Common use of Damage Near End of Term Clause in Contracts

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 48 contracts

Sources: Annual Report, Form 10 K/A, Lease Agreement (Collateral Therapeutics Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Lessee's option shall be extinguished.

Appears in 37 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease (Cii Financial Inc), Standard Industrial/Commercial Single Tenant Lease (Guitar Center Inc), Standard Industrial/Commercial Single Tenant Lease (Telocity Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 21 contracts

Sources: Lease Agreement (Compgeeks Inc), Standard Industrial/Commercial Single Tenant Lease Gross (Boyds Wheels Inc), Standard Industrial/Commercial Single Tenant Lease Net (Staar Surgical Company)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 15 contracts

Sources: Lease Agreement (Gsi Technology Inc), Lease Agreement (Gsi Technology Inc), Lease Agreement (Staar Surgical Company)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 8 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease Gross (Bikers Dream Inc), Standard Industrial/Commercial Single Tenant Lease (Formfactor Inc), Standard Industrial/Commercial Single Tenant Lease (Interactive Flight Technologies Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's ’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's ’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ’s receipt of Lessor's ’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's ’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 4 contracts

Sources: Lease Agreement (Parametric Sound Corp), Standard Industrial/Commercial Multi Tenant Lease (Interactive Health, Inc.), Lease Agreement (Overstock Com Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day Initials:________ ________ -8- prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 4 contracts

Sources: Purchase and Sale Agreement (Artest Corp), Purchase and Sale Agreement (Artest Corp), Sublease Agreement (Artest Corp)

Damage Near End of Term. If II at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of o1 such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after alter the date ▇▇▇▇ of occurrence of such damage. Provided, however, if If Lessee at al that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance Insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date ▇▇▇▇ which is ten Is Ian (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date ▇▇▇▇ upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full lull force and effect. If II Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 4 contracts

Sources: Lease Agreement (Amexdrug Corp), Lease Agreement (Amexdrug Corp), Lease Agreement (Amexdrug Corp)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance assurances thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 3 contracts

Sources: Lease Agreement (Micromem Technologies Inc), Lease Agreement (Micromem Technologies Inc), Lease Agreement (Micromem Technologies Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails falls to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 3 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease Net (Who Vision Systems Inc /Fl), Standard Industrial/Commercial Single Tenant Lease Net (Netcom Systems Inc), Standard Industrial/Commercial Single Tenant Lease Net (Netcom Systems Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or for adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 3 contracts

Sources: Assignment and Assumption of Sublease (Marimba Inc), Assignment and Assumption of Sublease (Marimba Inc), Assignment and Assumption of Sublease (Marimba Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's ’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's ’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ’s receipt of Lessor's ’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's ’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 3 contracts

Sources: Lease Agreement (Emmaus Holdings, Inc.), Standard Industrial/Commercial Multi Tenant Lease (Emmaus Holdings, Inc.), Standard Industrial/Commercial Multi Tenant Lease (Align Technology Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor Landlord may, at Lessor's Landlord’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee Tenant of Lessor's Landlord’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Tenant’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Multi Tenant Lease Modified Net (ADESTO TECHNOLOGIES Corp), Standard Industrial/Commercial Multi Tenant Lease (Opnext Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease Term (or the last 6 months of any Renewal Term) there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, Landlord may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so Tenant within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee Tenant may preserve this Lease by (a) exercising such option, option and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ▇▇▇▇▇▇’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's expense Landlord’s commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Tenant’s option shall be extinguished.

Appears in 2 contracts

Sources: Lease Agreement (Astra Space, Inc.), Lease Agreement (Astra Space, Inc.)

Damage Near End of Term. If at any time during the last six twelve (612) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor either party may, at Lessor's either party’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessor's their election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Tenant’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease Modified Net (Ooma Inc), Standard Industrial/Commercial Single Tenant Lease Modified Net (Ooma Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Multi Tenant Lease (Intek Information Inc), Lease Agreement (Intek Information Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Lease Agreement (Gametech International Inc), Lease Addendum (Gametech International Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails falls to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5.option to the contrary. SEE ADDENDUM #58

Appears in 2 contracts

Sources: Lease Agreement (Meade Instruments Corp), Lease Agreement (Meade Instruments Corp)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this this- Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Multi Tenant Lease (DCH Technology Inc), Standard Industrial/Commercial Multi Tenant Lease (DCH Technology Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, ; or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Lease Agreement (Homestead Com Inc), Standard Industrial/Commercial Multi Tenant Lease (Homestead Com Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresexpire. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Lease Agreement (Objectshare Inc), Lease Agreement (Starbase Corp)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage to the Premises for which the cost to repair (other than the repair of Tenant’s Trade Fixtures or Tenant-Owned Alterations and Utility Installations) exceeds one month's three (3) months’ Base Rent, whether or not an Insured Loss, Lessor Landlord may, at Lessor's Landlord’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee Tenant of Lessor's Landlord’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Tenant’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Lease (Penumbra Inc), Lease (Penumbra Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's ' expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Lease Agreement (Pets Com Inc), Lease Agreement (Pets Com Inc)

Damage Near End of Term. If 10.5.1 Except as otherwise indicated below and as set forth in Section 8.2 above, if at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, may terminate this Lease effective sixty (60) 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) 30 days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) 10 days after Lessee's ’s receipt of Lessor's ’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense ’s commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence termination notice and Lessee’s option shall be extinguished. 10.5.2 Provided, however, that the HVAC units that are installed by Lessee to service its clean room, and the clean room itself, shall not be subject to the foregoing provisions. Instead, Lessee shall have discretion as to whether to expend Lessee’s own funds to repair or replace such items in the event of this Paragraph 9.5damage described in Section 10.5.1 above, and Lessor shall have no responsibility therefor.

Appears in 2 contracts

Sources: Industrial/Commercial Multi Tenant Lease (Genelux Corp), Industrial/Commercial Multi Tenant Lease (Genelux Corp)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage to the Premises for which the cost to repair (other than the repair of Tenant’s Trade Fixtures or Tenant-Owned Alterations and Utility Installations) exceeds one month's three (3) months’ Base Rent, whether or not an Insured Loss, Lessor Landlord may, at Lessor's Landlord’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee Tenant of Lessor's Landlord’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Tenant’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails Tenant falls to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Lease (Penumbra Inc), Lease Agreement (Penumbra Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 2 contracts

Sources: Lease Agreement (Future Media Productions), Lease Agreement (Future Media Productions)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee▇▇▇▇▇▇'s receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Lease Agreement (Mohawk Industries Inc), Lease Agreement (Supergen Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60sixty,(60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Single Tenant Lease Net (Burke Industries Inc /Ca/), Standard Industrial/Commercial Single Tenant Lease Net (Burke Industries Inc /Ca/)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option Option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. , If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 2 contracts

Sources: Lease Agreement (Futon World Inc), Lease Agreement (Futon World Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Myo Diagnostics Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term Term of this Lease there is damage Damage for which the cost to of repair exceeds one (1) month's Base ’s worth of Annual Rent, whether or not an Insured Loss, Lessor Landlord or Tenant may, at Lessor's either’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage Damage by giving written notice to Lessee the other of Lessor's that party’s election to do so within thirty (30) days after the date of occurrence of such damageDamage. Provided, however, if Lessee at that time Tenant has an exercisable option to extend this Lease or to purchase the Premisesat that time, then Lessee Tenant may preserve this Lease by by, within twenty (a20) days following the occurrence of the Damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier (“Exercise Period”), (i) exercising such option, option and (bii) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresextent required of Tenant under Section 16.2. If Lessee Tenant duly exercises such option during such period said Exercise Period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceedsproceeds to the extent required of Tenant under Section 16.2, Lessor shalland subject to the provisions of Sections 16.2 and 16.3 of this Lease, at Lessor's expense Landlord shall commence repair of such damage Damage as soon as reasonably possible practicable, but no later than the Restoration Commencement Date and complete repair of such Damage as soon as practicable but no later than the Restoration Completion Date, and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Landlord may at Landlord’s option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such Damage by giving written notice to Tenant of Landlord’s election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Build to Suit Lease (Intuit Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.59.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Chatcom Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) BUSINESS days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Identix Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense Initials____ PAGE 10 11 repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease Net (Microtel International Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease Lease 14. effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of the Exercise Price, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Clontech Laboratories Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5Paragraph.

Appears in 1 contract

Sources: Lease Agreement (Restoration Hardware Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease Lease, by within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD") (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such said Exercise period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of the said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Standard Industrial Lease (Titan Corp)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease Term there is damage for which the cost to repair exceeds one two (2) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. ProvidedIn the event Lessee, howeverat the time of such damage, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Commercial Lease (American Consolidated Management Group Inc)

Damage Near End of Term. If at In the event that the Premises, the Building, or the Project is destroyed or damaged to any time substantial extent during the last six twelve (612) months of the term of Lease Term (as the same may have been extended), then notwithstanding anything contained in this Lease there is damage for which Article 8, Landlord or Tenant shall have the cost option to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective by giving written notice to the other party of the exercise of such option within sixty (60) days following after the date of occurrence necessity for repairs as the result of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Providedor destruction becomes known, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and event this Lease shall continue in full force cease and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth of such notice. Tenant shall pay the Base Rent and Additional Rent, properly apportioned up to such date of damage, and both parties hereto shall thereafter be freed and discharged of all further obligations hereunder, except as provided for in the first sentence provisions of this Paragraph 9.5Lease which by their terms survive the expiration or earlier termination of the Lease Term. Notwithstanding the foregoing, however, if Landlord’s notice of termination is given more than nine (9) months before the expiration of the Term and Tenant has an unexercised option to renew under Section 2.2, subject to the provisions of Section 8.2, Tenant may override Landlord’s termination notice given under this Section 8.4 by exercising the option to renew by written notice within ten (10) business days of Tenant’s receipt of Landlord’s notice of termination, in which case this Lease will remain in full force and effect and Landlord will repair/restore the Damage as provided above.

Appears in 1 contract

Sources: Office Lease (Health Net Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor Lessee may, at Lessor's option, terminate this Lease effective effectively sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Canmax Inc /Wy/)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the PremisesPromises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (iiif) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If It Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Standard Office Lease (Orange National Bancorp)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, Landlord or Tenant may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other Party of Lessor's its election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, that if Lessee Landlord elects to end the Lease pursuant to this Paragraph 9.5 but Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by (a) exercising such option, and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's Tenant’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Rita Medical Systems Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is a damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, Provided however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Single Tenant Lease Net (Orthologic Corp)

Damage Near End of Term. If Subject to the following sentence, if at any time during the last six (6) months year of the term Term of this Lease as extended from time to time there is damage for which the cost to repair exceeds one month's Base Rentsubstantial damage, whether or not an Insured Loss, Lessor maywhich falls within the classification of Partial Damage, either party may at Lessor's option, its option cancel and terminate this Lease effective sixty (60) days following as of the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so the other party, within thirty (30) days after the date of occurrence of such damage, of the: first party's election to terminate. ProvidedNotwithstanding the foregoing, however, if Lessee at in the event that time Tenant has an exercisable option to extend or renew this Lease or to purchase Lease, and the Premisestime within which said option may be exercised has not yet expired, then Lessee may preserve this Lease by (a) exercising Tenant shall exercise such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed if it is to make the repairs on or before the earlier of (i) the date which is ten (10) be exercised at all, no later than thirty days after Lessee's receipt the occurrence of Lessor's written notice purporting to terminate this Lease, or (ii) an Insured Loss falling within the day prior to classification of Partial Damage during the date upon which such option expireslast year of the Term. If Lessee Tenant duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceedsthe thirty day period, Lessor Landlord shall, at LessorLandlord's expense expense, repair such damage damage, but not Tenant's fixtures, equipment or tenant improvements, as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that if Landlord has maintained the required insurance coverages as set forth in Section 11.3, in no event shall Landlord be obligated to spend for such repairs more than the amount of available insurance proceeds, plus the amount of any deductible elected by Landlord. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such the thirty day period, then Landlord may at Landlord's option terminate and cancel this Lease shall terminate as of the date set forth in of the first sentence occurrence of this Paragraph 9.5such damage.

Appears in 1 contract

Sources: Standard Industrial Lease (Sports Arenas Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if it Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or funds:(or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Sunrise Telecom Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor or Lessee may, at Lessor's option, its option terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessor's its election to do so within thirty ▇▇▇▇▇ (30) days after the date of occurrence of such damagedamages. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by to (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Maxwell Laboratories Inc /De/)

Damage Near End of Term. If It at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if it Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If It Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in In full force and effect. If It Lessee fails tails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Lease Agreement (Paramark Enterprises Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) exercising days following the occurrence of the damage, or before the expiration of the time provided in such optionoption for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercise such option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Lease Agreement (Hydrogen Burner Technology Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Commercial Lease Agreement (Software Com Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provideddamage provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Ventures National Inc)

Damage Near End of Term. If at any time during the last six twelve (612) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent$50,000.00, whether or not an Insured Loss, Lessor or Lessee, may, at Lessor's their own option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Accelerated Networks Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee lessee duly exercises such option during such said Exercise period and provides Lessor lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term of provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Modtech Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to for repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Commercial Single Tenant Lease (Cryenco Sciences Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, however if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease Net (Telenetics Corp)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease Original Term or the Option Term then in effect, as the case may be, there is damage for which the cost to repair exceeds one month's two (2) months’ Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's ’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's ’s election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ’s receipt of Lessor's ’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's ’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Aperion Biologics, Inc.)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with Lesser any shortage in insurance proceeds (( or adequate assurance thereofthereof ) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, . Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effectaffect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Align Technology Inc)

Damage Near End of Term. If at any time during the last six two (62) months of the term years of this Lease there is damage for which the cost to repair exceeds one month's Base Minimum Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, Landlord may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so Tenant within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee Tenant at that time has an exercisable option Option to extend this Lease or to purchase the Premises, then Lessee Tenant may preserve this Lease by by, (a) exercising such option, Option and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after LesseeTenant's receipt of LessorLandlord's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option Option expires. If Lessee Tenant duly exercises such option Option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at LessorLandlord's expense commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option Option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Tenant's Options shall be extinguished.

Appears in 1 contract

Sources: Standard Form Lease (Sports Club Co Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following follow the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails falls to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Lease Agreement (Cmgi Inc)

Damage Near End of Term. If at any time during the last six three (63) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Keith Companies Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this the Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (La Jolla Pharmaceutical Co)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (I) month's Base Monthly Basic Rent, whether or not an Insured Loss, Lessor Landlord may, at LessorLandlord's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee Tenant of LessorLandlord's election to do so within thirty (30) days after the date of occurrence of such damage. Provided; provided, however, that if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the Premises, Premises then Lessee Tenant may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period") (i) exercising such option, option and (bii) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee Tenant duly exercises such option during such said Exercise period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at LessorLandlord's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Landlord may at Landlord's Option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Tenant of Landlord's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term of provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Lease Agreement (Infocrossing Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Lease Agreement (Guitar Center Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of or (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Razorfish Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then than Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Natural Alternatives International Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Purchase Agreement (Industrial Rubber Products Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty five (305) days after the date of occurrence of such damage. Provided; provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) if such damage results from an Uninsured Loss, providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, if such damage results from an Uninsured Loss, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence of this Paragraph 9.5grant to the contrary.

Appears in 1 contract

Sources: Standard Industrial/Commercial Lease (Skechers Usa Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Lease Agreement (Microtel International Inc)

Damage Near End of Term. If Subject to the following sentence, if at any time during the last six (6) months year of the term Term of this Lease as extended from time to time there is damage for which the cost to repair exceeds one month's Base Rentsubstantial damage, whether or not an Insured Loss, Lessor maywhich falls within the classification of Partial Damage, Landlord may at Lessor's option, its option cancel and terminate this Lease effective sixty (60) days following as of the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so Tenant, within thirty (30) days after the date of occurrence of such damage, of Landlord’s election to terminate. ProvidedNotwithstanding the foregoing, however, if Lessee at in the event that time Tenant has an exercisable option to extend or renew this Lease or to purchase Lease, and the Premisestime within which said option may be exercised has not yet expired, then Lessee may preserve this Lease by (a) exercising Tenant shall exercise such option, and if it is to be exercised at all, no later than thirty (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (1030) days after Lessee's receipt the occurrence of Lessor's written notice purporting to terminate this Lease, or (ii) an Insured Loss falling within the day prior to classification of Partial Damage during the date upon which such option expireslast year of the Term. If Lessee Tenant duly exercises such option during such period and provides Lessor with funds the thirty (or adequate assurance thereof) to cover any shortage in insurance proceeds30)-day period, Lessor Landlord shall, at Lessor's expense Landlord’s expense, repair such damage damage, but not Tenant’s fixtures, equipment or tenant improvements, as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that in no event shall Landlord be obligated to spend for such repairs more than the amount of available insurance proceeds, plus the amount of any deductible elected by Landlord. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such the thirty (30)-day period, then Landlord may at Landlord’s option terminate and cancel this Lease shall terminate as of the date set forth in of the first sentence occurrence of this Paragraph 9.5such damage.

Appears in 1 contract

Sources: Standard Industrial Lease (ONCOSEC MEDICAL Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease Term (or the last 6 months of any Renewal Term) there is damage for which the cost to repair exceeds one month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, Landlord may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so Tenant within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee Tenant may preserve this Lease by by (a) exercising such option, option and (b) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ▇▇▇▇▇▇’s receipt of Lessor's Landlord’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee Tenant duly exercises such option during such period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at Lessor's expense Landlord’s commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Tenant’s option shall be extinguished.

Appears in 1 contract

Sources: Lease Agreement

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may mar preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense shall repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease (Ilive Inc/Nv)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease (as extended by Lessee pursuant to any of Lessee's renewal options), there is damage for which the cost to repair exceeds one month's four (4) months' Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, either party may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessor's its election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Combichem Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage Premises Partial Damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, or Lessee may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so the other party within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as on the date specified in the termination notice and Lessee's option shall be extinguished. Notwithstanding anything in this section to the contrary, if Lessee elects to exercise its option to extend the Lease and the loss is an Insured Loss, Lessee shall not be obligated to contribute funds for repair or rebuilding in excess of the date set forth in the first sentence of this Paragraph 9.5amount Lessee is obligated to contribute under Section 9.2.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Remec Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following (allowing the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Datron Systems Inc/De)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days 10)days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Lessee's option shall be extinguished.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Sionix Corp)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever of earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease Net (Deltagen Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then than Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Imagemax Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that the time has an exercisable option to extend this the Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence termination notice and Lessee's option shall be extinguished. In the event of this Paragraph 9.5such termination, Lessor shall be entitled to obtain and retain all insurance proceeds payable on account of such Total Destruction; provided, that so long as the amount which Lessor is able to recover from the insurance carriers is not thereby reduced, Lessee shall have the right to obtain and retain insurance proceeds on account of damage to its Trade Fixtures and personal property.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease Net (United Defense Industries Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term Term of this Lease there is damage for which the cost to repair exceeds one (1) month's ’s Annual Base Rent, whether or not an Insured Loss, Lessor Landlord may, at Lessor's Landlord’s option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee Tenant of Lessor's Landlord’s election to do so within thirty fifteen (3015) days after the date of occurrence of such damage. Provided; provided, however, that if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the PremisesLease, then Lessee Tenant may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier (“Exercise Period”), (i) exercising such option, and (bii) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee Tenant duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceedssaid Exercise Period, Lessor Landlord shall, at Lessor's Landlord’s expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and during said Exercise Period or fails to provide such Landlord with funds (or adequate assurance during such periodthereof) to cover any shortage in insurance proceeds, then either party may at its option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to the other within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Office Lease (Zones Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Cmgi Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty shiny (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance Insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor▇▇▇▇▇▇'s written notice purporting to terminate this Lease, or (iiII) the day prior to the date upon which such option expires. If It Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease (Empyrean Bioscience Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor and Lessee may, at Lessor's option, terminate this Lease effective sixty thirty (6030) days following the date of occurrence of such damage by giving written notice to Lessee the other of Lessor's its election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that this time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides provide Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Ciphergen Biosystems Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is a damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, Provided however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or for adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and NET FORM L001 6/91 Initials MS ----- JC,PC ----- 6 provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Single Tenant Lease Net (Southwall Technologies Inc /De/)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i1) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails falls to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (21st Century Technologies Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date Date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after alter Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Align Technology Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or for adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Purchase and Sale Agreement (Pacific Gulf Properties Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, either party may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessor's its election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Commercial Multi Tenant Lease (Cardiodynamics International Corp)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease (as extended by Lessee pursuant to any of Lessee's exercised renewal options), there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is either ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance Insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Sublease Agreement (Genoptix Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of or Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Vans Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or for adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease (Intertrust Technologies Corp)

Damage Near End of Term. If at any time during the last six (6) 12 months of the term of this Lease there is damage for which the cost to repair exceeds one month's month of Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, LANDLORD may terminate this Lease effective sixty (60) 60 days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so TENANT within thirty (30) 30 days after the date of LANDLORD'S receipt of notification from TENANT of the occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee TENANT at that time has an exercisable option right to extend this Lease or to purchase the Premisespremises, then Lessee TENANT may preserve this Lease by (a) exercising such option, right and (b) providing Lessor LANDLORD with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) 10 days after Lessee's TENANT'S receipt of Lessor's LANDLORD'S written notice purporting to terminate this Lease, or Lease and (ii) the day prior to the date upon which such option right expires. If Lessee TENANT duly exercises such option right during such period and provides Lessor LANDLORD with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor LANDLORD shall, at Lessor's expense LANDLORD'S commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee TENANT fails to exercise such option right and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and TENANT'S right shall be extinguished.

Appears in 1 contract

Sources: Property Lease (Quality Products Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("EXERCISE PERIOD"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Leaserepairs. If, or (ii) the day prior to the date upon which such option expires. If and only if, Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Lease Agreement (Eroom System Technologies Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease Term there is damage for which the cost to repair exceeds one three (3) month's Base Basic Rent, whether or not an Insured Loss, Lessor Landlord or Tenant may, at Lessorsuch party's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessorthe notifying party's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, howeverPROVIDED, HOWEVER, if Lessee Tenant at that time has an exercisable option to extend this Lease or to purchase the Premiseswhich has not expired, then Lessee Tenant may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor Landlord with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee Tenant duly exercises such option during such period said Exercise Period and provides Lessor Landlord with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor Landlord shall, at LessorLandlord's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Landlord may at Landlord's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Tenant of Landlord's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Lease Agreement (Clontech Laboratories Inc)

Damage Near End of Term. If at any time during the last six fifteen (615) months of the term Term of this Lease there is damage for which the cost to repair exceeds one three (3) month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written termination notice to Lessee of Lessor's election to do so within thirty sixty (3060) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time time, has an exercisable option to extend this Lease or to purchase the PremisesExtension Option under Paragraph 52, below, then Lessee may preserve this Lease by by, (a) exercising such option, Extension Option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ’s receipt of Lessor's ’s written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option Extension Option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense ’s commercially reasonable expense, repair such damage as soon as reasonably possible possible, and this Lease shall continue in full force and effecteffect (i.e., the damages shall be treated as a Premises Partial Damage and the provisions of Paragraph 9.2 or 9.3, above, as applicable, shall apply). If Lessee fails to exercise such option Extension Option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence termination notice and Lessee’s Extension Option shall be null, void and of this Paragraph 9.5no force or effect.

Appears in 1 contract

Sources: Industrial Lease (Solyndra, Inc.)

Damage Near End of Term. If at any time during the last six (6) 6 months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, or Lessee may terminate this Lease (but Lessee's termination rights shall only apply if Lessee did not cause the damage) effective sixty 60 thirty (6030) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) 30 days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, . then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i1) the date which is ten (10) 10 days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, ;Lessor shall, at Lessor's expense commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Lessee's option shall be extinguished.

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease Net (Divine Inc)

Damage Near End of Term. If at any time during the last twelve (12) months of the initial term of this Lease, or during the last six (6) months of the term of this Lease any option term, there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor or Lessee may, at Lessor's their option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee the other party of Lessor's such election to do so within thirty (30) days after the date of the occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with the required funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Lease Agreement (Modtech Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by (a) exercising such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of the date set sot forth in the first sentence of this Paragraph 9.5.

Appears in 1 contract

Sources: Lease Agreement (Sonicport Com)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's ’s Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, may terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving a written termination notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, howeverNotwithstanding the foregoing, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, (a) exercising such option, option and (b) Initials /s/ DEH/PAS providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's ’s receipt of Lessor's ’s written notice ??ce purporting to terminate this Lease, or (ii) the day prior to ???? the date upon which such option expires. If Lessee duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance Insurance proceeds, Lessor shall, at Lessor's expense ’s commercially reasonable expense, repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such period, then this Lease shall terminate as of on the date set forth specified in the first sentence of this Paragraph 9.5termination notice and Lessee’s option shall be extinguished.

Appears in 1 contract

Sources: Lease Amendment (Copart Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Loss, Lessor may, at Lessor's option, terminate this Lease effective sixty (60) days following the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within thirty (30) days after the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, and (bii) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth expiration of said sixty (60) day period following the occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease (Interwave Communications International LTD)

Damage Near End of Term. If Subject to the following sentence, if at any time during the last six (6) months year of the term Term of this Lease as extended from time to time there is damage for which the cost to repair exceeds one month's Base Rentsubstantial damage, whether or not an Insured Loss, Lessor maywhich falls within the classification of Partial Damage, either Tenant or Landlord may at Lessor's option, its option cancel and terminate this Lease effective sixty (60) days following as of the date of occurrence of such damage by giving written notice to Lessee of Lessor's election to do so the other party, within thirty (30) days after the date of occurrence of such damage, of its election to terminate. ProvidedNotwithstanding the foregoing, however, if Lessee at in the event that time Tenant has an exercisable option to extend or renew this Lease or to purchase Lease, and the Premisestime within which said option may be exercised has not yet expired, then Lessee may preserve this Lease by (a) exercising Tenant shall exercise such option, and (b) providing Lessor with any shortage in insurance proceeds (or adequate assurance thereof) needed if it is to make the repairs on or before the earlier of (i) the date which is ten (10) be exercised at all, no later than thirty days after Lessee's receipt the occurrence of Lessor's written notice purporting to terminate this Lease, or (ii) an Insured Loss falling within the day prior to classification of Partial Damage during the date upon which such option expireslast year of the Term. If Lessee Tenant duly exercises such option during such period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceedsthe thirty day period, Lessor Landlord shall, at LessorLandlord's expense expense, repair such damage damage, but not Tenant's fixtures, equipment or tenant improvements, as soon as reasonably possible and this Lease shall continue in full force and effect; provided, however, that in no event shall Landlord be obligated to spend for such repairs more than the amount of available insurance proceeds, plus the amount of any deductible elected by Landlord. If Lessee Tenant fails to exercise such option and provide such funds or assurance during such the thirty day period, then Landlord may at Landlord's option terminate and cancel this Lease shall terminate as of the date set forth in of the first sentence occurrence of this Paragraph 9.5such damage.

Appears in 1 contract

Sources: Standard Industrial Lease (Redline Performance Products Inc)

Damage Near End of Term. If at any time during the last six (6) months of the term of this Lease there is damage for which the cost to repair exceeds one (1) month's Base Rent, whether or not an Insured Lossinsured loss, Lessee or Lessor may, at Lessor's its option, terminate this Lease effective sixty (60) days following on the date of occurrence of such damage by giving written notice to Lessee of Lessor's Lessors election to do so within thirty (30) days after alter the date of occurrence of such damage. Provided, however, if Lessee at that time has an exercisable option to extend this Lease or to purchase the Premises, then Lessee may preserve this Lease by by, within twenty (a20) days following the occurrence of the damage, or before the expiration of the time provided in such option for its exercise, whichever is earlier ("Exercise Period"), (i) exercising such option, option and (bif) providing Lessor with any shortage in insurance proceeds (or for adequate assurance thereof) needed to make the repairs on or before the earlier of (i) the date which is ten (10) days after Lessee's receipt of Lessor's written notice purporting to terminate this Lease, or (ii) the day prior to the date upon which such option expiresrepairs. If Lessee duly exercises such option during such period said Exercise Period and provides Lessor with funds (or adequate assurance thereof) to cover any shortage in insurance proceeds, Lessor shall, at Lessor's expense repair such damage as soon as reasonably possible and this Lease shall continue in full force and effect. If Lessee fails to exercise such option and provide such funds or assurance during such periodsaid Exercise Period, then Lessor may at Lessor's option terminate this Lease shall terminate as of the date set forth occurrence of such damage by giving written notice to Lessee of Lessor's election to do so within ten (10) days after the expiration of the Exercise Period, notwithstanding any term or provision in the first sentence grant of this Paragraph 9.5option to the contrary.

Appears in 1 contract

Sources: Standard Industrial/Commercial Single Tenant Lease Net (William Lyon Homes)