Common use of Lessor's Obligation Clause in Contracts

Lessor's Obligation. Lessor, shall maintain or cause to be maintained, at Lessor’s sole cost and expense, in good working order and first class condition and repair, in compliance with all laws and in accordance with standards customarily maintained by the owners of the Comparable Maintenance Standards Buildings, the Exterior Common Areas, the garage located in the Building (including, without limitation, the Base Building Systems to the extent they serve the garage) and the electrical, water, sewer and other utility lines that run between the exterior boundary of the Building and the respective utility providers junction box in the public right of way (collectively, the “Lessor Exterior Work”); provided, however, that Lessee shall pay Lessee’s Percentage of the Operating Expenses with respect to the Exterior Common Areas. In addition, Lessor shall (x) at Lessor’s sole cost and expense, maintain or cause to be maintained the Structural Elements (as defined below) in good working order and first class condition and repair, in compliance with all laws and in accordance with standards customarily maintained by the owners of the Comparable Maintenance Standards Buildings (collectively, the “Structural Work”), and (y) if any Capital Work (as defined below) is required, Lessor shall perform such work, provided, that the cost of such work may be included within Operating Expenses measured with respect to the Building to the extent permitted pursuant to Paragraph 2(a)(iii) of the Addendum attached to this Second Amendment as Exhibit A, and, if it is so permitted to be included, Lessee shall be obligated to pay the amortized costs of such work in connection with Lessee’s payment of Lessee’s Percentage of Operating Expenses with respect to the Building. The term “Structural Elements” shall mean the structural portions of the roof, foundations, and structural walls (excluding any exterior façade or exterior finish), the floor slab, the foundation and the footings of the Building. The determination of whether or not Capital Work is required shall be made in accordance with standards customarily maintained by the owners of the Comparable Maintenance Standards Buildings. As used herein, the term “Capital Work” shall mean repair, improvements or replacements that are considered capital repairs, improvements or replacements under generally accepted accounting principles that are consistent with industry standards and sound management practices, provided that if any repair, improvement or replacement work required at the Building would cost less than Four Thousand Dollars ($4,000) to complete, then such repair, improvement or replacement shall not constitute Capital Work hereunder and shall be performed by Lessee pursuant to Paragraph 11(a) above. As used herein, the term “Lessor Work” shall mean “Structural Work” and “Capital Work,” collectively. Notwithstanding the foregoing or anything to the contrary herein, Lessee shall pay the cost of repairs for any damage to the Structural Elements, elements which would comprise items of Capital Work or the Exterior Common Areas caused by Lessee’s negligence, willful misconduct or the installation of any Alterations, to the extent (if any) not covered by the property insurance required to be carried by Lessor under the Lease.