Partial Destruction. In the event of a partial destruction of the Building containing the Premises during the Term of this Lease from any cause, Landlord shall forthwith repair the same, provided such repair can reasonably be made within ninety (90) days from the date of the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”). During any Landlord repair period, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay. If the restoration time is estimated to exceed ninety (90) days following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete the repairs.
Appears in 2 contracts
Sources: Lease Agreement, Lease Agreement (Truck Hero, Inc.)
Partial Destruction. In If this Lease is not terminated pursuant to Section 9.1, Landlord must proceed with reasonable diligence to rebuild or repair the event of a partial destruction Building, Premises, and other improvements to substantially the same condition in which they existed prior to the damage. If Tenant's use of the Building containing Premises or the conduct of its business is impaired because of the damage, regardless of whether the Premises are themselves damaged, the Rent payable under this Lease during the Term period of impairment will be equitably reduced based on the degree to which Tenant's use and enjoyment of the Premises are impaired. The reduction in the Rent will continue until the first to occur of (i) the 60th day after the date Landlord completes restoration of the Premises and Building to substantially the condition existing prior to the damage or (ii) the date Tenant resumes full operation of its business from the Premises. Landlord's obligation to rebuild or restore under this Section is limited to restoring the Premises and Building to substantially the condition in which they existed prior to the damage, exclusive of improvements for which Tenant is responsible under the terms of this Lease. Promptly following Landlord's completion of its work, Tenant, at its sole cost and expense, must proceed with reasonable diligence to restore those improvements for which Tenant is responsible under this Lease from any cause, to substantially the condition in which they existed prior to the damage. If this Lease is not terminated pursuant to Section 9.1 and Landlord shall forthwith repair falls to substantially complete the same, provided such repair can reasonably be made necessary repairs or reconstruction within ninety (90) 180 days from the date of Landlord's receipt of written notification of the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”). During any Landlord repair perioddamage, Tenant shall be entitled may terminate this Lease by delivering written notice of termination to a proportionate reduction Landlord. All rights and obligations of rent to Tenant under this Lease will terminate as of the extent such repairs unreasonably interfere with date of the business carried on by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delaycasualty. If the restoration time is estimated damage to exceed ninety the Premises or the Building occurs during the last 12 months of the Term (90or any applicable Renewal Term) days following and the date Landlord issues the Restoration Noticedamage cannot be fully repaired within 30 days, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (effective as hereinafter defined); and this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following of the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused damage by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior giving Landlord written notice of its election to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant do so within ten (10) 30 days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete occurrence of the repairsdamage.
Appears in 1 contract
Partial Destruction. In If, following damage or destruction to the event of a partial destruction Leased Premises or Building by fire or other casualty, this Lease is not terminated pursuant to Section 7.1 hereof, Lessor shall proceed with reasonable diligence to rebuild or repair the Building, Leased Premises and other improvements to substantially the same condition in which they existed prior to the damage. if Lessee's use of the Building containing Leased Premises or the conduct of its business is impaired due to the damage, whether or not the Leased Premises are themselves damaged, the rent payable under this Lease during the Term period of impairment shall be equitably reduced based on the degree to which Lessee's use and enjoyment of the Leased Premises are impaired. Lessor's obligation to rebuild or restore under this Section 7.2 shall be limited to restoring the Leased Premises and Building to substantially the condition in which the same existed prior to the damage, exclusive of improvements which are not Building standard or for which Lessee is responsible under the terms of this Lease; in no event shall Lessor be required to repair or replace any part of the furniture, equipment, fixtures and other improvements which may have been placed by or, at the request of, Lessee or other occupants in the Building or the Leased Premises, and Lessor shall not in any event be required to spend f or such work an amount in excess of the insurance proceeds actually received by Lessor as a result of the fire or other casualty. Lessee shall, promptly after the completion of such work by Lessor, proceed with reasonable diligence and at Lessee's sole cost and expense to restore those improvements for which Lessee is responsible under the Lease from any causeto substantially the condition in which the same existed prior to the damage and to otherwise make the Leased Premises suitable for Lessee's use. If this Lease is not terminated pursuant to Section 7.1 above, Landlord shall forthwith repair and if Lessor fails to substantially complete the same, provided such repair can reasonably be made necessary repairs or rebuilding within ninety one hundred eighty (90180) days from the date of Lessor's receipt of written notification by Lessee of the Restoration Notice damage (as hereinafter definedexcept that Lessor shall not be responsible for delays outside its control). Landlord , Lessee may at its option terminate this Lease by delivering written notice of termination to Lessor, whereupon all rights and obligations of Lessee under this Lease shall notify Tenant within thirty (30) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”). During any Landlord repair period, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delaycease. If the restoration time is estimated to exceed ninety (90) days following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to terminate this Lease upon written notice damage to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate Leased Premises or the Building occurs during the last 12 months of the term of this Lease or if the third party fire any extension thereof, and such damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or lesscannot be fully repaired within 30 days, then Landlord shall promptlyLessee may terminate this Lease, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (effective as hereinafter defined); and this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following of the date of Landlord’s Restoration Noticethe damage, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior giving Lessor written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant thereof within ten (10) 30 days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete occurrence of the repairsdamage.
Appears in 1 contract
Sources: Office Lease (Amen Properties Inc)
Partial Destruction. If the Leased Premises are partially destroyed by ------------------- fire or any other casualty (as reasonably determined by Landlord), and if two or more years remain on the Base Term or any Option Term, Landlord shall restore or repair the Leased Premises with reasonable diligence. In the event of such restoration or repair, Landlord shall expend such sums as required to repair or restore the Leased Premises to the condition it was in immediately prior to the date of the destruction; provided, Landlord shall not be obligated to expend any sums for repair or replacement of Tenant's property nor shall Landlord be obligated to expend sums in excess of the insurance proceeds received by Landlord as a result of such damage or destruction. A just and proportionate part of the rent payable by Tenant, to the extent that such damage or destruction renders the Leased Premises untenantable, shall ▇▇▇▇▇ from the date of such damage or destruction until the Leased Premises are repaired. In the event of a partial destruction of loss from fire or other casualty where the Building containing the Premises during the Term terms of this Lease from any causedo not require the Landlord to restore or repair the Warehouse, Landlord shall forthwith repair have an election not to rebuild or recondition the sameLeased Premises, provided such repair can reasonably which election shall be made exercised by written notice thereof to Tenant, given within ninety sixty (9060) days from date of said loss. If Landlord exercises such election, this Lease shall cease and terminate, effective on the date of such loss, and Tenant shall pay the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30) days after such damage as accrued rent up to the amount date of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”). During any Landlord repair period, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayedloss, or Landlord, if the rent has been paid beyond such date, will refund to Tenant the proportionate part of any such rent prepaid, and thereupon this lease shall become null and void, with no further obligation on the part of either party hereto, even though the building may at a later date be rebuilt, restored or reconditioned. No damage or destruction is caused primarily by shall allow Tenant to surrender possession of the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay. If the restoration time is estimated to exceed ninety (90) days following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Leased Premises, subject to delays arising from Force Majeure Events (nor affect Tenant's liability for the payment of rent, except as hereinafter defined); and specifically provided in this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination noticeSublease. If Landlord fails is required or elects to give repair or rebuild the Restoration Notice within the thirty (30) day periodLeased Premises as herein provided, then Landlord Landlord's obligation hereunder shall be required limited to commence the that work specifically designated herein as being Landlord's responsibility. Tenant shall repair of the building promptly or replace its merchandise, trade fixtures, furnishings, and thereafter diligently complete the repairsequipment.
Appears in 1 contract
Partial Destruction. In the event of a partial destruction of the Building containing or the Premises during the Term of this Lease from any causeis damaged by fire, Landlord shall forthwith repair the sametornado or other casualty, provided but only to such repair extent that rebuilding or repairs can reasonably be made completed within ninety two hundred seventy (90270) days from after the date of such damage, or if the Restoration Notice damage is more serious but neither Landlord nor Tenant elects to terminate this Lease, Landlord will, following Landlord's receipt of insurance proceeds with respect to such damage in an amount sufficient (as hereinafter defined). in Landlord's discretion) to pay the costs of the following rebuilding or repair, commence to rebuild or repair the Building and/or the Premises and proceed with reasonable diligence to restore the Building and/or the Premises to substantially the same condition in which the same existed immediately prior to the happening of the casualty; provided, however, that (i) Landlord will not be required to rebuild, repair or replace any part of the furniture, equipment, fixtures and leasehold improvements which have been placed by Tenant, or on behalf of Tenant, on or within the Premises, nor any Alterations which Tenant is required to insure pursuant to Section 9.1.2 above, (ii) Landlord shall notify Tenant within thirty (30) days after not be required to rebuild or repair any damage to the extent that such damage as is not insured under the insurance policy or policies required to be carried by Landlord pursuant to Section 9.3 above, nor shall Landlord be required to spend more than the amount of time that a third party fire damage consultant insurance proceeds actually received, and (iii) in no event shall Landlord be required to rebuild or engineer chosen by Landlord reasonably estimates it will take to restore repair the Premises (or Building to other than substantially the “Restoration Notice”)same condition each was in immediately prior to the happening of the fire or other casualty. During Following any Landlord such rebuilding or repair periodby Landlord, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant rebuild and repair Tenant's insured Alterations, fixtures and improvements in the Premises. If Landlord will allow Tenant fails a fair diminution of rental during the time the Premises are unfit for occupancy. In the event any mortgagee under a deed of trust, security agreement or mortgage on the Building requires that the insurance proceeds be applied to remove its goodsthe debt secured thereby, wares Landlord will have no obligation to rebuild or equipment within a reasonable time is unable to by virtue of any such requirement or by virtue of any restrictions, prohibitions or requirements of law, and if Landlord elects not to rebuild or is unable to rebuild by virtue of any such requirement or by virtue of any restrictions, prohibitions or requirements of law, this Lease will terminate upon notice of such election given by Landlord to Tenant. Except as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agentsspecifically provided above, there shall will be no reduction in rent during such delay. If the restoration time is estimated to exceed ninety (90) days following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete the repairsrental.
Appears in 1 contract
Sources: Office Lease Agreement (Jamba, Inc.)
Partial Destruction. In the event of a partial destruction of the Building building containing the Premises during the Term term of this Lease from any cause, Landlord shall forthwith repair the same, provided such repair can reasonably be made within ninety one hundred (90180) days from the date happening of the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”)destruction under applicable laws and regulations. During any Landlord repair such period, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay. If In the restoration time is estimated to exceed ninety event that such repair cannot reasonably be made within one hundred (90180) days following from the date Landlord issues the Restoration Noticehappening of such destruction under applicable laws and regulations, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice by notifying Tenant in writing within sixty (60) days from the happening of such destruction of Landlord’s decision not to Landlord. Notwithstanding the above, the repair such building in which event this Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination noticedeemed terminated. If Landlord fails to give the Restoration Notice such written notice of Landlord’s decision not to repair such building within the thirty such sixty (3060) day perioddays, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete the repairs. In addition to the above, in the event that such building is partially destroyed and (i) the cost of repairing such building exceeds thirty-three and one-third percent (33-1/3%) of the replacement cost thereof, or (ii) the damage caused by the partial destruction of such building cannot reasonably be repaired within a period of one hundred eighty (180) days from the happening of such damage, Landlord may elect to terminate this Lease, whether or not such building is insured, by written notice to Tenant given within sixty (60) days from the happening of such destruction. If Landlord fails to give such written notice of Landlord’s decision not to repair such building within such sixty (60) days, then Landlord shall be required to repair such building within one hundred eighty (180) days from the happening of such destruction, if it can be reasonably repaired in such time, or as soon thereafter as reasonably practical if it cannot reasonably be repaired in such earlier period of time.
Appears in 1 contract
Sources: Lease Agreement (Elio Motors, Inc.)
Partial Destruction. In Subject to the event provisions of a partial destruction Section 2.4 above, if some portion of the Building containing Premises is destroyed by Casualty, but such event does not constitute a Total Destruction, Tenant will give written notice of such event to Landlord within ten (10) days of the Casualty Date and, within Sixty (60) days of receipt of such notice, Landlord will give written notice to Tenant of whether or not, in Landlord’s opinion, the Buildings and the Premises during can be restored to their pre-existing condition (exclusive of damage to Alterations made to the Term of this Lease from any causePremises by Tenant) (“Restored”) within one hundred and eighty (180) days after the Casualty Date (the “Restoration Period”). If, in Landlord’s opinion, the Premises can be Restored within the Restoration Period, Landlord shall forthwith repair will promptly and with commercially reasonable diligence but subject to Force Majeure, as defined in Section 21.4 below, and including a reasonable time for adjustment of insurance losses and recovery of insurance proceeds, Restore the samePremises, provided with such repair can reasonably modifications as may be made within ninety (90) days required by zoning and building codes and other Legal Requirements or by any Mortgagee, as defined in Section 14.1 and Fixed Rent will be abated from the Casualty Date to the date on which Landlord’s Restoration is substantially complete, in the same proportion that the floor area of the portion of the Buildings which is rendered unusable by such casualty for the conduct of Tenant’s business bears to the total floor area of the Buildings. Subject to the provisions of Section 21.4, if Landlord gives notice as aforesaid that the Premises can be Restored within the Restoration Notice (as hereinafter defined). Landlord shall notify Period, and such Restoration is not substantially complete within such Period, Tenant may, by written notice to Tenant within thirty (30) days after the expiration of the Restoration Period, elect to terminate this Lease effective thirty (30) days after Tenant’s notice unless Restoration has not been substantially completed prior to such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”). During any Landlord repair period, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delaydate. If the restoration time is estimated Buildings are partially destroyed and cannot, in Landlord’s opinion, be restored within the Restoration Period, Landlord may elect to exceed ninety terminate this Lease as of the Casualty Date by written notice to the other within sixty (9060) days following after the date Landlord issues the Restoration Notice, either Landlord or Casualty Date and Tenant may elect to terminate this Lease upon written notice to effective as of the other party given no later than Casualty Date within thirty (30) days after of receipt from Landlord of notice that the Premises cannot be restored within the Restoration Period or if no such notice of the anticipated time of Restoration is given by Landlord’s Restoration Notice, within ninety (90) days of the Casualty. If neither party elects to terminate under the terms of this Section 12.2, this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and this Lease shall remain continue in full force and effect, the Fixed Rent will be abated as hereinabove provided, and Landlord will proceed to Restore the Premises as expeditiously as is reasonably possible under the actual circumstances affecting such Restoration. If either Tenant’s rights to terminate as aforesaid will be Tenant’s sole remedy, whether or not Landlord is required to Restore hereunder. In no event will Landlord be required to expend any funds toward Restoration of the Building in excess of the net amount actually available to Landlord from insurance, nor will Landlord be liable for any loss or damage to Tenant for the termination or non-termination of this Lease, or for the failure to complete Restoration within the Restoration Period. Any other provision of the forgoing notwithstanding, Landlord will have no obligation to Restore the Premises if the Casualty Date is within two (i2) Landlord has not commenced years of the restoration Termination Date unless within thirty (30) days following of the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days)Casualty Date, Tenant shall have validly exercises any option to extend the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Term then held by Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete the repairs.
Appears in 1 contract
Sources: Net Lease (Colt Finance Corp.)
Partial Destruction. In the event of a partial destruction of the Building containing the Premises during the Term of this Lease from any cause, Landlord shall forthwith repair the same, provided such repair can reasonably be made within ninety one hundred eighty (90180) days from the date happening of the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”)destruction under applicable laws and regulations. During any Landlord repair such period, Tenant shall be entitled to a proportionate reduction of rent Rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent Rent during such delay. If In the restoration time is estimated to exceed ninety event that such repair cannot reasonably be made within one hundred eighty (90180) days following from the date happening of such destruction under applicable laws and regulations, Landlord issues the Restoration Notice, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice by notifying Tenant in writing within sixty (60) days from the happening of such destruction of Landlord’s decision not to Landlord. Notwithstanding repair the above, the Building in which event this Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination noticedeemed terminated. If Landlord fails to give such written notice of Landlord’s decision not to repair the Restoration Notice Building within the thirty such sixty (3060) day perioddays, then Landlord shall be required to commence the repair of the building Building promptly and thereafter diligently complete the repairs. In addition to the above, in the event that the Building is partially destroyed and (i) the cost of repairing the Building exceeds thirty-three and one-third percent (33-1/3%) of the replacement cost thereof, or (ii) the damage caused by the partial destruction of the Building cannot reasonably be repaired within a period of one hundred eighty (180) days from the happening of such damage, Landlord may elect to terminate this Lease, whether or not the Building is insured, by written notice to Tenant given within sixty (60) days from the happening of such destruction. If Landlord fails to give such written notice of Landlord’s decision not to repair the Building within such sixty (60) days, then Landlord shall be required to repair the Building within one hundred eighty (180) days from the happening of such destruction, if it can be reasonably repaired in such time, or as soon thereafter as reasonably practical if it cannot reasonably be repaired in such earlier period of time.
Appears in 1 contract
Sources: Lease Agreement (UWM Holdings Corp)
Partial Destruction. In If following damage or destruction to the event of a partial destruction of the Building containing the Leased Premises during the Term of by fire or other casualty, this Lease from any causeis not terminated pursuant to Section 7.1 hereof, Landlord shall forthwith proceed, to the extent of insurance proceeds actually received by Landlord after the exercise by any mortgage of the Property of an option to apply proceeds against Landlord's debt to such mortgagee, with reasonable diligence to rebuild or repair the samebuilding or other improvements to substantially the same conditions in which they existed prior to the damage. If the Leased Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, provided and the damage or destruction was not caused or contributed to by act or negligence of Tenant, its agents, employees, invitees or those for whom Tenant is responsible, the Base Rent payable under this Lease during the period for which the Leased Premises are untenantable shall be reduced to an amount determined by multiplying the Base Rent that would otherwise be payable but for this provision by the ratio that the portion of the Leased Premises not rendered untenantable bears to the total net rentable area of the Leased Premises prior to the casualty. Landlord's obligation to rebuild or restore under this Section shall be limited to restoring the Leased Premises to substantially the condition in which the same existed prior to the casualty, exclusive of improvements for which Tenant is responsible under the terms of the Leasehold Improvements Agreement, if any, described above in Section 6.1, and Tenant shall, promptly after the completion of such repair can reasonably be made work by Landlord, proceed with reasonable diligence and at Tenant's sole cost and expense to restore those improvements for which Tenant is responsible under the terms of such Leasehold Improvements Agreement to substantially the condition in which the same existed prior to the casualty and to otherwise make the Leased Premises suitable for Tenant's use. If Landlord fails to substantially complete the necessary repairs or rebuilding within ninety one hundred and eighty (90180) working days from the date of Landlord's receipt of written notification by Tenant of the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”). During any Landlord repair perioddestruction, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove may at its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay. If the restoration time is estimated to exceed ninety (90) days following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to option terminate this Lease upon by delivering written notice of termination to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, whereupon all rights and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and obligations under this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect cease to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete the repairsexist.
Appears in 1 contract
Sources: Office Lease (FWT Inc)
Partial Destruction. In the event of a partial destruction of (a) If the Building containing should be damaged to the Premises during extent that, in Landlord’s reasonable judgment, repair would not be economically feasible; or that rebuilding or repairs cannot, in Landlord’s estimation, be completed within two hundred ten (210) days after the Term date of this Lease from such damage; or if the insurance proceeds remaining after any causerequired payments to Mortgagees are insufficient to repair such damage or destruction, Landlord shall forthwith repair have the sameright, provided at Landlord’s option, to terminate this Lease by giving Tenant written notice of such repair can reasonably be made termination within ninety sixty (9060) days from after the date of such casualty, and the Restoration Notice Rent shall be apportioned and paid to the date on which possession is relinquished or the date of such damage, whichever last occurs, and Tenant shall promptly vacate the Leased Premises according to such notice of termination.
(as hereinafter defined). b) If the Building should be damaged by any peril covered by the insurance to be provided by Landlord shall notify Tenant under Section 8.05 above, but only to such extent that rebuilding or repairs are, in Landlord’s estimation, economically feasible and can be completed within thirty two hundred ten (30210) days after the date of such damage as and the proceeds of such insurance, after deducting any required payments to Mortgagees, are sufficient for such rebuilding or repairs, then, unless this Lease is terminated by either Landlord or Tenant pursuant to an express termination right under this Article 9, this Lease shall not terminate, and Landlord shall at its sole cost and expense thereupon proceed with reasonable diligence to rebuild and repair the amount Building to substantially the condition in which it existed prior to such damage, except that Landlord shall not be required to rebuild, repair or replace any of time that a third party fire damage consultant the leasehold improvements, partitions, fixtures, additions and other improvements which may have been placed in, on or engineer chosen by Landlord reasonably estimates it will take to restore about the Premises (the “Restoration Notice”). During any Landlord repair period, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Leased Premises. If Tenant fails to remove its goodsdoes not occupy the Leased Premises during the period of such repairs, wares or equipment within a reasonable time and as a result then during such period, Landlord shall regularly communicate with Tenant regarding the repair or restoration is delayed, or if progress of such damage or destruction is caused primarily by repairs so that Tenant can reasonably plan for the negligence or willful act recommencement of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay’s occupancy of the Leased Premises. If the restoration time is estimated to exceed ninety (90) days Leased Premises are untenantable in whole or in part following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the abovedamage, the Lease shall automatically be reinstated if Rent payable hereunder during the restoration is completed and period in which the Leased Premises are delivered to Tenant within ten (10) days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord untenantable shall be required reduced to commence the repair such extent as may be fair and reasonable under all of the building promptly and thereafter diligently complete the repairscircumstances.
Appears in 1 contract
Sources: Lease (Purple Innovation, Inc.)
Partial Destruction. In the event of a partial destruction of the Building building containing the Premises during the Term term of this Lease from any cause, Landlord shall forthwith repair the same, provided such repair can reasonably be made within ninety (90) days from the date happening of the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”)destruction under applicable laws and regulations. During any Landlord repair such period, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay. If In the restoration time is estimated to exceed event that such repair cannot reasonably be made within ninety (90) days following from the date happening of such destruction under applicable laws and regulations, Landlord issues the Restoration Notice, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice by notifying Tenant in writing within sixty (60) days from the happening of such destruction of Landlord’s decision not to Landlord. Notwithstanding the above, the repair such building in which event this Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination noticedeemed terminated. If Landlord fails to give the Restoration Notice such written notice of Landlord’s decision not to repair such building within the thirty such sixty (3060) day perioddays, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete the repairs. In addition to the above, in the event that such building is partially destroyed and (i) the cost of repairing such building exceeds thirty-three and one-third percent (33-1/3%) of the replacement cost thereof, or (ii) the damage caused by the partial destruction of such building cannot reasonably be repaired within a period of ninety (90) days from the happening of such damage, Landlord may elect to terminate this Lease, whether or not such building is insured, by written notice to Tenant given within sixty (60) days from the happening of such destruction. If Landlord fails to give such written notice of Landlord’s decision not to repair such building within such sixty (60) days, then Landlord shall be required to repair such building within ninety (90) days from the happening of such destruction, if it can be reasonably repaired in such time, or as soon thereafter as reasonably practical if it cannot reasonably be repaired in such earlier period of time.
Appears in 1 contract
Sources: Lease Agreement (Impreso Inc)
Partial Destruction. In If following damage or destruction to the event Premises by fire or other casualty, this Lease is not terminated pursuant to Section 7.1 hereof, this Lease shall not terminate, and Landlord shall proceed, to the extent of a partial destruction insurance proceeds actually received by Landlord after the exercise by any mortgagee of the Property of an option to apply proceeds against Landlord’s debt to such mortgagee, with reasonable diligence to rebuild or repair the Building containing or other improvements to substantially the same conditions in which they existed as of the Commencement Date, normal wear and tear excepted. If the Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, and the damage or destruction was not caused or contributed to by act or negligence of Tenant, its agents, employees, invitees or those for whom Tenant is responsible, the Base Rent payable under this Lease during the Term period for which the Premises are untenantable until the Premises are returned to the condition that existed as of the Commencement Date shall be reduced to an amount determined by multiplying the Base Rent that would otherwise be payable but for this Lease from any causeprovision by the ratio that the portion of the Premises not rendered untenantable bears to the total net rentable area of the Premises prior to the casualty. Landlord’s obligation to rebuild or restore under this Section shall be limited to restoring the Premises to substantially the condition in which the same existed prior to the casualty including the Improvements as defined in the Addendum, exclusive of improvements constructed by Tenant , and Tenant shall, promptly after the completion of such work by Landlord, proceed with reasonable diligence and at Tenant’s sole cost and expense to restore those improvements for which Tenant is responsible to substantially the condition in which the same existed prior to the casualty and to otherwise make the Premises suitable for Tenant’s use. If Landlord shall forthwith repair fails to substantially complete the same, provided such repair can reasonably be made necessary repairs or rebuilding within ninety one hundred and eighty (90180) working days from the date of Landlord’s receipt of written notification by Tenant of the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”). During any Landlord repair perioddestruction, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove may at its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay. If the restoration time is estimated to exceed ninety (90) days following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to own option terminate this Lease upon by delivering written notice of termination to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, whereupon all rights and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and obligations under this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect cease to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete the repairsexist.
Appears in 1 contract
Sources: Lease Agreement (Liposcience Inc)
Partial Destruction. In the event of a partial destruction of the Building containing If the Premises during are rendered partially untenantable by fire or other insured casualty, and if the Term of this Lease from any cause, Landlord shall forthwith repair the same, provided such repair can reasonably be made damage is repairable within ninety (90) days from the date of the Restoration Notice occurrence, (as hereinafter definedwith the repair work and preparations therefore to be accomplished during regular working hours on regular work days), Landlord shall or shall cause Prime Landlord to repair the Premises with due diligence, provided there are sufficient insurance proceeds available to repair the damage. Landlord shall notify Tenant or shall cause Prime Landlord also to repair the damage if there are sufficient insurance proceeds available to repair the damage and the damage is repairable within thirty one hundred eighty (30180) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”). During any Landlord repair period, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay. If the restoration time is estimated to exceed ninety (90) days following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and this Lease shall remain in full force and effect. If either (i) the Gaming Authorities agree to issue a new nonrestricted gaming license to Tenant for continuation of this Lease after the completion of the restoration; (ii) the Gaming Authorities agree to issue a new nonrestricted gaming license to Landlord has not commenced if Landlord had such a license prior to the restoration within damage or issue a new finding of suitability to Landlord if Landlord had such a finding of suitability prior to the damage; and (iii) the Gaming Authorities accept Prime Landlord as the owner of the Casino. Notwithstanding the other provisions of this Subsection 8.1(a), if (i) thirty percent (30%) days following or more of the date useable area of Landlord’s Restoration Noticethe Buildings is destroyed or damaged, regardless of whether the Premises are damaged, or (ii) the restoration takes more than ninety thirty percent (9030%) days following Landlord’s Restoration Noticeof the useable area of the Premises is damaged or destroyed, plus any period or (iii) the Lease Term remaining after the date of delay which the damage or destruction is caused by Force Majeure Events less than twelve (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (9012) days)months, Tenant then Landlord shall have the right to terminate this Lease upon prior written as of the date of such damage or destruction by giving notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day perioddays thereafter of its election to so terminate this Lease. If Landlord elects to terminate this Lease pursuant to this Subsection 8.1(a), then at termination, Landlord shall be required pay Tenant the Lease Termination Fee provided that Tenant has delivered to commence Landlord any remaining Casino Personal Property and Casino Personal Property Additions and all insurance proceeds relating to the repair damaged or destroyed Casino Personal Property, Casino Personal Property Additions, and Alterations to the Premises. Tenant shall deliver such items to Landlord free and clear of liens, encumbrances, and defects of title, except any such matters arising through Prime Landlord for the building promptly benefit of its Mortgagee and thereafter diligently complete except for Casino Personal Property Additions Capital Leases then outstanding. Notwithstanding the repairsforegoing, so long as Tenant is not in default under this Lease, Landlord agrees not to terminate this Lease if Landlord rebuilds following partial damage to the Premises.
Appears in 1 contract
Partial Destruction. In the event of a partial destruction of the Building containing the Premises during the Term of this Lease from any cause, Landlord shall forthwith repair the same, provided so long as such repair can reasonably be made within ninety one hundred eighty (90) days from the date of the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30180) days after the happening of such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”)destruction under applicable laws and regulations. During any Landlord repair such period, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, Tenant or its employees, invitees or agentsany Tenant Representative, there shall be no reduction in rent during such delay. If In the restoration time is estimated to exceed ninety event that such repair cannot reasonably be made within one hundred eighty (90) days following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given no later than thirty (30180) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by happening of such destruction under applicable laws and regulations, Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to by notifying Tenant in writing within ten sixty (1060) days after Tenant’s termination noticethe happening of such destruction, in which event this Lease shall be deemed terminated. If Landlord fails to give Tenant written notice of Landlord’s decision not to repair such damage within sixty (60) days after the Restoration Notice within the thirty (30) day periodhappening of such destruction, then Landlord shall be required to commence the repair of the building Building promptly and thereafter diligently complete the repairs. In addition to the above, in the event that the Building is partially destroyed and (A) the cost of repairing the Building exceeds thirty‑three and one‑third percent (331/3%) of the replacement cost thereof, or (B) the damage caused by the partial destruction of the Building cannot reasonably be repaired within a period of one hundred eighty (180) the happening of such damage, Landlord may elect to terminate this Lease, whether or not the Building is insured, by written notice to Tenant given within sixty (60) days after the happening of such destruction. If Landlord fails to give such written notice of Landlord’s decision not to repair the Building within such sixty (60) days, then Landlord shall be required to repair the Building within one hundred eighty (180) days after the happening of such destruction, if it can be reasonably repaired in such time, or as soon thereafter as reasonably practical if it cannot reasonably be repaired in such earlier period of time.
Appears in 1 contract
Sources: Lease Agreement (Inogen Inc)
Partial Destruction. In If the event of a partial following damage or destruction of to the Building containing the Leased Premises during the Term of by fire or other casualty, this Lease from any causeis not terminated pursuant to section 7.1 hereof, Landlord shall forthwith proceed, to the extent of Insurance proceeds actually received by Landlord after the exercise by any mortgagee of the Property of an option to apply proceeds against Landlord's debt to such mortgagee, with reasonable diligence to rebuild or repair the sameBuilding or other improvements to substantially the same conditions in which they existed prior to the damage. If the Leased Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, provided and the damage or destruction was not caused or contributed to by act or negligence of Tenant, its agents, employees, invitees or those for whom Tenant is responsible, the Base Rent payable under this Lease during the period for which the Leased Premises are untenantable shall be reduced to an amount determined by multiplying the Base Rent that would otherwise by payable but for this provision by the ratio that the portion of the Leased Premises not rendered untenantable bears to the total net rentable area of the Leased Premises prior to the casualty. Landlord's obligation to rebuild or restore under this Section shall be limited to restoring the Leased Premises to substantially the condition in which the same existed prior to the casualty, exclusive of improvements for which Tenant is responsible under the terms of the Leasehold Improvements Agreement, if any, described above in Section 6.1, and Tenant shall, promptly after the completion of such repair can reasonably be made work by Landlord, proceed with reasonable diligence and at Tenant's sole cost and expense to restore those improvements for which Tenant is responsible under the terms of such Leasehold Improvements Agreement to substantially the condition in which the same existed prior to the casualty and to otherwise make the Leased Premises suitable for Tenant's use. If Landlord fails to substantially complete the necessary repairs or rebuilding within ninety one hundred and eighty (90180) work days from the date of Landlord's receipt of written notification by tenant of the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”). During any Landlord repair perioddestruction, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove may at its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay. If the restoration time is estimated to exceed ninety (90) days following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to option terminate this Lease upon by delivering written notice of termination to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, whereupon all rights and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and obligations under this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect cease to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete the repairsexist.
Appears in 1 contract
Partial Destruction. In the event the Premises becomes partially destroyed by fire or other casualty to the extent that the cost of a partial destruction restoration or repair is less than one-third (1/3) of the Building containing total reasonable costs of replacement of all improvements included in the Premises during the Term of this Lease from any cause(as reasonably estimated by Landlord), and premises cannot be repaired within 120 days, then either tenant or Landlord shall forthwith repair have the same, provided such repair can reasonably option (which option shall be made exercised in writing within ninety ten (9010) days from of the date of the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30loss) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”). During any Landlord repair period, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay. If the restoration time is estimated to exceed ninety (90) days following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other and all further obligations of either party given no later than thirty hereunder or, within forty-five (3045) days after of such loss or damage, to commence repairs of the damage and restore that part of the Premises owned by the Landlord’s Restoration Notice. If neither either party elects to terminate this Lease Lease, all obligations hereunder, including rent, shall cease as of the date of partial destruction, but shall not affect obligations prior to partial destruction. If Landlord elects to repair, the rental hereunder shall abat▇ ▇▇ hereinafter provided until such time as that part of the Premises are restored to substantially their previous condition. If the damage or if destruction of such improvements on said Premises is of such nature that the third party fire damage consultant same can, allowing for all reasonable contingencies, be repaired or engineer chosen by Landlord reasonably estimates that restoration will take ninety restored to substantially its former condition within one hundred twenty (90120) days after such loss or lessdamage, then Landlord shall promptlypromptly proceed to have said repairs made and said Premises so restored at its own expense, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and this Lease shall remain in full force and effecteffect subject only to a proportionate reduction of the Minimum Rent during the period prior to such restoration based upon the percentage of that portion of the original Premises damaged or destroyed (as reasonably determined by the Landlord). If either (i) Landlord has Tenant shall be responsible, at its own expense to do such work as may be necessary to place that portion of the Premises not commenced so damaged or destroyed in a condition to permit Tenant to continue to carry on the restoration within thirty (30) days following approved use as of the date of Landlord’s Restoration Notice, damage or (ii) destruction and Tenant shall continue that use to the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus extent possible. Tenant shall not be entitled to any period additional abatement or deduction of delay which is rent from any business interruption caused by Force Majeure Events (such damage or such longer time as destruction or by the parties shall establish in writing with respect necessity for Tenant to restoration which is expected to take longer than ninety (90) days), Tenant shall have do work on the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and portion of the Premises are delivered to Tenant within ten (10) days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete the repairsnot damaged.
Appears in 1 contract
Sources: Office Lease Agreement (Syntel Inc)
Partial Destruction. In If the event Leased Premises or the building in which the Leased Premises are located should be damaged by fire or other casualty, such that:
(i) in the sole judgment of a partial destruction Landlord, rebuilding or repairs cannot be reasonably expected to be completed within sixty (60) working days from the date of written notification by Tenant to Landlord of the Building containing happening of the damage, or
(ii) the said damages cannot be repaired by the expenditure of forty percent (40%) of the full insurable value of the building in which the Leased Premises are located immediately prior to the casualty but the damages are not such as to amount to a total destruction, as described herein in paragraph 17(a); then and in that event, this Lease shall not terminate and Landlord shall proceed with reasonable diligence to rebuild or repair the building and Leased Premises to substantially the condition in which they existed prior to such damage. In such event, if such damage was not caused or contributed to by act of negligence of Tenant, its agents, employees, invitees or those for whom Tenant is responsible, rent payable hereunder during the Term period in which the Leased Premises are untenantable shall be adjusted to such extent as may be fair and reasonable under all circumstances. If these Leased Premises or the building in which the Leased Premises are located should be damaged by fire or other casualty such that in the sole judgment of this Lease Landlord, rebuilding, or repair can be reasonably expected to be completed within sixty (60) working days from any causethe date of written notification by Tenant to Landlord of the happening of the damage and if the Leased Premises or the building in which the Leased Premises are located are not so damaged as to require a reasonably estimated expenditure of more than ten percent (10%) of the full insurable value of the building in which the Leased Premises are located immediately prior to the casualty, then rental hereunder shall not ▇▇▇▇▇, but Landlord shall forthwith proceed to repair and rebuild than buildings and Leased Premises, and use its best efforts to repair the same, provided such repair can reasonably be made same within ninety sixty (9060) days from the date of the Restoration Notice (as hereinafter defined). Landlord shall notify Tenant within thirty (30) days after such damage as to the amount of time that a third party fire damage consultant or engineer chosen by Landlord reasonably estimates it will take to restore the Premises (the “Restoration Notice”). During any Landlord repair period, Tenant shall be entitled to a proportionate reduction of rent to the extent such repairs unreasonably interfere with the business carried on written notification by Tenant in the Premises. If Tenant fails to remove its goods, wares or equipment within a reasonable time and as a result the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay. If the restoration time is estimated to exceed ninety (90) days following the date Landlord issues the Restoration Notice, either Landlord or Tenant may elect to terminate this Lease upon written notice to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or less, then Landlord shall promptly, and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and this Lease shall remain in full force and effect. If either (i) Landlord has not commenced the restoration within thirty (30) days following the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period of delay which is caused by Force Majeure Events (or such longer time as the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete happening of the repairsdamage.
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Partial Destruction. In If the event of a partial destruction of the Building containing the Premises during the Term of this Lease from any causeleased premises should be partially damaged by fire or other casualty, Landlord shall forthwith repair the same, provided such repair and rebuilding or repairs can reasonably be made completed within ninety (90) 60 days from the date of written notification by Lessee to Lessor of the Restoration Notice (as hereinafter defined)destruction, this Lease shall not terminate. Landlord If the leased premises should be partially damaged by fire or other casualty, and rebuilding or repairs can reasonably be completed within less than 150 but more than 60 days from the date of written notification by Lessee to Lessor of the destruction, this Lease shall notify Tenant not terminate unless the damage or destruction shall occur during the fourth through tenth years of this Lease, the 14th or 15th years of this Lease or the 19th or 20th years of this Lease, in which event Lessor may terminate this Lease by giving written notice to Lessee within thirty (30) days after such damage fire or casualty of ▇▇▇▇▇▇'s election to terminate the Lease. If Lessor shall give such a notice of termination, Lessee shall have the same right to prevent a termination of the Lease as is provided above in Section 7.01. If the Lease shall not be terminated pursuant to Section 7.01 or 7.02, Lessor shall at its sole risk and expense proceed with reasonable diligence to rebuild or repair the Building or other Improvements to substantially the same condition in which they existed prior to the amount of time that a third party fire damage consultant damage. If the leased premises are to be rebuilt or engineer chosen by Landlord reasonably estimates it will take to restore repaired and are untenantable in whole or in part following the Premises (damage, the “Restoration Notice”). During any Landlord repair period, Tenant rent payable under this Lease during the period for which the leased premises are untenantable shall be entitled adjusted to a proportionate reduction of rent to such an extent as may be fair and reasonable under the extent such repairs unreasonably interfere with circumstances. In the business carried on by Tenant in the Premises. If Tenant event that Lessor fails to remove its goods, wares complete the necessary repairs or equipment rebuilding within a reasonable period of time and as a result under the repair or restoration is delayed, or if such damage or destruction is caused primarily by the negligence or willful act of Tenant, or its employees, invitees or agents, there shall be no reduction in rent during such delay. If the restoration time is estimated to exceed ninety (90) days following circumstances after the date Landlord issues of written notification by Lessee to Lessor of the Restoration Noticedestruction, either Landlord or Tenant Lessee may elect to at its option terminate this Lease upon by delivering written notice of termination to the other party given no later than thirty (30) days after Landlord’s Restoration Notice. If neither party elects to terminate this Lease or if the third party fire damage consultant or engineer chosen by Landlord reasonably estimates that restoration will take ninety (90) days or lessLessor, then Landlord shall promptly, whereupon all rights and with all commercially reasonable diligence, restore the Premises, subject to delays arising from Force Majeure Events (as hereinafter defined); and obligations under this Lease shall remain in full force and effectcease to exist. If either (i) Landlord has not commenced this Lease shall be terminated pursuant to Section 7.01 or 7.02, the restoration within thirty (30) days following rent shall be abated for the unexpired portion of the Lease, effective as of the date of Landlord’s Restoration Notice, or (ii) the restoration takes more than ninety (90) days following Landlord’s Restoration Notice, plus any period written notification of delay which termination is caused given by Force Majeure Events (or such longer time as one party to the parties shall establish in writing with respect to restoration which is expected to take longer than ninety (90) days), Tenant shall have the right to terminate this Lease upon prior written notice to Landlord. Notwithstanding the above, the Lease shall automatically be reinstated if the restoration is completed and the Premises are delivered to Tenant within ten (10) days after Tenant’s termination notice. If Landlord fails to give the Restoration Notice within the thirty (30) day period, then Landlord shall be required to commence the repair of the building promptly and thereafter diligently complete the repairsother.
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Sources: Office Lease Agreement (Alliance Data Systems Corp)