Common use of Landlord's Obligation to Rebuild Clause in Contracts

Landlord's Obligation to Rebuild. In the event the Leased Premises are damaged by fire, explosion or other casualty, Landlord shall commence the repair, restoration or rebuilding thereof within sixty (60) days after such damage and shall complete such restoration, repair or rebuilding within one hundred fifty (150) days after the commencement thereof, provided that if construction is delayed because of changes, deletions, or additions in construction requested by Tenant, strikes, lockouts, casualties, acts of God, war, material or labor shortages, governmental regulation or control or other causes beyond the control of Landlord, the period for restoration, repair or rebuilding shall be extended for the amount of time Landlord is so delayed. If the casualty or the repair, restoration or rebuilding caused thereby shall render the Leased Premises untenantable, in whole or in part, rent shall be equitably abated during the period of untenantability and Tenant shall have no liability for the abated rent. If such a fire, explosion or other casualty damages the building in which the Leased Premises are located in a material or substantial way during the last two (2) years of the original Term or the then applicable Option Term, then unless Tenant exercises an outstanding option for an Option Term, Landlord may, in lieu of repairing, restoring or rebuilding the same, terminate this Lease within sixty (60) days after the occurrence of the event causing the damage by notice to Tenant. In such event, the obligation of Tenant to pay rent and other charges hereunder shall end as of the date when the damage occurred.

Landlord's Obligation to Rebuild. In If all or any portion of the event the Leased Demised Premises are is damaged by fire, explosion fire or other casualtycasualty and if Landlord has not elected to terminate this Lease, Landlord shall, within a reasonable time after such occurrence, shall commence repair or rebuild the repairDemised Premises or such portion to its condition immediately prior to the Commencement Date reasonable wear and tear excepted. Notwithstanding the above provisions of this Section 12.03, if the restoration of the Demised Premises, as required of the Landlord, is not substantially completed by Landlord within one hundred eighty (180) days after the Landlord’s insurance carrier(s) makes available insurance proceeds for the restoration of the Demised Premises, (as such date may be extended by one day for each day of delay caused by force majeure conditions beyond the control of Landlord and/or which are caused by the Tenant’s and/or any of the Tenant Parties’ physical interference with the Landlord’s repairs and restoration work, or rebuilding thereof within Tenant’s failure to cooperate with the Landlord’s restoration of the Demised Premises), then Tenant shall, have the right, by written notice to the Landlord, to terminate this Lease, and such notice of termination shall be effective and binding on Landlord and Tenant as of sixty (60) days after following the giving of such damage written notice, unless, Landlord substantially completes such repair and shall complete such restoration, repair or rebuilding within one hundred fifty (150) days after restoration work required of Landlord prior to the commencement thereof, provided that if construction is delayed because of changes, deletions, or additions in construction requested by Tenant, strikes, lockouts, casualties, acts of God, war, material or labor shortages, governmental regulation or control or other causes beyond the control of Landlord, the period for restoration, repair or rebuilding shall be extended for the amount of time Landlord is so delayed. If the casualty or the repair, restoration or rebuilding caused thereby shall render the Leased Premises untenantable, in whole or in part, rent shall be equitably abated during the period of untenantability and Tenant shall have no liability for the abated rent. If such a fire, explosion or other casualty damages the building in which the Leased Premises are located in a material or substantial way during the last two (2) years end of the original Term or the then applicable Option Term, then unless Tenant exercises an outstanding option for an Option Term, Landlord may, in lieu of repairing, restoring or rebuilding the same, terminate this Lease within sixty (60) days after day period following the occurrence giving of the event causing the damage by notice to Tenant. In such event, the obligation of Tenant to pay rent and other charges hereunder shall end as of the date when the damage occurredwritten notice.