Common use of Landlords Right of Termination Clause in Contracts

Landlords Right of Termination. If 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 twenty (120) days from the time that repair work would commence), or if any part of the Building is taken by any exercise of the right of eminent domain, then Landlord shall have the right to terminate this Lease (even if Landlord’s entire interest in the Premises may have been divested) by giving notice of Landlord’s election so to do within ninety (90) 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. Within ninety (90) days after the occurrence of such casualty, Landlord shall deliver to Tenant a notice (“Damage Notice”) advising Tenant of Landlord’s estimate of the time required to substantially complete Landlord’s Restoration Work (as hereinafter defined). Landlord shall only have the right to terminate this Lease in accordance with the foregoing if Landlord also terminates the leases of other tenants in the Building who are similarly affected by the fire, other casualty or taking, and in making such determination, Landlord shall be entitled to consider such factors as Landlord deems reasonably appropriate as long as they are applied to Tenant in the same manner as other tenants, including but not limited to length of term remaining on the lease, time needed to repair and restore, costs of repair and restoration not covered by insurance or condemnation proceeds, Landlord’s plans to repair and restore Common Areas serving the applicable premises, and Landlord’s plans for repair and restoration of the Building.

Landlords Right of Termination. If If, notwithstanding diligent efforts on the part of Landlord to substantially complete the Improvements and tender the Premises or the Building are substantially damaged by fire or casualty (the term “substantially damaged” meaning damage to Tenant as and when required hereunder, Landlord, for reasons of such a character that the same cannot, in the ordinary course, reasonably be expected to be repaired within one hundred twenty (120) days from the time that repair work would commence)Forces Majeures, or if any part of otherwise, is unable to substantially complete the Building is taken by any exercise of Improvements and tender the right of eminent domainPremises to Tenant on or before November 1, 1996, then Landlord shall notify Tenant in writing (such writing being referred to herein as the "Late Completion Notice") of the date upon which Landlord reasonably believes that Landlord, through diligent efforts, will substantially complete the Premises and request that Tenant make an election, within fifteen (15) days after actual receipt by Tenant of such written notice and request, to either terminate the Lease by written notice to Landlord pursuant to Section 3.3 of the Lease or agree to accept the delay damages provided in Paragraph 7 of the Construction Addendum as its sole remedy for late completion. If Tenant elects to accept the delay damages as its sole remedy for late completion, then Landlord shall substantially complete construction of the Premises by the date specified in the Late Completion Notice, and Tenant shall have no further option to terminate on the right basis of late completion unless Landlord shall fail to substantially complete the Improvements and tender the Premises to Tenant on or before the date specified in the Late Completion Notice. If Tenant shall fail to respond to the Late Completion Notice within the time period specified above, then Tenant shall be deemed to have agreed to accept delay damages as its sole remedy as described above. In addition, if Landlord, after having employed diligent efforts to do so, is unable to obtain all necessary approvals of the Final Plans and the oxygen tank to be located on the Premises, as well as all other permits, approvals and licenses relating to the construction and development of the Improvements, from all applicable governmental authorities and under applicable covenants and restrictions on or before January 1, 1996, without making substantial changes to such Final Plans, and if Tenant shall not have consented to such changes fifteen (15) days after written notice of Landlord's intention to terminate on the basis of its inability to obtain the necessary approvals and of the changes necessary to obtain approval, then Landlord, at its option, may terminate this Lease (even if Landlord’s entire interest in the Premises may have been divested) by giving written notice of Landlord’s election so to do within ninety (90) 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. Within ninety (90) days after the occurrence of such casualty, Landlord shall deliver to Tenant a notice (“Damage Notice”) advising Tenant of Landlord’s estimate of the time required to substantially complete Landlord’s Restoration Work (as hereinafter defined). Landlord shall only have the right to terminate this Lease in accordance with the foregoing if Landlord also terminates the leases of other tenants in the Building who are similarly affected by the fire, other casualty or taking, and in making such determination, Landlord shall be entitled to consider such factors as Landlord deems reasonably appropriate as long as they are applied to Tenant in the same manner as other tenants, including but not limited to length of term remaining on the lease, time needed to repair and restore, costs of repair and restoration not covered by insurance or condemnation proceeds, Landlord’s plans to repair and restore Common Areas serving the applicable premises, and Landlord’s plans for repair and restoration of the BuildingTenant.

Landlords Right of Termination. (a) If (a) the Premises or the Building are substantially damaged by fire or other casualty or by action of public or other authority in consequence thereof (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 twenty sixty (12060) days from the time that repair work would commence), or (b) any mortgagee then holding a mortgage on the Property, or on any interest of Landlord therein, should require that insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or (c) a material uninsured fire or other casualty or loss to the Building should occur or (d) if any part of the Building is taken by any exercise of the right of eminent domaindomain or should be sold in lieu thereof or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, then Landlord shall have the right to terminate this Lease (even if Landlord’s entire interest in the Premises may have been divested) by giving notice of Landlord’s election so to do within ninety (90) 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. Within ninety . (90b) days after In the occurrence event Landlord’s mortgagee shall advise Landlord that such Mortgagee will not allow insurance proceeds to be used for restoration and in the event that Landlord is unwilling to provide any additional funds necessary to effect a complete restoration of such casualtythe Premises, then Landlord shall deliver to give Tenant a notice (“Damage Notice”) advising Tenant of Landlord’s estimate of the time required to substantially complete Landlord’s Restoration Work (as hereinafter defined). Landlord same and Tenant shall only have the right to terminate this Lease in accordance with within five (5) days after the foregoing date of such notice, such termination to be effective upon the giving of such notice as if Landlord also terminates the leases date of other tenants in such notice were the Building who are similarly affected by the fire, other casualty or taking, and in making such determination, Landlord shall be entitled to consider such factors as Landlord deems reasonably appropriate as long as they are applied to Tenant in the same manner as other tenants, including but not limited to length date of term remaining on the lease, time needed to repair and restore, costs of repair and restoration not covered by insurance or condemnation proceeds, Landlord’s plans to repair and restore Common Areas serving the applicable premises, and Landlord’s plans for repair and restoration expiration of the BuildingTerm of this Lease.

Landlords Right of Termination. If the Premises or more than twenty percent (20%) of the Building are substantially shall be 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 twenty (120) days from the time that repair work would commence), or if any part of the Building is taken by any exercise of the right of eminent domainother casualty, then in such event Landlord shall have the right to may, at its option, terminate this Lease (even if Landlord’s entire interest provided that Landlord simultaneously terminates all similarly -situated leases in the Premises may have been divestedBuilding) by giving Tenant not less than thirty (30) days’ notice of Landlord’s election so to do such termination, which notice shall be given within ninety sixty (9060) days after the occurrence of such casualty or the effective date of such takingdamage. In the event that such notice of termination shall be given, whereupon (a) this Lease shall terminate as of the date thirty (30) days after the date giving of such the notice of termination (whether or not the Term shall have commenced) with the same force and effect as if such date that were the Expiration Date, and subject to Section 12.06 below, (b) the Fixed Rent and Additional Rent shall be apportioned as of the date originally established of damage or destruction, and (c) any prepaid portion of Fixed and Additional Rent shall be abated as of the expiration date hereofof damage or destruction and shall be promptly refunded by Landlord to Tenant. Within ninety If, at any time prior to Landlord giving Tenant the aforesaid notice of termination or commencing the repair and restoration pursuant to Section 12.02, the holder of a Superior Mortgage takes possession of the Building through foreclosure or otherwise, such holder or party shall have a further period of thirty (9030) days after from the occurrence date of such casualty, Landlord shall deliver to Tenant a notice (“Damage Notice”) advising Tenant of Landlord’s estimate of the time required to substantially complete Landlord’s Restoration Work (as hereinafter defined). Landlord shall only have the right so taking possession to terminate this Lease, under the same terms and conditions as set forth in this Section 12.03, by thirty (30) days written notice of termination. If such notice shall be given, this Lease shall terminate as of the date provided in accordance such thirty (30) days’ notice of termination (whether or not the Term shall have commenced) with the foregoing same effect as if Landlord also terminates that were the leases of other tenants in Expiration Date, and, subject to Section 12.06 below, the Building who are similarly affected by the fire, other casualty or taking, Fixed Rent and in making such determination, Landlord Additional Rent shall be entitled to consider such factors abated as Landlord deems reasonably appropriate as long as they are applied to Tenant in the same manner as other tenants, including but not limited to length of term remaining on the lease, time needed to repair and restore, costs of repair and restoration not covered by insurance or condemnation proceeds, Landlord’s plans to repair and restore Common Areas serving the applicable premises, and Landlord’s plans for repair and restoration of the Buildingdate of damage or destruction and any prepaid portion of Fixed Rent and Additional Rent for any period after such date (and the Security Deposit, if and to the extent applicable) shall be refunded by Landlord to Tenant.

Landlords Right of Termination. In case during the term hereof the Leased Premises or the Building shall be partially damaged (as distinguished from "substantially damaged," as that term is hereinafter defined) by fire or other casualty, Landlord shall forthwith proceed to repair such damage and restore the Leased Premises, or so much thereof as was originally constructed by Landlord, to substantially their condition at the time of such damage, (subject, however, to zoning laws and building codes then in existence), but Landlord shall not be responsible for any delay which may result from any cause beyond Landlord's reasonable control. If the Leased Premises or the Building are partially damaged, Landlord's repairs must be substantially completed within sixty (60) days from the date the damage occurred. If the Premises or the Building are substantially damaged by fire or casualty (the term “"substantially damaged” " meaning damage damaged of such a character that the same cannot, in the ordinary course, reasonably be expected to be repaired within one hundred twenty sixty (12060) days from the time that repair work would commence), or if any part of the Building is taken by any exercise of the right of eminent eminent) domain, then Landlord and Tenant shall have the right to terminate this Lease (even if the Landlord’s 's entire interest in the Premises may have been divested) by giving notice of Landlord’s election so to do within ninety (90) days after the occurrence of such casualty or the effective date of such takingdo, whereupon this Lease shall terminate thirty (30) days after as of 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. Within ninety If this Lease is not terminated as hereinbefore provided, Landlord shall commence restoration not later than thirty (9030) days after the occurrence of such casualtydamage by fire or casualty or condemnation, but if Landlord shall deliver to Tenant a notice (“Damage Notice”) advising Tenant of Landlord’s estimate of the time required to not substantially complete Landlord’s Restoration Work said restoration within ninety (as hereinafter defined). Landlord 90) days following the commencement of restoration, Tenant shall only have the right to then terminate this Lease without liability or penalty for same by giving written notice to Landlord of its intent to do so, whereupon this Lease shall terminate as of the date of such notice and be of no further force and effect, except Tenant shall remain liable and promptly pay to Landlord any rent or other charges then in accordance with the foregoing if Landlord also terminates the leases of other tenants arrears. Further, in the Building who are similarly affected by the fire, other casualty or taking, and in making such determinationevent this Lease is not terminated as hereinbefore provided, Landlord shall only be entitled to consider such factors as Landlord deems reasonably appropriate as long as they are applied to Tenant in the same manner as other tenants, including but not limited to length of term remaining on the lease, time needed required to repair and restore, costs of repair and restoration not covered by insurance or condemnation proceeds, Landlord’s plans to repair and restore Common Areas serving the applicable premises, and Landlord’s plans for repair and restoration so much of the BuildingPremises originally constructed by Landlord to substantially their condition at the time of such damage (subject, however, to zoning and building laws and codes then in existence); and Landlord shall not be responsible for any delay which may result from any cause beyond Landlord's reasonable control. Landlord's obligations hereunder shall in no event include Tenant's fixtures, furnishings or equipment and Tenant shall at its own expense, proceeding with all reasonable diligence, repair, or replace such of its fixtures, furnishings and equipment as may have been damaged or destroyed.

Landlords Right of Termination. If more than thirty-five percent (35%) of either the Premises Pavilion Building or the Tower Building are substantially (the Building so damaged, the "Damaged Building") shall be 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 twenty (120) days from the time that repair work would commence), or if any part of the Building is taken by any exercise of the right of eminent domainother casualty, then in such event Landlord shall have the right to may, at its option, terminate this Lease (even if Landlord’s entire interest in as to the Premises may have been divested) Damaged Building by giving Tenant not less than thirty (30) days' notice of Landlord’s election so to do such termination, which notice shall be given within ninety (90) days after the occurrence of such casualty or the effective date of such takingdamage. In the event that such notice of termination shall be given, whereupon (a) this Lease shall terminate thirty (30) days after as to the Damaged Building as of 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. Within ninety (90) days after the occurrence of such casualty, Landlord shall deliver to Tenant a notice (“Damage Notice”) advising Tenant of Landlord’s estimate giving of the notice of termination (whether or not the Term shall have commenced) with the same effect as if that were the Expiration Date, and subject to Section 12.06 below, (b) the applicable Fixed Rent and Additional Rent shall be apportioned as of the date of damage or destruction, and (c) any prepaid portion of applicable Fixed and Additional Rent shall be abated as of the date of damage or destruction and shall be promptly refunded by Landlord to Tenant. If, at any time required prior to substantially complete Landlord’s Restoration Work Landlord giving Tenant the aforesaid notice of termination or commencing the repair and restoration pursuant to Section 12.02, the holder of a Superior Mortgage takes possession of the Damaged Building through foreclosure or otherwise, such holder or party shall have a further period of thirty (as hereinafter defined). Landlord shall only have 30) days from the right date of so taking possession to terminate this Lease, under the same terms and conditions as set forth in this Section 12.03, by thirty (30) days written notice of termination. If such notice shall be given, this Lease in accordance shall terminate as of the date provided ninety (90) days after the giving of the notice of termination (whether or not the Term shall have commenced) with the foregoing same effect as if Landlord also terminates that were the leases of other tenants in Expiration Date, and, subject to Section 12.06 below, the Building who are similarly affected by the fire, other casualty or taking, Fixed Rent and in making such determination, Landlord Additional Rent shall be entitled to consider such factors abated as Landlord deems reasonably appropriate as long as they are applied to Tenant in the same manner as other tenants, including but not limited to length of term remaining on the lease, time needed to repair and restore, costs of repair and restoration not covered by insurance or condemnation proceeds, Landlord’s plans to repair and restore Common Areas serving the applicable premises, and Landlord’s plans for repair and restoration of the Building.date of damage or destruction and any prepaid portion of Fixed Rent and Additional Rent for any period after such date shall be refunded by Landlord to Tenant. 51

Landlords Right of Termination. (a) If (a) the Premises or the Building are substantially damaged by fire or other casualty or by action of public or other authority in consequence thereof (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 twenty sixty (12060) days from the time that repair work would commence), or (b) any mortgagee then holding a mortgage on the Property, or on any interest of Landlord therein, should require that insurance proceeds payable as a result of a casualty be applied to the payment of the mortgage debt or (c) a material uninsured fire or other casualty or loss to the Building should occur or (d) if any part of the Building is taken by any exercise of the right of eminent domaindomain or should be sold in lieu thereof or Landlord receives compensable damage by reason of anything lawfully done in pursuance of public or other authority, then Landlord shall have the right to terminate this Lease (even if Landlord’s 's entire interest in the Premises may have been divested) by giving notice of Landlord’s 's election so to do within ninety (90) 90 days after the occurrence of such casualty or the effective date of such taking, whereupon this Lease shall terminate thirty (30) 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. Within ninety . (90b) days after In the occurrence event Landlord's mortgagee shall advise Landlord that such Mortgagee will not allow insurance proceeds to be used for restoration and in the event that Landlord is unwilling to provide any additional funds necessary to effect a complete restoration of such casualtythe Premises, then Landlord shall deliver to give Tenant a notice (“Damage Notice”) advising Tenant of Landlord’s estimate of the time required to substantially complete Landlord’s Restoration Work (as hereinafter defined). Landlord same and Tenant shall only have the right to terminate this Lease in accordance with within 5 days after the foregoing date of such notice, such termination to be effective upon the giving of such notice as if Landlord also terminates the leases date of other tenants in such notice were the Building who are similarly affected by the fire, other casualty or taking, and in making such determination, Landlord shall be entitled to consider such factors as Landlord deems reasonably appropriate as long as they are applied to Tenant in the same manner as other tenants, including but not limited to length date of term remaining on the lease, time needed to repair and restore, costs of repair and restoration not covered by insurance or condemnation proceeds, Landlord’s plans to repair and restore Common Areas serving the applicable premises, and Landlord’s plans for repair and restoration expiration of the BuildingTerm of this Lease.