Common use of Tenant’s Option to Terminate Clause in Contracts

Tenant’s Option to Terminate. If a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after the Casualty (the "Repair Period"), or b) the Casualty to the Premises occurs during the last twelve (12) months of the Term; then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); or within thirty (30) days after the Casualty, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove within the Repair Period, and d) farther provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS after expiration of the Repair Period. Tenant's failure to provide Landlord with Tenant's Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 2 contracts

Samples: Office Lease (Platinum Studios, Inc.), Office Lease (Platinum Studios, Inc.)

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Tenant’s Option to Terminate. If (a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty Within forty-five (18045) days after the Casualty notice to Landlord of any damage described in Section 12.1 hereof, Landlord shall deliver to Tenant a statement prepared by a reputable contractor (the "Repair PeriodContractor's Statement"), or b) the Casualty setting forth such contractor's estimate as to the Premises occurs during time required to repair such damage. If the last twelve estimated time period exceeds nine (129) months from the date of the Term; then such statement, Tenant shall have the option, but not the obligation, may elect to terminate this Lease by providing written notice ("Tenant's Termination Notice") to Landlord within not later than thirty (30) days following receipt of such statement. If Tenant makes such election, the Term shall expire upon a date set by Tenant, but not sooner than the tenth (10th) day nor later than the sixtieth (60th) day after receiving notice of such election is given by Tenant, and Tenant shall vacate the Repair Period Notice Premises and surrender the same to Landlord in accordance with the case provisions of 12.4 Section 24.21 hereof If Tenant shall not have elected to terminate this Lease pursuant to this Article 12 (aor is not entitled to terminate this Lease pursuant to this Article 12); , the damage shall be diligently repaired by and at the expense of Landlord as set forth in Section 12.1 hereof Except as expressly set forth in this Section 12.3(a), Tenant shall have no other options to cancel this Lease under this Article 12. (b) Notwithstanding the foregoing, if the Premises shall be substantially damaged during the last two (2) years of the Term and the Contractor's Statement indicates that the estimated time required to repair such damage equals or exceeds nine (9) months, either party may elect by notice, given within thirty (30) days after the Casualty, in the case occurrence of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove within the Repair Period, and d) farther provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligationsuch damage, to terminate this Lease by giving Landlord written and if either party makes such election, the Term shall expire upon the thirtieth (30th) day after notice of its intention such election is given, and Tenant shall vacate the Premises and surrender the same to so terminate, which notice shall be given not more than forty-five (45) dayS after expiration Landlord in accordance with the provisions of the Repair Period. Tenant's failure to provide Landlord with Tenant's Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.Section 24.21 hereof

Appears in 2 contracts

Samples: Office Lease (Tufin Software Technologies Ltd.), Office Lease (Tufin Software Technologies Ltd.)

Tenant’s Option to Terminate. If: (a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after the Casualty (the "Repair Period"), oror [***] = CONFIDENTIAL INFORMATION HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THIS OMITTED INFORMATION. (b) the Casualty to the Premises occurs during the last twelve (12) months of the Term; then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's ’s Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); or within thirty (30) days after it has notice of the Casualty, in the case of Section 12.4 (b). Furthermore, if: (c) Landlord does not complete the repairs required hcreinabove hereinabove within the Repair Period, and (d) farther further provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and (e) Landlordhas Landlord has not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS days after expiration of the Repair Period. Tenant's ’s failure to provide Landlord with Tenant's ’s Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 2 contracts

Samples: Office Lease (Blackline, Inc.), Office Lease (Blackline, Inc.)

Tenant’s Option to Terminate. If a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after the Casualty (the "Repair Period"), or b) the The Casualty to the Premises occurs during the last twelve (( 12) months of the Term; then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); or within thirty (30) days after the Casualty, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove hereinabove within the Repair Period, and d) farther further provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas Landlord has not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS days after expiration of the Repair Period. Tenant's failure to provide Landlord with Tenant's Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 1 contract

Samples: Office Lease (Stan Lee Media Inc)

Tenant’s Option to Terminate. If a) If the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) 180 days after from the Casualty (the "Repair Period"), or b) the Casualty to the Premises occurs during the last twelve (12) months date of the Term; then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); the Corporate Office Space or within thirty (30) 60 days after from the Casualty, date of the Repair Period Notice in the case of Section 12.4 (b). Furthermoreeither the Sound Stages or Production Office Space, if: c) Landlord does not complete the repairs required hcreinabove within the Repair Period, and d) farther provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, may elect to terminate this Lease as to the portion of the Leased Premises affected by giving Landlord such Casualty only or the entire Lease by providing written notice of its intention (“Tenant’s Termination Notice”) to so terminateLandlord within 30 days after receiving the Repair Period Notice; provided, however, that Landlord shall have the right to provide, at no additional cost or expense to Tenant, replacement space within the Project reasonably satisfactory in all respects to Tenant, in which notice event Tenant shall not have any right to terminate this Lease. If Tenant does not elect to terminate within this 30-day period, Tenant shall be given considered to have waived the option to terminate. Landlord shall not more than forty-five (45) dayS be required to commence repairs to the Leased Premises unless and until Tenant elects or is deemed to have elected not to terminate this Lease. In the event that any modifications to the Leased Premises, required by building codes or other Laws, prevent Tenant from conducting its business in substantially the same manner as before the Casualty, Tenant may elect to terminate this Lease within 30 days after expiration receiving notice of such modification(s). Notwithstanding anything to the contrary in this Section 15.4 or this Lease, if the Casualty was the result of the Repair Period. negligence or willful misconduct of Tenant or Tenant's failure to provide Landlord with Tenant's Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that ’s employees, contractors, licensees, subtenants or invitees, Tenant has waived its option may not elect to terminate this Lease.

Appears in 1 contract

Samples: Lease (Marvel Entertainment, Inc.)

Tenant’s Option to Terminate. If: a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after the Casualty commencement of the repairs (the "‘‘Repair Period"), or b) the Casualty to the Premises occurs during the last twelve (12) months of the TermTerm and the anticipated period for repairing the Casualty exceeds sixty (60) days after the commencement of repairs as such repair period is set forth in a notice from Landlord to Tenant given within thirty (30) days after the Casualty (the “End of Term Notice”); then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's ’s Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a12.4(a); or within thirty (30) days after receiving the CasualtyEnd of Term Notice, in the case of Section 12.4 (b12.4(b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove within the Repair Periodif for reasons other than force majeure, and d) farther provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas not completed the repairs thereafter on or before the date which is thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS days after expiration of the Repair Period. Tenant's ’s failure to provide Landlord with Tenant's ’s Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 1 contract

Samples: Office Lease (Ziprecruiter, Inc.)

Tenant’s Option to Terminate. If a) In the Repair Period Notice provided by Landlord indicates event that the anticipated period Premises is destroyed or damaged to any substantial extent (for repairing the Casualty exceeds one hundred and eighty purposes of this Section 11.3, damage "to any substantial extent" shall mean that more than sixty (18060) days after the Casualty (the "Repair Period"are reasonably required to repair such damage), or b) the Casualty to the Premises occurs as reasonably determined by Landlord, during the last twelve (12) months of the Lease Term; , then notwithstanding anything contained in this Article 11, Tenant shall have the option, but not the obligation, option to terminate this Lease by providing giving written notice ("Tenant's Termination Notice") to Landlord within thirty (30) days after receiving of the Repair Period Notice in the case exercise of 12.4 (a); or such option within thirty (30) days after the Casualtydate of such damage or destruction, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove within the Repair Period, and d) farther provided Landlord has not diligently commenced which event this Lease shall cease and continued to prosecute to completion repair terminate as of the damage and/or destruction caused date of such notice. If the Premises is damaged or destroyed such that the Premises cannot be substantially repaired or restored by Landlord within one hundred eighty (180) days after the Casualtycasualty, and e) Landlordhas not completed the repairs thereafter on or before then Tenant may terminate this Lease upon notice thereof to Landlord, which notice shall be given, if at all, within thirty (30) days after Landlord's reasonable determination that the Premises cannot be restored within one hundred eighty (180) days after the casualty without incurring overtime or similar charges. Upon any such termination of this Lease pursuant to Sections 11.2 or 11.3, Tenant shall pay, if any, the Base Rent and Additional Rent, properly apportioned up to such date of termination, and both parties hereto shall thereafter be freed and discharged of all further obligations hereunder, except as provided for in provisions of this Lease which by their terms survive the expiration or earlier termination of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS after expiration of the Repair Period. Tenant's failure to provide Landlord with Tenant's Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this LeaseTerm.

Appears in 1 contract

Samples: Lease Agreement (Redenvelope Inc)

Tenant’s Option to Terminate. If a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty (the “Repair Period”) exceeds one hundred and eighty (180) days after the Casualty (the "Repair Period")Casualty, or b) the Casualty to the Premises occurs during the last twelve (12) months of the Term; then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's ’s Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); or within thirty (30) days after the Casualty, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove within the Repair Period, and d) farther provided if Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS days after expiration of the Repair Period. Tenant's ’s failure to provide Landlord with Tenant's ’s Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 1 contract

Samples: Office Lease (National Mercantile Bancorp)

Tenant’s Option to Terminate. If Tenant may elect to terminate this Lease as a result of any Casualty Damage materially adversely affecting Tenant’s ability to conduct business in or gain access to the Premises if (a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds portion of Landlord’s and Tenant’s Restoration Work cannot reasonably be expected to be Substantially Completed within one hundred and eighty (180) days after from the Casualty date of the Casualty; or (the "Repair Period"), or b) the Casualty to occurs within the Premises occurs during the last twelve (12) months month period preceding the Expiration Date and would result in Tenant being unable to gain access to or conduct business in the Premises for a period of at least sixty (60) consecutive days. Tenant shall provide Landlord with Notice of any such election by Tenant to terminate the Lease (“Tenant’s Termination Notice”) within ten (10) days following Tenant’s receipt of the Term; then Repair Period Notice. If Tenant does not provide Landlord with Tenant’s Termination Notice within such ten (10) day period, Tenant shall be deemed to have the option, but elected not the obligation, to terminate this Lease by providing written notice the Lease. Notwithstanding the foregoing, however, Tenant’s Termination Notice shall be void and of no effect if within twenty ("Tenant's Termination Notice") to Landlord within thirty (3020) days after receiving the Repair Period Notice Tenant’s Termination Notice, Landlord offers to provide Tenant with temporary or permanent space in the case of 12.4 (a); or within thirty (30) days after Project which is substantially similar in size to the Casualty, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove within the Repair Period, and d) farther provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS after expiration of the Repair Period. Tenant's failure to provide Landlord with Tenant's Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this LeasePremises.

Appears in 1 contract

Samples: Lease Agreement (Plumtree Software Inc)

Tenant’s Option to Terminate. If aA) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after the Casualty (the "Repair Period"), or bB) the The Casualty to the Premises occurs during the last twelve (12) months of the Term; then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); or within thirty (30) days after the Casualty, in the case of Section 12.4 (b). Furthermore, if: cC) Landlord does not complete the repairs required hcreinabove hereinabove within the Repair Period, and dD) farther further provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and eE) Landlordhas Landlord has not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS days after expiration of the Repair Period. Tenant's failure to provide Landlord with Tenant's Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 1 contract

Samples: Office Lease (Harvey Entertainment Co)

Tenant’s Option to Terminate. If a) If the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after from the Casualty (the "Repair Period"), or b) the Casualty to the Premises occurs during the last twelve (12) months date of the Term; then Casualty, Tenant shall have the option, but not the obligation, may elect to terminate this Lease by providing written notice ("Tenant's Casualty Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice Notice. If Tenant does not elect to terminate within this thirty-day (30-day) period, subject to the next succeeding sentence, Tenant shall be considered to have waived the option to terminate. If Tenant was eligible to deliver a Tenant's Casualty Termination Notice, but elected not to deliver the same, then if after sixty (60) days after the date specified for repair in the case Repair Period Notice, the repairs are not substantially completed (as defined in this Lease), Tenant shall have the right to terminate this Lease by written notice to Landlord given within fifteen (15) days after expiration of 12.4 such sixty (a); 60) day period. In addition, if the Premises or the Building is destroyed or damaged by a Casualty during the last twelve (12) months of the Lease Term, Tenant shall have the option to terminate this Lease by giving written notice to Landlord of the exercise of that option within thirty (30) days after the Casualty, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove within the Repair Period, and d) farther provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS after expiration of the Repair Period. Tenant's failure to provide Landlord with Tenant's Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 1 contract

Samples: Office Lease (8x8 Inc /De/)

Tenant’s Option to Terminate. If: a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty ninety (18090) days after the Casualty commencement of the repairs (the "Repair Period"), or b) the Casualty to the Premises occurs during the last twelve (12) months of the TermTerm and the anticipated period for repairing the Casualty exceeds sixty (60) days after the commencement of repairs as such repair period is set forth in a notice from Landlord to Tenant given within thirty (30) days after the Casualty (the “End of Term Notice”); then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's ’s Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); or within thirty (30) days after receiving the CasualtyEnd of Term Notice, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove within the Repair Periodif for reasons other than force majeure, and d) farther provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas not completed the repairs thereafter on or before the date which is thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS days after expiration of the Repair Period. Tenant's ’s failure to provide Landlord with Tenant's ’s Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 1 contract

Samples: Office Lease (Ritter Pharmaceuticals Inc)

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Tenant’s Option to Terminate. If: a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after the Casualty (the "Repair Period"), or b) the Casualty to the Premises occurs during the last twelve (12) months of the Term; then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's ’s Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); or within thirty (30) days after the Casualty, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove hereinabove within the Repair Period, and d) farther further provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas Landlord has not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS days after expiration of the Repair Period. Tenant's ’s failure to provide Landlord with Tenant's ’s Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 1 contract

Samples: Office Lease (BioSig Technologies, Inc.)

Tenant’s Option to Terminate. If a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one two hundred and eighty seventy (180270) days after the Casualty (the "Repair Period"), or b) the Casualty to the Premises occurs during the last twelve (12) months of the Term; then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); or within thirty (30) days after the Casualty, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove hereinabove within the Repair Period, and d) farther provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS days after expiration of the Repair Period. Tenant's failure to provide Landlord with Tenant's Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 1 contract

Samples: Office Lease (Sizzler International Inc)

Tenant’s Option to Terminate. If a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after the Casualty (the "Repair Period"), or b) the Casualty to the Premises occurs during the last twelve (12) months of the Term; then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's ’s Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of Section 12.4 (a); or within thirty (30) days after the Casualty, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove hereinabove within the Repair Period, and d) farther further provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas Landlord has not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS days after expiration of the Repair Period. Tenant's ’s failure to provide Landlord with Tenant's ’s Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this LeaseLease with respect to the particular Casualty in question.

Appears in 1 contract

Samples: Office Lease (ReachLocal Inc)

Tenant’s Option to Terminate. If: a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after the Casualty (the "Repair Period"), or b) the Casualty to the Premises occurs during the last first twelve (12) months of the Term; ; c) then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's ’s Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); or within thirty (30) days after the Casualty, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove within the Repair Period, and d) farther provided if Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five live (45) dayS days after expiration of the Repair Period. Tenant's ’s failure to provide Landlord with Tenant's ’s Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 1 contract

Samples: Lease Agreement (TrueCar, Inc.)

Tenant’s Option to Terminate. If a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after the Casualty (the "Repair Period"), or b) the Casualty Notwithstanding anything to the Premises occurs contrary contained in the preceding paragraph, if during the last twelve five (125) months years of the Term; term hereof any building or Improvement erected on said Premises shall be damaged by fire or other casualty and the cost of repairing or restoring the same shall exceed the insurance proceeds payable for such damage, then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's Termination Notice") to Landlord be exercised within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); such event, to repair or within thirty (30) days after the Casualtyrestore said building as hereinabove provided, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove within the Repair Period, and d) farther provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice thereof to Landlord (subject to obtaining the prior consent of its intention to so terminateany Lender provided for in Article 12 hereof, if said Lender's consent is required), which notice shall be given not more than forty-five (45) dayS after expiration of the Repair Period. Tenant's failure to provide Landlord with Tenant's Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Leaseshall be conditioned as follows: (a) Tenant shall, at its expense, within ninety (90) days after the damage occurs, tear down and remove all parts of said building and other Improvements then remaining and the debris resulting from such fire or other casualty and otherwise clean up and restore the Premises, as far as practicable, to its original condition, free and clear of liens; and (b) Within ten (10) days after completion of said clean-up and restoration Tenant shall surrender to Landlord possession of the Premises, cleaned up and restored as aforesaid, and shall pay to Landlord (i) any rent accruing to the date of said surrender, (ii) Tenant's pro rata share of all unpaid taxes and assessments that then shall have become a lien upon said Premises, and (iii) any other charges properly owing Landlord; and (c) Upon surrender of possession of the Premises to Landlord, but not before, said Lease shall terminate. The insurance proceeds collected and paid for such damage, to the extent available for said purposes, shall be applied first to pay the then balance due any authorized encumbrancer, if any, second to the cost of such clean-up and restoration, and the unexpended balance thereof, if any, shall be paid to Landlord.

Appears in 1 contract

Samples: Ground Lease (SFX Entertainment Inc)

Tenant’s Option to Terminate. If: a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after the Casualty (the "Repair Period"), or b) the Casualty to the Premises occurs during the last twelve (12) months of the Term; then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's ’s Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice Casualty in the case of 12.4 (a); or within thirty (30) days after receiving the CasualtyEnd of Term Notice, in the case of Section 12.4 (b). Furthermore, if: cif (i) Landlord does not complete the repairs required hcreinabove within the Repair Period, and dand (ii) farther provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and eand (iii) Landlordhas has not completed the repairs thereafter on or before the date which is thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS days after expiration of the Repair Period. In the event that Landlord elects to so terminate this Lease, Tenant shall be provided with a minimum of ninety (90) days within which to vacate the Premises, subject to any public safety restrictions or requirements imposed as a result of the Casualty, either by Landlord acting prudently and in good faith, or as may be required by applicable law. Encino Terrace / Research Solutions, Inc. / MK / December 29, 2016 ____ ____ ____ ____ Initial Initial Initial Initial Tenant's ’s failure to provide Landlord with Tenant's ’s Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 1 contract

Samples: Office Lease (Research Solutions, Inc.)

Tenant’s Option to Terminate. If a) the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred and eighty (180) days after the Casualty (the "Repair Period"), or b) the Casualty to the Premises occurs during the last twelve (12) months of the Term; then Tenant shall have the option, but not the obligation, to terminate this Lease by providing written notice ("Tenant's Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice in the case of 12.4 (a); or within thirty (30) days after the Casualty, in the case of Section 12.4 (b). Furthermore, if: c) Landlord does not complete the repairs required hcreinabove hereinabove within the Repair Period, and d) farther further provided Landlord has not diligently commenced and continued to prosecute to completion repair of the damage and/or destruction caused by the Casualty, and e) Landlordhas Landlord has not completed the repairs thereafter on or before thirty (30) days after the expiration of the Repair Period, then Tenant shall also have the option, but not the obligation, to terminate this then Lease by giving Landlord written notice of its intention to so terminate, which notice shall be given not more than forty-five (45) dayS days after expiration of the Repair Period. Tenant's failure to provide Landlord with Tenant's Termination Notice within the time periods specified hereinabove shall be deemed conclusive evidence that Tenant has waived its option to terminate this Lease.

Appears in 1 contract

Samples: Office Lease (Cytrx Corp)

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