Common use of OPTIONS TO DETERMINE Clause in Contracts

OPTIONS TO DETERMINE. 7.1 If for any reason beyond the control of the Landlord it proves impossible to commence rebuilding or reinstatement of the Premises within two years of the occurrence of the damage by an Insured Risk, the Landlord may terminate this Lease by giving to the Tenant notice to that effect at any time until such rebuilding and reinstatement has actually commenced 7.2 If the rebuilding or reinstatement of the Premises has not been commenced two years after the occurrence of the damage by an Insured Risk, the Tenant may give three months notice to the Landlord of intention to terminate this Lease, and if the rebuilding or reinstatement work has not commenced in xxxxxxx within three months of the giving of the notice, this Lease shall terminate at the expiry of the notice 7.3 The termination of this Lease under this paragraph 7 shall not affect any liability which has accrued at any time before the time of termination 8 Retention of insurance proceeds On the termination of this Lease under paragraph 7, or if this Lease is terminated by the operation of the doctrine of frustration, the Landlord shall be entitled to retain for its exclusive benefit the proceeds of insurance SCHEDULE 4 Form of guarantee on assignment

OPTIONS TO DETERMINE. 7.1 If the Building or a substantial part of it (whether or not directly affecting the Premises) is destroyed or damaged by an Insured Risk so as to make continued use of the Premises impracticable, the Landlord may terminate this Lease by giving to the Tenant notice to that effect at any time within 12 months after the occurrence of the damage 7.2 If for any reason beyond the control of the Landlord it proves impossible to commence rebuilding or reinstatement of the Premises Building within two years of the occurrence of the damage by an Insured Risk, the Landlord may terminate this Lease by giving to the Tenant notice to that effect at any time until such rebuilding and reinstatement has actually commencedeffect 7.2 7.3 If the rebuilding or reinstatement of the Premises Building has not been commenced two years after the occurrence of the damage by an Insured Risk, the Tenant may give three months notice to the Landlord of intention to terminate this Lease, and if the rebuilding or reinstatement work has not commenced in xxxxxxx within three six months of the giving of the notice, this Lease shall is to terminate at the expiry of the notice 7.3 7.4 The termination of this Lease under this paragraph 7 shall is not to affect any liability which has accrued at any time before the time of termination 8 Retention of insurance proceeds On the termination of this Lease under paragraph 7, or if this Lease is terminated by the operation of the doctrine of frustration, the Landlord shall be entitled to retain for its exclusive benefit the proceeds of insurance SCHEDULE 4 Form of guarantee on assignmenttermination

OPTIONS TO DETERMINE. 7.1 If the Building or a substantial part of it (whether or not directly affecting the Demised Premises) is destroyed or damaged by an Insured Risk so as to make continued use of the Demised Premises impracticable the Landlord may terminate this Lease by giving to the Tenant notice to that effect at any time within 12 months after the occurrence of the damage 7.2 If for any reason beyond the control of the Landlord it proves impossible to commence rebuilding or reinstatement of the Premises Building within two years of the occurrence of the damage by an Insured Risk, Risk the Landlord may terminate this Lease by giving to the Tenant notice to that effect at any time until such rebuilding and reinstatement has actually commencedeffect 7.2 7.3 If the rebuilding or reinstatement of the Premises Building has not been commenced two years after the occurrence of the damage by an Insured Risk, Risk the Tenant may give three months notice to the Landlord of intention to terminate this Lease, Lease and if the rebuilding or reinstatement work has not commenced in xxxxxxx within three six months of the giving of the notice, notice this Lease shall is to terminate at the expiry of the notice 7.3 7.4 The termination of this Lease under this paragraph 7 shall is not to affect any liability which has accrued at any time before the time of termination 8 Retention of insurance proceeds On the termination of this Lease under paragraph 7, or if this Lease is terminated by the operation of the doctrine of frustration, the Landlord shall be entitled to retain for its exclusive benefit the proceeds of insurance SCHEDULE 4 Form of guarantee on assignmenttermination