Common use of Substantial Destruction of the Premises Clause in Contracts

Substantial Destruction of the Premises. If the Premises should be substantially destroyed or rendered wholly untenantable for the purpose for which they were leased, by fire or other casualty and the Building is not substantially destroyed as provided above, then the parties hereto shall have the following options: (i) Tenant may require that the Tenant Finish Improvements in the Premises be reconstructed and restored, at Landlord’s expense, but subject to the availability of insurance proceeds, to substantially the same condition as existed prior to the casualty, except for repair or replacement of Tenant’s personal property, equipment, leasehold improvements and trade fixtures, which shall remain Tenant’s responsibility. This option shall be exercised by Tenant by giving written notice to Landlord within thirty (30) days after the date of the casualty, and upon the exercise thereof, rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Premises, whereupon this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions and covenants as are contained herein. Alternatively, if it is reasonably estimated by Xxxxxxxx’s architect that such reconstruction and restoration of Tenant Finish Improvements in the Premises will take more than two hundred seventy (270) days from the date of the casualty to complete, then Landlord or Tenant shall have the right and option to terminate this Lease as of the date of the casualty, which option shall be exercised by written notice to be given by such party to the other within thirty (30) days after the date of the casualty, and upon the exercise thereof, rent shall be apportioned to and shall cease as of the date of the casualty. If this Lease is not terminated, Landlord shall reconstruct and restore the Tenant Finish Improvements in the Premises to substantially the same condition as existed prior to the casualty. In such event, this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions, and covenants as are contained herein; provided, however, that the rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Tenant Finish Improvements in the Premises. If this Lease is not terminated and Landlord fails to reconstruct and restore the Tenant Finish Improvements in the Premises within two hundred seventy (270) days from the date of the casualty, then Tenant may, at its option, terminate this Lease upon giving Landlord written notice to that effect before the earlier of (i) the three hundredth (300th) day following the date of the casualty or (ii) the date the repair is completed, whereupon rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder, except those which survive termination. (ii) If the casualty occurs during the last twelve (12) months of the Term, either party shall have the right and option to terminate its Lease as of the date of the casualty, which option shall be exercised by written notice to be given by either party to the other party within thirty (30) days therefrom. If this option is exercised, rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder except those obligations which survive termination of this Lease.

Substantial Destruction of the Premises. If the Premises should be substantially destroyed destroyed, or rendered wholly untenantable for the purpose for which they were leased, by fire or other casualty and the Building is not substantially destroyed as provided above, then the parties hereto shall have the following options: (i) Tenant may require that the Tenant Finish Improvements in the Premises be reconstructed and restored, at Landlord’s 's expense, but subject to the availability of insurance proceeds, to substantially the same condition as existed they were prior to the casualty, except for repair or replacement of Tenant’s 's personal property, equipment, leasehold improvements equipment and trade fixtures, which shall remain Tenant’s 's responsibility. This option shall be exercised by Tenant by giving written notice to Landlord within thirty (30) days after the date of the casualty, and upon the exercise thereof, thereof rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Premises, whereupon this Lease shall continue in full force and effect for the balance of the Term Terra upon the same terms, conditions and covenants as are contained herein. AlternativelyIf this option is not so exercised by Tenant, if it is reasonably estimated by Xxxxxxxx’s architect that such reconstruction and restoration of Tenant Finish Improvements in the Premises will take more than two hundred seventy (270) days from the date of the casualty to complete, Landlord shall then Landlord or Tenant shall have the right and option option, to terminate this Lease as of the date of the casualty, which option shall be exercised by written notice to be given by such party to the other within thirty (30) days after following the date expiration of Tenant's option period, by the casualtygiving of written notice to Tenant, and upon the exercise thereof, rent shall be apportioned to and shall cease as of the date of the casualty. If this Lease is not terminated, Landlord shall reconstruct and restore the Tenant Finish Improvements in the Premises to substantially the same condition as existed they were prior to the casualtycasualty or, Landlord, at its option, shall make available reasonably comparable space in the Building to accommodate Tenant. In either such event, this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions, and covenants as are contained herein; provided, however, that the rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Premises or notice by Landlord that comparable space is ready for Tenant Finish Improvements in the Premisesto occupy. If this Lease is not terminated and Landlord fails to reconstruct and restore the Tenant Finish Improvements in the Premises within two hundred seventy (270) days from exercise either of these aforementioned options, this Lease shall be terminated as of the date of the casualty, then Tenant may, at its option, terminate this Lease upon giving Landlord written notice to that effect before the earlier of (i) the three hundredth (300th) day following the which date of the casualty or (ii) the date the repair is completed, whereupon rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder, except those which survive terminationcease. (ii) If the casualty occurs during the last twelve (12) months of the Term, either party shall have the right and option to terminate its Lease as of the date of the casualty, which option shall be exercised by written notice to be he given by either party to the other oilier party within thirty (30) days therefrom. If this option is exercised, rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder except those obligations which survive termination of this Leasecasualty.

Substantial Destruction of the Premises. If the Premises should be substantially destroyed destroyed, or rendered wholly untenantable for the purpose for which they were leased, by fire or other casualty and the Building is not substantially destroyed as provided above, then the parties hereto shall have the following options: (i) Tenant may require that the Tenant Finish Improvements in the Premises be reconstructed and restored, at Landlord’s 's expense, but subject to the availability of insurance proceeds, to substantially the same condition as existed they were prior to the casualty, except for repair or replacement of Tenant’s 's personal property, equipment, leasehold improvements equipment and trade fixtures, which shall remain Tenant’s 's responsibility. This option shall be exercised by Tenant by giving written notice to Landlord within thirty (30) days after the date of the casualty, and upon the exercise thereof, thereof rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Premises, whereupon this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions and covenants as are contained herein. AlternativelyIf this option is not so exercised by Tenant, if it is reasonably estimated by Xxxxxxxx’s architect that such reconstruction and restoration of Tenant Finish Improvements in the Premises will take more than two hundred seventy (270) days from the date of the casualty to complete, Landlord shall then Landlord or Tenant shall have the right and option option, to terminate this Lease as of the date of the casualty, which option shall be exercised by written notice to be given by such party to the other within thirty (30) days after following the date expiration of Tenant's option period, by the casualtygiving of written notice to Tenant, and upon the exercise thereof, rent shall be apportioned to and shall cease as of the date of the casualty. If this Lease is not terminated, Landlord shall reconstruct and restore the Tenant Finish Improvements in the Premises to substantially the same condition as existed they were prior to the casualtycasualty or, Landlord, at its option, shall make available reasonably comparable space in the Project to accommodate Tenant. In either such event, this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions, and covenants as are contained herein; provided, however, that the rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Premises or notice by Landlord that comparable space is ready for Tenant Finish Improvements in the Premisesto occupy. If this Lease is not terminated and Landlord fails to reconstruct and restore the Tenant Finish Improvements in the Premises within two hundred seventy (270) days from exercise either of these aforementioned options, this Lease shall be terminated as of the date of the casualty, then Tenant may, at its option, terminate this Lease upon giving Landlord written notice to that effect before the earlier of (i) the three hundredth (300th) day following the which date of the casualty or (ii) the date the repair is completed, whereupon rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder, except those which survive terminationcease. (ii) If the casualty occurs during the last twelve (12) months of the Term, either party shall have the right and option to terminate its Lease as of the date of the casualty, which option shall be exercised by written notice to be given by either party to the other party within thirty (30) days therefrom. If this option is exercised, rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder except those obligations which survive termination of this Leasecasualty.

Substantial Destruction of the Premises. If the Premises should be are substantially destroyed (which, as used herein, means destruction or damage to at least seventy-five percent (75%) of the Premises), or rendered wholly untenantable for the purpose for which they were leased, by fire or other casualty and whether or not the Building Conference Center is not substantially destroyed as provided above, then the parties hereto shall have the following options: (i1) Tenant may elect to terminate the Lease or to require that the Tenant Finish Improvements in the Premises be reconstructed and restored, at Landlord’s 's expense, but subject to the availability of insurance proceeds, to substantially the same condition as the Premises existed prior to the casualty, except for repair or replacement of Tenant’s 's Improvements, Tenant's personal property, equipment, leasehold improvements equipment and trade fixtures, which shall remain Tenant’s 's responsibility. In the event that Tenant requires that the Premises be reconstructed and restored, Landlord shall not be required to expend for reconstruction and restoration any amount in excess of insurance proceeds received by Landlord as a result of such casualty loss. This option shall be exercised by Tenant by giving written notice to Landlord within thirty sixty (3060) days after the date of the casualty, and upon the exercise thereof, rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Premises, whereupon this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions and covenants as are contained herein. Alternatively, if it is reasonably estimated by Xxxxxxxx’s architect that such reconstruction Base Rent and restoration of Tenant Finish Improvements in the Premises will take more than two hundred seventy (270) days from the date of the casualty to complete, then Landlord or Tenant Additional Rent shall have the right and option to terminate this Lease be equitably abated as of the date of the such casualty, which option shall be exercised by written notice to be given by such party to the other within thirty (30) days after the date of the casualty, and upon the exercise thereof, rent shall be apportioned to and shall cease as of the date of the casualty. If this Lease is not terminated, Landlord shall reconstruct and restore the Tenant Finish Improvements in the Premises to substantially the same condition as existed prior to the casualty. In such event, this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions, and covenants as are contained herein; provided, however, that the rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Tenant Finish Improvements in the Premises. If this Lease is not terminated and Landlord fails to reconstruct and restore the Tenant Finish Improvements in the Premises within two hundred seventy (270) days from the date of the casualty, then Tenant may, at its option, terminate this Lease upon giving Landlord written notice to that effect before the earlier of (i) the three hundredth (300th) day following the date of the casualty or (ii) the date the repair is completed, whereupon rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder, except those which survive termination. (ii2) If the casualty occurs during the last twelve (12) months of the Term, either party shall have the right and option to terminate its Lease as of the date of the casualty, which option shall be exercised by written notice to be given by either party to the other party within thirty (30) days therefrom. If this option is exercised, rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder except those obligations which survive termination of this Leasecasualty.

Substantial Destruction of the Premises. If the Premises should be substantially destroyed destroyed, or rendered wholly untenantable for the purpose for which they were leased, by fire or other casualty and the Building Project is not substantially destroyed as provided above, then the parties hereto shall have the following options: (i) Tenant may require that the Tenant Finish Improvements in the Premises be reconstructed and restored, at Landlord’s expense, but subject to the availability of insurance proceeds, to substantially the same condition as existed they were prior to the casualty, except for repair or replacement of Tenant’s personal property, equipment, leasehold improvements equipment and trade fixtures, which shall remain Tenant’s responsibility. This option shall be exercised by Tenant by giving written notice to Landlord within thirty (30) days after the date of the casualty, and upon the exercise thereof, thereof rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Premises, whereupon this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions and covenants as are contained herein. AlternativelyIf this option is not so exercised by Tenant, if it is reasonably estimated by Xxxxxxxx’s architect that such reconstruction and restoration of Tenant Finish Improvements in the Premises will take more than two hundred seventy (270) days from the date of the casualty to complete, Landlord shall then Landlord or Tenant shall have the right and option option, to terminate this Lease as of the date of the casualty, which option shall be exercised by written notice to be given by such party to the other within thirty (30) days after following the date expiration of Tenant’s option period, by the casualtygiving of written notice to Tenant, and upon the exercise thereof, rent shall be apportioned to and shall cease as of the date of the casualty. If this Lease is not terminated, Landlord shall reconstruct and restore the Tenant Finish Improvements in the Premises to substantially the same condition as existed they were prior to the casualtycasualty or, Landlord, at its option, shall make available reasonably comparable space in the Project to accommodate Tenant. In either such event, this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions, and covenants as are contained herein; provided, however, that the rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Premises or notice by Landlord that comparable space is ready for Tenant Finish Improvements in the Premisesto occupy. If this Lease is not terminated and Landlord fails to reconstruct and restore the Tenant Finish Improvements in the Premises within two hundred seventy (270) days from exercise either of these aforementioned options, this Lease shall be terminated as of the date of the casualty, then Tenant may, at its option, terminate this Lease upon giving Landlord written notice to that effect before the earlier of (i) the three hundredth (300th) day following the which date of the casualty or (ii) the date the repair is completed, whereupon rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder, except those which survive terminationcease. (ii) If the casualty occurs during the last twelve (12) months of the Term, either party shall have the right and option to terminate its Lease as of the date of the casualty, which option shall be exercised by written notice to be given by either party to the other party within thirty (30) days therefrom. If this option is exercised, rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder except those obligations which survive termination of this Leasecasualty.

Substantial Destruction of the Premises. If the Premises should be substantially destroyed or rendered wholly untenantable for the purpose for which they were leased, by fire or other casualty and the Building is not substantially destroyed as provided above, then the parties hereto shall have the following options: (i) Tenant may require that the Tenant Finish Improvements Landlord’s Work in the Premises be reconstructed and restored, at Landlord’s expense, but subject to the availability of insurance proceeds, to substantially the same condition as existed prior to the casualty, except for repair or replacement of Tenant’s personal property, equipment, leasehold improvements and trade fixtures, which shall remain Tenant’s responsibility. This option shall be exercised by Tenant by giving written notice to Landlord within thirty (30) days after the date of the casualty, and upon the exercise thereof, rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Premises, whereupon this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions and covenants as are contained herein. AlternativelyIf this option is not so exercised by Tenant, if it is reasonably estimated by Xxxxxxxx’s architect that such reconstruction and restoration of Tenant Finish Improvements in the Premises will take more than two hundred seventy (270) days from the date of the casualty to complete, Landlord shall then Landlord or Tenant shall have the right and option option, to terminate this Lease as of the date of the casualty, which option shall be exercised by written notice to be given by such party to the other within thirty (30) days after following the date expiration of the casualtyTenant’s option period, and upon the exercise thereofby giving of written notice to Tenant, rent shall be apportioned to and shall cease as of the date of the casualty. If this Lease is not terminated, Landlord shall reconstruct and restore the Tenant Finish Improvements Landlord’s Work in the Premises to substantially the same condition as existed prior to the casualty, or Landlord, at its option, shall make available reasonably comparable space in the Building to accommodate Tenant. In either such event, this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions, and covenants as are contained herein; provided, however, that the rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Tenant Finish Improvements Landlord’s Work in the PremisesPremises or notice by Landlord that comparable space is ready for Tenant to occupy. If this Lease is not terminated and Landlord fails to reconstruct and restore the Tenant Finish Improvements in the Premises within two hundred seventy (270) days from exercise either of these aforementioned options, this Lease shall be terminated as of the date of the casualty, then Tenant may, at its option, terminate this Lease upon giving Landlord written notice to that effect before the earlier of (i) the three hundredth (300th) day following the which date of the casualty or (ii) the date the repair is completed, whereupon rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder, except those which survive terminationcease. (ii) If the casualty occurs during the last twelve (12) months of the Term, either party shall have the right and option to terminate its Lease as of the date of the casualty, which option shall be exercised by written notice to be given by either party to the other party within thirty (30) days therefrom. If this option is exercised, rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder except those obligations which survive termination of this Leasecasualty.

Substantial Destruction of the Premises. If the Premises should be are substantially destroyed (which, as used herein, means destruction or damage to at least 75% of the Premises), or rendered wholly untenantable for the purpose for which they were leased, by fire or other casualty and whether or not the Development Building is not substantially destroyed as provided above, then the parties hereto shall have the following options: (i1) Tenant may elect to terminate the Lease or to require that the Tenant Finish Improvements in the Premises be reconstructed and restored, at Landlord’s expense, but subject to the availability of insurance proceeds, to substantially the same condition as the Premises existed prior to the casualty, except for repair or replacement of Tenant’s Improvements, Tenant’s personal property, equipment, leasehold improvements equipment and trade fixtures, which shall remain Tenant’s responsibility. In the event that Tenant requires that the Premises be reconstructed and restored, Landlord shall not be required to expend for reconstruction and restoration any amount in excess of insurance proceeds received by Landlord as a result of such casualty loss. This option shall be exercised by Tenant by giving written notice to Landlord within thirty (30) sixty days after the date of the casualty, and upon the exercise thereof, rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Premises, whereupon this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions and covenants as are contained herein. Alternatively, if it is reasonably estimated by Xxxxxxxx’s architect that such reconstruction Base Rent and restoration of Tenant Finish Improvements in the Premises will take more than two hundred seventy (270) days from the date of the casualty to complete, then Landlord or Tenant Additional Rent shall have the right and option to terminate this Lease be equitably abated as of the date of the such casualty, which option shall be exercised by written notice to be given by such party to the other within thirty (30) days after the date of the casualty, and upon the exercise thereof, rent shall be apportioned to and shall cease as of the date of the casualty. If this Lease is not terminated, Landlord shall reconstruct and restore the Tenant Finish Improvements in the Premises to substantially the same condition as existed prior to the casualty. In such event, this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions, and covenants as are contained herein; provided, however, that the rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Tenant Finish Improvements in the Premises. If this Lease is not terminated and Landlord fails to reconstruct and restore the Tenant Finish Improvements in the Premises within two hundred seventy (270) days from the date of the casualty, then Tenant may, at its option, terminate this Lease upon giving Landlord written notice to that effect before the earlier of (i) the three hundredth (300th) day following the date of the casualty or (ii) the date the repair is completed, whereupon rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder, except those which survive termination. (ii2) If the casualty occurs during the last twelve (12) months of the Term, either party shall have the right and option to terminate its Lease as of the date of the casualty, which option shall be exercised by written notice to be given by either party to the other party within thirty (30) days therefrom. If this option is exercised, rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder except those obligations which survive termination of this Leasecasualty.

Substantial Destruction of the Premises. If the Premises should be are substantially destroyed (which, as used herein, means destruction or damage to at least seventy-five percent (75%) of the Premises), or rendered wholly untenantable for the purpose for which they were leased, by fire or other casualty and whether or not the Fab I Building is not substantially destroyed as provided above, then the parties hereto shall have the following options: (i1) Tenant may elect to terminate the Lease or to require that the Tenant Finish Improvements in the Premises be reconstructed and restored, at Landlord’s 's expense, but subject to the availability of insurance proceeds, to substantially the same condition as the Premises existed prior to the casualty, except for repair or replacement of Tenant’s 's Improvements, Tenant's personal property, equipment, leasehold improvements equipment and trade fixtures, which shall remain Tenant’s 's responsibility. In the event that Tenant requires that the Premises be reconstructed and restored, Landlord shall not be required to expend for reconstruction and restoration any amount in excess of insurance proceeds received by Landlord as a result of such casualty loss. This option shall be exercised by Tenant by giving written notice to Landlord within thirty sixty (3060) days after the date of the casualty, and upon the exercise thereof, rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Premises, whereupon this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions and covenants as are contained herein. Alternatively, if it is reasonably estimated by Xxxxxxxx’s architect that such reconstruction Base Rent and restoration of Tenant Finish Improvements in the Premises will take more than two hundred seventy (270) days from the date of the casualty to complete, then Landlord or Tenant Additional Rent shall have the right and option to terminate this Lease be equitably abated as of the date of the such casualty, which option shall be exercised by written notice to be given by such party to the other within thirty (30) days after the date of the casualty, and upon the exercise thereof, rent shall be apportioned to and shall cease as of the date of the casualty. If this Lease is not terminated, Landlord shall reconstruct and restore the Tenant Finish Improvements in the Premises to substantially the same condition as existed prior to the casualty. In such event, this Lease shall continue in full force and effect for the balance of the Term upon the same terms, conditions, and covenants as are contained herein; provided, however, that the rent shall be abated from the date of the casualty until substantial completion of the reconstruction of the Tenant Finish Improvements in the Premises. If this Lease is not terminated and Landlord fails to reconstruct and restore the Tenant Finish Improvements in the Premises within two hundred seventy (270) days from the date of the casualty, then Tenant may, at its option, terminate this Lease upon giving Landlord written notice to that effect before the earlier of (i) the three hundredth (300th) day following the date of the casualty or (ii) the date the repair is completed, whereupon rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder, except those which survive termination. (ii2) If the casualty occurs during the last twelve (12) months of the Term, either party shall have the right and option to terminate its Lease as of the date of the casualty, which option shall be exercised by written notice to be given by either party to the other party within thirty (30) days therefrom. If this option is exercised, rent shall be apportioned to and shall cease as of the date of the casualty and both parties shall be released from all further obligations and liability hereunder except those obligations which survive termination of this Leasecasualty.