Common use of Lessor's Option to Repair Clause in Contracts

Lessor's Option to Repair. Notwithstanding the terms of Section 9.1 of this Lease (but subject to the abatement provisions set forth therein), Lessor may elect not to rebuild and/or restore the Premises and/or Building and instead terminate this Lease by notifying Lessee in writing of such termination within ninety (90) days after the date of damage, such notice to include a termination date giving Lessee ninety (90) days to vacate the Premises, but Lessor may so elect only if the Building shall be damaged by fire or other casualty or cause, whether or not the Premises are affected, and one or more of the following conditions is present: (i) repairs cannot reasonably be completed within two hundred and seventy (270) days of the date of damage (when such repairs are made without the payment of overtime or other premiums) or (ii) the damage is not fully covered, except for deductible amounts (which shall not exceed or be deemed to exceed $50,000), by Lessor’s insurance policies. If Lessor does not elect to terminate this Lease pursuant to Lessor’s termination right as provided above, Lessor shall notify Lessee within ninety (90) days after the date of damage as to whether the repairs can or cannot, in the reasonable opinion of Lessor, be completed within two hundred and seventy (270) days after being commenced. If Lessor notifies Lessee that the repairs cannot be completed within said two hundred and seventy (270)-day period, Lessee may elect, no earlier than ninety (90) days after the date of the damage and not later than ninety (90) days after the date of such damage, to terminate this Lease by written notice to Lessor effective as of the date specified in the notice, which date shall not be less than thirty (30) days nor more than ninety (90) days after the date such notice is given by Lessee. Furthermore, if neither Lessor nor Lessee has terminated this Lease, and the repairs are not actually completed within such two hundred and seventy (270)-day period, Lessee shall have the right to terminate this Lease during the first five (5) business days of each calendar month following the end of such period until such time as the repairs are complete, by notice to Lessor (the “Damage Termination Notice”), effective as of a date set forth in the Damage Termination Notice (the “Damage Termination Date”), which Damage Termination Date shall not be less than ten (10) business days following the end of each such month. Notwithstanding the foregoing, if Lessee delivers a Damage Termination Notice to Lessor, then Lessor shall have the right to suspend the occurrence of the Damage Termination Date for a period ending thirty (30) days after the Damage Termination Date set forth in the Damage Termination Notice by delivering to Lessee, within five (5) business days of Lessor’s receipt of the Damage Termination Notice, a certificate of Lessor’s contractor responsible for the repair of the damage certifying that it is such contractor’s good faith judgment that the repairs shall be substantially completed within thirty (30) days after the Damage Termination Date. If repairs shall be substantially completed prior to the expiration of such thirty (30)-day period, then the Damage Termination Notice shall be of no force or effect, but if the repairs shall not be substantially completed within such thirty (30)-day period, then this Lease shall terminate upon the expiration of such thirty (30)-day period. At any time, from time to time, after the date occurring ninety (90) days after the date of the damage, Lessee may request that Lessor inform Lessee of Lessor’s reasonable opinion of the date of completion of the repairs and Lessor shall respond to such request within five (5) business days.

Lessor's Option to Repair. Notwithstanding the terms of Section 9.1 of this Lease (but subject 11.1 above to the abatement provisions set forth therein)contrary, Lessor may elect not to rebuild and/or restore the Premises and/or Building and instead terminate this Lease by notifying Lessee in writing of such termination within ninety sixty (9060) days after the date Lessor becomes aware of such damage, such notice to include a termination date giving Lessee up to ninety (90) days to vacate the Premises, but Lessor may so elect only if the Building Premises shall be damaged by fire or other casualty or cause, whether or not the Premises are affected, and one or more of the following conditions is present: (i) repairs cannot reasonably be completed within two one hundred and seventy twenty (270120) days of after the date of such damage (when such repairs are made without the payment of overtime or other premiums); (ii) the holder of any mortgage on the Premises or ground or underlying lessor with respect to the Premises shall require that the insurance proceeds or any portion thereof be used to retire the mortgage debt, or shall terminate the ground or underlying lease, as the case may be; or (iiiii) the damage is not fully covered, except for deductible amounts (which shall not exceed covered by Lessee’s or be deemed to exceed $50,000), by Lessor’s insurance policies. If Lessor does not elect In addition, if the Premises is destroyed or damaged to terminate any substantial extent during the last twenty-four (24) months of the Term, then notwithstanding anything contained in this Lease pursuant to Lessor’s termination right as provided aboveSection 11, Lessor or Lessee shall notify Lessee within ninety (90) days after have the date of damage as to whether the repairs can or cannot, in the reasonable opinion of Lessor, be completed within two hundred and seventy (270) days after being commenced. If Lessor notifies Lessee that the repairs cannot be completed within said two hundred and seventy (270)-day period, Lessee may elect, no earlier than ninety (90) days after the date of the damage and not later than ninety (90) days after the date of such damage, option to terminate this Lease by giving written notice to Lessor effective as the other party of the date specified in the notice, which date shall not be less than thirty (30) days nor more than ninety (90) days after the date such notice is given by Lessee. Furthermore, if neither Lessor nor Lessee has terminated this Lease, and the repairs are not actually completed within such two hundred and seventy (270)-day period, Lessee shall have the right to terminate this Lease during the first five (5) business days of each calendar month following the end exercise of such period until such time as the repairs are complete, by notice to Lessor (the “Damage Termination Notice”), effective as of a date set forth in the Damage Termination Notice (the “Damage Termination Date”), which Damage Termination Date shall not be less than ten (10) business days following the end of each such month. Notwithstanding the foregoing, if Lessee delivers a Damage Termination Notice to Lessor, then Lessor shall have the right to suspend the occurrence of the Damage Termination Date for a period ending thirty (30) days after the Damage Termination Date set forth in the Damage Termination Notice by delivering to Lessee, within five (5) business days of Lessor’s receipt of the Damage Termination Notice, a certificate of Lessor’s contractor responsible for the repair of the damage certifying that it is such contractor’s good faith judgment that the repairs shall be substantially completed option within thirty (30) days after the Damage Termination Date. If repairs shall be substantially completed prior to the expiration such party becomes aware of such thirty (30)-day perioddamage, then the Damage Termination Notice shall be of no force or effect, but if the repairs shall not be substantially completed within such thirty (30)-day period, then in which event this Lease shall cease and terminate upon the expiration of such thirty (30)-day period. At any time, from time to time, after the date occurring ninety (90) days after the date of the damage, Lessee may request that Lessor inform Lessee of Lessor’s reasonable opinion as of the date of completion such notice. Upon any such termination of the repairs Lease pursuant to this Section 11.2, Lessee shall pay the Base Rent and Lessor additional rent, properly apportioned up to the earlier of the date of termination or the date that Lessee vacated the Premises as a result of the casualty, and both parties hereto shall respond to thereafter be discharged from all further obligations under this Lease arising after such request within five (5) business daystermination, except for those obligations which expressly survive the expiration or earlier termination of the Term.

Lessor's Option to Repair. Notwithstanding the terms of Section 9.1 Article 10.1 of this Lease (but subject to the abatement provisions set forth therein)Lease, Lessor may elect not to rebuild and/or restore the Premises and/or Building Common Areas and instead terminate this Lease by notifying Lessee in writing of such termination within ninety thirty (9030) days after the date of damage, such notice to include a termination date giving Lessee ninety (90) days to vacate the Premises, but Lessor may so elect only if the Building Project shall be damaged by fire or other casualty or cause, cause whether or not the Premises are affected, and one or more of the following conditions is present: (ia) repairs cannot reasonably be completed within two one hundred and seventy eighty (270180) days of the date of damage using standard construction methods (when such repairs are made without the payment of overtime or other premiums), (b) the holder of any mortgage on the Building or ground or underlying lessor with respect to the Building shall require that the insurance proceeds or any portion thereof be used to retire or pay down the mortgage debt, or shall terminate the ground or underlying lease, as the case may be; or (iic) the damage is not fully covered, except for deductible amounts (which shall not exceed or be deemed to exceed $50,000)amounts, by Lessor’s insurance policies. If Lessor does not elect to terminate this Lease pursuant to Lessor’s termination right as provided above, Lessor shall notify Lessee within ninety (90) days after the date of damage as to whether the repairs can or cannotIn addition, in the reasonable opinion of Lessor, be completed within two hundred and seventy (270) days after being commenced. If Lessor notifies Lessee event that the repairs cannot be completed within said two hundred and seventy Premises or the Project are materially destroyed or damaged to any substantial extent during the last twelve (270)-day period, Lessee may elect, no earlier than ninety (9012) days after the date months of the damage and not later than ninety (90) days after Lease Term, either Lessor or Lessee shall have the date of such damage, option to terminate this Lease by giving written notice to Lessor effective as the other of the date specified in the notice, which date shall not be less than thirty (30) days nor more than ninety (90) days after the date such notice is given by Lessee. Furthermore, if neither Lessor nor Lessee has terminated this Lease, and the repairs are not actually completed within such two hundred and seventy (270)-day period, Lessee shall have the right to terminate this Lease during the first five (5) business days of each calendar month following the end exercise of such period until such time as the repairs are complete, by notice to Lessor (the “Damage Termination Notice”), effective as of a date set forth in the Damage Termination Notice (the “Damage Termination Date”), which Damage Termination Date shall not be less than ten (10) business days following the end of each such month. Notwithstanding the foregoing, if Lessee delivers a Damage Termination Notice to Lessor, then Lessor shall have the right to suspend the occurrence of the Damage Termination Date for a period ending thirty (30) days after the Damage Termination Date set forth in the Damage Termination Notice by delivering to Lessee, within five (5) business days of Lessor’s receipt of the Damage Termination Notice, a certificate of Lessor’s contractor responsible for the repair of the damage certifying that it is such contractor’s good faith judgment that the repairs shall be substantially completed option within thirty (30) days after the Damage Termination Date. If repairs shall be substantially completed prior to the expiration of such thirty (30)-day perioddamage or destruction, then the Damage Termination Notice shall be of no force or effect, but if the repairs shall not be substantially completed within such thirty (30)-day period, then in which event this Lease shall cease and terminate upon the expiration of such thirty (30)-day period. At any time, from time to time, after the date occurring ninety (90) days after the date of the damage, Lessee may request that Lessor inform Lessee of Lessor’s reasonable opinion as of the date of completion such notice. Upon any such termination of this Lease pursuant to this Article 10.2, Lessee shall pay Rent, properly apportioned up to such date of termination, and both parties hereto shall thereafter be freed and discharged of all further obligations hereunder, except as provided for in provisions of this Lease which by their terms survive the expiration or earlier termination of the repairs and Lessor shall respond to such request within five (5) business daysLease Term.

Lessor's Option to Repair. Notwithstanding the terms of Section Paragraph 9.1 of this Lease (but subject to the abatement provisions set forth therein)Lease, Lessor may elect not to rebuild and/or restore the Premises and/or Building and instead terminate this Lease by notifying Lessee in writing of such termination within ninety sixty (9060) days after the date of damage, such notice to include a termination date giving Lessee ninety (90) days to vacate the Premises, but Lessor may so elect only if the Premises, or the Common Areas providing access to or parking for the Premises, or any substantial portion of the Building which is other than the Premises shall be damaged by fire or other casualty or cause, whether or not the Premises are affected, and one or more of the following conditions is present: (i) repairs cannot reasonably substantially be completed within two one hundred and seventy eighty (270180) days of the date of damage (when such repairs are made without the payment of overtime or other premiums), as determined by an independent contractor selected by Lessor (the "Damage Consultant") pursuant to a notice delivered by Lessor to Lessee within forty five (45) days alter the damage ("Lessor's Damage Notice"); or (ii) the damage or condition arising as a result of such damage is not fully covered, except for deductible amounts (which shall not exceed or be deemed to exceed $50,000)amounts, by Lessor’s 's insurance policies. If policies required to be maintained pursuant to Paragraph 8.3(a) of this Lease, plus the sum of any insurance proceeds or costs pertaining to the Lessee-Owned Alterations and Utility Installations assigned to Lessor as provided above (and such lack of coverage is not due to Lessor's failure to maintain any insurance required to be maintained by Lessor pursuant to Paragraph 8.3 of this Lease); provided, however, that (A) if Lessor does not elect to terminate this Lease pursuant to Lessor’s 's termination right as provided above, Lessor shall notify (B) the damage constitutes a "Lessee Damage Event" (as defined below), and (C) repair of such damage cannot, in the reasonable judgment of the Damage Consultant, be substantially completed within ninety one hundred eighty (90180) days after the date of damage as to whether the repairs can or cannotdamage, in the reasonable opinion of Lessor, be completed within two hundred and seventy (270) days after being commenced. If Lessor notifies Lessee that the repairs cannot be completed within said two hundred and seventy (270)-day period, then Lessee may elect, no earlier than ninety sixty (9060) days after alter the date of the damage and not later than ninety thirty (9030) days after the date of such damageLessee's receipt of Lessor's Damage Notice, to terminate this Lease by written notice to Lessor effective as of the date specified in the notice, which date shall not be less than thirty (30) days nor more than ninety sixty (9060) days after the date such notice is given by Lessee. Furthermore, if neither Lessor nor Lessee has have terminated this Lease, the damage constitutes a Lessee Damage Event, and the repairs of such damage are not actually substantially completed within the later of (1) such two hundred 180-day period, or (2) thirty (30) days alter the date estimated by Lessor in Lessor's Damage Notice for substantial completion of such repairs (as such time period in items (1) and seventy (270)-day period2) above shall be extended by Lessee-caused delays and any other delays beyond Lessor's reasonable control described in Paragraph 51 of the Addendum), Lessee shall have the right to terminate this Lease within ten (10) business days after the end of such period and thereafter during the first five (5) business days of each calendar month following the end of such period until such time as the repairs are substantially complete, by notice to Lessor (the “"Damage Termination Notice”"), effective as of a date set forth in the Damage Termination Notice (the “"Damage Termination Date”"), which Damage Termination Date shall not be less than ten (10) business days following the end of such period or each such month, as applicable. Notwithstanding the foregoing, if Lessee delivers a Damage Termination Notice to Lessor, then Lessor shall have the right to suspend the occurrence of the Damage Termination Date for a period ending thirty (30) days after the Damage Termination Date set forth in the Damage Termination Notice by delivering to Lessee, within five (5) business days of Lessor’s 's receipt of the Damage Termination Notice, a certificate of Lessor’s 's contractor responsible for the repair of the damage certifying that it is such contractor’s 's good faith judgment that the repairs shall be substantially completed within thirty (30) days after the Damage Termination Date. If the repairs shall be substantially completed prior to the expiration of such thirty (30)-day 30) day period, then the Damage Termination Notice shall be of no force or effect, but if the repairs shall not be substantially completed within such thirty (30)-day 30) day period, then this Lease shall terminate upon the expiration of such thirty (30)-day 30) day period. At any time, from time to time, after the date occurring ninety sixty (9060) days after the date of the damage, Lessee may request that Lessor inform Lessee of Lessor’s 's reasonable opinion of the date of completion of the repairs and Lessor shall respond to such request within five (5) business days. As used herein, a "Lessee Damage Event" shall mean damage to all or any part of the Premises or any Common Areas providing access to or parking for the Premises by fire or other casualty, which damage is not the result of the reckless acts or willful misconduct of Lessee or any of Lessee's employees, agents. contractors, licensees or invitees, and which damage substantially interferes with Lessee's use of or access to the Premises and would entitle Lessee to an abatement of Base Rent and Lessee's Share of Common Area Operating Expenses pursuant to Paragraph 9.1 above.