any damage or injury to the Premises or to Lessee arising from any act of gross negligence on the part of the Lessee, or for any other damage or injury to Lessee or property occasioned from or by any cause whatsoever, except damage or injury due to the grossly negligent or willful act or Lessor, its employees, agents or invitees. Lessee covenants and agrees with Lessor to assume full responsibility and liability for any injuries or damages sustained by any person or persons on the Premises during the term of this Lease or any extensions thereof, and to save Lessor harmless therefrom, unless such injuries or damages are due to the grossly negligent or willful act of Lessor, its employees, agents or invitees. In the event the Demised PremisesPremises or the Building of which the Premises are a part is destroyed or injured by fire, or any part thereof, shall be damaged by fire earthquake or other casualty during to the termextent that either is untenable in whole or in part, Landlord agrees that it will then Lessor may, at its option, proceed with reasonable diligence to rebuild and restore the Demised PremisesPremises or such part thereof as may be damaged, with reasonable dispatch, to substantially the same condition they were in prior to such damage, and if the Demised Premises are rendered wholly or partially untenantable as a result of such damage, the Base Rent and all Additional Rent payable hereunder shall be equitably abated (according to the loss of use) during the period intervening between the date of such damage and the date the Demised Premises are restored. Anything in the foregoing to the contrary notwithstanding, if such damage occurs during the last two (2) years of the term, and if such damage exceeds fifty percent (50%) of the then insurable value of the Demised Premises, either Landlord or Tenant may terminate this lease as of the date of such damage, by giving to the other written notice of its intention so to do provided that within thirty (30) days after such destruction or injury, Lessor shall notify Lessee in writing of its intentions to do so, and provided further that Lessor can complete such rebuilding and restoration in one hundred twenty (120) days, and during the date period of such damage occurs; provided, however, that if this lease gives Tenant an option to extend the term (other than automatic renewal as set forth in paragraph 2) rebuilding and Tenant extends the term of this lease for at least two (2) years by exercising such option within thirty (30) days after the time such fire or other casualty occurs, neither Landlord nor Tenant shall have the right to terminate this lease. If this lease is so terminatedrestoration, the rental payable rent hereunder shall be abated abated. If Lessor shall fail to notify Lessee, as aforesaid, then this Lease, at the expiration at the time for giving said notice as provided for herein, shall be terminated as of the date time of such damage, and Tenant shall remove all of its property from the Demised Premises within thirty (30) days after the notice of termination is giveninjury or destruction.

Appears in 1 contract

Samples: Agreement (Rodi Power Systems Inc)

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Damage by Fire or Other Casualty. In the event the Demised Premises, or any part thereof, shall be damaged by If fire or other casualty during shall render the termwhole or any material portion of the Premises untenantable, Landlord agrees and the Premises can reasonably be expected to be made tenantable within one hundred twenty (120) days from the date of such event, then Lessor shall repair and restore the Premises and the Office Complex to as near their condition prior to the fire or other casualty as is reasonably possible within such one hundred twenty (120) day period (subject to delays for causes beyond Lessor's reasonable control) and notify Lessee that it will restore the Demised Premisesbe doing so, with reasonable dispatch, such notice to substantially the same condition they were in prior to such damage, and if the Demised Premises are rendered wholly or partially untenantable as a result of such damage, the Base Rent and all Additional Rent payable hereunder shall be equitably abated mailed within thirty (according to the loss of use30) during the period intervening between days from the date of such damage or destruction, and this Lease shall remain in full force and effect, but the rent for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of the Premises which is untenantable). If Lessor is required to repair the Office Complex and/or the Premises, as aforesaid, said work shall be undertaken and prosecuted with all due diligence and speed. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be made tenantable within one hundred twenty (120) days from the date the Demised Premises are restored. Anything of such event, then either party, by notice in the foregoing writing to the contrary notwithstanding, if other mailed within thirty (30) days from the date of such damage occurs during or destruction, may terminate this Lease effective upon a date within thirty (30) days from the last two (2) years date of such notice. In the term, and if such damage exceeds event that more than fifty percent (50%) of the then insurable value of the Demised Premisesspecific office structure of which the Premises is a part is damaged or destroyed by fire or other casualty, either Landlord and irrespective of If fire or Tenant may terminate this lease as other casualty shall render any material portion of the date Premises or any material portion of such damagethe Office Complex untenantable and the insurance proceeds are not sufficient to make repairs, then Lessor may, by giving notice to the other written notice of its intention so to do Lessee, mailed within thirty (30) days after from the date of such damage occurs; provideddamages or destruction, however, that if terminate this lease gives Tenant an option to extend the term (other than automatic renewal as set forth in paragraph 2) and Tenant extends the term of this lease for at least two (2) years by exercising such option Lease effective upon a date within thirty (30) days after from the time date of such notice. However, Lessee may within fifteen (15) days from Lessor's notice of termination elect to fund the repair cost shortfall and upon making such funds available to lessor or an independent escrowee within fifteen (15) days of Lessee's election notice, Lessor's termination election shall be rescinded, and Lessor shall proceed to repair or restore the Premises and the Office Complex. If the Premises or the Office Complex is damaged, and such damage is of the type insured against under the fire and special form property damage insurance maintained by Lessor hereunder, the cost of repairing said damage up to the amount of the deductible under said insurance policy shall be included as a part of the Operating Expenses. If the damage is not covered by such insurance policies and Lessor elects to repair the damage, then Lessee shall pay Lessor a pro rata share of the "deductible amount" (if any) under Lessor's insurance policies based on Lessee's percentage interest of the Premises and, if the damage was due to an act or omission of Lessee, Lessee shall pay Lessor the difference between the actual cost of repair and any insurance proceeds received by Lessor. If fire or other casualty occurs, neither Landlord nor Tenant shall have render the right whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to terminate this lease. If this lease is so terminated, the rental payable hereunder shall be abated as of made tenantable within one hundred twenty (120) days from the date of such damageevent and neither party hereto terminates this Lease pursuant to its rights herein or in the event that more than fifty percent (50%) of the value of the Office Complex is damaged or destroyed by fire or other casualty, and Tenant Lessor does not terminate this Lease pursuant to its option granted herein, or in the event that fifty percent (50%) or less of the value of the Office Complex is damaged or destroyed by fire or other casualty and neither the whole nor any material portion of the Premises is rendered untenantable, then Lessor shall remove repair and restore the Premises and the Office Complex to as near their condition prior to the fire or other casualty as is reasonably possible with all due diligence and speed (subject to delays for causes beyond Lessor's reasonable control) and the rent for the period during which the Premises are untenantable shall be abated pro rata (based upon the portion of its property from the Demised Premises within thirty (30) days which is untenantable). In no event shall Lessor be obligated to repair or restore any special equipment or improvements installed by Lessee. Anything herein contained to the contrary notwithstanding, Lessor shall not be obligated to spend more than the net insurance proceeds received by Lessor on account of any fire or other casualty in order to repair or restore the Premises or the Office Complex following such casualty; provided, however, Lessor shall notify Lessee promptly after the notice casualty if Lessor is unwilling to expend more than the net insurance proceeds. In the event of a termination is givenof this Lease pursuant to this Article XI, rent shall be apportioned on a per diem basis and paid to the date of the fire or other casualty.

Appears in 1 contract

Samples: Office Lease Scottsdale Northsight (Jda Software Group Inc)

Damage by Fire or Other Casualty. In the event the Demised Premises, or any part thereof, shall be damaged by If fire or other casualty during shall render the termwhole or any material portion of the Premises untenantable, Landlord agrees and the Premises can reasonably be expected to be repairable within one hundred twenty (120) days from the date of such event, then Lessor shall repair and restore the Premises and EastPark One to as near their condition prior to the fire or other casualty as is reasonably possible within such one hundred twenty (120) day period (subject to delays for causes beyond Lessor's reasonable control) and notify Lessee that it will restore the Demised Premisesbe doing so, with reasonable dispatch, such notice to substantially the same condition they were in prior to such damage, and if the Demised Premises are rendered wholly or partially untenantable as a result of such damage, the Base Rent and all Additional Rent payable hereunder shall be equitably abated mailed within thirty (according to the loss of use30) during the period intervening between days from the date of such damage or destruction, and this Lease shall remain in full force and effect, but the rent for the period during which the Premises are untenantable shall be abated pro rata. If Lessor is required to repair EastPark One and/or the Premises, as aforesaid, said work shall be undertaken and prosecuted with all due diligence and speed. If fire or other casualty shall render the whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to be repairable within one hundred twenty (120) days from the date the Demised Premises are restored. Anything of such event, then either party, by notice in the foregoing writing to the contrary notwithstanding, if other mailed within thirty (30) days from the date of such damage occurs during or destruction, may terminate this Lease effective upon a date within thirty (30) days from the last two (2) years date of such notice. In the term, and if such damage exceeds event that more than fifty percent (50%) of the then insurable value of the Demised PremisesEastPark One is damaged or destroyed by fire or other casualty, either Landlord and irrespective of whether damage or Tenant may terminate this lease as of destruction can be repaired within one hundred twenty (120) days thereafter, then at Lessor's option, by written notice to Lessee, mailed within forty-five (45) days from the date of such damagedamage or destruction, by giving to the other written notice of its intention so to do Lessor may terminate this Lease effective upon a date within thirty ninety (3090) days after from the date of such damage occurs; provided, however, that if this lease gives Tenant an option notice to extend the term (other than automatic renewal as set forth in paragraph 2) and Tenant extends the term of this lease for at least two (2) years by exercising such option within thirty (30) days after the time such Lessee. If fire or other casualty occurs, neither Landlord nor Tenant shall have render the right whole or any material part of the Premises untenantable and the Premises cannot reasonably be expected to terminate this lease. If this lease is so terminated, the rental payable hereunder shall be abated as of repairable within one hundred twenty (120) days from the date of such damageevent and neither party hereto terminates this Lease pursuant to its rights herein or in the event that more than fifty percent (50%) or the value of EastPark One is damaged or destroyed by fire or other casualty, and Tenant Lessor does not terminate this Lease pursuant to its option granted herein, or in the event that fifty percent (50%) or less of the value of EastPark One is damaged or destroyed by fire or other casualty and neither the whole nor any material portion of the Premises is rendered untenantable, then Lessor shall remove repair and restore the Premises and EastPark One to as near their condition prior to the fire or other casualty as is reasonably possible with all due diligence and speed (subject to delays for causes beyond Lessor's reasonable control) and the rent for the period during which the Premises are untenantable shall be abated pro rata. In no event shall Lessor be obligated to repair or restore any special equipment or improvements installed by Lessee at Lessee's expense. In the event of its property from a termination of this Lease pursuant to this Article, rent shall be apportioned on a per diem basis and paid to the Demised Premises within thirty (30) days after date of the notice of termination is givenfire or other casualty.

Appears in 1 contract

Samples: Gross Lease Agreement (Integrated Information Systems Inc)

Damage by Fire or Other Casualty. 11.1 In the event the Demised Premises, or any part thereof, Premises shall be destroyed or so damaged by fire or other casualty during the term, Landlord agrees that it will restore the Demised Premises, with reasonable dispatch, so as to substantially the same condition they were in prior to such damage, and if render the Demised Premises are rendered wholly or partially untenantable as a result of untenantable, Landlord, at its option, shall (a) restore and repair such damage, the Base Rent and all Additional Rent payable hereunder shall be equitably abated (according damage to the loss of useDemised Premises in which event the basic monthly rent shall xxxxx on a per diem thirty (30) day month basis during the period intervening between the date of such damage and the date the Demised Premises are restored. Anything in the foregoing to the contrary notwithstanding, if such damage occurs during the last two restoration; or (2b) years of the term, and if such damage exceeds fifty percent (50%) of the then insurable value of the Demised Premises, either Landlord or Tenant may terminate this lease as of the date of such damage, or any renewal thereof by giving to the other written notice of its intention so to do within Tenant thirty (30) days after the date such damage occurs; provided, however, that if this lease gives Tenant an option to extend the term (other than automatic renewal as set forth in paragraph 2) and Tenant extends the term of this lease for at least two (2) years by exercising such option within thirty (30) days after the time such fire or other casualty occurscasualty, neither Landlord nor Tenant and the rent shall have terminate as of the right to terminate this leaseday of such fire or casualty. If this lease is so terminated, In the rental payable hereunder event the leased premises shall be abated as destroyed or so damaged but are not thereby rendered wholly untenantable, Landlord shall restore the leased premises within ninety (90) days of the date of such damagefire or other casualty, and while such damage is being repaired, the basic monthly rent shall be reduced by an amount which bears the same ratio to the monthly rent that the floor area rendered untenantable bears to the total floor area of the Demised Premises; if the amount of damage or destruction is such that Tenant cannot reasonably operate its business at the Premises, then the full rent shall remove all xxxxx during said period of its property from restoration. In the event the Demised Premises shall be destroyed or so damaged by fire or other casualty so as to render the Premises wholly untenantable, and such destruction or damage occurs during the last year of the term of this Lease or the last year of any option period hereunder, and such damage or destruction cannot be repaired within thirty ninety (3090) days after of the date of such damage or destruction, then Tenant may elect to terminate this Lease by giving written notice of termination is givento Landlord.

Appears in 1 contract

Samples: Lease (Bremen Bearings Inc)

Damage by Fire or Other Casualty. In the event the Demised Premises, or any part thereof, shall be damaged by fire or other casualty by any act of Tenant, its agents, employees or invitees during the term, hereof, Landlord agrees that it will restore the Demised Premises to the extent of the insurance proceeds received by Tenant with respect to the Demised Premises, with reasonable dispatch, to substantially the same condition they were it was in prior to such damage, and if the proceeds of all insurance received with respect to the damage or destruction of the Demised Premises are rendered wholly shall be deposited in a joint escrow account in the name of Landlord and Tenant to be disbursed to Landlord as the restoration thereof progresses and as Landlord repairs or purchases replacement furniture, fixtures and equipment so damaged or destroyed. It is expressly understood and agreed that notwithstanding any damage to the Demised Premises by any act of Tenant, its agents, employees or invitees rendering the same totally or partially untenantable as a result untenantable, there shall not be any abatement of such damage, the Base Rent rent and all Additional Rent payable hereunder Tenant shall be equitably abated (according and continue to remain liable for the loss payment of use) all rent and other amounts due hereunder during the period intervening between the date of such damage and the date the Demised Premises are restored. Anything in the foregoing to the contrary notwithstanding, if such damage occurs during the last two six (26) years months of the termterm hereof, and if such damage exceeds fifty percent (50%) of the then insurable value of the Demised Premises, either Landlord or Tenant may terminate this lease Lease as of the date of such damage, damage by giving to the other written notice of its intention so to do within thirty (30) days after the date such damage occurs; provided, however, that if this lease gives Tenant an option to extend the term (other than automatic renewal as set forth in paragraph 2) and Tenant extends the term of this lease for at least two (2) years by exercising such option within thirty (30) days after the time such fire or other casualty occurs, neither Landlord nor Tenant shall have the right to terminate this lease. If this lease Lease is so terminated, the rental proceeds of all insurance payable with respect to the damage or destruction shall belong, and be paid, to Landlord, the rent payable hereunder shall be abated as of the date of such damage, and Tenant shall remove all of its property from the Demised Premises within thirty (30) days after the notice of termination is given.

Appears in 1 contract

Samples: Lease Agreement (ADS Tactical, Inc.)

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