Common use of Landlords Right of Termination Clause in Contracts

Landlords Right of Termination. If (i) the Premises or the Building are substantially damaged by fire or casualty (the term "substantially damaged" meaning damage of such a character that the same cannot, in ordinary course, reasonably be expected to be repaired within one hundred eighty (180) days from the time the repair work would commence), or (ii) if any part of the Building is taken by any exercise of the right of eminent domain, or (iii) any mortgagee then holding a mortgage on the Property or on any interest of Landlord therein should require that insurance proceeds or awards payable as the result of any fire, casualty or taking be applied toward the applicable mortgage debt rather than to restoration of the Building, then Landlord shall have the right to terminate this Lease (even if Landlord's entire interest in the Leased Premises may have been divested) by giving notice of Landlord's election so to do within forty five (45) days after the occurrence of such casualty or the effective date of such taking, whereupon this Lease shall terminate thirty (30) days after the date of such notice with the same force and effect as if such date were the date originally established as the expiration date hereof.

Landlords Right of Termination. If (ia) the Premises or the Building are substantially damaged by fire or casualty (the term "“substantially damaged" ” meaning damage of such a character that the same cannot, in the ordinary course, reasonably be expected to be repaired within one hundred eighty sixty (18060) days from the time the that repair work would commence), or (iib) if any the Premises or Building are damaged and all or a portion of such damage is uninsured, or (c) part of the Building or the Property is taken by any exercise of the right of eminent domain, or (iii) any mortgagee then holding a mortgage on the Property or on any interest of Landlord therein should require that insurance proceeds or awards payable as the result of any fire, casualty or taking be applied toward the applicable mortgage debt rather than to restoration of the Building, then Landlord shall have the right to terminate this Lease (even if Landlord's ’s entire interest in the Leased Premises may have been divested) by giving notice to Tenant of Landlord's ’s election so to do within forty five ninety (4590) days after the occurrence of such casualty or the effective date of such taking, whereupon this Lease shall terminate on the earlier of (a) thirty (30) days after the date of such notice or (b) the effective date of such taking with the same force and effect as if such date were the date originally established as the expiration date hereof.

Landlords Right of Termination. If (ia) the Premises or the Building are substantially damaged by fire or casualty (the term "“substantially damaged" ” meaning damage of such a character that the same cannot, in the ordinary course, reasonably be expected to be repaired within one hundred eighty sixty (18060) days from the time the that repair work would commence), or (iib) if any the Premises or Building are damaged and all or a portion of such damage is uninsured, or (c) part of the Building or the Property is taken by any exercise of the right of eminent domain, or (iii) any mortgagee then holding a mortgage on the Property or on any interest of Landlord therein should require that insurance proceeds or awards payable as the result of any fire, casualty or taking be applied toward the applicable mortgage debt rather than to restoration of the Building, then Landlord shall have the right to terminate this Lease (even if Landlord's ’s entire interest in the Leased Premises may have been divested) by giving notice to Tenant of Landlord's ’s election so to do within forty five ninety (4590) days after the occurrence of such casualty or the effective date of such taking, whereupon this Lease shall terminate on the earlier of (i) thirty (30) days after the date of such notice or (ii) the effective date of such taking with the same force and effect as if such date were the date originally established as the expiration date hereof.

Landlords Right of Termination. If (ia) the Premises or the Building are substantially damaged by fire or casualty in such a way that directly impacts the Tenant (the term "“substantially damaged" ” meaning damage of such a character that the same cannot, in the ordinary course, reasonably be expected to be repaired within one hundred eighty sixty (18060) days from the time the that repair work would commence), or (iib) if any part of the Building or the Property is taken by any exercise of the right of eminent domain, or (iii) any mortgagee then holding a mortgage on the Property or on any interest of Landlord therein should require that insurance proceeds or awards payable as the result of any fire, casualty or taking be applied toward the applicable mortgage debt rather than to restoration of the Building, then Landlord or Tenant at their mutual independent option shall have the right to terminate this Lease (even if Landlord's ’s entire interest in the Leased Premises may have been divested) by giving notice to the other Party of Landlord's the Party’s election so to do within forty five sixty (4560) days after the occurrence of such casualty or the effective date of such taking, whereupon this Lease shall terminate thirty on the earlier of (30a) forty-five (45) days after the date of such notice or (b) the effective date of such taking with the same force and effect as if such date were the date originally established as the expiration date hereof.

Landlords Right of Termination. If (ia) the Premises or the Building are substantially damaged by fire or casualty (the term "“substantially damaged" ” meaning damage of such a character that the same cannot, in the ordinary course, reasonably be expected to be repaired within one hundred eighty (180) 180 days from the time the that repair work would commence), or (iib) if any the Premises or Building are damaged and all or a portion of such damage is uninsured and Landlord will not fund the cost of restoration, or (c) part of the Building or the Property is taken by any exercise of the right of eminent domain, or (iii) any mortgagee then holding a mortgage on the Property or on any interest each of Landlord therein should require that insurance proceeds or awards payable as the result of any fire, casualty or taking be applied toward the applicable mortgage debt rather than to restoration of the Building, then Tenant and Landlord shall have the right to terminate this Lease (even if Landlord's ’s entire interest in the Leased Premises may have been divested) by giving notice to the other of Landlord's its election so to do within forty five (45) 200 days after the occurrence of such casualty or the effective date of such taking, whereupon this Lease shall terminate on the earlier of (a) thirty (30) days after the date of such notice or (b) the effective date of such taking with the same force and effect as if such date were the date originally established as the expiration date hereof.

Landlords Right of Termination. If (ia) the Premises or the any Building are is substantially damaged by fire or casualty (the term "“substantially damaged" ” meaning damage of such a character that the same cannot, in the ordinary course, reasonably be expected to be repaired within one hundred eighty nine (1809) days months from the time the that repair work would commence), or (iib) if the Premises or any Building is damaged and all or a portion of such damage is uninsured, or (c) part of any Building or the Building Property is taken by any exercise of the right of eminent domain, or (iii) any mortgagee then holding a mortgage on the Property or on any interest of Landlord therein should require that insurance proceeds or awards payable as the result of any fire, casualty or taking be applied toward the applicable mortgage debt rather than to restoration of the Building, then Landlord shall have the right to terminate this Lease (even if Landlord's ’s entire interest in the Leased Premises may have been divested) by giving notice to Tenant of Landlord's ’s election so to do within forty five ninety (4590) days after the occurrence of such casualty or the effective date of such taking, whereupon this Lease shall terminate on the earlier of (a) thirty (30) days after the date of such notice or (b) the effective date of such taking with the same force and effect as if such date were the date originally established as the expiration date hereof.