Common use of Landlord's Option Not to Restore Clause in Contracts

Landlord's Option Not to Restore. Notwithstanding the foregoing provisions, if there is substantial destruction of the Building, or if, in the reasonable judgment of Landlord, such damage cannot be repaired and the Premises cannot be made tenantable within one hundred twenty (120) days of such damage, Landlord shall have the option not to restore, and may elect to terminate this Lease by sending notice as referred to in subparagraph (c) above, without giving Tenant the right to cause the notice of termination to be withdrawn. Landlord shall notify Tenant in writing within forty-five (45) days after the date of such damage or destruction of Landlord's estimate of the period of time required to repair and restore the Premises to tenantable condition. If such period of time exceeds one hundred and fifth (150) days, Tenant shall also have the right to terminate this Lease by written notification to Landlord of such termination within fifteen (15) days of delivery of Landlord's notice to Tenant.

Appears in 1 contract

Samples: Agreement of Lease (Softworks Inc)

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Landlord's Option Not to Restore. Notwithstanding the foregoing provisions, if there is substantial destruction of the Building, or if, in the reasonable sole judgment of Landlord, such damage cannot be repaired and the Premises cannot be made tenantable within one hundred twenty fifty (120150) days of such damage, Landlord shall have the option not to restore, and may elect to terminate this Lease by sending notice as referred to in subparagraph (c) above, without giving Tenant the right to cause the notice of termination to be withdrawn. Landlord shall notify Tenant in writing within forty-five (45) days after the date of such damage or destruction of Landlord's estimate of the period of time required to repair and restore the Premises to tenantable condition. If such period of time exceeds one hundred and fifth fifty (150) days, Tenant shall also have the right to terminate this Lease by written notification to Landlord of such termination within fifteen (15) days of delivery of Landlord's notice to Tenant.

Appears in 1 contract

Samples: Lease (Lightspan Partnership Inc)

Landlord's Option Not to Restore. Notwithstanding the foregoing provisions, if there is substantial destruction of the BuildingProperty, or if, in the reasonable judgment of Landlord’s architect, such any damage cannot be repaired and the Premises cannot be made tenantable within one hundred twenty (120) days of such damage, Landlord shall have the option not to restore, and may elect to terminate this Lease by sending a written notice as referred of such termination to in subparagraph (c) aboveTenant, without giving Tenant the right to cause the notice of to specify a termination to be withdrawndate no less than thirty (30) days after its transmission. Landlord shall notify Tenant in writing within forty-five sixty (4560) days after the date data of such damage or destruction of Landlord's such architect’s estimate of the period of time required to repair and restore the Premises to a tenantable condition. If such period of time exceeds one hundred and fifth fifty (150) days, Tenant shall also have the right to terminate this Lease by written notification to Landlord of such termination within fifteen (15) days of delivery of Landlord's ’s notice to Tenant.,

Appears in 1 contract

Samples: Lease (First Essex Bancorp Inc)

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Landlord's Option Not to Restore. Notwithstanding the foregoing provisions, if there is substantial destruction of the Building, or if, in the reasonable sole judgment of Landlord, such any damage cannot be repaired and the Premises cannot be made tenantable within one on hundred twenty fifty (120150) days of such damage, Landlord shall have the option not to restore, and may elect to terminate this Lease by sending notice as referred to in subparagraph (c) above, without giving Tenant the right to cause the notice of termination to be withdrawn. Landlord shall notify Tenant in writing within forty-five (45) days after the date of such damage or destruction of Landlord's ’s estimate of the period of time required to repair and restore the Premises to a tenantable condition. If such period of time exceeds one hundred and fifth fifty (150) days, Tenant shall also have the right to terminate this Lease by written notification to Landlord of such termination within fifteen (15) days of delivery of Landlord's ’s notice to Tenant.

Appears in 1 contract

Samples: Agreement of Lease (Oncogenex Technologies Inc)

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