Tenant’s Election. Notwithstanding anything to the contrary contained in this Article 12, Tenant may elect to terminate this Lease in the event the Premises are damaged or destroyed and, in the reasonable opinion of Landlord's architect or construction consultants, the restoration of the Premises cannot be substantially completed within ninety (90) days after the event of damage or destruction. Tenant's election shall be made by written notice to Landlord within ten (10) days after Tenant receives from Landlord the estimate of the time needed to complete repair or restoration of the Premises. If Tenant does not deliver said notice within said ten (10) day period, Tenant may not later terminate this Lease even if substantial completion of the rebuilding or restoration occurs subsequent to said ninety (90) day period, provided that Landlord is proceeding with diligence to rebuild or restore the Premises. If Tenant delivers said notice within said ten (10) day period, this Lease shall terminate as of the date of the event of damage or destruction.
Tenant’s Election. Within thirty (30) days after receipt of Tenant’s notice of exercise, Landlord shall notify Tenant in writing of Landlord’s estimate of the Base Monthly Rent for the applicable extension period, based on the provisions of Paragraph 15.2 above. Within thirty (30) days after receipt of such notice from Landlord, Tenant shall have the right either to (i) accept Landlord’s statement of Base Monthly Rent as the Base Monthly Rent for the applicable extension period; or (ii) elect to arbitrate Landlord’s estimate of Fair Market Rent, such arbitration to be conducted pursuant to the provisions hereof. Failure on the part of Tenant to require arbitration of Fair Market Rent within such 30 day period shall constitute acceptance of the Base Monthly Rent for the applicable extension period as calculated by Landlord. If Tenant elects arbitration, the arbitration shall be concluded within 90 days after the date of Tenant’s election, subject to extension for an additional 30 day period if a third arbitrator is required and does not act in a timely manner. To the extent that arbitration has not been completed prior to the expiration of any preceding period for which Base Monthly Rent has been determined, Tenant shall pay Base Monthly Rent at the rate calculated by Landlord, with the potential for an adjustment to be made once Fair Market Rent is ultimately determined by arbitration.
Tenant’s Election. Notwithstanding anything to the contrary contained in this Article 11, Tenant may elect to terminate this Lease in the event the Premises are damaged or destroyed and, in the reasonable opinion of Landlord's architect or construction consultant, the repair or restoration of the Premises cannot be substantially completed within three hundred sixty (360) days, or cannot be commenced within one hundred eighty (180) days following the event of damage or destruction. Xxxxxx's election shall be made by written notice to Landlord given within ten (10) days following Xxxxxx's receipt from Landlord of the estimate of the time required to complete the repair or restoration of the Premises which Landlord shall deliver within thirty (30) days after the occurrence of the event of damage or destruction. If Tenant does not deliver such notice within such ten-day period, Tenant may not later terminate this Lease even if substantial completion of the rebuilding or restoration occurs subsequent to such 360-day period, provided that Landlord is proceeding with diligence to rebuild or restore the Premises and has commenced such rebuilding and restoration within the 180-day period provided for above. If Tenant delivers such notice within such ten-day period, this Lease shall terminate as of the date of occurrence of the event of damage or destruction.
Tenant’s Election. If the Premises are damaged by any casualty, or if any portion of the Outside Area is damaged by a casualty to such an extent that the Premises is no longer useable by Tenant, in Tenant’s reasonable opinion, and if, in Landlord’s reasonable opinion, such casualty cannot be repaired or restored within one hundred eighty (180) days after commencement of such work, then Tenant may, by written notice delivered to Landlord at any time within thirty (30) days after such damage, terminate this Lease as of the future date specified in such notice, which date shall not be less than thirty (30) nor more than sixty (60) days after the date of Tenant’s delivery of such notice. If notice of termination is so given, this Lease shall expire and all interests of Tenant and the Premises shall terminate on the date specified in the notice and the Monthly Rent shall be reduced in proportion to the extent, if any, to which the damage interferes with the use of the Premises by Tenant and any prepaid Monthly Rent and Operating Expenses shall be refunded to Tenant to the same extent. All insurance proceeds for the Premises shall be payable to Landlord, and Tenant shall have no interest in the proceeds.
Tenant’s Election. Further, if the whole or any material part of the Premises is taken by public authority under the power of eminent domain, or taken in any manner for any public or quasi-public use, so as to render the remaining portion of the Premises unsuitable in Tenant's reasonable opinion, for the purposes intended hereunder, upon delivery of possession to the condemning authority pursuant to the proceedings, Tenant may, at its option, terminate this Lease as to the remainder of the Premises by written notice to Landlord, such notice to be given to Landlord within sixty (60) days after Tenant receives notice of the taking. Tenant shall not have the right to terminate this Lease pursuant to the preceding sentence unless (i) the business of Tenant conducted in the portion of the Premises taken cannot, in Tenant's reasonable judgment, be carried on with substantially the same utility and efficiency in the remainder of the Premises [or any substitute space securable by Tenant pursuant to clause (ii) hereof]; and (ii) Tenant cannot secure substantially similar (in Tenant's reasonable judgment) alternate space upon the same terms and conditions as set forth in this Lease (including rental) from Landlord in the Facility. Any notice of termination shall specify a date no more than one hundred sixty (160) days after the giving of such notice as the date for such termination.
Tenant’s Election. Within ten (10) Business Days after Landlord’s delivery of an Offering Notice to Tenant, Tenant shall either (i) give Landlord written notice that Tenant elects to lease such First Offer Space (the “Acceptance Notice”), or (ii) give Landlord written notice that Tenant elects not to lease the First Offer Space (the “Refusal Notice”). If Tenant timely gives an Acceptance Notice, Landlord and Tenant shall use good faith efforts to negotiate and enter into a written amendment to this Lease incorporating such First Offer space into the Premises demised hereunder. Landlord and Tenant shall enter into such written amendment within thirty days following Landlord’s delivery to Tenant of such written amendment. Such amendment shall provide:
a. such First Offer Space shall be demised to Tenant upon delivery of the same by Landlord to Tenant (“First Offer Space Commencement Date”) through the Lease Expiration Date (the “First Offer Space Term”), and shall be considered part of the Premises, provided that all of the terms stated in the Offering Notice shall govern Tenant’s leasing of the First Offer Space, including that the Basic Rent for such First Offer Space shall be the First Offer Space Basic Rent, and appropriate adjustments shall be made to Tenant’s Share of Parking Spaces, Tenant’s Share of Operating Costs and Tenant’s Share of Taxes during the First Offer Space Term to reflect the addition of the First Offer Space to the Premises; and
b. such First Offer Space shall be leased by Tenant in its “As-Is” condition subject to Landlord’s obligation to deliver (i) the services set forth in Section 7.4 of this Lease, and (ii) the First Offer Space in accordance with the provisions of Exhibit J.
Tenant’s Election. Damage or Destruction Near End of Lease Term................. 20 15.6
Tenant’s Election. Notwithstanding anything to the contrary contained in this Paragraph 15, Tenant may elect to terminate this Lease in the event the Premises are damaged or destroyed (or so much of the Common Area is damaged or destroyed as to prevent or substantially impair the use thereof by Tenant for its intended purpose) and, in the reasonable opinion of Landlord’s architect or construction consultants, the restoration of the Premises (or Common Area, if applicable) cannot be substantially completed within two hundred ten (210) days after the event of damage or destruction. Tenant’s election shall be made by written notice to Landlord within fifteen (15) business days after Tenant receives from Landlord the estimate of the time needed to complete repair or restoration of the Premises (or Common Area, if applicable). If Tenant does not deliver said notice within said fifteen (15) business day period, Tenant may not later terminate this Lease even if substantial completion of the rebuilding or restoration occurs subsequent to said two hundred ten (210) day period, provided that Landlord is proceeding with diligence to rebuild or restore the Premises (and Common Area, if applicable); provided further, Tenant shall in any event have the right to terminate this Lease in the event that the rebuilding and restoration of the Premises (or the Common Area, to the extent so much of the Common Area is damaged or destroyed as to prevent or substantially impair the use thereof by Tenant for its intended purpose) has not been completed by the date which is three hundred (300) days following the event of damage or destruction, as such three hundred (300) day period shall be deemed extended by one day for each day that rebuilding or restoration is delayed due to a Force Majeure Delay (as defined in Exhibit C attached hereto). If Tenant delivers said notice within said fifteen (15) business day period, this Lease shall terminate as of the date of the event of damage or destruction.
Tenant’s Election. Notwithstanding anything to the contrary contained in this Paragraph 15, Tenant may elect to terminate this Lease in the event the Premises are damaged or destroyed and, in the reasonable opinion of Landlord’s architect or construction consultants, the restoration of the Premises cannot be substantially completed within two hundred ten (210) days after the event of damage or destruction. Tenant’s election shall be made by written notice to Landlord within fifteen (15) business days after Tenant receives from Landlord the estimate of the time needed to complete repair or restoration of the Premises. If Tenant does not deliver said notice within said fifteen (15) business day period, Tenant may not later terminate this Lease even if substantial completion of the rebuilding or restoration occurs subsequent to said two hundred ten (210) day period, provided that Landlord is proceeding with diligence to rebuild or restore the Premises. If Tenant delivers said notice within said fifteen (15) business day period, this Lease shall terminate as of the earlier of (i) the date specified in Tenant’s termination notice or (ii) the date that is sixty (60) days after Landlord’s receipt of such notice.
Tenant’s Election. If Landlord estimates that the necessary repairs cannot be completed within one hundred eighty (180) days after the date of Landlord’s Casualty Notice, then Tenant may elect within fifteen (15) days after receipt of Landlord’s Casualty Notice to terminate this Lease as of the date of Tenant’s notice.
