Destruction of the Building. (a) Notwithstanding the provisions of Section 9.1, if twenty-five percent (25%) or more of the Total Rentable Area of the Building is damaged or destroyed by any cause whatsoever (irrespective of whether the Leased Premises are damaged or destroyed) and if, in the opinion of the Landlord, acting reasonably, the Total Rentable Area of the Building so damaged or destroyed cannot be rebuilt or made fit for the purposes of the respective tenants of such space within one hundred and twenty (120) days of the damage or destruction, then, the Landlord may, at its option (to be exercised by written notice to the Tenant within sixty (60) days following such damage or destruction), elect to terminate this Lease. In the case of such election, the Term and the tenancy hereby created will expire upon the thirtieth day after such notice is given, without indemnity or penalty payable by, or any other recourse against, the Landlord, and the Tenant shall, within such thirty (30) day period, vacate and surrender the Leased Premises to the Landlord. Rent will be due and payable without reduction or abatement subsequent to the destruction or damage and until the date of termination, unless the Leased Premises will have been destroyed or damaged as well, in which event Section 9.1 will apply.
(b) If any part of the Building is destroyed or damaged and the Landlord does not elect to terminate this Lease in accordance with Section 9.2(a), the Landlord will commence diligently to restore that part of the Building damaged or destroyed, but only to the extent of the Landlord's responsibilities pursuant to the terms of the various leases for the premises in the Building, and exclusive of any tenant's responsibilities set out therein. If the Landlord elects to restore the Building, or any part thereof, the Landlord may restore according to plans, specifications and working drawings other than those used in the original construction of the Building.
Destruction of the Building. If the Lessor is of the opinion, which shall be given by notice within thirty ( 30 ) days of the loss, that twenty per cent ( 20 % ) or more of the leasable area of the Building is damaged, or if the Lessor is of the opinion that the Building is hazardous and that the Building cannot be reasonably repaired within one hundred and eighty ( 180 ) days or, that the proceeds of insurance do not cover the cost of repairs, then the Lessor may resiliate the Lease effective retroactively as of the date of the loss, all adjustments to the Rent to be made as of such date.
Destruction of the Building. If the Building should be substantially destroyed (which, as used herein, means destruction or damage to at least 25% of the Building) by fire or other casualty, either party hereto may, at its option, terminate this Lease by giving written notice thereof to the other party within thirty (30) days of such casualty. In such event, Rent shall be apportioned to and shall cease as of the date of such casualty. If neither party exercises this option, then the shell and core (as hereinafter defined) of the Building (including any elements thereof within the Premises) shall be reconstructed and restored, at Landlord's expense, to substantially the same condition as they were prior to the casualty.
Destruction of the Building. If all or any portion of the Building shall be damaged or destroyed by fire or other cause (regardless of whether the Premises may be affected thereby) to the extent that the cost of restoration thereof would exceed 25% of the amount it would have cost to replace the Building in its entirety at the time such damage or destruction occurred, then Landlord may elect to repair that portion of the Building owned by Landlord within a reasonable time after such damage or destruction, provided that Landlord shall not be obligated to expend for such rebuilding and repairing an amount in excess of the insurance proceeds recovered or recoverable as a result of such damage or destruction, or Landlord may elect to terminate this Lease upon 30 days notice to Tenant, which notice shall be given, if at all, within 60 days after the date of such occurrence. In the event of such termination, this Lease shall cease 30 days after such notice is given and all rent shall be adjusted as of that date.
Destruction of the Building. (a) Subject to the terms of this Article 12, if the Building is totally or partially damaged or destroyed by Casualty, Lessee shall restore the Building to the same or better condition as existed immediately prior to such Casualty. Lessee shall have no obligation to repair and restore Lessee’s Equipment and Personalty, trade fixtures, decorations, signs, contents, or any non-standard improvements to the Premises. If (i) the Casualty results in damage to the Building which will take in excess of (A) two hundred seventy (270) days from the beginning of restoration to restore (as reasonably determined by an independent registered architect engaged by Lessor who will certify to Lessor and Lessee as soon as practicable, but in any event within forty-five (45) days after the Casualty the amount of time needed to restore) the Building to the same condition as existed immediately prior to such Casualty, using standard working methods, and such Casualty occurs at any time during the then current Lease Term, or (B) three (3) months from the beginning of restoration to restore (as reasonably determined by such architect in the same manner as in clause (A) above) the Building to the same condition as existed immediately prior to such Casualty and such Casualty occurs during the last twelve (12) months of the then current Lease Term; (ii) the repair, restoration or reconstruction is prohibited by any zoning ordinance, building code or other Applicable Law, which in Lessor’s commercially reasonable determination, makes the rebuilding of the Building not economically viable, then Lessor may elect to terminate this Lease upon giving notice of such election in writing to Lessee within sixty (60) days after the occurrence of the Casualty, which notice shall specify a proposed termination date not earlier than the later of (x) one hundred twenty (120) days after the Casualty and (y) sixty (60) days after the date of the notice.
Destruction of the Building. If the Building is totally destroyed by fire or any other casualty, then Landlord or Tenant shall have the option to terminate this Lease by giving Tenant written notice within thirty (30) days after such destruction, and any unearned rent shall be apportioned and returned to Tenant. If Landlord or Tenant does not elect to cancel this Lease, then the same shall remain in full force and effect and Landlord shall proceed with all reasonable diligence to repair the Building. In the event of such restoration or repair, Landlord shall expend such sums as required to repair or restore the building to the condition it was in immediately prior to the date of the destruction. If Landlord elects to repair or rebuild the Building as herein provided, Landlord’s obligation hereunder shall be limited to that work specifically designated herein as being Landlord’s responsibility. Tenant shall repair or replace its merchandise, trade fixtures, furnishings, and equipment. A just and proportionate part of the rent payable by Tenant, to the extent that such damage or destruction renders the Building untenantable, shall xxxxx from the date of such damage or destruction until the Building are repaired. Notwithstanding anything contained herein to the contrary, the obligation of Landlord with respect to repairing or rebuilding the Building is subject to the prior right of Landlord’s lender to receive insurance proceeds as a result of a fire or other casualty, with any obligation of Landlord to be limited to the extent insurance proceeds are received by Landlord for such repair or rebuilding.
Destruction of the Building. (a) Notwithstanding Section 9.1, if twenty-five percent (25%) or more of the Rentable Area of the Building is damaged or destroyed (whether or not the Leased Premises are damaged or destroyed) and if the damaged or destroyed parts of the Building cannot be rebuilt to the extent of the Landlord's Work or made fit for the purposes of the respective occupants of the premises within ninety (90) days of the damage or destruction (assuming normal working days without overtime), then the Landlord may terminate this Lease upon not less than thirty (30) days' notice by written notice to the Tenant given within sixty (60) days after the damage or destruction, and in such event, Rent will abatx xx of the effective date of the termination.
(b) If any part of the Building is destroyed or damaged and the Landlord does not elect to terminate this Lease, the Landlord will commence diligently to restore the Building, to the extent only of insurance proceeds actually received by the Landlord and to the extent only of the Landlord's work described in the various Leases for the affected premises in the Building, and exclusive of any tenant's responsibilities set out therein. If the Landlord elects to restore the Building, the Landlord may restore according to plans and specifications and working drawings other than those used in the original construction of the Building.
Destruction of the Building. If the Building should be substantially destroyed or materially damaged (as determined by Landlord or any then current mortgagee of Landlord) by fire or other casualty, Landlord may, at its option, terminate this Lease by giving written notice thereof to Tenant within thirty (30) days of such casualty. In such event, the rent shall be apportioned to and shall cease as of the date of such casualty. In the event Landlord does not exercise this option, then the Premises shall be reconstructed and restored, at Landlord’s expense, to substantially the same condition as they were prior to the casualty.
Destruction of the Building. (a) Subject to the immediately succeeding sentence and payment to Lessor of the full replacement cost insurance proceeds, if any of the Building is totally or partially damaged or destroyed by Casualty, Lessor shall restore such Building to the same condition as existed immediately prior to such Casualty. If (i) the Casualty results in damage to the Building which will take in excess of (A) twelve (12) months from the beginning of restoration to restore (as reasonably determined by an independent registered architect engaged by Xxxxxx who will certify to Lessor and Lessee as soon as practicable, but in any event within forty-five (45) days after the Casualty the amount of time needed to restore) the Building to the same condition as existed immediately prior to such Casualty, using standard working methods, and such Casualty occurs at any time during the then current Lease Term, or
Destruction of the Building. (a) If the building is partially destroyed or damaged as so to affect twenty percent (20%) or more of the rentable area of the building containing the Premises, or in the opinion of the Landlord the Building is rendered unsafe, and whether or not the Premises are affected, and the opinion of Landlord (which shall be given by written notice to Tenant within thirty (30) days of the happening of such damage or destruction), cannot be repaired with reasonable diligence within one hundred and twenty (120) days from the happening of such damage or destruction, Landlord may within five (5) days next succeeding the giving of Landlord’s opinion as aforesaid, terminate this lease by giving to Tenant notice in writing of such termination, in which event the term of this lease shall cease and be at the end as of the date of such destruction or damage and the rent and all other payments for which the Tenant is liable under the terms of this lease shall be apportioned and paid in full to the date of such destruction or damage.
