Common use of Major Damage to Premises Clause in Contracts

Major Damage to Premises. (a) If the Premises, the Building or the Parking Structure, or access thereto, or the Building Systems and/or Service Facilities serving the Premises suffer Damage, Landlord shall give Tenant written notice (the “Repair Notice”) stating the estimated length of time that will be required to repair the Damage as soon as reasonably possible after such Damage, but in no event later than thirty (30) days following the date of such Damage (or 30 days after Landlord is informed of the Damage in the case of Damage that is not readily apparent from a visual inspection of the Building Property). If the repair of the Damage cannot, in the reasonable opinion of Landlord as set forth in the Repair Notice, be substantially completed within 210 days after the date of the Damage, without payment of overtime or other premium, then Landlord shall have the option, to be exercised at the time of the Repair Notice to Tenant either to: (i) terminate this Lease as of the date specified in Landlord’s Repair Notice which is not less than sixty (60) days nor more than ninety (90) days after the date of Landlord’s Repair Notice to Tenant (although rent shall be abated until such termination in the manner and to the extent provided in Section 12.6); or (ii) to repair the Damage in accordance with Section 12.2, in which event this Lease shall continue in full force and effect, subject to Tenant’s First Termination Option under subsection (b), and rent shall be abated in the manner and to the extent provided in Section 12.6. Notwithstanding anything to the contrary contained in this Lease, if the proceeds from insurance maintained by Landlord plus any amount paid by Tenant pursuant to Section 12.2 above will not be sufficient to cover the cost of repairs to the Tenant Improvements and Alterations in the Premises and if Tenant fails to pay timely the shortfall to Landlord for the construction of such work that Tenant is required to pay under the terms of this Lease, and as a result thereof, Landlord actually encounters a delay in completing the restoration/repair of the Tenant Improvements and Alterations, then the rent shall not xxxxx during any period such proceeds and payments are not available pursuant to the terms hereof for the repair of the Tenant Improvements and Alterations in the Premises. (b) If the Premises, the Building or the Parking Structure or access thereto, or the Building Systems and/or Service Facilities serving the Premises suffer Damage so that the Premises are rendered untenantable (or a material portion of the Premises is rendered untenantable and the remaining portion is not sufficient to allow Tenant to effectively conduct its business therein) (a “Tenant Damage Event”) and the repair thereof cannot, in the

Major Damage to Premises. (a) If the Premises, the Building or the Parking Structure, or access thereto, or the Building Systems and/or Service Facilities serving the Premises suffer Damage, Landlord shall give Tenant written notice (the “Repair Notice”) stating the estimated length of time that will be required to repair the Damage as soon as reasonably possible after such Damage, but in no event later than thirty (30) days following the date of such Damage (or 30 days after Landlord is informed of the Damage in the case of Damage that is not readily apparent from a visual inspection of the Building Property). If the repair of the Damage cannot, in the reasonable opinion of Landlord as set forth in the Repair Notice, be substantially completed within 210 days after the date of the Damage, without payment of overtime or other premium, then Landlord shall have the option, to be exercised at the time of the Repair Notice to Tenant either to: (i) terminate this Lease as of the date specified in Landlord’s Repair Notice which is not less than sixty (60) days nor more than ninety (90) days after the date of Landlord’s Repair Notice to Tenant (although rent shall be abated until such termination in the manner and to the extent provided in Section 12.6); or (ii) to repair the Damage in accordance with Section 12.2, in which event this Lease shall continue in full force and effect, subject to Tenant’s First Termination Option under subsection (b), and rent shall be abated in the manner and to the extent provided in Section 12.6. Notwithstanding anything to the contrary contained in this Lease, if the proceeds from insurance maintained by Landlord plus any amount paid by Tenant pursuant to Section 12.2 above will not be sufficient to cover the cost of repairs to the Tenant Improvements and Alterations in the Premises and if Tenant fails to pay timely the shortfall to Landlord for the construction of such work that Tenant is required to pay under the terms of this Lease, and as a result thereof, Landlord actually encounters a delay in completing the restoration/repair of the Tenant Improvements and Alterations, then the rent shall not xxxxx during any period such proceeds and payments are not available pursuant to the terms hereof for the repair of the Tenant Improvements and Alterations in the Premises. (b) If the Premises, the Building or the Parking Structure or access thereto, or the Building Systems and/or Service Facilities serving the Premises suffer Damage so that the Premises are rendered untenantable (or a material portion of the Premises is rendered untenantable and the remaining portion is not sufficient to allow Tenant to effectively conduct its business therein) (a “Tenant Damage Event”) and the repair thereof cannot, in thethe reasonable opinion of Landlord as set forth in the Repair Notice, be substantially completed within 210 days after the date of the Damage, Tenant shall have the option to terminate this Lease (“Tenant’s First Termination Option”). Tenant shall have thirty (30) days from Tenant’s receipt of the Repair Notice to exercise Tenant’s First Termination Option by written notice to Landlord. If Tenant exercises Tenant’s First Termination Option, this Lease shall terminate as of a date specified in Tenant’s notice which is not less than sixty (60) days nor more than ninety (90) days after Tenant’s notice to Landlord of the exercise of Tenant’s First Termination Option. In addition to Tenant’s other rights set forth in this Article 12 and elsewhere in this Lease, and notwithstanding anything to the contrary in this Lease, if the Parking Structure suffers Damage such that the holders of twenty percent (20%) or more of the total number of Parking Structure Devices which Landlord is then obligated to provide to Tenant under Article 26 are unable to use such Parking Devices to park in the Park Place Project, and if Landlord does not provide Reasonable Substitute Parking (as defined below) to Tenant within one (1) week after the date of such Damage (or after Landlord is informed of such Damage in the case of Damage that is not readily apparent from a non-intrusive visual inspection of the Parking Structure) to replace the Parking Structure Devices which Landlord is then obligated to provide to Tenant under Article 26, then Tenant’s rent for all its Parking Structure Devices shall xxxxx for the period of time that the Parking Structure or Reasonable Substitute Parking is unavailable for use by twenty percent (20%) or more of the holders of such Parking Structure Devices. As used herein, “Reasonable Substitute Parking” shall mean parking for passenger automobiles located at one or more locations (x) within a four (4) block radius of the Building, and/or (y) more than four (4) blocks from the Building but within two miles of the Building provided that Landlord, at its expense, provides a regular shuttle service consistent with the shuttle service required for the users of the Permanent Off-Site Parking Devices under Section 26.3 of this Lease between the Park Place Project and such substitute parking location or locations that are more than four (4) blocks from the Building. With respect to any substitute parking spaces provided by Landlord, Tenant shall pay for the monthly parking fees for such parking spaces at the lesser of (i) the rates charged by the parking operator/owner of such substitute parking location for such spaces, or (ii) the rates payable by Tenant for parking pursuant to this Lease, and Tenant shall not be obligated to pay the parking charges for the Parking Devices replaced by such substitute parking spaces during such substitution/replacement.

Major Damage to Premises. (a) If the Premises, access thereto within the Project, the Base Building Improvements, Service Facilities or the Parking Structure, or access thereto, or the Building Systems and/or Service Facilities serving the Premises suffer Damage so that the Premises are rendered untenantable and the repair thereof cannot in the reasonable opinion of Landlord, be completed within one hundred eighty (180) days after the date Landlord is informed of the Damage (without payment of overtime or other premium) or if insurance proceeds plus any amount Tenant elects to contribute to repair of the Tenant Improvements and Alterations will not be sufficient to cover the cost of repairs, then Landlord shall have the option, to be exercised by written notice to Tenant within thirty (30) days after the date Landlord is informed of the Damage, either: (a) to terminate this Lease as of the date specified in Landlord’s notice but not less than thirty (30) days nor more than sixty (60) days after Landlord’s notice to Tenant (although rent shall be abated until such termination in the manner and to the extent provided in Article 6); or (b) to repair the Damage in accordance with Section 12.2, in which event this Lease shall continue in full force and effect, and rent shall be abated in the manner and to the extent provided in Article 6. Landlord shall give Tenant written notice (the “Repair Notice”) stating the estimated length of time that will be required to repair the Damage as soon as reasonably possible after such Damage, but in no event later than thirty (30) days following the date of such Damage (or 30 days after Landlord is informed of the Damage in the case of Damage that is not readily apparent from a visual inspection of the Building Property). If the repair of the Damage cannot, in the reasonable opinion of Landlord as set forth in the Repair Notice, be substantially completed within 210 days after the date of the Damage, without payment of overtime or other premium, then Landlord shall have the option, to be exercised at the time of the Repair Notice to Tenant either to: (i) terminate this Lease as of the date specified in Landlord’s Repair Notice which is not less than sixty (60) days nor more than ninety (90) days after the date of Landlord’s Repair Notice to Tenant (although rent shall be abated until such termination in the manner and to the extent provided in Section 12.6); or (ii) to repair the Damage in accordance with Section 12.2, in which event this Lease shall continue in full force and effect, subject to Tenant’s First Termination Option under subsection (b), and rent shall be abated in the manner and to the extent provided in Section 12.6. Notwithstanding anything to the contrary contained in this Lease, if the proceeds from insurance maintained by Landlord plus any amount paid by Tenant pursuant to Section 12.2 above will not be sufficient to cover the cost of repairs to the Tenant Improvements and Alterations in the Premises and if Tenant fails to pay timely the shortfall to Landlord for the construction of such work that Tenant is required to pay under the terms of this Lease, and as a result thereof, Landlord actually encounters a delay in completing the restoration/repair of the Tenant Improvements and Alterations, then the rent shall not xxxxx during any period such proceeds and payments are not available pursuant to the terms hereof for the repair of the Tenant Improvements and Alterations in the Premises. (b) If the Premises, access thereto within the Project, the Base Building Improvements, Service Facilities or the Parking Structure or access thereto, or the Building Systems and/or Service Facilities serving the Premises suffer Damage so that the Premises are rendered untenantable (or a material portion of the Premises is rendered untenantable and the remaining portion is not sufficient to allow Tenant to effectively conduct its business therein) (a “Tenant Damage Event”) and the repair thereof cannot, in thethe reasonable opinion of Landlord, be completed within one hundred eighty (180) days after the date Landlord is informed of the Damage (without payment of overtime or other premium), Tenant shall have the option to terminate this Lease (“Tenant’s Termination Option”) Tenant shall have thirty (30) days from Tenant’s receipt of the Repair Notice to exercise Tenant’s Termination Option by written

Major Damage to Premises. (a) If the Premises, the Building or the Parking Structure, or access thereto, or the Building Systems and/or Service Facilities serving the Premises suffer Damage, Landlord shall give Tenant written notice (the “Repair Notice”) stating the estimated length of time that will be required to repair the Damage as soon as reasonably possible after such Damage, but in no event later than thirty (30) days following the date of such Damage (or 30 days after Landlord is informed of the Damage in the case of Damage that is not readily apparent from a visual inspection of the Building Property). If the repair of the Damage cannot, in the reasonable opinion of Landlord as set forth in the Repair Notice, be substantially completed within 210 days after the date of the Damage, without payment of overtime or other premium, then Landlord shall have the option, to be exercised at the time of the Repair Notice to Tenant either to: (i) terminate this Lease as of the date specified in Landlord’s Repair Notice which is not less than sixty (60) days nor more than ninety (90) days after the date of Landlord’s Repair Notice to Tenant (although rent shall be abated until such termination in the manner and to the extent provided in Section 12.6); or (ii) to repair the Damage in accordance with Section 12.2, in which event this Lease shall continue in full force and effect, subject to Tenant’s First Termination Option under subsection (b), and rent shall be abated in the manner and to the extent provided in Section 12.6. Notwithstanding anything to the contrary contained in this Lease, if the proceeds from insurance maintained by Landlord plus any amount paid by Tenant pursuant to Section 12.2 above will not be sufficient to cover the cost of repairs to the Tenant Improvements and Alterations in the Premises and if Tenant fails to pay timely the shortfall to Landlord for the construction of such work that Tenant is required to pay under the terms of this Lease, and as a result thereof, Landlord actually encounters a delay in completing the restoration/repair of the Tenant Improvements and Alterations, then the rent shall not xxxxx during any period such proceeds and payments are not available pursuant to the terms hereof for the repair of the Tenant Improvements and Alterations in the Premises. (b) If the Premises, the Building or the Parking Structure or access thereto, or the Building Systems and/or Service Facilities serving the Premises suffer Damage so that the Premises are rendered untenantable (or a material portion of the Premises is rendered untenantable and the remaining portion is not sufficient to allow Tenant to effectively conduct its business therein) (a “Tenant Damage Event”) and the repair thereof cannot, in thethe reasonable opinion of Landlord as set forth in the Repair Notice, be substantially completed within 210 days after the date of the Damage, Tenant shall have the option to terminate this Lease (“Tenant’s First Termination Option”). Tenant shall have thirty (30) days from Tenant’s receipt of the Repair Notice to exercise Tenant’s First Termination Option by written notice to Landlord. If Tenant exercises Tenant’s First Termination Option, this Lease shall terminate as of a date specified in Tenant’s notice which is not less than sixty (60) days nor more than ninety (90) days after Tenant’s notice to Landlord of the exercise of Tenant’s First Termination Option. In addition to Tenant’s other rights set forth in this Article 12 and elsewhere in this Lease, and notwithstanding anything to the contrary in this Lease, if the Parking Structure suffers Damage such that the holders of twenty percent (20%) or more of the total number of Parking Structure Devices which Landlord is then obligated to provide to Tenant under Article 26 are unable to use such Parking Devices to park in the Park Place Project, and if Landlord does not provide

Major Damage to Premises. (a) If the Premises, any material portion thereof, access thereto within the Building Project or the Parking Structure, or access thereto, or the Building Systems and/or Service Facilities serving the Premises suffer Damage so that the Premises are rendered unusable by Tenant for its business purposes and are not used by Tenant, and the repair thereof cannot in the reasonable opinion of Landlord be completed within two hundred seventy (270) days after the date Landlord is informed of the Damage (without payment of overtime or other premium) or if insurance proceeds available for Tenant Improvements and Alterations plus any amount Tenant elects to contribute to repair of the Tenant Improvements and Alterations will not be sufficient to cover the cost of repairs, then Landlord shall have the option, to be exercised by written notice to Tenant within thirty (30) days after the date Landlord is informed of the Damage, either: (a) to terminate this Lease as of the date not less than thirty (30) days nor more than sixty (60) days after Landlord’s notice to Tenant (although rent shall be abated until such termination in the manner and to the extent provided in Article 6); or (b) to repair the Damage in accordance with Section 12.2, in which event this Lease shall continue in full force and effect, and rent shall be abated in the manner and to the extent provided in Article 6. Landlord shall give Tenant written notice (the “Repair Notice”) stating the estimated length of time that will be required to repair the Damage as soon as reasonably possible after such Damage, but in no event later than thirty (30) days following the date of such Damage (or 30 days after Landlord is informed of the Damage in the case of Damage that is not readily apparent from a visual inspection of the Building Property). If the repair of the Damage cannot, in the reasonable opinion of Landlord as set forth in the Repair Notice, be substantially completed within 210 days after the date of the Damage, without payment of overtime or other premium, then Landlord shall have the option, to be exercised at the time of the Repair Notice to Tenant either to: (i) terminate this Lease as of the date specified in Landlord’s Repair Notice which is not less than sixty (60) days nor more than ninety (90) days after the date of Landlord’s Repair Notice to Tenant (although rent shall be abated until such termination in the manner and to the extent provided in Section 12.6); or (ii) to repair the Damage in accordance with Section 12.2, in which event this Lease shall continue in full force and effect, subject to Tenant’s First Termination Option under subsection (b), and rent shall be abated in the manner and to the extent provided in Section 12.6. Notwithstanding anything to the contrary contained in this Lease, if the proceeds from insurance maintained by Landlord plus any amount paid by Tenant pursuant to Section 12.2 above will not be sufficient to cover the cost of repairs to the Tenant Improvements and Alterations in the Premises and if Tenant fails to pay timely the shortfall to Landlord for the construction of such work that Tenant is required to pay under the terms of this Lease, and as a result thereof, Landlord actually encounters a delay in completing the restoration/repair of the Tenant Improvements and Alterations, then the rent shall not xxxxx during any period such proceeds and payments are not available pursuant to the terms hereof for the repair of the Tenant Improvements and Alterations in the Premises. (b) If the Premises, any material portion thereof, access thereto within the Building Project or the Parking Structure or access thereto, or the Building Systems and/or Service Facilities serving the Premises suffer Damage so that the Premises are rendered untenantable (or a material portion of the Premises is rendered untenantable and the remaining portion is not sufficient to allow unusable by Tenant to effectively conduct for its business therein) (a “Tenant Damage Event”) purposes and are not used by Tenant, and the repair thereof cannotnot in the reasonable opinion of Landlord be completed within two hundred seventy (270) days after the date Landlord is informed of the Damage (without payment of overtime or other premium), Tenant shall have the option to terminate this Lease (“Tenant’s Termination Option”). Tenant shall have thirty (30) days from Tenant’s receipt of the Repair Notice to exercise Tenant’s Termination Option by written notice to Landlord. If Tenant exercises Tenant’s Termination Option, the Lease shall terminate as of a date not less than thirty (30) days nor more than sixty (60) days after Tenant’s notice to Landlord of the exercise of Tenant’s Termination Option. (c) If the Premises, any material portion thereof, access thereto within the Project or Building Systems serving the Premises suffer Damage so that the Premises are rendered unusable by Tenant for its business purposes and are not used by Tenant, and if the Lease does not terminate pursuant to Paragraph 12.3(a) or Paragraph 12.3(b), then if Landlord fails to substantially complete the repair of such Damage on or before the date (the “Outside Completion Date”) which is the later of (i) two hundred seventy (270) days after the date Landlord is informed of the Damage and (ii) the date which is six (6) months after the date estimated for completion of such repair set forth in thethe Repair Notice required under Paragraph 12.3(a) above, and if the Damage not repaired on the Outside Completion Date renders a substantial part of the Premises unusable by Tenant for its business purposes and are not used by Tenant, Tenant shall have the option, exercisable by written notice to Landlord within thirty (30) days after the Outside Completion Date, to terminate this Lease effective thirty (30) days after the date of such notice. The Outside Completion Date shall be extended by delays in the completion of the repair of the Damage caused by force majeure events (other than the casualty that caused the Damage and such extension not to exceed six (6) months) or by Tenant, its agents, employees or contractors.