Common use of Landlord’s Termination Option Clause in Contracts

Landlord’s Termination Option. Anything in subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, and if Landlord shall decide not to restore the Premises, or if the Building shall be so damaged by fire or other casualty that, in Landlord's opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) or the Building, after its proposed repair, alteration or restoration shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord's option, may, not later than ninety (90) days following the damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any damage shall occur to the Premises or the Building during the last two (2) years of the Term, Landlord shall have the option to terminate this Lease by thirty (30) days prior written notice to Tenant and (ii) Landlord shall not be obligated to repair or restore the Premises or the Building if a holder of a mortgage or underlying leasehold applies proceeds of insurance to the loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord elects to terminate this Lease, the Term shall expire upon the tenth (10th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. If Tenant shall not be in default under this Lease, then upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant's liability for Rent thereafter accruing shall cease as of the day following such damage.

Landlord’s Termination Option. Anything in subsection A of this Article 10 Notwithstanding anything to the contrary notwithstandingcontained in the Lease, if the Premises are totally damaged or are rendered wholly untenantableas amended, and if Landlord shall decide provided that Specialty Laboratories has not become the tenant of Suite 500 pursuant to restore the Premisesterms of Section 8.2, or if the Building shall be so damaged by fire or other casualty thatabove, in Landlord's opinion, either substantial alteration, demolition or reconstruction effective as of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) or the Building, after its proposed repair, alteration or restoration shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord's option, may, not later than ninety (90) days following the damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any damage shall occur to the Premises or the Building during the last two (2) years commencement of the forty-first (41st) month of the Extended Term and continuing throughout the remainder of the Extended Term, Landlord shall have the option in its sole and absolute discretion to deliver written notice (the "Termination Notice") to Tenant electing to terminate this Lease by thirty and cancel the Lease, as amended, with respect to Suite 500, effective as of the date (30the "Termination Date") days prior written notice to Tenant and set forth in the Termination Notice (ii) Landlord which date shall not be obligated earlier than the last day of the fifty-third (53rd) month of the Extended Term), provided that Landlord delivers the Termination Notice to repair Tenant on or restore before the Premises or the Building if a holder of a mortgage or underlying leasehold applies proceeds of insurance date which is at least twelve (12) months prior to the loan or lease payment balance, and Termination Date. In the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If event that Landlord elects to terminate this the Lease, as amended, pursuant to the Term terms of this Section 13, the Lease, as amended, with respect to Suite 500, shall expire at midnight on the Termination Date, and upon the tenth (10th) day after such notice is givendate, Tenant shall vacate and surrender possession of Suite 500 to Landlord, and Landlord and Tenant shall vacate thereafter be relieved of their respective obligations under the Premises and surrender the same to Landlord. If Tenant shall not be in default under this Lease, then upon as amended, with respect to Suite 500, except those obligations which specifically survive the termination of this Lease the Lease, as amended, including, without limitation, the payment by Tenant of all amounts owed by Tenant under the conditions provided for in Lease, as amended, with respect to Suite 500, up to and including the next preceding sentence, Tenant's liability for Rent thereafter accruing shall cease as of the day following such damageTermination Date.

Landlord’s Termination Option. Anything in subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, and if Landlord shall decide not to restore the Premises, or if the Building shall be so damaged by fire or other casualty that, in Landlord's opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) or the Building, after its proposed repair, alteration or restoration shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord's option, may, not later than ninety (90) days following the damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any substantial damage shall occur to the Premises or the Building Building, in Landlord's sole but reasonable judgement, during the last two (2) years of the Term, Landlord shall have the option to terminate this Lease by thirty (30) days prior written notice to Tenant and (ii) Landlord shall not be obligated to repair or restore the Premises or the Building if a holder of a mortgage or underlying leasehold applies proceeds of insurance to the loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord elects to terminate this Lease, the Term shall expire upon the tenth (10th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. If Tenant shall not be in default under this Lease, then upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant's liability for Rent thereafter accruing shall cease as of the day following such damage.

Landlord’s Termination Option. Anything in subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, and if Landlord shall decide not to restore the Premises, or if the Building shall be so damaged by fire or other casualty that, in Landlord's ’s opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) ), or if the Building, after its proposed repair, alteration or restoration restoration, shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord's ’s option, may, not later than ninety (90) days following the damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any damage shall occur to the Premises or the Building during the last two one (21) years year of the Term, Landlord shall have the option to terminate this Lease by thirty upon not less than sixty (3060) days prior written notice to Tenant and (ii) Landlord shall not be obligated to repair or restore the Premises or the Building if a holder of a mortgage or underlying leasehold applies proceeds of insurance to the loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord elects to terminate this Lease, the Term shall expire upon the tenth (10th) day after date set forth in such notice is givennotice, and Tenant shall vacate the Premises and surrender the same to Landlord without prejudice however, to Landlord. If ’s rights and remedies against Tenant shall not be in default under this Lease, then upon Lease in effect prior to such termination and any Rent owing shall be paid up to such date and any payments of Rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant's ’s liability for Rent thereafter accruing shall cease as of the day following such damage.

Landlord’s Termination Option. Anything in subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, and if Landlord shall decide not to restore the Premises, or if the Building shall be so damaged by fire or other casualty that, in Landlord's opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) or the Building, after its proposed repair, alteration or restoration shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord's option, may, not later than ninety (90) days following the damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any damage shall occur to the Premises or the Building during the last two (2) years year of the Term, Landlord shall have the option to terminate this Lease by thirty (30) days prior written notice to Tenant and in such event this Lease shall terminate on the later of the date of the notice of termination or the date Tenant vacates the Premises and removes all of its property therefrom and (ii) Landlord shall not be obligated to repair or restore the Premises or the Building if a holder of a mortgage or underlying leasehold applies proceeds of insurance to the loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord elects to terminate this Lease, the Term shall expire upon the tenth thirtieth (10th30th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. If Tenant shall not be in default under this Lease, then upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant's liability for Rent thereafter accruing shall cease as of the day following such damage.

Landlord’s Termination Option. Anything in subsection Subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, and if Landlord shall decide not to restore the Premises, or if the Building shall be so damaged by fire fire, or other casualty that, in Landlord's opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) or the Building, after its proposed repair, alteration or restoration shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord's option, may, not later than ninety (90) days following the damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any damage shall occur to the Premises or the Building during the last two (2) years of the Term, Landlord shall have the option to terminate this Lease by thirty (30) days prior written notice to Tenant and (ii) Landlord shall not be obligated to repair or restore the Premises or the Building if a holder of a mortgage or underlying leasehold applies proceeds of insurance to the loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord elects to terminate this Lease, the Term shall expire upon the tenth (10th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. If Tenant shall not be in default under this Lease, then upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant's liability for Rent thereafter accruing shall cease as of the day following such damage.

Landlord’s Termination Option. Anything in subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, and if Landlord shall decide not to restore the Premises, or if the Building shall be so damaged by fire or other casualty that, in Landlord's ’s opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) ), or if the Building, after its proposed repair, alteration or restoration restoration, shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord's ’s option, may, not later than ninety sixty (9060) days following the such damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any damage shall occur to the Premises or the Building during the last two (2) years of the Term, Landlord or Tenant shall have the option to terminate this Lease by thirty upon not less than sixty (3060) days prior written notice to Tenant and the other party or (ii) Landlord shall not be obligated to repair or restore if the Premises or the Building if a holder of a mortgage or underlying leasehold Mortgage applies the proceeds of insurance to the loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord elects this Lease is terminated pursuant to terminate the provisions of this Leasesubsection B, the Term shall expire upon the tenth (10th) day after date set forth in such notice is givennotice, and Tenant shall vacate the Premises and surrender the same to Landlord without prejudice however, to Landlord. If ’s rights and remedies against Tenant shall not be in default under this Lease, then upon Lease in effect prior to such fire or other casualty and any Rent owing shall be paid up to such date and any payments of Rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant's ’s liability for Rent thereafter accruing shall cease as of the day following such damage.

Landlord’s Termination Option. Anything in subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, and if Landlord shall decide not to restore the Premises, or if the Building shall be so damaged by fire or other casualty that, in Landlord's ’s opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) or the Building, after its proposed repair, alteration or restoration shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord's ’s option, may, not later than ninety (90) days following the damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any damage shall occur to the Premises or the Building during the last two (2) years of the Term, Landlord shall have the option to terminate this Lease by thirty (30) days prior written notice to Tenant and (ii) Landlord shall not be obligated to repair or restore the Premises or the Building if a holder of a mortgage or underlying leasehold applies proceeds of insurance to the loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord elects to terminate this Lease, the Term shall expire upon the tenth (10th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. If Tenant shall not be in default under this Lease, then upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant's ’s liability for Rent thereafter accruing shall cease as of the day following such damage.

Landlord’s Termination Option. Anything in subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, and if Landlord shall decide not to restore the Premises, or if the Building shall be so damaged by fire or other casualty that, in Landlord's opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) ), or if the Building, after its proposed repair, alteration or restoration restoration, shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord's option, may, not later than ninety sixty (9060) days following the such damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any damage shall occur to the Premises or the Building during the last two (2) years of the Term, Landlord or Tenant shall have the option to terminate this Lease by thirty upon not less than sixty (3060) days prior written notice to Tenant and the other party or (ii) Landlord shall not be obligated to repair or restore if the Premises or the Building if a holder of a mortgage or underlying leasehold Mortgage applies the proceeds of insurance to the loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord elects this Lease is terminated pursuant to terminate the provisions of this Leasesubsection B, the Term shall expire upon the tenth (10th) day after date set forth in such notice is givennotice, and Tenant shall vacate the Premises and surrender the same to Landlord without prejudice however, to Landlord. If ’s rights and remedies against Tenant shall not be in default under this Lease, then upon Lease in effect prior to such fire or other casualty and any Rent owing shall be paid up to such date and any payments of Rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant's liability for Rent thereafter accruing shall cease as of the day following such damage.