Common use of UNTENANTABILITY Clause in Contracts

UNTENANTABILITY. In the event the Premises, Building or Project are damaged by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenant.

Appears in 3 contracts

Sources: Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc)

UNTENANTABILITY. In If the event premises or the Premises, Building or Project are damaged made unfit for occupancy by fire or other insured casualty and casualty, acts of God, or other cause, Lessor may elect (a) to terminate this Lease as of the insurance proceeds have been date when the premises or the Building are so made available therefore unfit for occupancy, by written notice to Lessee within ninety (90) days after that date, or (b) to repair, restore, or rehabilitate the holder premises or holders of any mortgages or deeds of trust, the damage shall be repaired by and Building at the Lessor's expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty eighty (120180) days after Lessor is enabled to take possession of all damaged areas and to undertake reconstruction or repairs; and if Lessor elects so to repair, restore, or rehabilitate the occurrence of such damage without premises or the payment of overtime or other premiums. Until such repairs are completedBuilding, the this Lease shall not terminate, but rent shall be abated in proportion on a per-diem basis to the part of extent and for the Premises which is unusable by Tenant in period that the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effectpremises are unfit for occupancy. In the case of repairs, which in Landlord’s opinion canevent Lessor shall proceed under (b) above and shall not be made substantially complete the work within said one hundred twenty eighty (120180) days Landlord shall notify Tenant within thirty day period (30excluding from said period loss of time resulting from delays beyond the reasonable control of Lessor) days either Lessor or Lessee may then terminate this Lease, as of the date of occurrence last day of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty eighty (120180) days of notice, then either party mayday period, by written notice to the otherother not later than ten (10) days after the expiration of said one hundred eighty (180) day period, cancel computed as herein provided, and Lessor shall have no liability to Lessee for failure to restore, repair, or rehabilitate the premises. In the event of termination of this Lease as of pursuant to this Paragraph, rent shall be apportioned on a per-diem basis to and including the effective date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such noticetermination. Except as provided in this SectionParagraph, there neither party hereto shall be no abatement of rent and no liability of Landlord have the right to terminate this Lease by reason of any injury damage to, damage or interference with Tenant’s business destruction of, the premises or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for TenantBuilding.

Appears in 3 contracts

Sources: Lease Agreement (Kids Stuff Inc), Lease Agreement (Kids Stuff Inc), Lease Agreement (Havana Group Inc)

UNTENANTABILITY. In the event If all or substantially all of the Premises, Building or Project in excess of thirty (30%) percent of the Building, are damaged made untenantable by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) dayscasualty, Landlord may may, at its option make these within a reasonable time andoption, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel elect: A. To terminate this Lease as of the date of the occurrence of such damage and fire or casualty by notice to Tenant must vacate within sixty (60) days after that date; or B. Proceed with all due diligence to repair, restore or rehabilitate the Building or the Premises within (excluding leasehold improvements installed or paid for by Tenant) at Landlord's expense, in which latter event this Lease shall not terminate. In the event the Lease is not terminated pursuant to these provisions, rent shall ▇▇▇▇▇ only with respect to the portion of the Premises rendered untenantable on a per diem basis during the period of untenantability. In the event of the termination of this Lease pursuant to this section, rent shall be apportioned on a per diem basis and paid to the date of the fire or other casualty. If less than thirty (30%) percent of the Building or less than all or substantially all of the Premises are made untenantable as aforesaid during the last year of the Term hereof, Landlord shall have the right to terminate this Lease as of the date of the fire or other casualty by giving written notice thereof to Tenant within sixty (60) days after the date of such notice. Except as provided fire or other casualty, in this Section, there which event the rent shall be no abatement apportioned on per diem basis and paid to the date of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantcasualty.

Appears in 2 contracts

Sources: Office Lease (Biotel Inc.), Office Lease (Biotel Inc.)

UNTENANTABILITY. (a) In the event the Premises, Building or Project are damaged by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole 's reasonable opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until From the date such damages occur until such repairs are completed, the rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s 's sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s 's opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs repairs, and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s 's business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s 's furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenant. (b) In the event that the Premises become untenantible through no fault or cause of Tenant, or Tenant's employees, agents and invitees, for a continuous period in excess of five (5) business days, Tenant's obligation to pay rent under this Agreement shall be abated from and after such five (5) business day period until such time as the Premises become tenantible.

Appears in 2 contracts

Sources: Office Lease (Elastic Networks Inc), Office Lease (Elastic Networks Inc)

UNTENANTABILITY. In If the event the Premises, Building Premises are made untenantable in whole or Project are damaged in part by fire or other insured casualty and casualty, the insurance proceeds have been Rent, until repairs shall be made available therefore or the Lease terminated as hereinafter provided, shall be apportioned on a per diem basis according to the part of the Premises which is usable by the holder Tenant, if, but only if, such fire or holders other casualty was not caused by the fault or negligence of any mortgages the Tenant, its contractors, agents, or deeds of trust, the employees. If such damage shall be repaired so extensive that the Premises cannot be restored to tenantability by and at the expense Landlord within a period of Landlord sixty (60) days, either party shall have the right to cancel this Lease by notice to the extent other given at any time within sixty (60) days after the date of such insurance proceeds available thereforedamage; except that if such fire or casualty resulted from the Tenant's fault or negligence, provided the Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the opinion of the Landlord the Building should be restored in such repairs cana way as to alter the Premises materially, in Landlord’s sole opinionthe Landlord may cancel this Lease by notice to the Tenant given at any time within sixty (60) days after the date of such damage. If more than twenty-five percent (25%) of the Building is made untenantable by fire or other casualty (regardless of whether the Premises are untenantable), be made Landlord may terminate this Lease by written notice to Tenant within one hundred twenty (120) days after the occurrence date of such damage without casualty. In the payment event of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion giving effective notice pursuant to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenantthis Section, this Lease and the term and the estate hereby granted shall continue in effectexpire on the date fifteen (15) days after the giving of such notice as fully and completely as if such date were the date hereinafter set for the expiration of the term of this Lease. In the case of repairsevent neither Landlord nor Tenant cancels the Lease, which in Landlord’s opinion cannot be made within one hundred twenty sixty (12060) days and Landlord shall notify Tenant within thirty (30) days of wishes to effect such restoration, the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is givenshall, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason promptly after adjustment of any injury torelevant insurance claims, damage or interference with Tenant’s business or property arising from any commence such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantrestoration at Landlord's expense.

Appears in 2 contracts

Sources: Lease (Integrated Information Systems Inc), Lease (Integrated Information Systems Inc)

UNTENANTABILITY. In If the event Demised Premises or the Premisesbuilding in which they are located are made unfit for occupancy by the elements, Building or Project are damaged by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustcause, the damage shall be repaired Landlord may elect to terminate this Lease as of the time when the premises or building are made unfit for occupancy, by and notice to the Tenant within forty five (45) days after that occurrence. In the alternative, Landlord may elect to repair the building or the premises at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made expense within one hundred twenty ninety (12090) days after the occurrence Landlord is enabled to take possession of such damage without the payment of overtime damaged premises and undertake reconstruction or other premiums. Until such repairs are completedrepairs, the in which event this Lease shall not terminate, but rent shall be abated in proportion on a per diem basis, prorata, for the portion of the Demised Premises rendered unfit for occupancy. If the Landlord elects to so repair, restore or rehabilitate the building or the premises and does not substantially compete the work within said ninety (90) days period, excluding from said period loss of time caused by the delay beyond the control of the Landlord, then either party may terminate this Lease as of the time when the premises or the building were made unfit for occupancy, by notice to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion canother party not be made within one hundred twenty (120) days Landlord shall notify Tenant within later than thirty (30) days after expiration of said ninety (90) day period, as so computed. In the event of termination of the Lease pursuant to this section, rent, including any escalation thereof, shall be apportioned on a per diem basis and shall be paid to the date of occurrence termination. Anything herein stated to the contrary notwithstanding, in the event that the building in which the Demised Premises are located shall be damaged in any way whatsoever, and the estimated cost of repairing such damage shall exceed one-half (1/2) of the value of the building at the time of the happening of such damage as by reason of such damage, the Landlord may decide to whether or not Landlord elects to make demolish said building and rebuild the same and, in such repairs and if no such repairs and if no such notice is givenevent, the Landlord shall be deemed have the right to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, terminate this Lease by written notice giving to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days days’ written notice of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenanttermination.

Appears in 2 contracts

Sources: Lease Agreement (Gas Natural Inc.), Lease Agreement (Energy West Inc)

UNTENANTABILITY. In If the event Demised Premises or the Premisesbuilding in which they are located are made unfit for occupancy by the elements, Building or Project are damaged by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustcause, the damage shall be repaired Landlord may elect to terminate this Lease as of the time when the premises or building are made unfit for occupancy, by and notice to the Tenant within forty five (45) days after that occurrence. In the alternative, Landlord may elect to repair the building or the premises at the Landlord's expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty ninety (12090) days after the occurrence Landlord is enabled to take possession of such damage without the payment of overtime damaged premises and undertake reconstruction or other premiums. Until such repairs are completedrepairs, the in which event this Lease shall not terminate, but rent shall be abated in proportion on a per diem basis, prorata, for the portion of the Demised Premises rendered unfit for occupancy. If the Landlord elects to so repair, restore or rehabilitate the building or the premises and does not substantially compete the work within said ninety (90) days period, excluding from said period loss of time caused by the delay beyond the control of the Landlord, then either party may terminate this Lease as of the time when the premises or the building were made unfit for occupancy, by notice to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion canother party not be made within one hundred twenty (120) days Landlord shall notify Tenant within later than thirty (30) days after expiration of said ninety (90) day period, as so computed. In the event of termination of the Lease pursuant to this section, rent, including any escalation thereof, shall be apportioned on a per diem basis and shall be paid to the date of occurrence termination. Anything herein stated to the contrary notwithstanding, in the event that the building in which the Demised Premises are located shall be damaged in any way whatsoever, and the estimated cost of repairing such damage shall exceed one-half (1/2) of the value of the building at the time of the happening of such damage as by reason of such damage, the Landlord may decide to whether or not Landlord elects to make demolish said building and rebuild the same and, in such repairs and if no such repairs and if no such notice is givenevent, the Landlord shall be deemed have the right to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, terminate this Lease by written notice giving to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days days' written notice of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenanttermination.

Appears in 1 contract

Sources: Lease Agreement (John D. Oil & Gas Co)

UNTENANTABILITY. In If the event the Premises, Building Premises are made untenantable in whole or Project are damaged in part by fire or other insured casualty and casualty, the insurance proceeds have been Rent, until repairs shall be made available therefore or the Lease terminated as hereinafter provided, shall be apportioned on a per diem basis according to the part of the Premises which is usable by the holder Tenant, if, but only if, such fire or holders other casualty was not caused by the fault or negligence of any mortgages the Tenant, its contractors, agents, or deeds of trust, the employees. If such damage shall be repaired so extensive that the Premises cannot be restored to tenantability by and at the expense Landlord within a period of Landlord one hundred eighty (180) days, either party shall have the right to cancel this Lease by notice to the extent other given at any time within sixty (60) days after the date of such insurance proceeds available thereforedamage; except that if such fire or casualty resulted from the Tenants fault or negligence, provided the Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the opinion of the Landlord the Building should be restored in such repairs cana way as to alter the Premises materially, in Landlord’s sole opinionthe Landlord may cancel this Lease by notice to the Tenant given at any time within sixty (60) days after the date of such damage. If more than twenty-five percent (25%) of the Building is made untenantable by fire or other casualty (regardless of whether the Premises are untenantable), be made Landlord may terminate this Lease by written notice to Tenant within one hundred twenty (120) days after the occurrence date of such damage without casualty. In the payment event of overtime or other premiums. Until giving effective notice pursuant to this Section, this Lease and the term and the estate hereby granted shall expire on the date fifteen (15) days after the giving of such repairs are completed, notice as fully and completely as if such date were the rent shall be abated in proportion to date hereinafter set for the part expiration of the Premises which is unusable by term of this Lease. In the even neither Landlord not Tenant cancels the Lease, or if in the conduct of its business. If repairs cannot, in Landlord’s sole 's opinion the Premises can be made restored to tenantability within one hundred twenty eighty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120180) days and Landlord shall notify Tenant within thirty (30) days of wishes to effect such restoration, the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenant.shall,

Appears in 1 contract

Sources: Lease (Business Resource Group)

UNTENANTABILITY. In If the event Premises or the Premises, Building or Project are any substantial part of either is damaged or destroyed by fire or other insured casualty, cause or condition whatsoever, such that the damage or destruction cannot be repaired within one hundred fifty (150) days, Landlord may, by written notice to Tenant given within thirty (30) days after such damage, terminate this Lease as to all the Premises covered by this Lease. If the Premises are damaged or the access or use thereof is materially impaired by the damage, then Landlord's termination shall be effective as of the date of such damage; otherwise said termination shall be effective thirty (30) days after receipt of such notice by Tenant. Landlord agrees to give notice (the "Repair Notice") to Tenant within twenty (20) days after Tenant notifies Landlord of any such fire or other casualty and requests a Repair Notice; the insurance proceeds have been made available therefore Repair Notice will state the time Landlord requires to repair and restore the Premises and/or Building and will contain either a promise by Landlord to complete the holder repairs and restoration within such time (subject to force majeure), or holders a statement by Landlord that it elects to terminate by reason of any mortgages or deeds of trust, the damage shall be repaired not being repairable within one hundred fifty (150) days. If the Repair Notice is not given by and at Landlord within the expense of time required or does not contain a promise by Landlord to the extent of such insurance proceeds available therefore, provided complete such repairs canand restoration within the Required Time (as defined below), in Landlord’s sole opinion, be made Tenant may terminate this Lease by written notice to Landlord provided that Tenant gives such notice within thirty (30)days after expiration of the twenty (20) day period specified above. The "Required Time" means one hundred twenty (120) days after the occurrence of such with respect to any damage without the payment of overtime that renders thirty percent (30%) or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part less of the Premises which is unusable by Tenant unstable for the purposes contemplated herein and one hundred fifty (150) days for any other damage. If Landlord fails to complete repairs and restoration within the time stated in the conduct Repair Notice to Tenant other than as a result of its businessforce majeure, Tenant shall be entitled to terminate this Lease by written notice given to Landlord before the applicable repairs and restoration are complete; provided, however, that before terminating this Lease pursuant to this sentence, Tenant must first give Landlord at least fifteen (15) days’ notice of Tenant's intention to terminate. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty such fifteen (12015) daysday period, Landlord may at its option make these within a reasonable time andcompletes the repairs and restoration required of it, if agreed Tenant shall have no further right to by Tenant, terminate this Lease shall continue in effectpursuant to the preceding sentence. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days of the date of occurrence of such damage Unless this Lease is terminated as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is givenhereinabove provided, Landlord shall be deemed proceed with due diligence to have elected restore, repair and replace the Premises and Building to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to substantially the other, cancel this Lease same condition as they were in as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions Commencement Date of this Lease and that Landlord from and after the date of such damage until the date of completion of said repairs, replacements and restorations, a just proportion of Rent herein shall not be obliged ▇▇▇▇▇ according to repair any damage thereto or replace the sameextent the full use and enjoyment of the Premises are materially impaired by reason of such damage. Landlord shall not be required under no duty to repair restore any injury alterations, improvements or damage caused additions made by fire Tenant. Landlord's obligations under this Section shall be limited to the extent of insurance proceeds payable as a result of the casualty, cause or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantcondition.

Appears in 1 contract

Sources: Lease (EVO Transportation & Energy Services, Inc.)

UNTENANTABILITY. In If the event the Premises, Building or Project Premises are damaged made untenantable in whole of in part by fire or other insured casualty and casualty, the insurance proceeds have been Rent, until repairs shall be made available therefore or the Lease terminated as hereinafter provided, shall be apportioned on a per diem basis according to the part of the Premises which is usable by the holder Tenant, if, but only if, such fire or holders other casualty was not caused by the fault or negligence of any mortgages the Tenant, its contractors, agents, or deeds of trust, the employees. If such damage shall be repaired so extensive that the Premises cannot be restored to tenantability by and at the expense Landlord within a period of Landlord one hundred eighty (180) days, either party shall have the right to cancel this Lease by notice to the extent other given at any time within sixty (60) days after the date of such insurance proceeds available thereforedamage; except that if such fire or casualty resulted from the Tenant's fault or negligence, provided the Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the opinion of the Landlord the Building should be restored in such repairs cana way as to alter the Premises materially, in Landlord’s sole opinionthe Landlord may cancel this Lease by notice to the Tenant given at any time within sixty (60) days after the date of such damage. If more than twenty-five percent (25%) of the Building is made untenantable by fire or other casualty (regardless of whether the Premises are untenantable), be made Landlord may terminate this Lease by written notice to Tenant within one hundred twenty (120) days after the occurrence date of such damage without casualty. In the payment event of overtime or other premiums. Until giving effective notice pursuant to this Section, this Lease and the term and the estate hereby granted shall expire on the date fifteen (15) days after the giving of such repairs are completed, notice as fully and completely as if such date were the rent shall be abated in proportion to date hereinafter set for the part expiration of the Premises which is unusable by term of this Lease. In the even neither Landlord not Tenant cancels the Lease, or if in the conduct of its business. If repairs cannot, in Landlord’s sole 's opinion the Premises can be made restored to tenantability within one hundred twenty eighty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120180) days and Landlord shall notify Tenant within thirty (30) days of wishes to effect such restoration, the date of occurrence of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is givenshall, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason promptly after adjustment of any injury torelevant insurance claims, damage or interference with Tenant’s business or property arising from any commence such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantrestoration at Landlord's expense.

Appears in 1 contract

Sources: Assignment and Assumption of Lease (Integrated Information Systems Inc)

UNTENANTABILITY. In If the event premises or the Premises, Building or Project are damaged made unfit for occupancy by fire or other insured casualty casualty, acts of God, or other cause, and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall cannot be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty ninety (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (12090) days, Landlord either Lessee or Lessor may at its option make these within a reasonable time and, if agreed elect (a) to by Tenant, terminate this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty (120) days Landlord shall notify Tenant within thirty (30) days as of the date of occurrence of such damage as to whether when the premises or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be the Building are so made within one hundred twenty (120) days of notice, then either party mayunfit for occupancy, by written notice to the otherother party, cancel or (b) to repair, restore, or rehabilitate the premises or the Building at Lessor's expense within one hundred eighty (180) days after Lessor is enabled to take possession of all damaged areas and to undertake reconstruction or repairs; and if Lessor elects so to repair, restore, or rehabilitate the premises or the Building, this Lease shall not terminate, but rent shall be abated on a per-diem basis to the extent and for the period that the premises are unfit for occupancy. In the event Lessor shall proceed under (b) above and shall not substantially complete the work within said one hundred eighty (180) day period (excluding from said period loss of time resulting from delays beyond the reasonable control of Lessor) either Lessor or Lessee may then terminate this Lease, as of the last day of such one hundred eighty (180) day period, by written notice to the other not later than ten (10) days after the expiration of said one hundred eighty (180) day period, computed as herein provided, and Lessor shall have no liability to Lessee for failure to restore, repair, or rehabilitate the premises. In the event of termination of this Lease pursuant to this Paragraph, rent shall be apportioned on a per-diem basis to and including the effective date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such noticetermination. Except as provided in this SectionParagraph, there neither party hereto shall be no abatement of rent and no liability of Landlord have the right to terminate this Lease by reason of any injury damage to, damage or interference with Tenant’s business destruction of, the premises or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for TenantBuilding.

Appears in 1 contract

Sources: Lease Agreement (Innovative Medtech, Inc.)

UNTENANTABILITY. In the event the Premises, Building premises or Project are the building in which the premises is located is damaged by fire or other insured casualty and casualty, Landlord shall forthwith repair the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trust, the damage shall be repaired by and at the expense of Landlord to the extent of such insurance proceeds available therefore, same provided such repairs can, in Landlord’s sole opinion, can be made within one hundred twenty sixty (12060) days after under the occurrence laws and regulations of such damage without the payment state, federal, county and municipal authorities and this lease shall remain in full force and effect except that Tenant shall be entitled to a proportionate reduction of overtime or other premiums. Until rent while such repairs are completedbeing made, such proportionate reduction to be based upon the rent extent to which the making of such repairs shall be abated in proportion to interfere with the part of the Premises which is unusable business carried on by Tenant in the conduct of its businesspremises. If such repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion cannot be made within one hundred twenty sixty (12060) days days, Landlord shall notify have the option to either (a) repair and restore such damage, this lease continuing in full force and effect, but the rent to be proportionately reduced as hereinabove in this Paragraph 16 provided, or (b) give notice to Tenant at any time within thirty (30) days of the date of occurrence of after such damage terminating this lease as of a date to whether or not Landlord elects to make be specified in such repairs and if no such repairs and if no such notice is givennotice, Landlord which date shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within less than thirty (30) days nor more than sixty (60) days after the giving of such notice. Except as provided In the event of the giving of such notice, this lease shall terminate on such date so specified in this Sectionsuch notice and the rent, there reduced by any proportionate reduction based upon the extent, if any, to which same damage interfered with the business carried on by Tenant in the premises, shall be no abatement paid up to the date of such termination, Landlord agreeing to refund to Tenant any rent and no liability theretofore paid for any period of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any time subsequent to such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the samedate. Landlord shall not be required to repair any injury or damage caused by fire or other causecause to the property of Tenant, or to make any repairs or replacements to replacement of any panelling, decorations, partitions, railing, ceilings, floor covering, or of any improvements installed on the premises by Tenant. During the last twelve (12) months of the term of this Lease in the Premises event that the premises are damaged to such extent that they cannot reasonably be repaired and restored within six (6) months following the casualty, then Tenant shall have the right to terminate this Lease by or for written notice given to Landlord not later than thirty (30) days after such casualty. The provisions of Section 1932, Subdivision 2, and 1933, Subdivision 4 of the Civil Code of California are hereby waived by Tenant.

Appears in 1 contract

Sources: Lease Agreement (Instant Video Technologies Inc)

UNTENANTABILITY. In If the event the Premises, Building Premises are made untenantable in whole or Project are damaged in part by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustRent, the damage until repairs shall be repaired by and at made or the expense of Landlord to the extent of such insurance proceeds available thereforelease terminated as hereinafter provided, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion apportioned on a per diem basis according to the part of the Premises which is unusable usable by Tenant in the conduct Tenant, if, but only if, such fire or other casualty be not caused by the fault or negligence of the Tenant, its businesscontractors, agents, or employees. If repairs cannot, in Landlord’s sole opinion such damage shall be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In so extensive that the case of repairs, which in Landlord’s opinion Premises cannot be made restored to the same or better quality condition than the condition prior to the fire or other casualty by the Landlord within one hundred twenty a period of three (1203) days Landlord months, either party shall notify Tenant have the right to cancel this lease by notice to the other given at any time within thirty (30) days of after the date of occurrence such damage; except that if such fire or casualty resulted from the Tenant's fault or negligence the Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the opinion of the Landlord the Building should be restored in such damage a way as to whether alter the Building or not Premises materially, the Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, may cancel this lease by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises given at any time within thirty (30) days after the date of such noticedamage. Except as provided in In the event of giving effective notice pursuant to this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that the term and the estate hereby granted shall expire on the date fifteen (15) days after the giving of such notice as fully and completely as if such date were the date hereinbefore set for the expiration of the term of this lease. If this lease is not terminated, the Landlord shall not be obliged to will promptly repair any the damage thereto or replace at the sameLandlord's expense. Landlord shall not be required obligated to repair repair, restore or replace any injury or damage caused by fire fixture improvement, alteration, furniture, personal property, decorations or other causeproperty owned installed or made by Tenant, all of which shall be repaired restored or to make any repairs or replacements to or of improvements installed in the Premises replaced by or for Tenant.

Appears in 1 contract

Sources: Lease Agreement (Access Integrated Technologies Inc)

UNTENANTABILITY. In If the event Premises or the Premises, Building or Project are shall be partially damaged by fire or other insured casualty casualty, this Lease shall remain in full force and effect and the insurance proceeds have been made available therefore by damage to the holder Premises or holders of any mortgages or deeds of trust, the damage Building shall be repaired by and at Landlord as soon as practicable under the expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiumscircumstances. Until such repairs are completedshall be made, the rent Base Rent and other charges shall be abated in proportion on a per diem basis proportionate to the part extent and for the period that the Premises are unfit for occupancy or cannot be used, as the case may be. If all or substantially all of the Premises which is unusable or the Building are damaged or made unfit for occupancy by fire or other casualty, Landlord may elect: (i) to terminate this Lease as of the date when the Premises or the Building are so made unfit for occupancy, by written notice to Tenant in within ninety (90) days after such date, or; (ii) to repair, restore or rehabilitate the conduct of its business. If repairs cannotPremises or the Building, in at Landlord’s sole opinion be made 's expense, within one hundred twenty eighty (120180) daysdays after Landlord is in possession of all insurance proceeds and necessary permits for reconstruction or repair. If Landlord elects so to repair, Landlord may at its option make these within a reasonable time and, if agreed to by Tenantrestore or rehabilitate the Premises or the Building, this Lease shall continue in effect. In not terminate, but until such repairs shall be made, Base Rent and other charges shall be abated on a per diem basis proportionate to the case of repairs, which in Landlord’s opinion extent and for the period that the Premises or the Building are unfit for occupancy or cannot be made used, as the case may be. If Landlord shall proceed under clause (ii) above and shall not substantially complete the work within said one hundred twenty eighty (120180) days day period (excluding from said period loss of time resulting from delays beyond the reasonable control of Landlord) either Landlord shall notify or Tenant within thirty (30) days may then terminate this Lease, as of the date of occurrence of such damage as to whether when the Premises or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be the Building were so made within one hundred twenty (120) days of notice, then either party mayunfit for occupancy, by written notice to the other, cancel other not later than ten (10) days after the expiration of said one hundred eighty (180) day period. In the event of a termination of this Lease as of pursuant to this Section 17, Base Rent shall be apportioned on a per diem basis to and including the effective date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such noticetermination. Except as provided in this Section, there Landlord shall be no abatement of rent and incur no liability on account of any delay in the completion of any repairs to be made by Landlord which may arise by reason of any injury toadjustment of insurance, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other causelabor difficulties, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenantother cause beyond Landlord's control.

Appears in 1 contract

Sources: Standard Office Lease (Ydi Wireless Inc)

UNTENANTABILITY. In If the event Demised Premises or the Premisesbuilding in which they are located are made unfit for occupancy by the elements, Building or Project are damaged by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustcause, the damage shall be repaired Landlord may elect to terminate this Lease as of the time when the premises or building are made unfit for occupancy, by and notice to the Tenant within ninety (90) days after that occurrence. In the alternative, Landlord may elect to repair the building or the premises at the Landlord's expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty eighty (120180) days after the occurrence Landlord is enabled to take possession of such damage without the payment of overtime damaged premises and undertake reconstruction or other premiums. Until such repairs are completedrepairs, the in which event this Lease shall not terminate, but rent shall be abated in proportion on a per diem basis, prorata, for the portion of the Demised Premises rendered unfit for occupancy. If the Landlord elects to so repair, restore or rehabilitate the building or the premises and does not substantially compete the work within said one hundred eighty (180) days period, excluding from said period loss of time caused by the delay beyond the control of the Landlord, then either party may terminate this Lease as of the time when the premises or the building were made unfit for occupancy, by notice to the part of the Premises which is unusable by Tenant in the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In the case of repairs, which in Landlord’s opinion canother party not be made within one hundred twenty (120) days Landlord shall notify Tenant within later than thirty (30) days after expiration of said one hundred eighty (180) day period, as so computed. In the event of termination of the Lease pursuant to this section, rent, including any escalation thereof, shall be apportioned on a per diem basis and shall be paid to the date of occurrence termination. Anything herein stated to the contrary notwithstanding, in the event that the building in which the Demised Premises are located shall be damaged in any way whatsoever, and the estimated cost of repairing such damage shall exceed one-half (1/2) of the value of the building at the time of the happening of such damage as by reason of such damage, the Landlord may decide to whether or not Landlord elects to make demolish said building and rebuild the same and, in such repairs and if no such repairs and if no such notice is givenevent, the Landlord shall be deemed have the right to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, terminate this Lease by written notice giving to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days days' written notice of such notice. Except as provided in this Section, there shall be no abatement of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for Tenanttermination.

Appears in 1 contract

Sources: Lease Agreement (Liberty Self Stor Inc)

UNTENANTABILITY. In If the event the Premises, Building Premises are made untenantable in whole or Project are damaged in part by fire or other insured casualty and the insurance proceeds have been made available therefore by the holder or holders of any mortgages or deeds of trustRent, the damage until repairs shall be repaired by and at made or the expense of Landlord to the extent of such insurance proceeds available thereforeLease terminated as hereinafter provided, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty (120) days after the occurrence of such damage without the payment of overtime or other premiums. Until such repairs are completed, the rent shall be abated in proportion apportioned on a per them basis according to the part of the Premises which is unusable usable by Tenant in the conduct Tenant, if, but only if, such fire or other casualty be not caused by the fault or negligence of the Tenant, its businesscontractors, agents, or employees. If repairs cannot, in Landlord’s sole opinion such damage shall be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effect. In so extensive that the case of repairs, which in Landlord’s opinion Premises cannot be made restored to Building Standard by the Landlord within one hundred twenty a period of four (1204) days Landlord months, either party shall notify Tenant have the right to cancel this Lease by notice to the other given at any time within thirty (30) days of after the date of occurrence such damage, except that if such fire or casualty resulted from the Tenant's fault or negligence the Tenant shall have no right to cancel. If a portion of the Building other than the Premises shall be so damaged that in the opinion of the Landlord the Building should be restored in such damage a way as to whether or not alter the Premises materially, the Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty (120) days of notice, then either party may, may cancel this Lease by written notice to the other, cancel this Lease as of the date of the occurrence of such damage and Tenant must vacate the Premises given at any time within thirty (30) days after the date of such noticedamage. Except as provided in In the event of giving effective notice pursuant to this Section, there this Lease and the term and the estate hereby granted shall expire on the date fifteen (15) days after the giving of such notice as fully and completely as if such date were the date hereinbefore set for the expiration of the Term of this Lease. If this Lease is not so terminated, the Landlord will promptly repair the damage; however, no damage, compensation, or claim shall be no abatement payable by Landlord for any inconvenience, loss of rent and no liability of Landlord by reason of any injury to, damage or interference with Tenant’s business or property annoyance arising from any such the fire or other casualty or from the making any repair or not making restoration of any repairs, alterations or improvements in or to any portion of the Premises, Building Premises or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for TenantBuilding.

Appears in 1 contract

Sources: Lease Agreement (Matrix Bancorp Inc)

UNTENANTABILITY. In If the event premises or the Premises, Building or Project are damaged made unfit for occupancy by fire or other insured casualty and casualty, acts of God, or other cause, Lessor may elect (a) to terminate this Lease as of the insurance proceeds have been date when the premises or the Building are so made available therefore unfit for occupancy, by written notice to Lessee within ninety (90) days after that date, or (b) to repair, restore, or rehabilitate the holder premises or holders of any mortgages or deeds of trust, the damage shall be repaired by and Building at the Lessor’s expense of Landlord to the extent of such insurance proceeds available therefore, provided such repairs can, in Landlord’s sole opinion, be made within one hundred twenty eighty (120180) days after Lessor is enabled to take possession of all damaged areas and to undertake reconstruction or repairs; and if Lessor elects so to repair, restore, or rehabilitate the occurrence of such damage without premises or the payment of overtime or other premiums. Until such repairs are completedBuilding, the this Lease shall not terminate, but rent shall be abated in proportion on a per-diem basis to the part of extent and for the Premises which is unusable by Tenant in period that the conduct of its business. If repairs cannot, in Landlord’s sole opinion be made within one hundred twenty (120) days, Landlord may at its option make these within a reasonable time and, if agreed to by Tenant, this Lease shall continue in effectpremises are unfit for occupancy. In the case of repairs, which in Landlord’s opinion canevent Lessor shall proceed under (b) above and shall not be made substantially complete the work within said one hundred twenty eighty (120180) days Landlord shall notify Tenant within thirty day period (30excluding from said period loss of time resulting from delays beyond the reasonable control of Lessor) days either Lessor or Lessee may then terminate this Lease, as of the date of occurrence last day of such damage as to whether or not Landlord elects to make such repairs and if no such repairs and if no such notice is given, Landlord shall be deemed to have elected to make such repairs. If Landlord elects not to make such repairs or if said repairs cannot be made within one hundred twenty eighty (120180) days of notice, then either party mayday period, by written notice to the otherother not later than ten (10) days after the expiration of said one hundred eighty (180) day period, cancel computed as herein provided, and Lessor shall have no liability to Lessee for failure to restore, repair, or rehabilitate the premises. In the event of termination of this Lease as of pursuant to this Paragraph, rent shall be apportioned on a per-diem basis to and including the effective date of the occurrence of such damage and Tenant must vacate the Premises within thirty (30) days of such noticetermination. Except as provided in this SectionParagraph, there neither party hereto shall be no abatement of rent and no liability of Landlord have the right to terminate this Lease by reason of any injury damage to, damage or interference with Tenant’s business destruction of, the premises or property arising from any such fire or other casualty or from the making or not making of any repairs, alterations or improvements in or to any portion of the Premises, Building or Project or in or to fixtures, appurtenances and equipment therein. Tenant understands that Landlord will not carry insurance of any kind on Tenant’s furniture or furnishings or on any fixtures or equipment removable by Tenant under the provisions of this Lease and that Landlord shall not be obliged to repair any damage thereto or replace the same. Landlord shall not be required to repair any injury or damage caused by fire or other cause, or to make any repairs or replacements to or of improvements installed in the Premises by or for TenantBuilding.

Appears in 1 contract

Sources: Lease Agreement (11 Good Energy Inc)