Common use of Landlord’s Estimates Clause in Contracts

Landlord’s Estimates. As soon as reasonably practicable under the circumstances including the scope of the casualty, Landlord will assess any damage to the Premises and Building (but not the Leasehold Improvements) and notify Tenant of Landlord’s reasonable estimate of the time required to substantially complete repairs and restoration of the Premises and Building (“Repair Estimate”). Landlord will also reasonably estimate the time that the Premises will be untenantable (“Interruption Estimate”). Within thirty (30) days after the later of the issuance of the Repair Estimate, issuance of the Interruption Estimate, or receipt of any denial of coverage or reservation of rights from Landlord’s insurer, each party may terminate the Lease by written notice to the other on the following conditions: (1) Landlord may elect to terminate this Lease if either: (A) The damage occurs during the last year of the Term, or (B) The Repair Estimate exceeds one hundred eighty (180) days, or (C) The repair and restoration is not fully covered by insurance maintained or required to be maintained by Landlord (subject only to those deductibles or retentions Landlord elected to maintain) or Landlord’s insurer denies coverage or reserves its rights on coverage or any mortgagee of the Building requires that insurance proceeds be applied to the indebtedness secured by its mortgage, provided Tenant may, in its sole and absolute discretion, elect to fund repair of any damage which is not otherwise covered as described in this Section 10.1(a)(1)(C). (2) Tenant may elect to terminate this Lease if the Interruption Estimate exceeds one hundred eighty (180) days, or if the damage occurs during the last year of the Term (or any extended Term which Tenant may have elected) and renders the Premises or a material part thereof untenantable.

Landlord’s Estimates. As soon as reasonably practicable under the circumstances including the scope of the casualty, Landlord will assess any damage to the Premises and Building (but not the Leasehold Improvements) and notify Tenant of Landlord’s reasonable estimate of the time required to substantially complete repairs and restoration of the Premises and Building (“Repair Estimate”). Landlord will also reasonably estimate the time that the Premises will be untenantable (“Interruption Estimate”). Within thirty (30) days after the later of the issuance of the Repair Estimate, issuance of the Interruption Estimate, or receipt of any denial of coverage or reservation of rights from Landlord’s insurer, each party may terminate the this Lease by written notice to the other on the following conditions: (1) Landlord may elect to terminate this Lease if either: (A) The damage occurs during the last year of the Term, or (B) The Repair Estimate exceeds one hundred eighty (180) days, or (C) The repair and restoration is not fully covered by insurance maintained or required to be maintained by Landlord (subject only to those deductibles or retentions Landlord elected to maintain) or Landlord’s insurer denies coverage or reserves its rights on coverage or any mortgagee of the Building requires that insurance proceeds be applied to the indebtedness secured by its mortgage, provided Tenant may, in its sole and absolute discretion, elect to fund repair of any damage which is not otherwise covered as described in this Section 10.1(a)(1)(C). (2) Tenant may elect to terminate this Lease if the Interruption Estimate exceeds one hundred eighty (180) days, or if days and Tenant did not cause the damage occurs during the last year of the Term (or any extended Term which Tenant may have elected) and renders the Premises or a material part thereof untenantabledamage.

Landlord’s Estimates. As soon as reasonably practicable under Landlord shall assess the circumstances including the scope of the casualty, Landlord will assess any damage to the Premises and Building Project (but not the Leasehold Improvements) and as soon as reasonably practicable notify Tenant of Landlord’s reasonable estimate of the time required to substantially complete repairs and restoration of the Premises Project from the date of such estimate taking into account the time periods required to make insurance loss adjustments, obtain permits and Building engage contractors (“Repair Estimate”). The period of time set forth in the Repair Estimate is referred to as the “Repair Estimate Period”. In the Repair Estimate, Landlord will shall also reasonably estimate the time period that the Premises will be untenantable Untenantable (the “Interruption Period Estimate”)‘) taking into account any period of up to 120 days that will be required to restore or repair the Leasehold Improvements. Within thirty (30) 30 days after the later of the casualty, issuance of the Repair Estimate, issuance or, in the case of the Interruption EstimateLandlord only, or receipt of any a denial of coverage or reservation of rights from Landlord’s insurer, each party of Landlord and Tenant may terminate the Lease by written notice giving to the other written notice on the following conditions: (1) Landlord may elect to terminate this Lease if the Premises or any material portion thereof is Untenantable and either: (A) The damage occurs Repair Estimate Period during which the last year Premises or any material portion thereof in any of the Term00 Xxxxx Xxxxxx Xxxxxxxx, the 00 Xxxxx Xxxxxx Xxxxxxxx, or the 00 Xxxxx Xxxxxx Xxxxxxxx will remain Untenantable exceeds 365 days, or (B) The Repair Estimate exceeds one hundred eighty (180) days, damage or destruction occurs in the last 12 Months of the Term and all options to extend the Term have expired; or (C) The repair and restoration necessary so that no material portion of the Project will continue to be Untenantable is not fully substantially covered by insurance maintained or required to be maintained by Landlord (subject only to those deductibles or retentions Landlord elected to maintain) or Landlord’s insurer finally and unconditionally denies coverage or reserves its rights on coverage or any mortgagee of the Building requires that insurance proceeds be applied to the indebtedness secured by its mortgage, provided Tenant may, in its sole and absolute discretion, elect to fund repair of any damage which is not otherwise covered as described in this Section 10.1(a)(1)(C)coverage. (2) Tenant may elect to terminate this Lease if the Interruption Period Estimate exceeds one hundred eighty 365 days. (1803) daysIf Tenant so elects, Tenant may render void any election by Landlord to terminate this Lease pursuant to Section 10.1(a)(1)(A) by giving to Landlord written notice (a “Voiding Notice”) within 30 days after Landlord gives to Tenant such termination notice; provided, that (A) there are at least three years remaining in the Term, or, if there are fewer than three years remaining in the Term, that Tenant exercises, in accordance with this Lease, an available Extension Option at or if prior to the damage occurs during the last year time of the Term giving of such Voiding Notice, (B) the cost of the Base Building repairs will be covered by insurance in all material respects, excluding any deductibles or retentions Landlord elected to maintain, and no material amount of such cost is uninsured or subject to any extended Term which final or unconditional denial of claim or coverage by any insurance provider, (C) Tenant may have elected) covenants in writing to restore the Leasehold Improvements as required herein, and renders occupy that portion of the Premises or a material part thereof untenantableoccupied by Tenant prior to the Casualty, (D) less than 50% of the Building is damaged, and (E) Tenant shall not have the right to terminate this Lease pursuant to Section 10.1(a)(2), and shall not terminate this Lease pursuant to Section 10.1(b)(1) so long as Landlord is diligently pursuing the repairs and restoration.

Landlord’s Estimates. As soon as reasonably practicable under the circumstances circumstances, including the scope of the casualty, Landlord will assess any damage to the Premises and Building (but not the Leasehold Improvements) and notify Tenant of Landlord’s reasonable estimate of the time required to substantially complete repairs and restoration of the Premises and Building (“Repair Estimate”). Landlord will use commercially reasonable efforts to notify Tenant of the Repair Estimate within [***] of the casualty, subject to extension for matters outside of Landlord’s reasonable control. Landlord will also reasonably estimate the time that the Premises will be untenantable (“Interruption Estimate”). Within thirty (30) days [***] after the later of the issuance of the Repair Estimate, issuance of the Interruption Estimate, or receipt of any denial of coverage or reservation of rights from Landlord’s insurer, each party may terminate the Lease by written notice to the other on the following conditions: (1) Landlord or Tenant may elect to terminate this Lease if all or a substantial portion of the Premises is damaged (or if access to the Premises is substantially impaired) and either: (A) The damage occurs during the last year of the TermTerm (unless Tenant has exercised its extension option as provided herein), or (B) The Repair Estimate exceeds one three hundred eighty sixty five days (180365) daysfrom the date of the casualty and with respect to Tenant’s right to terminate, or Tenant did not cause the damage. If neither Landlord nor Tenant terminates this Lease as provided above and Landlord undertakes but fails to substantially complete Landlord’s restoration of the Premises and access thereto by the date set forth in the Repair Estimate (C) The provided, however, that such date in the Repair Estimate shall be extended up to the greater of [***] or the number of days the repair and restoration is delayed by Force Majeure, so long as Landlord is actively restoring the Premises and access thereto, as the case may be (the “Outside Completion Date”)), Tenant may terminate this Lease by giving Landlord written notice of termination at any time after the Outside Completion Date but prior to such substantial completion (such termination notice to include a termination date providing not more than [***] for Tenant to vacate the Premises). (2) In addition, Landlord may elect to terminate this Lease if the repair and restoration to be performed by or on behalf of Landlord is not fully covered by insurance maintained or required to be maintained by Landlord (subject only to those deductibles or retentions Landlord elected to maintain) or Landlord’s insurer denies coverage or reserves its rights on coverage or any mortgagee of the Building requires that insurance proceeds be applied to the indebtedness secured by its mortgage, provided Tenant may, in its sole and absolute discretion, elect to fund repair of any damage which is not otherwise covered as described in this Section 10.1(a)(1)(C). (2) Tenant may elect to terminate this Lease if the Interruption Estimate exceeds one hundred eighty (180) days, or if the damage occurs during the last year of the Term (or any extended Term which Tenant may have elected) and renders the Premises or a material part thereof untenantable.

Landlord’s Estimates. As soon as reasonably practicable under the circumstances including the scope of the casualty, Landlord will assess any damage to the Premises and Building (but not the Leasehold Improvements) and notify Tenant of Landlord’s reasonable estimate of the time required to substantially complete repairs and restoration of the Premises and Building (“Repair Estimate”). Landlord will also reasonably estimate the time that the Premises will be untenantable (“Interruption Estimate”). Within thirty (30) days after the later of the issuance of the Repair Estimate, issuance of the Interruption Estimate, or receipt of any denial of coverage or reservation of rights from Landlord’s insurer, each party may terminate the Lease by written notice to the other on the following conditions: (1) Landlord may elect to terminate this Lease if either: (A) The damage occurs during the last year of the Term, or (B) The Repair Estimate exceeds one hundred eighty (180) days, or (C) The repair and restoration is not fully covered by insurance maintained or required to be maintained by Landlord (subject only to those deductibles or retentions Landlord elected to maintain) or Landlord’s insurer denies coverage or reserves its rights on coverage or any mortgagee of the Building requires that insurance proceeds be applied to the indebtedness secured by its mortgage, provided Tenant may, in its sole and absolute discretion, elect to fund repair of any damage which is not otherwise covered as described in this Section 10.1(a)(1)(C). (2) Tenant may elect to terminate this Lease if the Interruption Estimate exceeds one hundred eighty (180) days, or if days and Tenant did not cause the damage occurs during the last year of the Term (or any extended Term which Tenant may have elected) and renders the Premises or a material part thereof untenantabledamage.