Common use of Tenant’s Election Clause in Contracts

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 (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 if: (a) a substantial portion of the event Premises has been damaged by or rendered inaccessible by a Casualty and the Casualty Notice provides that such damage cannot reasonably be repaired (as reasonably determined by Landlord) within two hundred forty (240) days after Landlord’s Casualty Notice; (b) the rebuilding Casualty was not caused by the negligence or willful misconduct of Tenant or any of the Tenant Parties; and (c) Tenant provides Landlord with written notice of its intent to terminate within thirty (30) days after the date of the Casualty Notice. Notwithstanding the foregoing, if Tenant was entitled to but elected not to exercise its right to terminate this Lease and Landlord does not substantially complete the repair and restoration of the Premises within sixty (or 60) days after the Common Areaexpiration of the estimated period of time set forth in Landlord’s Casualty Notice, which period shall be extended to the extent so much of the Common Area is damaged or destroyed as to prevent or substantially impair the use thereof any delays caused by Tenant for its intended purpose) has not been completed or delays due to insurance, then Tenant may terminate this Lease by the date which is three hundred written notice to Landlord within thirty (30030) days following after the event expiration of damage or destructionsuch period, as the same may be so extended; provided, however, if Landlord completes the subject repair and restoration prior to the expiration of such three hundred thirty (30030) day period period, Tenant’s termination of this Lease 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 null and void and of the date of the event of damage or destructionno further force and effect.

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 three hundred ten (210300) days after the event of damage or destruction. Unless Landlord provides Tenant with notice of termination under Paragraphs 15.2, 15.3, 15.5, or 15.10 hereof, Landlord shall provide Tenant with written notice within sixty (60) days after the event of damage or destruction of the estimated restoration period (including whether, in the reasonable opinion of Landlord’s architects or construction consultants, the restoration of the Premises can be substantially completed within said 300-day-period). Tenant’s election to terminate under this Paragraph 15.4 shall be made by written notice to Landlord within fifteen ten (1510) 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)Premises. If Tenant does not deliver said notice within said fifteen ten (1510) business day period, Tenant may not later terminate this Lease even if substantial completion of the rebuilding or restoration occurs subsequent to said two three hundred ten (210300) day period, provided that Landlord is proceeding with due 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)Premises. If Tenant delivers said notice within said fifteen ten (1510) business day period, this Lease shall terminate as of the date of the event of damage or destruction. Notwithstanding anything to the contrary contained in this Lease, if Landlord elects to restore the Premises and Tenant notifies Landlord that Tenant does not elect to terminate this Lease, and Landlord fails to complete the restoration within the three hundred (300) day period, as such three hundred (300) day period shall be extended one (1) day for each day that Landlord is delayed in completing such restoration due to any act, omission, negligence or willful misconduct of Tenant or any Tenant Related Parties and/or any Force Majeure Delays (as defined below), Tenant shall have the right to deliver to Landlord written notice of its election to terminate this Lease on the date that is thirty (30) days after the date of Landlord’s receipt of Tenant’s notice, and if Landlord fails to complete the restoration within the thirty (30) day period, this Lease shall terminate as of the date that is thirty (30) days after the date of Landlord’s receipt of Tenant’s notice. For purposes of the immediately preceding sentence, the term “Force Majeure Delays” shall mean any delay in the completion of the restoration of the Premises due to (i) strike, lockout, or other labor or industrial disturbance, civil disturbance, judicial order, governmental rule or regulation, act of public enemy, war, riot, sabotage, blockade, embargo, inability to secure customary materials or supplies; (ii) inability to secure building permits and approvals; (iii) delay in the restoration of the Premises despite Landlord’s diligent efforts to complete same, because of changes in any laws subsequent to the execution date of this Lease or changes in the interpretation of any such law by the applicable building department; (iv) lightning, earthquake, fire, storm, flood, washout, explosion, or (v) any other causes beyond Landlord’s reasonable control; however, such Force Majeure Delays shall not exceed ninety (90) days in the aggregate.

Tenant’s Election. Notwithstanding anything to the contrary contained in this Paragraph 15Article 9, Tenant may elect shall have the right to terminate this Lease in the event the Premises are damaged or destroyed by Casualty (or so much a) at any time within the last five (5) years of the Common Area is damaged Term and the cost to repair or destroyed as to prevent or substantially impair restore the use thereof by Tenant for its intended purposePremises would exceed twenty-five percent (25%) and, in of the reasonable opinion of Landlord’s architect or construction consultants, the restoration replacement cost of the Premises at such time, or (or Common Area, if applicableb) canthen-existing applicable law shall not be allow Tenant to restore and rebuild the Premises to substantially completed within two hundred ten (210) days after the event of same condition as existed immediately prior to the damage or destruction. Tenant’s 's election shall be made by TABLE OF CONTENTS (CONTINUED) PAGE written notice to Landlord given within fifteen thirty (1530) business days after Tenant receives following Tenant's receipt from Landlord Tenant's architect or construction consultant of the estimate of the time needed required to complete the repair or and restoration of the Premises (or Common Area, if applicable)Premises. If Tenant does not deliver said such notice within said fifteen (15) business such thirty-day period, Tenant may not later terminate this Lease even if substantial completion by reason 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)Casualty. If Tenant delivers said such notice within said fifteen (15) business such thirty-day period, then Tenant shall assign to Landlord all of Tenant's rights to the insurance proceeds with respect to such Casualty, and this Lease shall terminate effective as of the date of the event of damage or destructionsuch Casualty.