Repairs Which Cannot Be Completed Within One Year Sample Clauses

Repairs Which Cannot Be Completed Within One Year. If all such repairs to the Premises or Building or Property cannot, in Lessor’s judgment, be completed within one (1) year following the date of notice to Lessor of such damage or destruction without the payment of overtime or other premium, Lessor shall notify Lessee of such determination and Lessor may, at Lessor’s sole and absolute option, given within sixty (60) days after notice to Lessor of the occurrence of such damage or destruction. If Lessor does not elect to make the repairs, then either Lessor or Lessee may, by written notice to the other no later than ninety (90) days after the occurrence of such damage or destruction. If Lessor elects to make the repairs, Lessee may then elect to terminate this Lease as of the date of the occurrence of such damage or destruction upon written notice to Lessee within five (5) days of Lessee’s receipt of Lessor’s notice that Lessor elects to make the repairs, or, if Lessee should not elect to terminate the Lease, then Lessor shall repair such damage or destruction to substantially their former condition at Lessor’s expense, and in such event, this Lease shall continue in full force and effect, but the Base Rental shall be proportionately reduced in the amount and for the duration as hereinabove provided in Section 15.1(a).
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Repairs Which Cannot Be Completed Within One Year. If such damage or ------------------------------------------------- destruction is not the result of the willful misconduct of Tenant or Tenant's employees, and if all such repairs cannot, in Landlord's judgment, be completed within one (1) year following the date of notice to Landlord of such damage or destruction without the payment of overtime or other premiums, Landlord may, at Landlord's sole and absolute option, upon written notice to Tenant no later than sixty (60) days after notice to Landlord of the occurrence of such damage or destruction, elect to repair such damage or destruction at Landlord's expense, and in such event, this Lease shall continue in full force and effect but the Rent shall be proportionately reduced as provided in, and to the extent provided in, Section 15.01(A). If Landlord does not elect to make such repairs and notifies Tenant of such election within the prescribed time period, then either party may, by written notice to the other, terminate this Lease as of the date of the occurrence of such damage or destruction, by notice given to the other.
Sample 1
Repairs Which Cannot Be Completed Within One Year. If all such repairs to the Premises or Building or Property cannot, in Lessor’s judgment, be completed within one (1) year following the date of notice to Lessor of such damage or destruction without the payment of overtime or other premium, Lessor shall notify Lessee of such determination within sixty (60) days after notice to Lessor of the occurrence of such damage or destruction, and either Lessor or Lessee, at its option, upon written notice to the other party given within ninety (90) days after the occurrence of such damage or destruction, elect to terminate this Lease as of the date of the occurrence of such damage or destruction. In the event that neither Lessor nor Lessee elect to terminate the Lease in accordance with the foregoing provisions, then Lessor shall, at Lessor’s expense, repair such damage or destruction to substantially their former condition, and in such event, this Lease shall continue in full force and effect but the Rent shall be reduced as provided in Section 15.1(a); provided, however, that if any such repair is not commenced by Lessor within ninety (90) days after the occurrence of such damage or destruction or is not substantially completed by Lessor within eighteen (18) months after the occurrence of such damage or destruction, then in either such event Lessee may, at its option, upon written notice to Lessor, elect to terminate this Lease as of the date of the occurrence of such damage or destruction.
Sample 1

Related to Repairs Which Cannot Be Completed Within One Year

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