Common use of Damage to the Demised Premises Clause in Contracts

Damage to the Demised Premises. (a) In the event of partial or total damage or destruction of the Leased Premises by fire, other casualty, or any cause whatsoever (except condemnation), Lessee shall give immediate notice to Lessor. If the damage or destruction is insured against by Lessor, this Lease shall continue in full force and effect, and, to the extent that insurance proceeds respecting such damage or destruction are subject to being utilized and, in fact, may be utilized by Lessor for repair, Lessor shall cause such damage or destruction to be repaired with reasonable speed at the expense of Lessor, except as otherwise hereinafter provided in this Paragraph 13. If in the reasonable opinion of Lessor the damage or destruction is such that repair thereof cannot reasonably be completed within ninety (90) days of the date the damage or destruction occurs, Lessor shall have the right to terminate this Lease by the giving of written notice to such effect to Lessee within thirty (30) days of the date of Lessor's receipt of Lessee's notice of damage or destruction. In no event shall Lessor be required to restore or repair Lessee's personal property or other contents within the Leased Premises. Due allowance shall be made for reasonable delay which may arise by reason of Lessor's adjustment of loss under insurance policies and on account of labor troubles or any other cause beyond Lessor's control. To the extent that the Leased Premises are rendered untenantable, the Rent and Additional Rent shall proportionately abate. If the damage or destruction is not covered by insurancx xxintained by Lessor or if insurance proceeds respecting the damage or destruction are not subject to being utilized for repair and, in fact, may be not so utilized, Lessor shall not be required to repair the damage or destruction. In the event the damage or destruction is so extensive to the building of which the Leased Premises are a part as to render it uneconomical, in Lessor's opinion, to restore the Leased Premises, the Lease, at the option of Lessor, shall be terminated upon written notice to Lessee and Lessee shall immediately thereafter vacate the Leased Premises and surrender the same to Lessor. No such termination shall release Lessee from any liability to Lessor from any of the obligations or duties imposed on Lessee under this Lease prior to the damage. Upon any termination of this Lease pursuant to his Paragraph 13(a), Rent and Additional Rent shall be prorated and adjusted to the date of such termination.

Appears in 1 contract

Samples: Assignment and Assumption (North American Vaccine Inc)

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Damage to the Demised Premises. (a) In If at any time during the event of partial or total damage or destruction Demised Term, the building which constitutes a part of the Leased Demised Premises shall be damaged or destroyed, said building promptly shall be repaired or rebuilt or restored by fire, other casualty, or any cause whatsoever (except condemnation), Lessee shall give immediate notice to Lessor. If the damage or destruction is insured against by Lessor, this Lease shall continue in full force and effect, and, Landlord to the extent that insurance proceeds respecting condition as good as the same was immediately prior to such damage or destruction are subject to being utilized and, but in fact, may accordance with plans and specifications mutually agreed upon by Landlord and Tenant. The work of restoration or rebuilding shall be utilized by Lessor for repair, Lessor shall cause in full compliance with all laws and regulations and governmental ordinances applicable thereto. During any such damage or destruction to be repaired with reasonable speed at the expense of Lessor, except as otherwise hereinafter provided in this Paragraph 13. If in the reasonable opinion of Lessor period that the damage or destruction is such as to render the use of the building constituting a part of the Demised Premises impractical or impossible in the reasonable opinion of Tenant, the rents herein provided shall xxxxx. In the event such building shall be used by Tenant for the operation of business, rents shall be paid in proportion to the amount and value of the building available for use so that repair thereof cannot reasonably there will be completed within ninety (90) days a fair apportionment of rent. If the building constitutes a part of the Demised Premises shall be totally destroyed during the last year of the Original Term or during the renewal term, then and in that event either Landlord or Tenant may terminate this lease as of the date the of such damage or destruction occurs, Lessor shall have the right to terminate this Lease by the giving of thirty (30) days' written notice to such effect to Lessee the other; provided, however, if within thirty (30) days after receipt by Tenant of the date of Lessor's receipt of Lessee's any such notice from Landlord, Tenant shall give notice of damage or destruction. In no event its intention to exercise any option to renew for the renewal term, this lease shall Lessor be required to restore or repair Lessee's personal property or other contents within the Leased Premises. Due allowance shall be made for reasonable delay not terminate, notwithstanding any notice of termination which may arise have been previously given by reason of Lessor's adjustment of loss under insurance policies Landlord to Tenant and on account of labor troubles or any other cause beyond Lessor's control. To the extent that the Leased Premises are rendered untenantable, the Rent Landlord shall rebuild and Additional Rent shall proportionately abate. If the damage or destruction is not covered by insurancx xxintained by Lessor or if insurance proceeds respecting the damage or destruction are not subject to being utilized for repair and, in fact, may be not so utilized, Lessor shall not be required to repair the damage or destruction. In the event the damage or destruction is so extensive to restore the building of which the Leased Premises are a part as to render it uneconomical, in Lessor's opinion, to restore the Leased Premises, the Lease, at the option of Lessor, shall be terminated upon written notice to Lessee and Lessee shall immediately thereafter vacate the Leased Premises and surrender the same to Lessor. No such termination shall release Lessee from any liability to Lessor from any of the obligations or duties imposed on Lessee under this Lease prior to the damage. Upon any termination of this Lease pursuant to his Paragraph 13(a), Rent and Additional Rent shall be prorated and adjusted to the date of such terminationaforesaid.

Appears in 1 contract

Samples: Republic Bancorp Inc /Ky/

Damage to the Demised Premises. (a) In the event of partial or total damage or destruction of the Leased Premises by fire, other casualty, or any cause whatsoever (except condemnation), Lessee shall give immediate notice to Lessor. If the demised premises shall be damaged by fire or other cause, Landlord shall diligently and as soon as practicable after such damage or destruction is insured against by Lessor, this Lease shall continue in full force and effect, and, occurs repair such damage to the extent that insurance proceeds respecting such damage or destruction are subject to being utilized and, in fact, may be utilized by Lessor for repair, Lessor shall cause such damage or destruction to be repaired with reasonable speed demised premises (excluding the Tenant's personal property) at the expense of LessorLandlord. Notwithstanding the foregoing, except as otherwise hereinafter provided (i) if the demised premises or the building containing the demised premises is damaged by fire or other cause to such an extent that, in this Paragraph 13. If in the Landlord's or Tenant's reasonable opinion of Lessor judgment, the damage or destruction is such that repair thereof cannot reasonably be completed substantially repaired within ninety two hundred (90200) days of after the date of such damage then either Landlord or Tenant within sixty (60) days from the date of such damage or destruction occurs, Lessor shall have the right to may terminate this Lease by the giving of written notice to such effect to Lessee within thirty (30) days of the date of Lessor's receipt of Lessee's notice of damage other. If either Landlord or destruction. In no event shall Lessor be required to restore or repair Lessee's personal property or Tenant terminates this Lease, the rent and all other contents within the Leased Premises. Due allowance charges due hereunder shall be made for reasonable delay which may arise by reason of Lessor's adjustment of loss under insurance policies apportioned and on account of labor troubles or any other cause beyond Lessor's control. To the extent that the Leased Premises are rendered untenantable, the Rent and Additional Rent shall proportionately abate. If the damage or destruction is not covered by insurancx xxintained by Lessor or if insurance proceeds respecting the damage or destruction are not subject to being utilized for repair and, in fact, may be not so utilized, Lessor shall not be required to repair the damage or destruction. In the event the damage or destruction is so extensive to the building of which the Leased Premises are a part as to render it uneconomical, in Lessor's opinion, to restore the Leased Premises, the Lease, at the option of Lessor, shall be terminated upon written notice to Lessee and Lessee shall immediately thereafter vacate the Leased Premises and surrender the same to Lessor. No such termination shall release Lessee from any liability to Lessor from any of the obligations or duties imposed on Lessee under this Lease prior to the damage. Upon any termination of this Lease pursuant to his Paragraph 13(a), Rent and Additional Rent shall be prorated and adjusted paid to the date of such terminationdamage. If neither Landlord nor Tenant so elects to terminate this Lease but the damage required to be repaired by Landlord is not repaired within two hundred (200) days from the date of such damage (such two hundred (200) day period to be extended by the period of any delay outside the direct control of Landlord plus a reasonable period for a satisfactory settlement with any insurance company involved), Tenant, within ten (10) days from the expiration of such two hundred (200) day period (as the same may be extended), may terminate this Lease by written notice to Landlord. During the period that Tenant is deprived of the use of all or any portion of the demised premises, all rent and other charges due hereunder shall be abated.

Appears in 1 contract

Samples: Lease Agreement (Mason George Bankshares Inc)

Damage to the Demised Premises. (a) In the event of partial or total damage or destruction of the Leased Demised Premises are damaged by fire, other casualty, explosion or any cause whatsoever other casualty to an extent which is less than twenty five percent (except condemnation)25%) of the cost of replacement of the Demised Premises, Lessee shall give immediate notice to Lessor. If the damage or destruction is insured against by Lessor, this Lease shall continue in full force and effect, and, to the extent that insurance proceeds respecting such damage or destruction are subject to being utilized and, in fact, may be utilized by Lessor for repair, Lessor shall cause such damage or destruction to promptly be repaired with reasonable speed by Landlord at the Landlord's expense of Lessor, except as otherwise hereinafter provided in this Paragraph 13. If in the reasonable opinion of Lessor the damage or destruction is such that repair thereof cannot reasonably be completed within ninety (90) days of the date casualty. In no event shall Landlord be required to repair or replace Tenant's stock in trade, fixtures, furniture, furnishings, floor coverings and equipment. In the damage event the Demised Premises shall be damaged to the extent of twenty five percent (25%) or destruction occursmore of the cost of replacement, Lessor shall have Landlord may elect either to repair or rebuild the right to Demised Premises within one hundred twenty (120) days of the casualty or Landlord may terminate this Lease by the upon giving notice of written notice such election in writing to such effect to Lessee Tenant within thirty (30) days after the occurrence of the date of Lessor's receipt of Lessee's notice of damage or destruction. In no event shall Lessor be required to restore or repair Lessee's personal property or other contents within causing the Leased Premises. Due allowance shall be made for reasonable delay which may arise by reason of Lessor's adjustment of loss under insurance policies and on account of labor troubles or any other cause beyond Lessor's control. To the extent that the Leased Premises are rendered untenantable, the Rent and Additional Rent shall proportionately abate. If the damage or destruction is not covered by insurancx xxintained by Lessor or if insurance proceeds respecting the damage or destruction are not subject to being utilized for repair and, in fact, may be not so utilized, Lessor shall not be required to repair the damage or destructiondamage. In the event the damage or destruction is so extensive Demised Premises shall be damaged to the building extent such that repairs cannot be reasonably repaired, or are not substantially repaired, within one hundred twenty (120) days, Tenant may terminate this Lease upon giving notice of such termination to Landlord. If the casualty, repairing, or rebuilding shall render the Demised Premises untenantable, in whole or in part, then a proportionate abatement of the rent due hereunder shall be allowed from the date when the damage occurred until the date Landlord completes its work, said proportion to be computed on the basis of the relation which the Leased Premises are a part as to render it uneconomical, in Lessor's opinion, to restore the Leased Premises, the Lease, at the option of Lessor, shall be terminated upon written notice to Lessee and Lessee shall immediately thereafter vacate the Leased Premises and surrender the same to Lessor. No such termination shall release Lessee from any liability to Lessor from any gross square foot area of the obligations or duties imposed on Lessee under this Lease prior space rendered untenantable bears to the damagefloor space of the Demised Premises. Upon any termination of this Lease pursuant If Landlord is required or elects to his Paragraph 13(a)repair the Demised Premises as herein provided, Rent Tenant shall repair or replace its stock in trade, fixtures, furniture, furnishings, floor coverings and Additional Rent equipment, and if Tenant has closed, Tenant shall be prorated and adjusted to the date of such terminationpromptly reopen for business.

Appears in 1 contract

Samples: Lease (Strategia Corp)

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Damage to the Demised Premises. (a) In the event of partial or total damage or destruction of the Leased Premises by fire, other casualty, or any cause whatsoever (except condemnation), Lessee shall give immediate notice to Lessor. If the damage Demised Premises shall be damaged by fire or destruction is insured against by Lessor, this Lease shall continue in full force and effect, and, to other cause without the extent that insurance proceeds respecting such damage fault or destruction are subject to being utilized and, in fact, may be utilized by Lessor for repairneglect of Lessee, Lessor shall cause diligently and as soon as practicable after such damage or destruction occurs (taking into account the time necessary to be repaired effectuate a satisfactory settlement with reasonable speed any insurance company) repair such damage (but excluding Lessee's furniture, fixtures, furnishings, equipment, improvements and/or alterations) at the expense of the Lessor, except as otherwise hereinafter provided and the Monthly Base Rent shall be reduced in this Paragraph 13. If in proportion to the reasonable opinion of Lessor extent the Demised Premises are rendered untenantable, until such repairs are completed, provided, however, that if the Building is damaged by fire or other cause to such extent that the damage or destruction is such that repair thereof cannot reasonably be completed fully repaired within ninety sixty (9060) days of from the date the damage or destruction occursof such damage, Lessor shall have the right to terminate option of terminating this Lease by the giving of written written-notice to Lessee of such effect to Lessee within thirty decision and the Lease Term shall terminate on the day such notice is given. Notwithstanding the foregoing, in the event the Building shall be damaged or destroyed by fire or other casualty during the last twelve (3012) days months of the date Lease Term, Lessor shall have no obligation to rebuild the Demised Premises, and upon giving Lessee notice of Lessor's receipt of Lessee's notice of damage or destruction. In no event shall Lessor be required election not to restore or repair Lessee's personal property or other contents within rebuild the Leased Premises. Due allowance shall be made for reasonable delay which may arise by reason of Lessor's adjustment of loss under insurance policies and on account of labor troubles or any other cause beyond Lessor's control. To the extent that the Leased Premises are rendered untenantable, the Rent and Additional Rent shall proportionately abate. If the damage or destruction is not covered by insurancx xxintained by Lessor or if insurance proceeds respecting the damage or destruction are not subject to being utilized for repair and, in fact, may be not so utilized, Lessor shall not be required to repair the damage or destruction. In the event the damage or destruction is so extensive to the building of which the Leased Premises are a part as to render it uneconomical, in Lessor's opinion, to restore the Leased Demised Premises, the Lease, at the option of Lessor, shall be terminated upon written notice to Lessee and Lessee shall immediately thereafter vacate the Leased Premises and surrender the same to Lessor. No such termination shall release Lessee from any liability to Lessor from any of the obligations or duties imposed on Lessee under this Lease prior to the damage. Upon any termination of this Lease pursuant to his Paragraph 13(a), Rent shall cease and Additional Rent shall be prorated and adjusted to determine as fully as if the date of such terminationnotice were the scheduled termination date of this Lease. No compensation or claim or reduction of Rent will be allowed or paid Lessor by reason of inconvenience, annoyance, or injury to business arising from the necessity of repairing the Demised Premises or any portion of the Building however the necessity may occur.

Appears in 1 contract

Samples: License Agreement (CRL Network Services Inc)

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