Common use of Options to Terminate if Damage Substantial Clause in Contracts

Options to Terminate if Damage Substantial. Upon receipt of Tenant's Notice of Damage, Landlord shall promptly proceed to determine the nature and extent of the damage or destruction and shall estimate the time necessary to repair and restore the Premises. Landlord agrees that within thirty (30) days following Landlord's receipt of Tenant's Notice of Damage, Landlord shall give written notice to Tenant stating Landlord's estimate of the time necessary to repair or restore the Premises ("Landlord's Notice of Repair Time"). If all or substantially all of the Premises are destroyed and Landlord reasonably estimates that repair or restoration of the Premises cannot be completed within one hundred twenty (120) days from the time of Tenant's Notice of Damage, Landlord and Tenant shall each have the option to terminate this Lease. In the event either Landlord or Tenant exercises its option to terminate this Lease, then the Lease shall immediately expire and be null and void and of no further force or effect. In the event of termination of this Lease under the provisions hereof, Landlord shall refund to Tenant such amounts of rent theretofore paid by Tenant as may be applicable to the period subsequent to the time Tenant's Notice of Damage, less the reasonable value of any use or occupation of the Premises by Tenant subsequent to the time of Tenant's Notice of Damage.

Options to Terminate if Damage Substantial. Upon receipt of Tenant's ’s Notice of Damage, Landlord shall promptly proceed to determine the nature and extent of the damage or destruction and shall to estimate the time necessary to repair and or restore the Demised Premises. Landlord agrees that within thirty (30) As soon as reasonably possible, but not later than 60 days following Landlord's receipt after the date of Tenant's Notice of Damage, such damage Landlord shall give written notice to Tenant stating Landlord's ’s estimate of the time necessary to repair or restore the Demised Premises ("“Landlord's ’s Notice of Repair Time"”). If all or substantially all of the Premises are destroyed and Landlord reasonably estimates that repair or restoration of the Demised Premises cannot be completed within one hundred twenty fifty (120150) business days from the time of Tenant's ’s Notice of Damage, Landlord and Tenant shall each have the option to terminate this Lease. In If, however, the event damage or destruction was caused by the act or omission of Tenant or Tenant’s Agents, Landlord shall have the option to terminate this Lease if Landlord reasonably estimates that the repair or restoration cannot reasonably be completed within one hundred fifty (150) business days from the time of Tenant’s Notice of Damage, but Tenant shall not have the option to terminate this Lease. Any option granted hereunder shall be exercised by written notice to the other party given within ten (10) days after Landlord’s Notice of Repair Time. If either Landlord or Tenant exercises its option to terminate this Lease, then the Lease Term shall immediately expire and be null and void and of no further force ten (10) days after the notice by either Landlord or effectTenant exercising such party’s option to terminate this Lease. In the event of Following termination of this Lease under the provisions hereof, Landlord shall refund to Tenant such amounts of rent Basic Rent and Additional Rent theretofore paid by Tenant as may be applicable to the period subsequent to the time of Tenant's ’s Notice of Damage, Damage less the reasonable value of any use or occupation of the Demised Premises by Tenant subsequent to the time of Tenant's ’s Notice of Damage.

Options to Terminate if Damage Substantial. Upon receipt of Tenant's Notice of Damage, Landlord shall promptly proceed to determine the nature and extent of the damage or destruction and shall to estimate the time necessary to repair and or restore the Premises. Landlord agrees that within thirty Within ten (3010) business days following after Landlord's receipt of Tenant's Notice of Damage, Landlord shall give written notice to Tenant stating Landlord's estimate of the time necessary to repair or restore the Premises ("Landlord's Notice of Repair Time"). If all or substantially all more than 25% of the Premises are destroyed Building is untenantable for Tenant's purposes and Landlord reasonably estimates that repair or restoration of the Premises cannot be completed within one hundred twenty (120) 180 days from after the time of Landlord's receipt of Tenant's Notice of Damage, Landlord and Tenant shall each have the option to terminate this Lease. In the event, however, that the damage or destruction was caused by willful misconduct of Tenant or Tenant's officers, employees, agents, guests or invitees or of anyone claiming by, through or under Tenant, Landlord shall have the option to terminate this Lease if Landlord reasonably estimates that such repair or restoration cannot reasonably be completed within 100 days after the time of Landlord's receipt of Tenant's Notice of Damage, but Tenant shall not have the option to terminate this Lease. In such event, if the damage is expected to prevent Tenant from carrying on its normal business activity in the Premises to a reasonable extent, rent shall be abated in the proportion that the approximate area of the damaged part bears to the total area in the Premises from the date of the casualty until substantial completion of the reconstruction repairs. Any option granted hereunder shall be exercised by written notice to the other party given within ten (10) days after Tenant's receipt of Landlord's Notice of Repair Time. In the event either Landlord or Tenant exercises its option to terminate this Lease, then the Lease Term shall immediately expire and be null and void and of no further force or effect. In the event of termination of this Lease under the provisions hereof, Landlord shall refund to Tenant such amounts of rent theretofore paid by Tenant as may be applicable to the period subsequent to the time Tenant's Notice of Damage, less the reasonable value of any use or occupation ten (10) days after receipt of the Premises notice by either Landlord or Tenant subsequent exercising such party's option to the time of Tenant's Notice of Damageterminate this Lease.

Options to Terminate if Damage Substantial. Upon receipt of Tenant's Notice of Damage, Landlord shall promptly proceed to determine the nature and extent of the damage or destruction and shall to estimate the time necessary to repair and or restore the Demised Premises. Landlord agrees that within thirty (30) days following Landlord's receipt of Tenant's Notice of Damage, As soon as reasonably possible Landlord shall give written notice to Tenant stating Landlord's Landlord s estimate of the time necessary to repair or restore the Demised Premises ("Landlord's Notice of Repair Time"). If all or substantially all of the Premises are destroyed and Landlord reasonably estimates that repair or restoration of the Demised Premises cannot be completed within one hundred twenty (120) 180 days from the time of Tenant's Notice of Damage, Landlord and Tenant shall each have the option to terminate this Lease. In the event, however, that the damage or destruction was caused by the act or omission of Tenant or Tenant's officers, employees, agents, guests or invitees or of anyone claiming by, through or under Tenant, Landlord shall have the option to terminate this Lease if Landlord reasonably estimates that the repair or restoration cannot reasonably be completed within 180 days from the time of Tenant's Notice of Damage, but Tenant shall not have the option to terminate this Lease. Any option granted hereunder shall be exercised by written notice to the other party given within 10 days after Landlord's Notice of Repair Time. In the event either Landlord or Tenant exercises its option to terminate this Lease, then the Lease Term shall immediately expire and be null and void and of no further force 10 days after the notice by either Landlord or effectTenant exercising such party's option to terminate this Lease. In the event of termination of this Lease under the provisions hereof, Landlord shall refund to Tenant such amounts of rent Basic Rent, and Additional Rent theretofore paid by Tenant as may be applicable to the period subsequent to the time Tenant's of Tenant',s Notice of Damage, Damage less the reasonable value of any use or occupation of the Demised Premises by Tenant subsequent to the time of Tenant's Notice of Damage.

Options to Terminate if Damage Substantial. Upon receipt of Tenant's Notice of Damage, Landlord shall promptly proceed to determine the nature and extent of the damage or destruction and shall to estimate the time necessary to repair and or restore the Premises. Landlord agrees that within thirty (30) As soon as reasonably possible, but no later than 60 days following Landlord's after receipt of Tenant's ’s Notice of Damage, Landlord shall give written notice to Tenant stating Landlord's estimate of the time necessary to repair or restore the Premises ("Landlord's Notice of Repair Time"). If all or substantially all of the Premises are destroyed and Landlord reasonably estimates that repair or restoration of the Premises cannot be completed within one hundred twenty eighty (120180) days from the time of Tenant's Notice of Damage, Landlord and or Tenant shall each have the option to terminate this Lease. In the event either Landlord or Tenant exercises its option to terminate this Lease, then the Lease Term shall immediately expire ten (10) days following the date of such notice by Landlord exercising its option to terminate this Lease, but Tenant shall have a reasonable time not to exceed 30 days to recover its property and be null and void and of no further force or effectotherwise vacate the Premises. In the event of termination of this Lease under the provisions hereof, Landlord shall refund to Tenant such amounts of rent Base Rent and Additional Rent theretofore paid by Tenant as may be applicable to the period subsequent to the time of Tenant's Notice of Damage, Damage less the reasonable value of any use or occupation of the Premises by Tenant subsequent to the time of Tenant's Notice of Damage.