Tenant’s Termination Election. If, based upon the Contractor’s Estimate, the time period for repairing any casualty damage will exceed nine (9) months after the date of any casualty, then the Tenant shall have the right, exercisable by written notice given on or before the date thirty (30) days after the Landlord gives to the Tenant the Contractor’s Estimate, to terminate this Lease. If neither the Landlord nor the Tenant exercise their termination rights, but the Landlord has failed to restore the Building within the sixty (60) days following the expiration of the period of restoration set forth in the Contractor’s Estimate, such period to be subject, however, to extension where the delay in completion of such work is due to External Causes or delays caused by Tenant but in no event beyond an additional two (2) months of extension for External Causes), the Tenant shall have the right to terminate this Lease at any time after the expiration of such period (in either case, as extended by delay due to External Causes or Tenant caused delays as aforesaid) until the restoration is substantially completed, such termination to take effect thirty (30) days following Landlord’s receipt of Tenant’s notice unless such restoration is completed prior to such termination date. However, if the Landlord has been diligently prosecuting the repair of all casualty and damage, and if the Landlord reasonably determines at any time, and from time to time, during the restoration, based upon certification by its architect or other design professional, that such restoration will not be able to be completed before the deadline date after which the Tenant may terminate this Lease under this Section 8.3, and the Landlord specifies in a notice to Tenant to such effect a later date that the Landlord estimates will be the date upon which such restoration will be completed, then the Tenant may terminate this Lease within thirty (30) days of the Landlord’s notice as aforesaid, failing which the deadline date shall be extended to the date set forth in Landlord’s notice (as extended by delay due to External Causes as aforesaid). The Landlord shall exercise reasonable efforts to keep the Tenant advised of the status of restoration work from time to time, and promptly following any request for information during the course of the performance of the restoration work.
Appears in 1 contract
Samples: Non Disturbance and Attornment Agreement (Agios Pharmaceuticals, Inc.)
Tenant’s Termination Election. If, based upon the Contractor’s Estimate, the time period for repairing any casualty damage will exceed nine (9) months after the date of any casualty, then the Tenant shall have the right, exercisable by written notice given on or before the date thirty (30) days after If the Landlord gives to the Tenant the Contractor’s Estimate, to terminate has not terminated this Lease. If neither the Landlord nor the Tenant exercise their termination rightsLease under Section 8.2, but the Landlord has failed to restore the Building Premises, within twelve (12) months from the sixty (60) days following the expiration date of the period casualty, or failed to restore the Garage sufficiently to enable the Tenant to exercise its parking privileges therein within twenty four (24) months from the date of restoration set forth in the Contractor’s Estimatecasualty, such period periods to be subject, however, to extension where the delay in completion of such work is due to External Causes or delays caused by Tenant but in no event beyond an additional two (2) months of extension for External Causes), then the Tenant shall have the right to terminate this Lease at any time after the expiration of such the aforesaid 12-month or 24-month period (in either case, as extended by delay due to External Causes or Tenant caused delays Causes), as aforesaid) the case may be, until the restoration is substantially completed, such termination to take effect thirty (30) days following Landlord’s receipt as of the date of the Tenant’s notice unless such restoration is completed prior to such termination datenotice. However, if the Landlord has been diligently prosecuting the repair of all casualty and damage, and if the Landlord reasonably determines at any time, and from time to time, during the restoration, based upon certification by its architect or other design professional, that such restoration will not be able to be completed before the deadline date after which the Tenant may terminate this Lease under this Section 8.3, and the Landlord specifies in a notice to the Tenant to such effect a later date that the Landlord estimates will be the date upon which such restoration will be completed, then if such later date is ninety (90) days or less after the deadline date, the Tenant may terminate this Lease within ten (10) days of the Landlord’s notice as aforesaid, or if such later date is greater than ninety (90) days after the deadline date, the Tenant may terminate this Lease within thirty (30) days of the Landlord’s notice as aforesaid, failing which the deadline date shall be extended to the date set forth in the Landlord’s notice (as extended by delay due to External Causes as aforesaidCauses). The Landlord shall exercise reasonable efforts to keep the Tenant advised of the status of restoration work from time to time, and promptly following any request for information during the course of the performance of the restoration work. If the Garage, or any portion thereof, shall be damaged by fire or casualty so as to render one or more of the Tenant’s parking spaces therein impossible or impracticable to use in the Landlord’s reasonable determination, then the Landlord shall designate, if available to the Landlord and promptly following the occurrence of any such fire or casualty, any temporary alternative parking within University Park that may be used for the parking of the automobiles of the employees and invitees of the Tenant. All such alternative parking shall be allocated proportionately among all tenants, including the Tenant, then currently leasing parking spaces within the Garage. The Tenant shall pay the market rate from time to time in effect for such alternative parking facilities. In the event the Landlord is unable to secure for the Tenant such temporary alternative parking so that the aggregate number of parking spaces shall equal the number to which Tenant is entitled under Exhibit A, then the Tenant may be entitled to the credit against Annual Fixed Rent as provided below in Section 8.6.
Appears in 1 contract
Samples: Lease (Aveo Pharmaceuticals Inc)
Tenant’s Termination Election. If, based upon the Contractor’s Estimate, the time period for repairing any casualty damage will exceed nine (9) months after the date of any casualty, then the Tenant shall have the right, exercisable by written notice given on or before the date thirty (30) days after If the Landlord gives to the Tenant the Contractor’s Estimate, to terminate has not terminated this Lease. If neither the Landlord nor the Tenant exercise their termination rightsLease under Section 8.2, but the Landlord has failed to restore the Building Premises, within twelve (12) months from the sixty (60) days following the expiration date of the period casualty, or failed to restore the Garage sufficiently to enable the Tenant to exercise its parking privileges therein within twenty four (24) months from the date of restoration set forth in the Contractor’s Estimatecasualty, such period periods to be subject, however, to extension where the delay in completion of such work is due to External Causes or delays caused by Tenant but in no event beyond an additional two (2) months of extension for External Causes), then the Tenant shall have the right to terminate this Lease at any time after the expiration of such the aforesaid 12-month or 24-month period (in either case, as extended by delay due to External Causes or Tenant caused delays Causes), as aforesaid) the case may be, until the restoration is substantially completed, such termination to take effect thirty (30) days following Landlord’s receipt as of the date of the Tenant’s notice unless such restoration is completed prior to such termination date's notice. However, if the Landlord has been diligently prosecuting the repair of all casualty and damage, and if the Landlord reasonably determines at any time, and from time to time, during the restoration, based upon certification by its architect or other design professional, that such restoration will not be able to be completed before the deadline date after which the Tenant may terminate this Lease under this Section 8.3, and the Landlord specifies in a notice to the Tenant to such effect a later date that the Landlord estimates will be the date upon which such restoration will be completed, then if such later date is ninety (90) days or less after the deadline date, the Tenant may terminate this Lease within ten (10) days of the Landlord's notice as aforesaid, or if such later date is greater than ninety (90) days after the deadline date, the Tenant may terminate this Lease within thirty (30) days of the Landlord’s 's notice as aforesaid, failing which the deadline date shall be extended to the date set forth in the Landlord’s 's notice (as extended by delay due to External Causes as aforesaidCauses). The Landlord shall exercise reasonable efforts to keep the Tenant advised of the status of restoration work from time to time, and promptly following any request for information during the course of the performance of the restoration work. If the Garage, or any portion thereof, shall be damaged by fire or casualty so as to render one or more of the Tenant's parking spaces therein impossible or impracticable to use in the Landlord's reasonable determination, then the Landlord shall designate, if available to the Landlord and promptly following the occurrence of any such fire or casualty, any temporary alternative parking within University Park that may be used for the parking of the automobiles of the employees and invitees of the Tenant. All such alternative parking shall be allocated proportionately among all tenants, including the Tenant, then currently leasing parking spaces within the Garage. The Tenant shall pay the market rate from time to time in effect for such alternative parking facilities. In the event the Landlord is unable to secure for the Tenant such temporary alternative parking so that the aggregate number of parking spaces shall equal the number to which Tenant is entitled under Exhibit A, then the Tenant may be entitled to the credit against Annual Fixed Rent as provided below in Section 8.6.
Appears in 1 contract
Tenant’s Termination Election. If, based upon the Contractor’s Estimate, the time period for repairing any casualty damage will exceed nine (9) months after the date of any casualty, then the Tenant shall have the right, exercisable by written notice given on or before the date thirty (30) days after If the Landlord gives to the Tenant the Contractor’s Estimate, to terminate has not terminated this Lease. If neither the Landlord nor the Tenant exercise their termination rightsLease under Section 8.2, but the Landlord has failed to restore the Building Premises, within twelve (12) months from the sixty (60) days following the expiration date of the period of restoration set forth in the Contractor’s Estimatecasualty or taking, such period to be subject, however, to extension where the delay in completion of such work is due to External Causes or delays caused by Tenant but in no event beyond an additional two (2) months of extension for External Causes), the Tenant shall have the right to terminate this Lease at any time after the expiration of such 12-month period (in either case, as extended by delay due to External Causes or Tenant caused delays Causes), as aforesaid) the case may be, until the restoration is substantially completed, such termination to take effect thirty (30) days following Landlord’s receipt as of the date of the Tenant’s notice unless such restoration is completed prior to such termination datenotice. However, if the Landlord has been diligently prosecuting the repair of all casualty and damage, and if the Landlord reasonably determines at any time, and from time to time, during the restoration, based upon certification by its architect or other design professional, that such restoration will not be able to be completed before the deadline date after which the Tenant may terminate this Lease under this Section 8.3, and the Landlord specifies in a notice to Tenant to such effect a later date that the Landlord estimates will be the date upon which such restoration will be completed, then the Tenant may terminate this Lease within thirty ten (3010) days of the Landlord’s notice as aforesaid, failing which the deadline date shall be extended to the date set forth in Landlord’s notice (as extended by delay due to External Causes as aforesaidCauses). The Landlord shall exercise reasonable efforts to keep the Tenant advised of the status of restoration work from time to time, and promptly following any request for information during the course of the performance of the restoration work.
Appears in 1 contract
Samples: Lease (Aveo Pharmaceuticals Inc)
Tenant’s Termination Election. If, based upon the Contractor’s Estimate, the time period for repairing After any casualty damage will exceed nine (9) months after which materially impairs the date use of any casualtya material portion of the Premises, then unless the Landlord has earlier advised the Tenant of the Landlord’s election to terminate this Lease pursuant to Section 8.2, or to restore the Premises and maintain this Lease in effect pursuant to Section 8.1, the Tenant shall have the right, exercisable by after the expiration of the ninety (90) day period provided in Section 8.2 above, to give a written notice given on or before to the date thirty Landlord requiring the Landlord within ten (3010) days after thereafter to exercise or waive any right of the Landlord gives to terminate this Lease pursuant to Section 8.2 as a result of such casualty and if the Landlord fails to give timely notice to the Tenant the Contractor’s Estimate, waiving any right under Section 8.2 to terminate this Lease. If neither the Landlord nor Lease based on such casualty, the Tenant exercise their termination rightsshall be entitled, but at any time until the Landlord has failed given notice to the Tenant waiving such termination right, to give notice to the Landlord terminating this Lease. Where the Landlord is obligated to restore the Building Premises, unless such restoration is completed within two (2) months following the sixty date estimated by Landlord for restoration completion in a written notice to Tenant delivered within ninety (6090) days following the expiration date of the period of restoration set forth in the Contractor’s Estimatecasualty, such period to be subject, however, to extension where the delay in completion of such work is due to External Causes or delays caused by Tenant but in no event beyond (not to exceed an additional two (2) months on account of extension for such External Causes)) or due to any act, failure to act or neglect of Tenant or Tenant’s servants, agents, employees or licensees, the Tenant shall have the right to terminate this Lease at any time after the expiration of such period (in either case, as extended by delay due to External Causes or Tenant caused delays as aforesaid) until the restoration is substantially completed, such termination to take effect thirty (30) days following Landlord’s receipt as of the date of the Tenant’s notice unless such restoration is completed prior to such termination datenotice. HoweverTenant shall be solely responsible for (A) the amount of any deductible under the policy insuring Tenant’s improvements and betterments and (B) the amount, if any, by which the Landlord has been diligently prosecuting cost of repairing and restoring Tenant’s improvements and betterments exceeds the repair of all casualty and damageavailable insurance proceeds therefor. Except as expressly provided in this Article VIII, and if the Landlord reasonably determines at any time, and from time to time, during the restoration, based upon certification by its architect or other design professional, that such restoration will Tenant shall not be able entitled to be completed before the deadline date after which the Tenant may terminate this Lease under this Section 8.3, and the Landlord specifies in a notice shall have no liability to Tenant to such effect a later date that the Landlord estimates will be the date upon which such for inconvenience, loss of business or annoyance arising from any repair or restoration will be completed, then the Tenant may terminate this Lease within thirty (30) days of any portion of the Landlord’s notice as aforesaid, failing which the deadline date shall be extended to the date set forth in Landlord’s notice (as extended by delay due to External Causes as aforesaid). The Landlord shall exercise reasonable efforts to keep the Tenant advised Premises or of the status of restoration work from time Building pursuant to time, and promptly following any request for information during the course of the performance of the restoration work.this Article VIII. ACTIVE/103568117.9
Appears in 1 contract
Samples: Lease (Vericel Corp)
