Landlord’s Termination Rights. Landlord may terminate this Lease upon thirty (30) days’ prior written notice to Tenant if:
(i) any material portion of the Building or any material means of access thereto is taken;
(ii) more than thirty-five percent (35%) of the Building is damaged by Casualty; or
(iii) if the estimated time to complete restoration exceeds one (1) year from the date on which Landlord receives all required permits for such restoration.
Landlord’s Termination Rights. If all or any part of the Premises is damaged by fire or other casualty, Tenant shall immediately notify Landlord in writing. During any period of time that all or a material portion of the Premises is rendered untenantable as a result of a fire or other casualty, the Rent shall xxxxx for the portion of the Premises that is untenantable and not used by Tenant. Landlord shall have the right to terminate this Lease if:
a. the Building or any part of Xxxxxxxx Center shall be damaged so that substantial alteration or reconstruction of the Building or other part of Xxxxxxxx Center shall be required (whether or not the Premises has been damaged);
b. Landlord is not permitted by Law to rebuild the Building or any other building in Xxxxxxxx Center so damaged in substantially the same form as existed before the fire or casualty;
c. the Premises have been materially damaged and there is less than 2 years of the Term remaining on the date of the casualty (excluding any unexercised options to extend); or any Mortgagee requires that insurance proceeds be applied to the payment of the mortgage debt. Landlord may exercise its right to terminate this Lease by notifying Tenant in writing within 60 days after the date of the casualty. If Landlord does not terminate this Lease, Landlord shall commence and proceed with reasonable diligence to repair and restore the Building and the Leasehold Improvements to the extent covered by Landlord's insurance (excluding any Alterations that were performed by Tenant in violation of this Lease); provided that, if Landlord has reasonably determined the casualty was if the fire or casualty was caused by the negligence or intentional misconduct of Tenant, Tenant Related Parties or any of Tenant's transferees, contractors or licensees or invitees, Landlord's restoration of Leasehold Improvements may be conditioned upon receipt from Tenant of payment of any deductible. However, in no event shall Landlord be required to spend more than the insurance proceeds received by Landlord. Landlord shall not be liable for any loss or damage to Tenant's Property or to the business of Tenant resulting in any way from the fire or other casualty or from the repair and restoration of the damage. Landlord and Tenant hereby waive the provisions of any Law relating to the matters addressed in this Article, and agree that their respective rights for damage to or destruction of the Premises shall be those specifically provided in this Lease.
Landlord’s Termination Rights. In the event of any of the following circumstances, Landlord may elect either to terminate this Lease or to perform the Restoration, as more particularly described in Paragraph 19(c) below:
(I) If the Casualty occurs during Lease Years 1 through 12 and the Restoration cannot, in Landlord's good faith judgment, be completed within eighteen (18) months following the date of the Casualty (when such Restoration is made without the payment of overtime or other premiums), or
(II) If the Casualty occurs during Lease Year 13 and Restoration cannot, in Landlord's good faith judgment, be completed within one hundred eighty (180) days following the date of the Casualty (when such Restoration is made without the payment of overtime or other premiums), or
(III) If the Casualty occurs during Lease Year 14 and Restoration cannot, in Landlord's good faith judgment, be completed within ninety (90) days following the date of the Casualty (when such Restoration is made without payment of overtime or other premiums), or
(IV) If the Casualty occurs during Lease Year 15 and Restoration cannot, in Landlord's good faith judgment, be completed within thirty (30) days following the date of the Casualty (when Restoration is made without payment of overtime in other premiums), or
(V) If the Casualty is uninsured (a Casualty shall not be deemed uninsured by reason of a deductible amount under the applicable insurance policy), or
(VI) If insurance proceeds sufficient to complete the Restoration are not available due to the exercise of rights of any Holder to collect such proceeds, or
(VII) If governmental approval cannot reasonably be obtained to perform the Restoration, or if Restoration of the Building cannot be completed except in a substantially different structural or architectural form than existed before the Casualty.
Landlord’s Termination Rights. Landlord may terminate this Lease upon thirty (30) days’ prior written notice to Tenant if: (i) any material portion of the Building or all reasonable means of access thereto is taken; (ii) more than thirty-five percent (35%) of the Building is damaged by Casualty; (iii) if the estimated time to complete restoration, as provided to Tenant by Landlord within ninety (90) days following the occurrence of such Casualty (based on a good faith estimate by a qualified general contractor), exceeds twelve (12) months from the date of Casualty; or (iv) if the estimated cost of Landlord’s restoration obligations exceeds the amount of the insurance proceeds released by Landlord’s Mortgagee for such purpose by more than $1,000,000. Landlord shall not exercise its termination rights pursuant to this Section 15.2(a) unless Landlord is terminating the leases of all tenants at the Building.
Landlord’s Termination Rights. (a) If the Project or any portion thereof is substantially damaged by a fire, storm, wind, water, any act of nature or God, or any other matter beyond the control of Landlord (a "Casualty") not required to be insured against by Landlord hereunder or if the Project or any portion thereof is substantially damaged by Casualty required to be insured against by Landlord but the insurance company is insolvent and financially unable to pay the proceeds which are due (through no fault of Landlord), Landlord shall have the right to terminate this Lease by notice to Tenant given within ninety (90) days after the date of such Casualty (the "Damage Date"), provided, however, Landlord will not terminate this Lease pursuant to this subparagraph (a) unless Landlord terminates the leases of all tenants of the Building whose premises (or access thereto) are similarly affected by such Casualty. As used in this Article, the term "substantially damaged" shall mean such damage that the cost of repair and restoration thereof is reasonably estimated by Landlord's architect to exceed Five Million Dollars ($5,000,000).
Landlord’s Termination Rights. In the event Landlord should sell its interest in the building, and the purchaser does not desire to assume Tenants Lease, either Landlord or the purchaser may, upon six (6) months prior written notice to Tenant, elect to terminate the Lease notwithstanding the date of expiration of the Lease. Additionally, in the event Landlord should, in the exercise of its sole and absolute discretion, determine to close the building, Tenant agrees that Landlord may do so upon six (6) months prior written notice. All obligations of Tenant with respect to the surrender of the Premises shall apply in the event of the exercise of this early termination right. Landlord: Tenant:
Landlord’s Termination Rights. Notwithstanding the provisions of Sections 23(a), (b) and (c), above, if the Premises are damaged by an uninsured casualty, or if the proceeds of insurance are insufficient to pay for the repair of any damage to the Premises, or if the Casualty occurs during the last six (6) months of the Term, Landlord shall have the option to repair such damage or cancel this Lease as of the date of the damage by written notice to Tenant given on or before the sixtieth (60th) day following the occurrence of the damage.
Landlord’s Termination Rights. Landlord shall have the right to terminate parking privileges within the Parking Area for any individual who violates on three or more occasions any provision of these parking rules or any provisions of any other rules affecting parking adopted by Landlord so long as Landlord has given Tenant written notice of such violations.
Landlord’s Termination Rights. Section 4(i) of Exhibit C to the Third Amendment shall be amended in its entirety to read as follows: “The Leases shall be revised to reflect that, at any time during the first five (5) Lease Years after the effective date of the Amended and Restated Leases, Landlords shall have the right to terminate up to twenty-five (25) of the Amended and Restated Leases, to be selected by Landlords in their sole and absolute discretion, at no cost to Landlords.”
Landlord’s Termination Rights. Notwithstanding anything contained in this Lease to the contrary, should Tenant desire to assign this Lease, or its interest or estate in the Premises, or sublet the Premises, or any portion thereof, it shall give written notice of its intention to do so to Landlord sixty (60) days or more before the effective date of such proposed assignment or subletting and Landlord may, at any time within thirty (30) days after the receipt of such notice from Tenant, cancel this Lease by giving Tenant written notice of its intention to do so, in which event such cancellation shall become effective upon the date specified by Landlord, but not less than thirty (30) days nor more than sixty (60) days after its receipt by Tenant, with the same force and effect as if said cancellation date were the date originally set forth as the expiration date of the Term of this Lease, or any extension or renewal thereof. Landlord may enter into a direct lease with the proposed sublessee of assignee or with any other persons as Landlord may desire without obligation or liability to Tenant, its assignees, sublessees or their respective successors, assigns, agents or brokers.
