Common use of UNTENANTABILITY Clause in Contracts

UNTENANTABILITY. If all or a material portion of the Premises, or in excess of thirty (30%) percent of the Building, are made untenantable by fire or other casualty, then either Landlord or Tenant may, at their option, elect: A. To terminate this Lease as of the date of the fire or casualty by notice to the other party within thirty (30) days after that date; or, if no such notice is given, B. Landlord shall proceed with all due diligence to repair, restore or rehabilitate the Building or the Premises (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 a material portion 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 thirty (30) days after the date of fire or other casualty, in which event the rent shall be apportioned on a per diem basis and paid to the date of such fire or other casualty.

Appears in 2 contracts

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

UNTENANTABILITY. If all Landlord shall be in substantial default in the performance of any material obligation of Landlord under this Lease and such default shall cause the demised premises, or a material portion thereof, to become in an untenantable condition then, unless Landlord shall, within 15 days after receipt of Tenant's notice of such condition, have commenced the work, discontinued or modified the operations or purchased the materials or equipment necessary to remedy such condition and, thereafter, diligently pursued such remedial work to completion, the Base Rent, additional rent and other charges then payable by Tenant under the terms of this Lease shall be abated after such 15 day period for such time as the demised premises, or portion thereof, shall remain untenantable, in the proportion which the area of the Premises, or in excess of thirty (30%) percent premises rendered untenantable by Landlord's default bears to the area of the Buildingwhole demised premises. If Tenant, are made at Tenant's cost, shall restore such untenantable area of the demised premises to a tenantable condition, then such rent abatement shall thereafter cease but Landlord shall be liable to reimburse Tenant for Tenant's reasonable costs of such restoration. This Article 61 shall not be deemed to apply to untenantability of the demised premises arising out of destruction by fire or other casualty, then either Landlord casualty which is dealt with in Article 48 or to Tenant's inability to occupy the demised premises for a use intended by Tenant may, at their option, elect: A. To terminate this Lease as of the date of the fire or casualty by notice to the other party within thirty (30) days after that date; or, if no such notice which is given, B. Landlord shall proceed dealt with all due diligence to repair, restore or rehabilitate the Building or the Premises (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 a material portion 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 thirty (30) days after the date of fire or other casualty, in which event the rent shall be apportioned on a per diem basis and paid to the date of such fire or other casualtyArticle 53.

Appears in 1 contract

Sources: Lease Agreement (Impath Inc)

UNTENANTABILITY. If all or a material portion of the Premises, or condition referred to in excess of thirty (30%) percent of section 9.2 is such so as to make the Building, are made untenantable by fire or other casualtyentire premises untenantable, then either Landlord or the rental which Tenant may, at their option, elect: A. To terminate this Lease is obligated to pay hereunder shall ▇▇▇▇▇ as of the date of the fire occurrence until the premises have been fully and completely restored by Landlord. Any unpaid or casualty by notice prepaid rent for the month in which said condition occurs shall be prorated. If the premises are partially damaged or destroyed, then during the period that Tenant is deprived of the use of the damaged portion of said premises, Tenant shall be required to pay rental covering only that part of the premises that it is able to occupy, based on that portion of the total rent which the amount of square foot area remaining that can be occupied bears to the other party within thirty (30) days after that date; or, if no such notice is given, B. Landlord shall proceed with total square foot area of all due diligence to repair, restore or rehabilitate the Building or the Premises (excluding leasehold improvements installed or paid for premises covered by Tenant) at Landlord’s expense, in which latter event this Lease shall not terminateLease. In the event the Lease is not terminated pursuant premises are substantially or totally destroyed by fire or other casualty so as to these provisionsbe entirely untenantable, rent and it shall ▇▇▇▇▇ only with respect require more than ninety (90) days from the date of said fire or other casualty for Landlord to complete restoration of same, then Landlord, upon written notice to Tenant, may terminate this Lease, in which case 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 said fire or other casualty. If less than thirty (30%) percent Due allowance, however, shall be given for reasonable time required for adjustment and settlement of insurance claims, and for such other delays as may result from government restrictions, and controls on construction, if any, and for strikes, national emergencies and other conditions beyond the Building control of Landlord. No compensation, or less than all claim, or a material diminution of rent will be allowed or paid by Landlord, by reason of inconvenience, annoyance, or injury to business, arising from the necessity of repairing the demised premises or any portion of the Premises building of which they 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 thirty (30) days after the date of fire or other casualty, in which event the rent shall be apportioned on a per diem basis and paid to the date of such fire or other casualtypart.

Appears in 1 contract

Sources: Office Building Lease (Sherwood Brands Inc)

UNTENANTABILITY. If all or a material portion substantially all of the Premises, or in excess of thirty (30%) percent of the Building, are made untenantable by fire or other casualty, then either Landlord or Tenant may, at their its option, elect: A. To terminate this Lease as of the date of the fire or casualty by notice to the other party Tenant within thirty sixty (3060) days after that date; or, if no such notice is given, B. Landlord shall proceed Proceed with all due diligence to repair, restore or rehabilitate the Building or the Premises (excluding leasehold improvements installed or paid for by Tenant) at Landlord’s '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 ▇▇▇▇▇ abate only with respect to the portion of the Premises rendered untenantable unten▇▇▇▇▇le on a per diem basis during the period of untenantability. In the event of the termination of this Lease pursuant to this section 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 a material portion 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 thirty sixty (3060) days after the date of fire or other casualty, in which event the rent shall be apportioned on a per diem basis and paid to the date of such fire or other casualty.

Appears in 1 contract

Sources: Asset Purchase Agreement (Biotel Inc.)

UNTENANTABILITY. If all or a material portion of In the Premises, or in excess of thirty event (30%a) percent of the Building, Premises are made untenantable by fire or other casualtycasualty and Landlord shall decide not to restore or repair same, then either or (b) the Building is so damaged by fire or other casualty that Landlord shall decide to demolish or Tenant maynot rebuild the same, at their optionthen, elect: A. To in any of such events, Landlord shall have the right to terminate this Lease as of by notice to Tenant within ninety (90) days after the date of the such fire or other casualty by notice to and the other party within thirty (30) days after that date; or, if no such notice is given, B. Landlord shall proceed with all due diligence to repair, restore or rehabilitate the Building or the Premises (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 Rent shall be apportioned on a per diem basis and paid to the date of the such fire or other casualty. If less than thirty (30%) percent of In the Building or less than all or a material portion of event the Premises are made untenantable by fire or other casualty and Landlord shall decide to rebuild and restore the same, this Lease shall not terminate and Landlord shall repair and restore the Premises at Landlord's expense and with due diligence, subject, however, to (i) reasonable delays for insurance adjustments and (ii) delays caused by forces beyond Landlord's control, and the Rent shall ▇▇▇▇▇ on a per diem basis the period or reconstruction and repair. In the event the Premises are partially damaged by fire or other casualty but are not made wholly untenantable, then Landlord shall, except during the last year of the term hereof proceed with all due diligence to repair and restore the Premises, subject, however, to (i) reasonable delays for insurance adjustments, and (ii) delays caused by forces beyond Landlord's control. In such event, the Rent shall ▇▇▇▇▇ in proportion to the nonusability of the Premises during the period while repairs are in progress. If the Premises are made partially untenantable as aforesaid during the last year of the Term hereof, as said Term may have been extended or renewed either Tenant or 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 thirty (30) days after the date of fire or other casualty, in which event event, the rent Rent shall be apportioned on a per diem basis and paid to the date of such fire or other casualty.

Appears in 1 contract

Sources: Lease Agreement (Platinum Technology Inc)

UNTENANTABILITY. If all the Premises or a material portion of the Premises, or in excess of thirty (30%) percent of the Building, Building are made untenantable by fire or other casualty, then either Landlord or Tenant may, at their option, may elect: A. To (a) to terminate this Lease as of the date of the fire or casualty by notice to the other party Tenant within thirty sixty (3060) days after that date; , or, if no such notice is given, B. Landlord shall (b) proceed with all due diligence to repair, restore or rehabilitate the Building or and the Premises (excluding leasehold improvements installed or paid for by Tenant) at Landlord’s 's expense, in which latter event this Lease shall not terminate. In the event the Lease is not terminated pursuant to these provisionsthis provision, 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 Section 13, 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 In the event that the Premises are partially damaged by fire or other casualty but are not made wholly untenantable, then Landlord shall, except during the last year of the Building or less than term hereof, proceed with all or due diligence to repair and restore the Premises and the rent shall ▇▇▇▇▇ in proportion to the untenantability of the Premises during the period of restoration. If a material portion of the Premises are made untenantable as aforesaid during the last year of the Term 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 thirty (30) days after the date of fire or other casualty, in which event the rent shall be apportioned on a per diem basis and paid to the date of such fire or other casualty.

Appears in 1 contract

Sources: Lease (Cavalier Homes Inc)