Common use of Repair and Restoration Clause in Contracts

Repair and Restoration. (1) If the Building and/or the Premises are damaged or destroyed by any such peril, to the extent the cost to repair exceeds twenty-five percent (25%) of the then full replacement value thereof or the damage thereto is such that the Building and/or the Premises cannot reasonably be repaired, reconstructed and restored within six (6) months from the date of such damage or destruction, Landlord shall, at its sole option, as soon as reasonably possible thereafter, either (i) commence or cause the commencement of the repair, reconstruction and restoration of the Building and/or the Premises and prosecute or cause the same to be prosecuted diligently to completion, in which event this Lease shall remain in full force and effect; or (ii) within sixty (60) days after such damage or destruction, elect not to so repair, reconstruct or restore the Building and/or the Premises, in which event this Lease shall terminate. In either event, Landlord shall give Tenant written notice of its intention within said sixty (60) day period. If Landlord elects not to restore the Building and/or the Premises, this Lease shall be deemed to have terminated as of the date of such damage or destruction. (2) If the Building and/or the Premises are partially damaged or destroyed by any such peril, to the extent the cost to repair is twenty-five percent (25%) or less of the then full replacement value thereof, and if the damage thereto is such that the Building and/or the Premises reasonably may be repaired, reconstructed or restored within a period of six (6) months from the date of such damage or destruction, then Landlord shall commence or cause the commencement of and diligently complete or cause the completion of the work of repair, reconstruction and restoration of the Building and/or the Premises and this Lease shall continue in full force and effect.

Repair and Restoration. (1) If the Building and/or the Premises are damaged or destroyed by any such peril, to the extent the cost to repair exceeds twenty-five fifty percent (2550%) of the then full replacement value thereof or the damage thereto is such that the Building and/or the Premises cannot reasonably be repaired, reconstructed and restored within six nine (69) months from the date of such damage or destruction, Landlord shall, at its sole option, as soon as reasonably possible thereafter, either (i) commence or cause the commencement of the repair, reconstruction and restoration of the Building and/or the Premises and prosecute or cause the same to be prosecuted diligently to completion, in which event this Lease shall remain in full force and effect; or (ii) within sixty (60) days after such damage or destruction, elect not to so repair, reconstruct or restore the Building and/or the Premises, in which event this Lease shall terminate. In either event, Landlord shall give Tenant written notice of its intention within said sixty (60) day period. If Landlord elects not to restore the Building and/or the Premises, this Lease shall be deemed to have terminated as of the date of such damage or destruction. (2) If the Building and/or the Premises are partially damaged or destroyed by any such peril, to the extent the cost to repair is twenty-five fifty percent (2550%) or less of the then full replacement value thereof, and if the damage thereto is such that the Building and/or the Premises reasonably may be repaired, reconstructed or restored within a period of six nine (69) months from the date of such damage or destruction, then Landlord shall commence or cause the commencement of and diligently complete or cause the completion of the work of repair, reconstruction and restoration of the Building and/or the Premises and this Lease shall continue in full force and effect.

Repair and Restoration. (1) If (A) the Building and/or the Premises are is damaged or destroyed by any such peril, to the extent the cost to repair exceeds twenty-five percent (25%) of the then full replacement value thereof thereof, or (B) the damage to the Building or the damage thereto Premises by any such peril is such that the Building and/or the Premises cannot reasonably be repaired, reconstructed and restored within six (6) months from the date of such damage or destruction, Landlord shall, at its sole option, as soon as reasonably possible thereafter, either (i) commence or cause the commencement of the repair, reconstruction and restoration of the Building and/or the Premises and prosecute or cause the same to be prosecuted diligently to completion, in which event this Lease shall remain in full force and effect; or (ii) within sixty (60) days after such damage or destruction, elect not to so repair, reconstruct or restore the Building and/or the Premises, in which event this Lease shall terminate. In either event, Landlord shall give Tenant written notice of its intention and the estimated time required to complete the repairs within said sixty (60) day period. If Landlord elects not to restore the Building and/or the Premises, this Lease shall be deemed to have terminated as of the date of such damage or destruction. (2) If the Building and/or the Premises are partially damaged or destroyed by any such peril, to the extent the cost to repair is twenty-five percent (25%) or less of the then full replacement value thereofof the Building, and if the damage thereto is such that the Building and/or the Premises Premises, as the case may be, reasonably may be repaired, reconstructed or restored within a period of six (6) months from the date of such damage or destruction, then Landlord shall commence or cause the commencement of and diligently complete or cause the completion of the work of repair, reconstruction and restoration of the Building and/or the Premises and this Lease shall continue in full force and effect.

Repair and Restoration. (1) If the Building and/or the Premises are damaged or destroyed by any such perilPeril covered by collectible insurance carried by Landlord at the time of the damage or destruction (a "Covered Peril"), to the extent that, in Landlord's sole discretion, (i) the cost to repair repair, reconstruct, or restore the Building and/or the Premises exceeds twenty-five percent (25%) of the then then-full replacement value thereof of the Building and/or the Premises or (ii) the damage thereto to the Building and/or the Premises is such that the Building and/or the Premises cannot reasonably be repaired, reconstructed reconstructed, and restored within six (6) months from the date of such the damage or destruction, then Landlord shall, at its sole option, as soon as reasonably possible thereafter, either shall either: (i) use reasonable diligence to commence or cause the commencement of and complete or cause the repair, reconstruction and restoration completion of the work of restoring the Building and/or the Premises and prosecute or cause Landlord's Work (as defined in the Work Letter, if any, attached to this Lease as Exhibit G), if any, (except that Landlord shall not be responsible for delays beyond Landlord's control) to substantially the same to be prosecuted diligently to completioncondition as they were in immediately before the Covered Peril, in which event this Lease shall remain in full force and effect; effect or (ii) within sixty ninety (6090) days after such the date of the damage or destruction, elect not to so repair, reconstruct reconstruct, or restore the Building and/or the PremisesPremises as described in option (i), in which event this Lease shall terminate. In either event, Landlord shall give Tenant written notice of its intention within said sixty the ninety (60) day 90)-day period. If Landlord elects not to repair, reconstruct, or restore the Building and/or the Premises, then this Lease shall be deemed to have terminated as of the date of such the damage or destructiondestruction by the Covered Peril. (2) If the Building and/or the Premises are partially damaged or destroyed by any such perilCovered Peril, to the extent that, in Landlord's sole discretion, the cost to repair repair, reconstruct, or restore the Building and/or the Premises is twenty-five percent (25%) or less of the then then-full replacement value thereofof the Building and/or the Premises, and if the damage thereto to the Building and/or the Premises is such that the Building and/or the Premises reasonably may be repaired, reconstructed reconstructed, or restored within a period of six (6) months from the date of such the damage or destructiondestruction by the Covered Peril, then Landlord shall commence or cause the commencement of and diligently complete or cause the completion of the work of repair, reconstruction and restoration of restoring the Building and/or the Premises and Landlord's Work, if any, (except that Landlord shall not be responsible for delays beyond Landlord's control) to substantially the same condition as they were in immediately before the Covered Peril, and this Lease shall continue in full force and effect.

Repair and Restoration. (1) If the Building and/or the Premises are damaged or destroyed by any such peril, to the extent the cost to repair exceeds twenty-five percent (25%) of the then full replacement value thereof or the damage thereto is such that the Building and/or the Premises cannot reasonably be repaired, reconstructed and restored within six (6) months from the date of such damage or destruction, Landlord shall, at its sole option, as soon as reasonably possible thereafter, either (i) commence or cause the commencement of the repair, reconstruction and restoration of the Building and/or the Premises and prosecute or cause the same to be prosecuted diligently to completion, in which event this Lease shall remain in full force and effect; or (ii) within sixty (60) days after such damage or destruction, elect not to so repair, reconstruct or restore the Building and/or the Premises, in which event this Lease shall terminate. In either event, Landlord shall give Tenant written notice of its intention within said sixty (60) day period. If Landlord elects not to restore the Building and/or the Premises, this Lease shall be deemed to have terminated as of the date of such damage or destruction. (2) If the Building and/or the Premises are partially damaged or destroyed by any such peril, to the extent the cost to repair is twenty-twenty- five percent (25%) or less of the then full replacement value thereof, and if the damage thereto is such that the Building and/or the Premises reasonably may be repaired, reconstructed or restored within a period of six (6) months from the date of such damage or destruction, then Landlord shall commence or cause the commencement of and diligently complete or cause the completion of the work of repair, reconstruction and restoration of the Building and/or the Premises and this Lease shall continue in full force and effect.