Common use of Restoration by Landlord Clause in Contracts

Restoration by Landlord. If, at any time during the Term, the Project or the Premises are damaged or destroyed by a fire or other insured casualty (“Casualty”), Landlord shall notify Tenant within 60 days after discovery of such Casualty as to the amount of time Landlord reasonably estimates it will take to restore the Project or the Premises, as applicable (the “Restoration Period”). If the Restoration Period is estimated to exceed 12 months (the “Maximum Restoration Period”), Landlord may, in such notice, elect to terminate this Lease as of the date that is 75 days after the date of discovery of such damage or destruction; provided, however, that notwithstanding Landlord’s election to restore, Tenant may elect to terminate this Lease by written notice to Landlord delivered within 5 business days of receipt of a notice from Landlord estimating a Restoration Period for the Premises longer than the Maximum Restoration Period. Unless either Landlord or Tenant so elects to terminate this Lease, upon receipt of sufficient insurance proceeds, Landlord shall promptly restore the Premises (excluding the improvements installed by Tenant or by Landlord and paid for by Tenant unless covered by the insurance Landlord maintains as an Operating Expense hereunder, in which case such improvements shall be included, to the extent of such insurance proceeds, in Landlord’s restoration), subject to delays arising from the collection of insurance proceeds, from Force Majeure events or as needed to obtain any license, clearance or other authorization of any kind required to enter into and restore the Premises issued by any Governmental Authority having jurisdiction over the use, storage, handling, treatment, generation, release, disposal, removal or remediation of Hazardous Materials (as defined in Section 30 hereof) in, on or about the Premises (collectively referred to herein as “Hazardous Materials Clearances”); provided, however, that if repair or restoration of the Premises is not substantially complete as of the end of the Maximum Restoration Period or, if longer, the Restoration Period, Landlord may, in its sole and absolute discretion, elect not to proceed with such repair and restoration, or Tenant may by written notice to Landlord delivered within 5 business days of the expiration of the Maximum Restoration Period or, if longer, the Restoration Period, elect to terminate this Lease, in which event Landlord shall be relieved of its obligation to make such repairs or restoration and this Lease shall terminate as of the date that is 75 days after the later of: (i) discovery of such damage or destruction, or (ii) the date all required Hazardous Materials Clearances are obtained, but Landlord shall retain the right to any Rent payable by Tenant prior to such election by Landlord or Tenant. Notwithstanding the foregoing, either Landlord or Tenant may terminate this Lease if the Premises are damaged during the last year of the Term and Landlord reasonably estimates that it will take more than 2 months to repair such damage, or if insurance proceeds are not available for such restoration.

Restoration by Landlord. If, at any time during If the Term, the Project or the Leased Premises are shall be damaged or destroyed by a fire or other insured casualty (“Casualty”)casualty, Landlord shall use available insurance proceeds to repair the Leased Premises, except that Landlord shall not be required to repair or replace any of Tenant’s furniture, furnishings, fixtures or equipment, or any alterations or improvements made by Tenant after the Commencement Date and Landlord’s obligations shall be subject to any governmental requirements. Landlord shall not be liable for any inconvenience or annoyance to Tenant or its visitors, or injury to Tenant’s business resulting in any way from such damage or the repair thereof. Landlord shall notify Tenant within 60 thirty (30) days after discovery of such Casualty as to the amount of time casualty whether or not Landlord reasonably estimates it will take intends to restore the Project or the Leased Premises, as applicable (the “Restoration Period”). If the Restoration Period is estimated to exceed 12 months (the “Maximum Restoration Period”), Landlord may, in does not provide such written notice, elect to terminate this Lease as of the date then, and in that is 75 days after the date of discovery of such damage or destruction; provided, however, that notwithstanding Landlord’s election to restore, Tenant may elect to terminate this Lease by written notice to Landlord delivered within 5 business days of receipt of a notice from Landlord estimating a Restoration Period for the Premises longer than the Maximum Restoration Period. Unless either Landlord or Tenant so elects to terminate this Lease, upon receipt of sufficient insurance proceedsevent, Landlord shall promptly be required to restore the Leased Premises (excluding the improvements installed by Tenant or by Landlord and paid for by Tenant unless covered by the insurance Landlord maintains as an Operating Expense hereunder, in which case such improvements shall be included, to the extent of such insurance proceeds, in Landlord’s restoration), subject required hereby. If Landlord elects to delays arising from the collection of insurance proceeds, from Force Majeure events or as needed to obtain any license, clearance or other authorization of any kind required to enter into repair and restore the Premises issued by any Governmental Authority having jurisdiction over the use, storage, handling, treatment, generation, release, disposal, removal or remediation of Hazardous Materials (as defined in Section 30 hereof) in, on or about the Premises (collectively referred to herein as “Hazardous Materials Clearances”); provided, however, that if repair or restoration of the Premises is not substantially complete as of the end of the Maximum Restoration Period or, if longer, the Restoration PeriodLeased Premises, Landlord may, in its sole and absolute discretion, elect not to proceed with such repair and restoration, or Tenant may by written notice to Landlord delivered within 5 business days of the expiration of the Maximum Restoration Period or, if longer, the Restoration Period, elect to terminate this Lease, in which event Landlord shall be relieved of its obligation to make such repairs or restoration and this Lease shall terminate as of the date that is 75 days after the later of: (i) discovery of pursue such damage or destructionwork to completion with reasonable diligence, or and (ii) carry out such work in a good and xxxxxxx-like fashion. Whenever Landlord undertakes to repair or restore the date all required Hazardous Materials Clearances are obtainedLeased Premises or the Building within a designated period of time, but Landlord such time shall retain be extended for circumstances of force majeure or other acts or events beyond the right to any Rent payable by Tenant prior to such election by Landlord or Tenant. Notwithstanding the foregoing, either Landlord or Tenant may terminate this Lease if the Premises are damaged during the last year control of the Term Landlord, including without limitation delays in obtaining permits or other governmental approvals, shortages of materials or labor, and Landlord reasonably estimates that it will take more than 2 months to repair such damagedelays and defaults of contractors, vendors, or if insurance proceeds are not available for such restorationsuppliers.

Restoration by Landlord. If, at any time during the Term, the Project or the Premises are damaged or destroyed by a fire or other insured casualty (“Casualty”)Unless this Lease is terminated as set forth above, Landlord shall notify Tenant within 60 days after discovery (a) repair or restore the damaged portions of the Leased Premises with reasonable speed, subject to reasonable delays for adjusting losses under insurance policies and Force Majeure and (b) this Lease shall remain in effect as set forth in Paragraph VIII.A above. In such Casualty as event, running of Lease Years and Operating Years will be tolled while Rent is abated and the stated expiration date of the Term shall automatically be extended for the period of time equal to the amount of time Landlord reasonably estimates it will take to restore the Project or the Premises, as applicable (the “Restoration Period”). If the Restoration Period is estimated to exceed 12 months (the “Maximum Restoration Period”), Landlord may, in such notice, elect to terminate this Lease as of the date that is 75 days after period between the date of discovery the damage or destruction until the date the Leased Premises are sufficiently repaired or restored so that they can be beneficially used for the uses permitted by this Lease. Tenant agrees that after completion of such work by Landlord, Tenant will, at Tenant’s sole cost and expense, repair and replace all alterations, additions, improvements, fixtures, signs and equipment installed by Tenant prior to the date of damage or destruction; provided. Notwithstanding the foregoing, however, that notwithstanding in the event the restoration of the affected Building is not substantially completed within the earlier of (i) eighteen (18) months following the date of Landlord’s election receipt of insurance proceeds from the insurer of the Building, or (ii) the estimated restoration period, measured from the date of Landlord’s receipt of insurance proceeds from the insurer of the Building, provided by Landlord’s Architect pursuant to restoreParagraph VIII.B., each such deadline subject to extension caused by Force Majeure, then Tenant may elect shall have the right to terminate this Lease by written notice to Landlord delivered within 5 business days of receipt of a notice from at any time until Landlord estimating a Restoration Period for substantially completes the Premises longer than the Maximum Restoration Period. Unless either Landlord or Tenant so elects to terminate this Lease, upon receipt of sufficient insurance proceeds, Landlord shall promptly restore the Premises (excluding the improvements installed by Tenant or by Landlord and paid for by Tenant unless covered by the insurance Landlord maintains as an Operating Expense hereunder, in which case such improvements shall be included, to the extent of such insurance proceeds, in Landlord’s restoration), subject to delays arising from the collection of insurance proceeds, from Force Majeure events or as needed to obtain any license, clearance or other authorization of any kind required to enter into and restore the Premises issued by any Governmental Authority having jurisdiction over the use, storage, handling, treatment, generation, release, disposal, removal or remediation of Hazardous Materials (as defined in Section 30 hereof) in, on or about the Premises (collectively referred to herein as “Hazardous Materials Clearances”); provided, however, that if repair or restoration of the Premises is not substantially complete as of the end of the Maximum Restoration Period or, if longer, the Restoration Period, Landlord may, in its sole and absolute discretion, elect not to proceed with such repair and restoration, or Tenant may by written notice to Landlord delivered within 5 business days of the expiration of the Maximum Restoration Period or, if longer, the Restoration Period, elect to terminate this Lease, in which event Landlord shall be relieved of its obligation to make such repairs or restoration and this Lease shall terminate as of the date that is 75 days after the later of: (i) discovery of such damage or destruction, or (ii) the date all required Hazardous Materials Clearances are obtained, but Landlord shall retain the right to any Rent payable by Tenant prior to such election by Landlord or Tenant. Notwithstanding the foregoing, either Landlord or Tenant may terminate this Lease if the Premises are damaged during the last year of the Term and Landlord reasonably estimates that it will take more than 2 months to repair such damage, or if insurance proceeds are not available for such restoration.

Restoration by Landlord. If(a) In the event the whole or any part of the Demised Premises shall, at any time during the Lease Term, the Project or the Premises are be damaged or destroyed by a fire or other insured casualty (“Casualty”)casualty, and this Lease is not terminated pursuant to the terms of Section 12.2 hereof, Landlord shall notify Tenant within 60 days after discovery of such Casualty as to the amount of time Landlord reasonably estimates it will take to restore the Project or the Premises, as applicable (the “Restoration Period”). If the Restoration Period is estimated to exceed 12 months (the “Maximum Restoration Period”), Landlord may, in such notice, elect to terminate this Lease as of the date that is 75 days after the date of discovery of such damage or destruction; provided, however, that notwithstanding Landlord’s election to restore, Tenant may elect to terminate this Lease by written notice to Landlord delivered within 5 business days of receipt of a notice from Landlord estimating a Restoration Period for the Premises longer than the Maximum Restoration Period. Unless either Landlord or Tenant so elects to terminate this Lease, upon receipt of sufficient insurance proceeds, Landlord shall promptly restore the Premises (excluding the improvements installed by Tenant or by Landlord and paid for by Tenant unless covered by the insurance Landlord maintains as an Operating Expense hereunder, in which case such improvements shall be includedshall, to the extent of such insurance proceeds, in Landlord’s restoration), subject to delays arising from the collection of insurance proceeds, from Force Majeure events or proceeds received by Landlord as needed to obtain any license, clearance or other authorization of any kind required to enter into and restore the Premises issued by any Governmental Authority having jurisdiction over the use, storage, handling, treatment, generation, release, disposal, removal or remediation of Hazardous Materials (as defined in Section 30 hereof) in, on or about the Premises (collectively referred to herein as “Hazardous Materials Clearances”); provided, however, that if repair or restoration of the Premises is not substantially complete as of the end of the Maximum Restoration Period or, if longer, the Restoration Period, Landlord may, in its sole and absolute discretion, elect not to proceed with such repair and restoration, or Tenant may by written notice to Landlord delivered within 5 business days of the expiration of the Maximum Restoration Period or, if longer, the Restoration Period, elect to terminate this Lease, in which event Landlord shall be relieved of its obligation to make such repairs or restoration and this Lease shall terminate as of the date that is 75 days after the later of: (i) discovery a result of such damage or destruction, repair, restore and/or rebuild the Demised Premises or (ii) damaged portions thereof, substantially to the condition and character existing as of the date all required Hazardous Materials Clearances on which the possession of the Demised Premises was delivered to Tenant within one hundred fifty (150) days of the date which Landlord makes a determination as to rebuild the Demised Premises. In the event the repairs are obtainednot completed within such one hundred fifty (150) days, but Landlord Tenant shall retain have the right to terminate by serving a thirty (30) day written notice upon Landlord of its intentions. However, Landlord shall have the right, within such thirty (30) day period, to deliver the repaired Demised Premises to Tenant, in which case, Tenant's notice of termination shall be null, void and the Lease shall continue in full force and effect. If Landlord does not complete such repairs within such thirty (30) day period, this Lease shall be null, void and of no further force and effect, except to the extent of items which are to survive lease termination. (b) In the event the whole of, or any Rent payable portion of, the Common Areas shall, during the Lease Term, be damaged or destroyed by Tenant fire or other casualty, and this Lease is not terminated pursuant to the provisions of Section 12.2 hereof, Landlord shall, to the extent of insurance proceeds received by Landlord as a result of such damage or destruction, repair, restore and/or rebuild the Common Areas to substantially their condition and character immediately prior to such election damage. (c) In no event shall Landlord be required to repair or replace Tenant's merchandise, inventory, trade fixtures, furnishings, equipment, leasehold improvements (unless installed by Landlord or Tenant. Notwithstanding the foregoing, either Landlord or Tenant may terminate this Lease if the Premises are damaged during the last year as part of the Term and Landlord reasonably estimates that it will take more than 2 months to repair such damage, Tenant Improvements) or if insurance proceeds are not available for such restorationother items of personal property of Tenant.