Common use of Landlords Right of Termination Clause in Contracts

Landlords Right of Termination. Within sixty (60) days after damage by fire or other casualty, Landlord shall provide Tenant with a good faith estimate of the time to restore the Premises and/or Building. 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 sixty (60) 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, provided that if the Premises are not damaged and the Premises need not be vacant for Landlord to restore the damaged portion(s) of the Building, then such termination right shall be available only if all other leases in the Building are also terminated.

Landlords Right of Termination. Within sixty (60) days after damage by fire or other casualty, Landlord shall provide Tenant with a good faith estimate of the time to restore the Premises and/or Building. 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 two hundred twenty ten (120210) days from the time that repair work would commence, as determined in good faith by Landlord's architect) by fire or other casualty (each, a “Casualty”), 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 sixty ninety (6090) days after the occurrence of such casualty or the effective date Casualty provided, however, that Landlord shall only be permitted to terminate this Lease on account of such takingdamage if Landlord terminates the leases of at least 75% of the office tenants in the Building similarly affected by the casualty (where Landlord has a termination right thereunder). If Landlord exercises such termination right, 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. In no event shall Landlord have any liability for damages to Tenant for inconvenience, provided that if the Premises are not damaged and the Premises need not be vacant for Landlord to restore the damaged portion(s) annoyance or interruption of the Building, then such termination right shall be available only if all other leases in the Building are also terminatedbusiness arising from any Casualty.

Landlords Right of Termination. Within sixty (60) days after damage by fire or other casualty, Landlord shall provide Tenant with a good faith estimate of the time to restore the Premises and/or Building. 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 's entire interest in the Premises may have been divested) by giving notice of Landlord’s 's election so to do within sixty (60) 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, provided that if the Premises are not damaged and the Premises need not be vacant for Landlord to restore the damaged portion(s) of the Building, then such termination right shall be available only if all other leases in the Building are also terminated.

Landlords Right of Termination. Within sixty If (60i) days after damage by fire or other casualty, Landlord shall provide Tenant with a good faith estimate substantial part of the time to restore Premises, or (ii) a substantial part of the Premises and/or Building. If the Premises Property is (or the Building are 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 twelve (12012) days months from the time that commencement of the repair work would commenceor restoration thereof (as determined by a contractor selected by Landlord in its reasonable discretion)), or if any part of the Building Property 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 sixty ninety (6090) 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, provided that if the Premises are not damaged and or taken, Landlord may not terminate this Lease unless Landlord similarly terminates the leases of other tenants in the respective Building aggregating at least 50% of the portion of the respective Building occupied for office purposes immediately prior to such damage or taking. If this Lease is so terminated, (a) the Term shall expire upon the 30th day after such notice is given by Landlord, (b) Tenant shall vacate the Premises need not and surrender the same to Landlord, (c) Tenant’s liability for Rent shall cease as of the date of the damage or taking, and (d) any prepaid Rent for any period after the date of the damage shall be vacant for refunded by Landlord to restore the damaged portion(s) of the Building, then such termination right shall be available only if all other leases in the Building are also terminatedTenant.

Landlords Right of Termination. Within sixty If (60a) days after damage by fire or other casualty, Landlord shall provide Tenant with a good faith estimate of the time to restore the Premises and/or Building. If the Premises or the ------------------------------------------------ Building are substantially damaged by fire or other casualty (the term “"substantially damaged” " meaning damage of such a character that the same cannot, in the ordinary course, not reasonably be expected to be repaired within one hundred twenty sixty (12060) days from the time that repair work would commence), or (b) following a fire or other casualty, 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 such that Landlord will not receive sufficient proceeds to repair the damage, 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 condemnation or any exercise of the right of eminent domain, then then, in any such event, Landlord shall have the right may elect 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 sixty ninety (6090) days after the occurrence of such fire or casualty or the effective date of such condemnation or taking, whereupon this Lease shall terminate thirty (30) days after the date of such notice notice, with the same force and effect as if such date were the date originally established as the expiration date hereof, provided that if the Premises are not damaged and the Premises need not be vacant for Landlord to restore the damaged portion(s) of the Building, then such termination right shall be available only if all other leases in the Building are also terminated.