Common use of Restoration Clause in Contracts

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice).

Appears in 6 contracts

Samples: Lease (Ista Pharmaceuticals Inc), Lease (Bakbone Software Inc), Lease (Lsi Logic Corp)

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Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s 's insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s 's Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”"LANDLORD'S NOTICE") within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s 's Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice).

Appears in 5 contracts

Samples: Lease (Interchange Corp), Lease (Telenetics Corp), Lease (Endwave Corp)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is are not available from Landlord’s insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated estimates that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice).

Appears in 4 contracts

Samples: Lease (Masimo Corp), Lease (Masimo Corp), Lease (Netlist Inc)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualtycasualty (including but not limited to, the contamination of the Premises and/or the Building by Hazardous Materials not caused or knowingly permitted by Tenant or by any Tenant Party which contamination renders the Premises unsafe for occupancy by Tenant), then Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s insuranceProperty Policy (regardless of whether Landlord self-insures such coverage), including without limitation or from any earthquake insuranceinsurance carried by Landlord, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured monetary Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice).

Appears in 3 contracts

Samples: Sublease Agreement (Prometheus Biosciences, Inc.), Sublease Agreement (Prometheus Biosciences, Inc.), Lease (Prometheus Biosciences, Inc.)

Restoration. (a) If at any time during the Lease Term the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake a fire or other casualty, Landlord shall have notify Tenant within sixty (60) days after such damage as to the right amount of time Landlord reasonably estimates it will take to restore the Premises (“Damage Notice”). If the restoration time is reasonably estimated to exceed one hundred eighty (180) days, then either Landlord or Tenant may elect to terminate this Lease upon written notice to Tenant if: the other party given no later than thirty (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (27030) days after Landlord’s notice; provided that Landlord also terminates the date leases of all other similarly-situated tenants in the Building. If the Premises are damaged by a fire or other casualty and: (a) the damage to the Premises exceeds 50% of the damage; replacement cost thereof (iii) an uncured Event of Default excluding foundations and footings), as estimated by Tenant has occurredLandlord; or (ivb) the material such damage occurs during the final twelve last two (122) months years of the Lease Term, regardless of the extent of damage to the Premises; or (c) Landlord is required to pay any insurance proceeds arising out of such fire or casualty to Landlord’s mortgagee, then Landlord, in its discretion, may terminate this Lease upon written notice to Tenant no later than thirty (30) days after Landlord’s Damage Notice. If the damage occurs during the last two (2) years of the Lease Term and Landlord elects to terminate this Lease solely pursuant to clause (b) above, Tenant shall have the right to nullify Landlord’s termination notice by providing written notice to Landlord that it is electing to exercise its then next successive extension option. In addition, if the damage occurs during the last two (2) years of the Lease Term and Landlord does not elect to terminate this Lease pursuant to clause (b) above, then Tenant shall have the right to elect to terminate this Lease by written notice to Landlord but only if such damage materially and adversely affects Tenant’s ability to use the Premises for the purposes for which they are leased hereby, and such damage or destruction was not caused by Tenant, its sublessee(s), their agents, contractors or invitees, and Tenant and Landlord reasonably determines that, after the completion of repairs to and restoration of the Premises by Landlord, less than one (1) year will be remaining in the Lease Term. If Landlord does not elect to terminate this Lease or if Landlord reasonably estimates that restoration will take one hundred eighty (180) days or less (except in the event of termination by Landlord), then Landlord shall notify promptly restore the Premises to the condition existing immediately prior to such damage and destruction, excluding the Tenant-Made Alterations or Trade Fixtures and improvements paid for by Tenant in writing whether or not installed by Landlord, subject to receipt of sufficient insurance proceeds, delays arising from the collection of insurance proceeds or from Force Majeure (as hereinafter defined) events. Tenant at Tenant’s expense shall promptly perform, subject to delays arising from the collection of insurance proceeds, or from Force Majeure events, all repairs or restoration not required to be done by Landlord. As part of its Additional Rent for Site Operating Costs, Tenant shall pay to Landlord with respect to any damage to the Building the amount of Tenant’s Proportionate Share of any commercially reasonable deductible maintained by Landlord under Landlord’s Notice”insurance policy within thirty (30) days after presentment of Landlord’s invoice. Base Rent for the portion of the Premises rendered untenantable by the damage shall be abated on a reasonable basis from the date of damage until the completion of the repair. Additional Rent shall not axxxx during the period of repair and restoration unless Tenant is unable to utilize any portion of the Premises as a result of the damage or destruction which gave rise to the abatement of Base Rent, in which event Additional Rent shall also axxxx on a pro rata basis based on the untenantable portion until such time as the repairs are completed and the restored Premises are delivered by Landlord to Tenant. If Landlord elects, or is required pursuant hereto, to repair and restore the Premises, and Landlord has failed to substantially complete such repair and restoration within one hundred eighty (180) days from the Damage Notice (subject to Force Majeure and Tenant-Caused Delay), then Tenant shall be entitled to provide notice of the failure thereof to Landlord. In the event Landlord thereafter fails to substantially complete such repair and restoration within sixty (60) days after Tenant’s delivery of notice to Landlord (subject to Force Majeure and Tenant-Caused Delay) (“Required Restoration Date”), then, in that event, Tenant shall have the damage occurs as right to elect to either of the following (Awhich election must be made by a written notice delivered to Landlord no later than ten (10) whether Landlord is terminating business days after the Required Restoration Date): (a) immediately terminate this Lease upon written notice to Landlord, or (b) complete such repairs and restorations to the Premises as a result soon as reasonably possible after the Required Restoration Date (subject to Force Majeure), in which event Landlord shall make immediately available to Tenant (whether the funds are held by Landlord or an escrow agent) all insurance proceeds received by Landlord for the restoration of such material damage and (B) if the Premises beyond the amount necessary to reimburse Landlord is not terminating this Lease, for the number of days within which costs Landlord has estimated that incurred in restoring the Premises, together with reasonable diligencethe deductible maintained by Landlord under Landlord’s insurance policy. Tenant shall be entitled to particular funds upon providing a written demand therefore that is accompanied by supporting documentation reasonably requested by Landlord or the escrow holder, which may include, but is not limited to, third party invoices and lien waivers. If such amounts are likely not paid over to be Tenant within thirty (30) days of Tenant’s properly supported written request therefor, Tenant may offset the same, together with interest at a per-annum rate equal to Prime Rate plus ten percent (10%), from the next and subsequent installments of Base Rent payable under this Lease until the foregoing amount is fully repairedoffset. Notwithstanding the foregoing, Landlord’s obligation to pay over amounts under this Section 12 is subject to the rights of the then current lender of the Building. If Tenant has failed to substantially complete such repair and restoration within one hundred eighty (180) days from the Required Restoration Date, Landlord may provide written notice to Tenant that Landlord will complete the work. In that case, Tenant shall reasonably cooperate with Landlord to promptly transition or terminate (as determined by Landlord), all third party contracts related to the event work, and Landlord elects shall be entitled to terminate this Lease, this Lease access all remaining funds and Tenant shall terminate as reimburse Landlord the amount of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following deductible actually paid to Tenant and not spent on the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice)repair or restoration.

Appears in 2 contracts

Samples: Lease (Ulta Salon, Cosmetics & Fragrance, Inc.), Lease (Ulta Salon, Cosmetics & Fragrance, Inc.)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s 's insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s 's Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing ("Landlord’s 's Notice") within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s 's Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice).

Appears in 2 contracts

Samples: Intest Corp, Lease (Ydi Wireless Inc)

Restoration. (a) If at any time during the Term the Project or the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake a fire or other insured casualty, Landlord shall have notify Tenant within 60 days after discovery of such damage as to the right amount of time Landlord reasonably estimates it will take to restore the Project or the Premises, as applicable. If the restoration time is estimated to exceed 8 months, Landlord may, in such notice, elect to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because as of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) date that is 75 days after the date cat. of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result discovery of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repairedor destruction. In the event Unless Landlord elects to terminate this Lease, Landlord shall, subject to receipt of sufficient insurance proceeds (with any deductible to be treated as a current Operating Expense), promptly restore the Premises (excluding the improvements installed by Tenant or by Landlord and paid for by Tenant), subject to delays arising from the collection of insurance proceeds, from Force Majeure events or as needed to obtain any license, clearance or other authorization of any kind required to enter into and restore the Premises issued by any governmental or quasi-governmental agency having jurisdiction over the Premises, including with respect to the use, storage, release or removal of Hazardous Materials in, on or about the Premises (collectively referred to herein as "Use Clearances"); provided, however, that if repair or restoration of the Premises is not Substantially Complete as of the end of 8 months from the date of damage or destruction, Landlord may, in its sole and absolute discretion, elect not to proceed with such repair and restoration, or Tenant may, in its sole and absolute discretion, elect to terminate this Lease by written notice delivered within 5 business days of the expiration of such 8 month period, in which event Landlord shall be relieved of its obligation to make such repairs or restoration and this Lease shall terminate as of the date specified for termination by Landlord’s Notice that is 75 days after the later of: (which termination date shall in no event be later than sixty i) discovery of such damage or destruction, or (60ii) days following the date all required Use Clearances are obtained. Tenant, at its expense, shall promptly perform, subject to delays arising from the collection of insurance proceeds, from Force Majeure events or to obtain Use Clearances, all repairs or restoration not required to be done by Landlord and shall promptly re-enter the Premises and commence doing business in accordance with this Lease. Notwithstanding the foregoing, Landlord may terminate this Lease upon 60 days prior written notice if the Premises are damaged during the last 12 months of the Term and Landlord reasonably estimates that it will take more than one month to repair such damage, oror if insurance proceeds are not available for such restoration. Rent shall be abated from the date all required Use Clearances are obtained until the Premises are repaired and restored, in the proportion which the area of the Premises, if no such date any, which is specifiednot usable by Tenant in the manner in which the damaged portion of the Premises were used by Tenant bears to the total area of the Premises, such termination unless Landlord provides Tenant with other space during the period of repair that is reasonably suitable in Tenant's judgment for the temporary conduct of Tenant's business. Such abatement shall be the date sole remedy of Landlord’s Notice)Tenant, and except as provided herein, Tenant waives any right to terminate the Lease by reason of damage or casualty loss. The provisions of this Lease, including this Section 18, constitute an express agreement between Landlord and Tenant with respect to any and all damage to, or destruction of, all or any part of the Premises, or any other portion of the Project, and any statute or regulation which is now or may hereafter be in effect, shall have no application to this Lease or any damage or destruction to all or any part of the Premises or any other portion of the Project, the parties hereto expressly agreeing this Section 18 sets forth their entire understanding and agreement with respect to such matters.

Appears in 1 contract

Samples: Lease Agreement (Equinix Inc)

Restoration. (a) If the Building of which the Premises or the Building or are a part thereof are materially damaged by any fire, flood, earthquake or other casualtyis damaged, Landlord shall have the right to terminate this Lease upon written notice to Tenant ifrepair that damage as soon as reasonably possible, at its expense, unless: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is greater than Fifty Thousand Dollars ($50,000.00) and is not available from covered by Landlord’s insurance, including without limitation earthquake insurance's All-Risk Policy (whether or not Landlord chooses to self-insure such coverage) or by Landlord's other insurance coverages, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s 's Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of a Default by Tenant has occurredoccurred at the time of such damage; or (iv) the material damage costs more than Fifty Thousand Dollars ($50,000.00) to repair and occurs during the final twelve nine (129) months of the TermTerm (unless Tenant has validly exercised its option to extend the Term contained in Section 3.3 of this Lease). Should Landlord elect not to repair the damage for one of the preceding reasons, Landlord shall so notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified of that notice. Tenant's responsibility for termination by the reimbursement of deductibles contained in this Lease shall be subject to the following limitations: (A) Tenant shall have no responsibility for so-called "co-insurance" requirements for any deficiencies in Landlord’s Notice 's All-Risk Policy coverage; and (which termination date shall B) in no event be later than sixty shall Tenant's obligation for payment or reimbursement of any deductible exceed the amount of One Hundred Thousand Dollars (60$100,000.00) days following for any single casualty. Further, in the date event that Landlord terminates this Lease pursuant to this Section 11.1(a), Tenant shall have no responsibility for reimbursement of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice)any deductible.

Appears in 1 contract

Samples: Industrial Lease (Emachines Inc /De/)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s 's insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s 's Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; or (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing ("Landlord’s 's Notice") within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s 's Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice).

Appears in 1 contract

Samples: Lease (California Micro Devices Corp)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair (exclusive of any deductible up to seven and one-half percent of the loss amount) is not available from covered by Landlord’s insurance's insurance that Landlord is required to maintain by this Lease which Landlord carries and includes as part of Operating Expenses, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share's Share as an Operating Expense); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy one (2701) days year after the date of the damage; (iii) an uncured Event of Default by Tenant has occurredoccurred and remains uncured at the time of such casualty; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”"LANDLORD'S NOTICE") within sixty thirty (6030) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice). Notwithstanding the foregoing, Landlord shall only have the right to terminate this Lease under (i) above if Landlord terminates the leases of all tenants in the Project similarly damaged by such casualty and such tenants have comparable rights and obligations in the event of such casualty.

Appears in 1 contract

Samples: Lease (Broadcom Corp)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its sole and absolute option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurredoccurred and is continuing; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice).

Appears in 1 contract

Samples: Lease (AutoTrader Group, Inc.)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is are not available from Landlord’s 's insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s 's Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing ("Landlord’s 's Notice") within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated estimates that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice).. ThermoGenesis Holdings Inc. Lease

Appears in 1 contract

Samples: Lease Agreement (ThermoGenesis Holdings, Inc.)

Restoration. (a) If either of the Buildings of which the Premises or the Building or are a part thereof are materially damaged by any fire, flood, earthquake or other casualtyis damaged, Landlord shall have the right to terminate this Lease upon written notice to Tenant ifrepair that damage as soon as reasonably possible, at its expense, unless: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from covered by Landlord’s insurance, including without limitation earthquake insurance, 's fire and extended coverage insurance plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s 's Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including including, without limitation limitation, Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event event of Default default by Tenant has occurredoccurred and is continuing at the time of such damage; or (iv) the material damage occurs during the final twelve (12) months of the TermTerm unless Tenant then has the right to extend the Term of this Lease and does so in accordance with the provisions of Section 3.3 hereof. Should Landlord elect not to repair the damage for one of the preceding reasons, Landlord shall so notify Tenant in writing within forty-five (“Landlord’s Notice”) within sixty (6045) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for of that notice as to the Building which was damaged; provided, however that if the remaining Premises after such termination is less than an entire Building, Tenant shall have the right to cause the Lease to be terminated as to the remainder of the Premises by Landlord’s Notice giving Landlord written notice within thirty (which termination date shall in no event be later than sixty (6030) days following the date of the damage, or, if no such date is specified, such termination shall be the date after receipt of Landlord’s Notice)'s notice.

Appears in 1 contract

Samples: License Agreement (New Century Financial Corp)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: if (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is are not available from Landlord’s 's insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s 's Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing ("Landlord’s 's Notice") within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated estimates that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s 's Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice).

Appears in 1 contract

Samples: Hireright Inc

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualtycasualty (including but not limited to, the contamination of the Premises and/or the Building by Hazardous Materials not caused or knowingly permitted by Tenant or by any Tenant Party which contamination renders the Premises unsafe for occupancy by Tenant), then Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s insurance's Property Policy (regardless of whether Landlord self-insures such coverage), including without limitation or from any earthquake insuranceinsurance carried by Landlord, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s 's Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured monetary Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing ("Landlord’s 's Notice") within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s 's Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice).

Appears in 1 contract

Samples: Lease (Prometheus Laboratories Inc)

Restoration. (a) If the Building of which the Premises or the Building or are a part thereof are materially is damaged by any fireas the result of an event of casualty, flood, earthquake or other casualtythen subject to the provisions below, Landlord shall have the right to terminate this Lease upon written notice to Tenant ifrepair that damage as soon as reasonably possible unless: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair would exceed ten percent (10%) of the full replacement cost of the Building (“Replacement Cost”) and the damage is not available from covered by Landlord’s fire and extended coverage insurance (or by a normal extended coverage policy should Landlord fail to carry that insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share); or (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord cost of repair would exceed twenty-five percent (or cannot be safely repaired because 25%) of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damageReplacement Cost; or (iii) an uncured Event Landlord reasonably determines that the cost of Default by Tenant has occurred; or repair would exceed ten percent (iv10%) of the material Replacement Cost and the damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice).

Appears in 1 contract

Samples: Lease (Micrus Endovascular Corp)

Restoration. (a) If more than twenty-five percent (25%) of the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written Written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is are not available from Landlord’s insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share); , (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; , (iii) an uncured Event of Default by Tenant has occurred; , or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice).

Appears in 1 contract

Samples: Lease (Mirion Technologies, Inc.)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to of Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s insurance, including without limitation earthquake insurance, plus such additional amounts Tenant Tenants elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice).

Appears in 1 contract

Samples: Lease (Devax Inc)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines either (A) that proceeds necessary to pay the full cost of repair would exceed ten percent (10%) of the replacement cost of the Building and the damage is not available from covered by Landlord’s insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however 's insurance or (B) that the deductible cost of repair would exceed twenty-five percent (for which Tenant shall be responsible for Tenant’s Share)25%) of the Building's replacement cost; (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, faults and other similar dangers) within two hundred seventy (270200) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing ("Landlord’s 's Notice") within sixty thirty (6030) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repairedrepaired (the "Designated Repair Period"). In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s 's Notice (which termination date shall in no event be later than sixty thirty (6030) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice).

Appears in 1 contract

Samples: Lease (Molecular Devices Corp)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s insuranceProperty Policy (or if Landlord chooses to self-insure all or any portion of such Property Policy coverage, that the necessary proceeds would not have been available if the Property Policy had been in place through third-party insurers) and/or from its other property insurance policies (if any), including without limitation limitation, proceeds to cover any earthquake insurancecasualty, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s ShareShare not to exceed Fifty Thousand Dollars ($50,000.00) for any single casualty); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurredoccurred and is continuing; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice).

Appears in 1 contract

Samples: Raining Data Corp

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Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s 's insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share's Share subject to the limitations set forth hereinabove); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing ("Landlord’s 's Notice") within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s 's Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice).

Appears in 1 contract

Samples: Lease (Endwave Corp)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is are not available from Landlord’s insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurredoccurred and is continuing; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated estimates that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice).

Appears in 1 contract

Samples: Lease (Biolase Technology Inc)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is are not available from Landlord’s insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share, provided that in no event shall Tenant’s Share of a deductible be greater than Fifty Thousand Dollars ($50,000) for any single casualty [the “Deductible Cap” herein]); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated estimates that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice thirty (which termination date shall in no event be later than sixty (6030) days following the date of the damage, or, if no such date is specified, such termination shall be the date delivery of Landlord’s Notice).

Appears in 1 contract

Samples: Lease (Sonics, Inc.)

Restoration. (a) If the Building of which the Premises or the Building or are a part thereof are materially damaged by any fire, flood, earthquake or other casualtyis damaged, Landlord shall have the right to terminate this Lease upon written notice to Tenant ifrepair that damage as soon as reasonably possible, at its expense, unless: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is greater than Fifty Thousand Dollars ($50,000.00) and is not available from covered by Landlord’s insurance, including without limitation earthquake insuranceAll-Risk Policy (whether or not Landlord chooses to self-insure such coverage) or by Landlord’s other insurance coverages, plus such additional amounts Tenant elects, at its option, to contribute; excluding, excluding however however, the deductible (for which Tenant shall be responsible for Tenant’s Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including including, without limitation limitation, Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of a Default by Tenant has occurredoccurred at the time of such damage; or (iv) the material damage costs more than Fifty Thousand Dollars ($50,000.00) to repair and occurs during the final twelve nine (129) months of the TermTerm (unless Tenant has validly exercised its option to extend the Term contained in Section 3.3 of this Lease). Should Landlord elect not to repair the damage for one of the preceding reasons, Landlord shall so notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified of that notice. Tenant’s responsibility for termination by the reimbursement of deductibles contained in this Lease shall be subject to the following limitations: (A) Tenant shall have no responsibility for so-called “co-insurance” requirements for any deficiencies in Landlord’s Notice All-Risk Policy coverage; and (which termination date shall B) in no event be later than sixty shall Tenant’s obligation for payment or reimbursement of any deductible exceed the amount of One Hundred Thousand Dollars (60$100,000.00) days following for any single casualty. Further, in the date event that Landlord terminates this Lease pursuant to this Section 11.1(a), Tenant shall have no responsibility for reimbursement of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice)any deductible.

Appears in 1 contract

Samples: Industrial Lease (Ithaka Acquisition Corp)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is are not available from Landlord’s insuranceProperty Policy (or if Landlord chooses to self-insure all or any portion of such Property Policy coverage, that the necessary proceeds would not have been available if the Property Policy had been in place through third-party insurers) and/or from its other property insurance policies (if any), including without limitation proceeds to cover any earthquake insurancecasualty, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s ShareShare not to exceed One Hundred Thousand Dollars ($100,000.00) for any single casualty); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurredoccurred and is continuing; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated estimates that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice). In the event Landlord elects to terminate this Lease (but not in the event of a termination of this Lease by Tenant pursuant to Section 11.1(b) below), Tenant shall have no obligation for reimbursement of Landlord’s insurance deductible.

Appears in 1 contract

Samples: Lease (Senorx Inc)

Restoration. (a) If the Building of which the Premises or the Building or are a part thereof are materially is damaged by any fireas the result of an event of casualty, flood, earthquake or other casualtythen subject to the provisions below, Landlord shall have the right to terminate this Lease upon written notice to Tenant ifrepair that damage as soon as reasonably possible unless: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair would exceed ten percent (10%) of the full replacement cost of the Building ("Replacement Cost") and the damage is not available from covered by Landlord’s 's fire and extended coverage insurance (or by a normal extended coverage policy should Landlord fail to carry that insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share); or (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord cost of repair would exceed twenty-five percent (or cannot be safely repaired because 25%) of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damageReplacement Cost; or (iii) an uncured Event Landlord reasonably determines that the cost of Default by Tenant has occurred; or repair would exceed ten percent (iv10%) of the material Replacement Cost and the damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing ("Landlord’s 's Notice") within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s 's Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice).

Appears in 1 contract

Samples: Lease (Micrus Corp)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from Landlord’s 's insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s 's Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two three hundred seventy sixty five (270365) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the TermTerm as the Term maybe extended to Tenant pursuant to Section 3.3. Landlord shall notify Tenant in writing (“Landlord’s Notice”"LANDLORD'S NOTICE") within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s 's Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice).

Appears in 1 contract

Samples: Lease (Hyseq Inc)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualtyis damaged, Landlord shall have the right to terminate this Lease upon written notice to Tenant ifrepair that damage as soon as reasonably possible, at its expense, unless: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from covered by Landlord’s insurance, including without limitation earthquake insurance, 's fire and extended coverage insurance plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share's proportionate share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event event of Default default by Tenant has occurredoccurred and is continuing at the time of such damage; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing ("Landlord’s 's Notice") within sixty (60) days after the damage occurs as to (Ai) whether Landlord is terminating this Lease as a result of such material the damage and (Bii) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s 's Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s 's Notice).

Appears in 1 contract

Samples: Industrial Lease (Rainbow Technologies Inc)

Restoration. (a) If the Building of which the Premises or the Building or are a part thereof are materially damaged by any fire, flood, earthquake or other casualtyis damaged, Landlord shall have the right to terminate this Lease upon written notice to Tenant ifrepair that damage as soon as reasonably possible, at its expense, unless: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is greater than Fifty Thousand Dollars ($50,000.00) and is not available from covered by Landlord’s insurance, including without limitation earthquake insurance's All-Risk Policy (whether or not Landlord chooses to self-insure such coverage) or by Landlord's other insurance coverages, plus such additional amounts Tenant elects, at its option, to contribute; excluding, excluding however however, the deductible (for which Tenant shall be responsible for Tenant’s 's Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including including, without limitation limitation, Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of a Default by Tenant has occurredoccurred at the time of such damage; or (iv) the material damage costs more than Fifty Thousand Dollars ($50,000.00) to repair and occurs during the final twelve nine (129) months of the TermTerm (unless Tenant has validly exercised its option to extend the Term contained in Section 3.3 of this Lease). Should Landlord elect not to repair the damage for one of the preceding reasons, Landlord shall so notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified of that notice. Tenant's responsibility for termination by the reimbursement of deductibles contained in this Lease shall be subject to the following limitations: (A) Tenant shall have no responsibility for so-called "co-insurance" requirements for any deficiencies in Landlord’s Notice 's All-Risk Policy coverage; and (which termination date shall B) in no event be later than sixty shall Tenant's obligation for payment or reimbursement of any deductible exceed the amount of One Hundred Thousand Dollars (60$100,000.00) days following for any single casualty. Further, in the date event that Landlord terminates this Lease pursuant to this Section 11.1(a), Tenant shall have no responsibility for reimbursement of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice)any deductible.

Appears in 1 contract

Samples: Second Amendment to Lease (Alsius Corp)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualtyis damaged, Landlord shall have the right to terminate this Lease upon written notice to Tenant ifrepair that damage as soon as reasonably possible, at its expense, unless: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is not available from covered by Landlord’s insurance, including without limitation earthquake insurance, 's fire and extended coverage insurance plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s Share's proportionate share not to exceed Fifteen Thousand Dollars ($15,000.00); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event event of Default default by Tenant has occurredoccurred and is continuing at the time of such damage; or (iv) the material damage exceeds twenty percent (20%) of the replacement cost of the Building and occurs during the final twelve (12) months of the Term unless Tenant has then exercised or then elects to exercise its option to extend the Lease Term. Should Landlord elect not to repair the damage for one of the preceding reasons, Landlord shall so notify Tenant in writing (“Landlord’s Notice”) within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice of that notice. In addition to the foregoing, if the Building is damaged during the last twelve (which termination date 12) months of the Lease Term, or any extension thereof, and such damage exceeds twenty percent (20%) of the replacement cost of the Building, Tenant shall in no event be later than sixty (60) days following have the right to terminate the Lease as of the date of such damage or destruction by written notice given to Landlord within thirty (30) days after the damage, or, if no occurrence of such date is specified, such termination shall be the date of Landlord’s Notice)damage or destruction.

Appears in 1 contract

Samples: Industrial Lease (Scoop Inc/De)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair (exclusive of any deductible up to seven and one-half percent of the loss amount) is not available from covered by Landlord’s insuranceinsurance that Landlord is required to maintain by this Lease which Landlord carries and includes as part of Operating Expenses, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s ShareShare as an Operating Expense); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy one (2701) days year after the date of the damage; (iii) an uncured Event of Default by Tenant has occurredoccurred and remains uncured at the time of such casualty; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing (“Landlord’s Notice”) within sixty thirty (6030) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of Landlord’s Notice). Notwithstanding the foregoing, Landlord shall only have the right to terminate this Lease under (i) above if Landlord terminates the leases of all tenants in the Project similarly damaged by such casualty and such tenants have comparable rights and obligations in the event of such casualty.

Appears in 1 contract

Samples: Lease (Broadcom Corp)

Restoration. (a) If the Premises or the Building or a part thereof are materially damaged by any fire, flood, earthquake or other casualty, Landlord shall have the right to terminate this Lease upon written notice to Tenant if: (i) Landlord reasonably determines that proceeds necessary to pay the full cost of repair is are not available from Landlord’s 's insurance, including without limitation earthquake insurance, plus such additional amounts Tenant elects, at its option, to contribute, excluding however the deductible (for which Tenant shall be responsible for Tenant’s 's Share); (ii) Landlord reasonably determines that the Premises cannot, with reasonable diligence, be fully repaired by Landlord (or cannot be safely repaired because of the presence of hazardous factors, including without limitation Hazardous Materials, earthquake faults, and other similar dangers) within two hundred seventy (270) days after the date of the damage; (iii) an uncured Event of Default by Tenant has occurred; or (iv) the material damage occurs during the final twelve (12) months of the Term. Landlord shall notify Tenant in writing ("Landlord’s 's Notice") within sixty (60) days after the damage occurs as to (A) whether Landlord is terminating this Lease as a result of such material damage and (B) if Landlord is not terminating this Lease, the number of days within which Landlord has estimated that the Premises, with reasonable diligence, are likely to be fully repaired. In the event Landlord elects to terminate this Lease, this Lease shall terminate as of the date specified for termination by Landlord’s 's Notice (which termination date shall in no event be later than sixty (60) days following the date of the damage, or, if no such date is specified, such termination shall be the date of the Landlord’s 's Notice).

Appears in 1 contract

Samples: Lease (Altris Software Inc)

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