Common use of Restoration; Partial or Total Destruction of Building Clause in Contracts

Restoration; Partial or Total Destruction of Building. In the event the Building shall be partially or totally destroyed by fire or other casualty, the same shall be repaired as soon as is reasonably possible, at the expense of Landlord, unless Landlord shall elect to terminate this Lease as hereinafter provided. If damage to the Leased Premises is to such extent that the cost of restoration, as estimated by Landlord will exceed fifty percent (50%) of the replacement value of the Leased Premises (including the building standard improvements) or thirty percent (30%) of the replacement value of the Building (exclusive of the foundation) in its condition just prior to the occurrence of the damage, Landlord may, no later than the sixtieth (60th) day following such damage, give Tenant notice that it elects to terminate this Lease. If such notice shall be given: (a) This Lease shall terminate on the twentieth (20th ) day following the giving of said notice; (b) Tenant shall surrender possession of the Leased Premises on or before such termination date; and (c) The rental provided hereunder shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. Unless Landlord so elects to terminate this Lease, Landlord shall proceed with the restoration of the Leased Premises and/or the Building as soon as reasonably possible. If the damage to the Building as the result of any casualty is such that the Leased Premises cannot be used by Tenant for Tenant’s Business for a period of three (3) or more months, as estimated by Landlord, either Landlord or Tenant may cancel and terminate this Lease by giving notice of such termination to the other party within thirty (30) days after the date of such casualty. In such event of termination, all Rental shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. In no event, however, shall Tenant have the right to cancel or terminate this Lease if the gross misconduct or willful neglect of Tenant, or its agents, employees or invitees shall have contributed to the cause of such casualty.

Restoration; Partial or Total Destruction of Building. In the event the Building shall be partially or totally destroyed by fire or other casualty, the same shall be repaired as soon as is reasonably possible, at the expense of Landlord, unless Landlord shall elect to terminate this Lease as hereinafter provided. If damage to the Leased Premises is to such extent that the cost of restoration, as estimated by Landlord will exceed fifty percent (50%) of the replacement value of the Leased Premises (including the building standard improvements) or thirty percent (30%) of the replacement value of the Building (exclusive of the foundation) in its condition just prior to the occurrence of the damage, Landlord may, no later than the sixtieth (60th) day following such damage, give Tenant notice that it elects to terminate this Lease. If such notice shall be given: (a) This Lease shall terminate on the twentieth (20th 20th) day following the giving of said notice; (b) Tenant shall surrender possession of the Leased Premises on or before such termination date; and (c) The rental provided hereunder shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. Unless Landlord so elects to terminate this Lease, Landlord shall proceed with the restoration of the Leased Premises and/or the Building as soon as reasonably possible. If the damage to the Building as the result of any casualty is such that the Leased Premises cannot be used by Tenant for Tenant’s Business for a period of three (3) or more months, as estimated by Landlord, either Landlord or Tenant may cancel and terminate this Lease by giving notice of such termination to the other party within thirty (30) days after the date of such casualty. In such event of termination, all Rental shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. In no event, however, shall Tenant have the right to cancel or terminate this Lease if the gross misconduct or willful neglect of Tenant, or its agents, employees or invitees shall have contributed to the cause of such casualty.

Restoration; Partial or Total Destruction of Building. In the event the Building shall be partially or totally destroyed by fire or other casualty, the same shall be repaired to at least as close to the condition as existed prior to the casualty as is reasonably practicable and as soon as is reasonably possible, possible at the expense of Landlord, Landlord unless Landlord or Tenant shall elect to terminate this Lease as hereinafter provided. If (a) the damage to the Leased Premises is to such an extent that the cost of restoration, as estimated determined by an architect reasonably agreed to by Landlord will and Tenant, would exceed fifty percent (50%) % of the replacement value of the Leased Premises (including the building standard improvementsTenant Improvements) or thirty percent (30%) % of the replacement value of the Building (exclusive of the foundation) in its condition just prior to the occurrence of the damage, or (b) the damage to the Leased Premises and/or the Building is to such an extent that the Leased Premises and/or the Building cannot, in determination of an architect reasonably agreed to by Landlord and Tenant, adequately serve as the Permitted Use for a period of six (6) or more months, then either Landlord or Tenant may, no later than the sixtieth thirtieth (60th30th) day following such damage, give Tenant the other party written notice that it elects to terminate this Lease. If such notice shall be given: (a) This Lease shall terminate on the twentieth tenth (20th 10th) day following the giving of said notice; (b) Tenant shall surrender possession of the Leased Premises on or before such termination date; and (c) The rental obligation to pay Rent provided hereunder shall be apportioned terminated as of the date of such termination damage or destruction and any Rental Rent paid for any period beyond said date shall be refunded to TenantTenant within fifteen (15) days after exclusive possession of Tenant from the Leased Premises has been delivered to Landlord. Unless Landlord or Tenant so elects to terminate this Lease, Landlord shall proceed with the restoration of the Leased Premises and/or the Building in the manner required above as soon as reasonably possible. If In the damage event of complete or partial inability to the Building as the result of any casualty is such that use the Leased Premises cannot be used by Tenant for Tenant’s Business for a the Permitted Use during any period of three (3) or more monthsrepair and restoration, as estimated by Landlord, either Landlord or Tenant may cancel and terminate this Lease by giving notice of such termination the Rent shall be abated in proportion to the other party within thirty (30) days after the date of such casualty. In such event of termination, all Rental shall be apportioned as percentage of the date of such termination and any Rental paid Leased Premises rendered unfit for any period beyond said date shall be refunded use until the same are restored to Tenant. In no event, however, shall Tenant have the right to cancel or terminate this Lease if the gross misconduct or willful neglect of Tenant, or its agents, employees or invitees shall have contributed to the cause of such casualtyusable condition.

Restoration; Partial or Total Destruction of Building. In the event the Building shall be partially or totally destroyed by fire or other casualty, the same shall be repaired as soon as is reasonably possible, at the expense of Landlord, unless Landlord shall elect to terminate this Lease as hereinafter provided. If damage to the Leased Premises is to such extent that the cost of restoration, as estimated by Landlord will exceed fifty percent (50%) of the replacement value of the Leased Premises (including the building standard improvements) or thirty percent (30%) of the 070701 Altairnano - Flagship Business Accelerator Lease.doc replacement value of the Building (exclusive of the foundation) in its condition just prior to the occurrence of the damage, Landlord may, no later than the sixtieth (60th) day following such damage, give Tenant notice that it elects to terminate this Lease. If such notice shall be given: (a) This Lease shall terminate on the twentieth (20th 20th) day following the giving of said notice; (b) Tenant shall surrender possession of the Leased Premises on or before such termination date; and (c) The rental provided hereunder shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. Unless Landlord so elects to terminate this Lease, Landlord shall proceed with the restoration of the Leased Premises and/or the Building as soon as reasonably possible. If the damage to the Building as the result of any casualty is such that the Leased Premises cannot be used by Tenant for Tenant’s 's Business for a period of three (3) or more months, as estimated by Landlord, either Landlord or Tenant may cancel and terminate this Lease by giving notice of such termination to the other party within thirty (30) days after the date of such casualty. In such event of termination, all Rental shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. In no event, however, shall Tenant have the right to cancel or terminate this Lease if the gross misconduct or willful neglect of Tenant, or its agents, employees or invitees shall have contributed to the cause of such casualty.

Restoration; Partial or Total Destruction of Building. In the event the Building shall be partially or totally destroyed by fire or other casualty, the same shall be repaired as soon as is reasonably possible, at the expense of Landlord, unless Landlord shall elect to terminate this Lease as hereinafter provided. If damage to the Leased Premises is to such extent that the cost of restoration, as estimated by Landlord will exceed fifty percent (50%) of the replacement value of the Leased Premises (including the building standard improvements) or thirty percent (30%) of the replacement value of the Building (exclusive of the foundation) in its condition just prior to the occurrence of the damage, Landlord may, no later than the sixtieth (60th) day following such damage, give Tenant notice that it elects to terminate this Lease. If if such notice shall be given: (a) This Lease shall terminate on the twentieth (20th ) day following the giving of said notice; (b) Tenant shall surrender possession of the Leased Premises on or before such termination date; and (c) The rental provided hereunder shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. Unless Landlord so elects to terminate this Lease, Landlord shall proceed with the restoration of the Leased Premises and/or the Building as soon as reasonably possible. If the damage to the Building as the result of any casualty is such that the Leased Premises cannot be used by Tenant for Tenant’s 's Business for a period of three (3) or more months, as estimated by Landlord, either Landlord or Tenant may cancel and terminate this Lease by giving notice of such termination to the other party within thirty (30) days after the date of such casualty. In such event of termination, all Rental shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. In no event, however, shall Tenant have the right to cancel or terminate this Lease if the gross misconduct or willful neglect of Tenant, or its agents, employees or invitees shall have contributed to the cause of such casualty.

Restoration; Partial or Total Destruction of Building. In the event the Building shall be partially or totally destroyed by fire or other casualty, unless Landlord shall elect to terminate this Lease as hereinafter provided, the same shall be repaired as soon as is reasonably possible, at the expense of Landlord, unless Landlord shall elect to terminate this Lease as hereinafter providedexcept if the act of such fire or casualty was caused by any act of neglect of Tenant or its agencies, employees or invitees,. If damage to the Leased Premises is to such extent that the cost of restoration, as estimated by Landlord will exceed fifty percent (50%) of the replacement value of the Leased Premises (including the building standard improvements) or thirty percent (30%) of the replacement value of the Building (exclusive of the foundation) in its condition just prior to the occurrence of the damage, Landlord may, no later than the sixtieth (60th) day following such damage, give Tenant notice that it elects to terminate this Lease. If such notice shall be given: (a) This Lease shall terminate on the twentieth (20th ) day following the giving of said notice; (b) Tenant shall surrender possession of the Leased Premises on or before such termination date; and (c) The rental provided hereunder shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. Unless Landlord so elects to terminate this Lease, Landlord shall proceed with the restoration of the Leased Premises and/or the Building as soon as reasonably possible. If the damage to the Building as the result of any casualty is such that the Leased Premises cannot be used by Tenant for Tenant’s Business business purposes for a period of three (3) or more months, as estimated by Landlord, either Landlord or Tenant may cancel and terminate this Lease by giving notice of such termination to the other party within thirty (30) days after the date of such casualty. Notwithstanding the foregoing, Landlord may at any time after such damage request that Tenant notify Landlord of whether it intends to terminate this Lease, and if Tenant does not exercise its option to terminate this Lease within ten (10) days after receipt of such notice, then the option shall be deemed waived. In such event of termination, all Rental shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. In no event, however, shall Tenant have the right to cancel or terminate this Lease if the gross misconduct any act or willful neglect of Tenant, or its agents, employees or invitees shall have contributed to the cause of such casualty.

Restoration; Partial or Total Destruction of Building. In the event the Building shall be partially or totally destroyed by fire or other casualty, the same shall be repaired as soon as is reasonably possible, at the expense of Landlord, unless Landlord shall elect to terminate this Lease as hereinafter provided. If damage to the Leased Premises is to such extent that the cost of restoration, as estimated by Landlord will exceed fifty percent (50%) of the replacement value of the Leased Premises (including the building standard improvements) or thirty percent (30%) of the replacement value of the Building (exclusive of the foundation) in its condition just prior to the occurrence of the damage, Landlord may, no later than the sixtieth (60th) day following such damage, give Tenant notice that it elects to terminate this Lease. If such notice shall be given: (a) This Lease shall terminate on the twentieth (20th ) day following the giving of said notice; (b) Tenant shall surrender possession of the Leased Premises on or before such termination date; and (c) The rental provided hereunder shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. Unless Landlord so elects to terminate this Lease, Landlord shall proceed with the restoration of the Leased Premises and/or the Building as soon as reasonably possible. If the damage to the Building as the result of any casualty is such that the Leased Premises cannot be used by Tenant for Tenant’s Business for a period of three (3) or more months, as estimated by Landlord, either Landlord or Tenant may cancel and terminate this Lease by giving notice of such termination to the other party within thirty (30) days after the date of such casualty. Notwithstanding the foregoing, Landlord may at any time after such damage request that Tenant notify Landlord of whether it intends to terminate this Lease, and if Tenant does not exercise its option to terminate this Lease within ten (10) days after receipt of such notice, then the option shall be deemed waived. In such event of termination, all Rental shall be apportioned as of the date of such termination and any Rental paid for any period beyond said date shall be refunded to Tenant. In no event, however, shall Tenant have the right to cancel or terminate this Lease if the gross misconduct any act or willful neglect of Tenant, or its agents, employees or invitees shall have contributed to the cause of such casualty.