Tenant’s Termination Rights. (a) If the Premises or any portion thereof are damaged by fire or other casualty or taking, Landlord shall notify Tenant (the "Damage Notice") in writing within thirty-seven (37) days of the occurrence of the damage as to whether (i) the repair of such damage is susceptible of being substantially completed within one hundred eighty (180) days after the occurrence (Landlord hereby agreeing to submit to Tenant with the Damage Notice an engineering estimate as to the length of time necessary to substantially complete the repair of such damage, such estimated repair period being hereinafter referred to as the "Estimated Repair Period"), (ii) sufficient insurance proceeds or condemnation awards (together with other funds which Landlord may commit) will be available for the repair of such damage, and (iii) in the case of damage by fire or other casualty (and not by taking), less than ninety percent (90%) of the rentable area of the Premises existing immediately prior to the damage will be available for Tenant's use and occupation after the repair of such damage is completed. If (x) the damage to the Premises or any portion thereof shall materially adversely interfere with the conduct of Tenant's business in the Premises in the ordinary course as reasonably determined by Tenant, and the Estimated Repair Period is in excess of one hundred eighty (180) days after the occurrence of such damage, or (y) the Damage Notice states that there will not be sufficient insurance proceeds or condemnation awards (together with other funds which Landlord may commit) available for the repair of such damage, or (z) in the case of damage by fire or other casualty (and not by taking), the Damage Notice states that less than ninety percent (90%) of the rentable area of the Premises existing immediately prior to the damage will be available for Tenant's use and occupation after the repair of such damage is completed, then Tenant may, by written notice to Landlord within fifteen (15) days after the giving of the Damage Notice to Tenant, terminate this Lease as of the date of occurrence of such damage. If such damage can be repaired within one hundred eighty (180) days from the date of occurrence of the damage, this Lease is not terminated, and Landlord fails to substantially complete the repairs within such period without fault or neglect of Tenant or its agents, employees or contractors, then Tenant may terminate this Lease by giving written notice to Landlord, in which case this Leas...
Tenant’s Termination Rights. If Landlord elects to repair, reconstruct and restore pursuant to Subparagraph 20(b)(i) hereinabove, and if Landlord's contractor estimates that as a result of such damage, Tenant cannot be given reasonable use of and access to the Premises within three hundred sixty-five (365) days after the date of such damage, then Tenant may terminate this Lease effective upon delivery of written notice to Landlord within ten (10) days after Landlord delivers notice to Tenant of its election to so repair, reconstruct or restore.
Tenant’s Termination Rights. If Landlord does not elect to terminate this Lease pursuant to Landlord’s termination right as provided above, and the repairs cannot be completed within three hundred sixty five (365) days after being commenced (the “Repair Period”) as determined by an architect or contractor designated by Landlord, Tenant may elect, no earlier than sixty (60) days after the date of the casualty and not later than ninety (90) days after the date of such casualty, to terminate this Lease by notice to Landlord, effective as of the date specified in the notice, which date shall not be less than thirty (30) days nor more than sixty (60) days after such notice. In addition, in the event that the Premises or the Building is destroyed or damaged to any substantial extent during the last twelve (12) months of the Term, then Tenant shall have the option to terminate this Lease by giving notice to Landlord within thirty (30) days after such casualty, in which event this Lease shall cease and terminate as of the date of such notice. Tenant shall also have the right to terminate this Lease if Landlord does not complete repairs within the Repair Period by thirty (30) days’ notice to Landlord after the expiration of the Repair Period; provided however, if Landlord completes repair within such thirty (30) day period, such termination shall be nullified and this Lease shall continue in full force and effect.
Tenant’s Termination Rights. If Landlord elects to repair, reconstruct and restore pursuant to Subparagraph 20(b)(i) hereinabove, and if Landlord's contractor estimates that as a result of such damage, Tenant cannot be given reasonable use of and access to the Premises within two hundred seventy (270) days after the date of such damage, then Tenant may terminate this Lease effective upon delivery of written notice to Landlord within ten (10) days after Landlord delivers notice to Tenant of its election to so repair, reconstruct or restore.
Tenant’s Termination Rights. In the event of any Casualty and if Landlord does not elect to terminate this Lease or is not entitled to terminate this Lease as provided above, Tenant may elect to terminate this Lease upon the occurrence of any of the following circumstances, in which event Tenant must make such election to terminate this Lease by giving Landlord written notice of such election not later than thirty (30) days after Tenant’s receipt of Landlord’s Casualty Notice:
(a) Landlord’s good faith estimate of the Estimated Restoration Period required to complete Landlord’s Restoration Work as set forth in Landlord’s Casualty Notice is greater than one (1) year from the date of the Casualty, or
(b) The Casualty occurs during the last twelve (12) months of the Term. The effective date of any given termination shall be specified in Tenant’s termination notice, and shall not be earlier than the date of such notice or later than sixty (60) days after the date of such notice.
Tenant’s Termination Rights. (i) If (A) this Lease is not terminated and Landlord fails to complete restoration of the Premises, base Building systems serving the same, reasonable means of access to the Premises and the parking areas serving Tenant (collectively, the “Primary Areas”) within the time frames and subject to the conditions set forth in Section 15.1 above, or (B) if the estimated time to complete restoration of the Primary Areas (as provided pursuant to the immediately preceding paragraph) exceeds the timeframes set forth in Section 15.1 above, then Tenant may terminate this Lease upon thirty (30) days’ written notice to Landlord; provided, however, that if Landlord completes such restoration within thirty (30) days after receipt of any such termination notice, such termination notice shall be null and void and this Lease shall continue in full force and effect.
(ii) In addition, if Xxxxxxxx’s Mortgagee does not release sufficient insurance proceeds to cover the cost of Landlord’s restoration obligations, then Landlord shall notify Tenant thereof. If such notice by Landlord does not include an agreement by Landlord to pay for the difference between the cost of such restoration and such released insurance proceeds, then Tenant may terminate this Lease by written notice to Landlord on or before the date that is thirty (30) days after such notice.
(iii) The remedies set forth in this Section 15.2 are Tenant’s sole and exclusive rights and remedies based upon Landlord’s failure to complete the restoration of the Premises as set forth herein.
Tenant’s Termination Rights. Provided that Tenant is not in --------------------------- default of this Lease, Tenant shall have the right to terminate this Lease at any time during the term for any reason upon six (6) months' prior written notice to Landlord. Upon such termination, each party shall be released from all its obligations pursuant to this Lease except for those obligations which specifically survive the termination of this Lease.
Tenant’s Termination Rights. After the Lease Commencement Date, in any of the following circumstances, Tenant may elect to terminate this Lease by delivering written notice to Landlord within thirty (30) days after receipt of Landlord's Casualty Notice:
(a) The Estimated Restoration Period set forth in Landlord's Casualty Notice exceeds two hundred seventy (270) days following the date of the Casualty (when such Restoration is made without the payment of overtime or other premiums); or
(b) If the Casualty occurs during the last twelve (12) months of the Lease Term and the Estimated Restoration Period set forth in Landlord's Casualty Notice exceeds two (2) months following the date of the Casualty.
Tenant’s Termination Rights. If the Premises are damaged by a Casualty, Tenant may elect to terminate this Lease in the event of any of the following circumstances:
(I) If the Casualty occurs during Lease Years 1 through 12 and the Restoration cannot, in Landlord's good faith judgment, be completed within eighteen (18) months following the date of the Casualty (when such Restoration is made without the payment of overtime or other premiums), or
(II) If the Casualty occurs during Lease Year 13 and Restoration cannot, on Landlord's good faith judgment, be completed within one hundred eighty (180) days following the date of the Casualty (when such Restoration is made without the payment of overtime or other premiums), or
(III) If the Casualty occurs during Lease Year 14 and Restoration cannot, in Landlord's good faith judgment, be completed within ninety (90) days following the date of the Casualty (when such Restoration is made without payment of overtime or other premiums), or
(IV) If the Casualty occurs during Lease Year 15 and Restoration cannot, in Landlord's good faith judgment, be completed within thirty (30) days following the date of the Casualty (when Restoration is made without payment of overtime in other premiums), or
(V) If the Restoration is not substantially completed within six (6) months after Landlord's good faith estimate of the time period necessary to complete Restoration set forth in Landlord's Casualty Notice; provided, however, that said six (6) month period shall be extended to the extent of any delays attributable to Force Majeure, as defined in Paragraph 1.6(c) of the Work Letter, and/or any delays attributable to the acts or omissions of Tenant or any Tenant Parties. Tenant's termination notice under Paragraphs 19(d)(i) through 19(d)(iv) above must be given in writing to Landlord, if at all, within ten (10) days after Tenant's receipt of Landlord's Casualty Notice. Tenant's termination notice under Paragraph 19(d)(v) above must be given in writing to Landlord, if at all, within ten (10) days after expiration of said six (6) month period (as the same may be extended). If Tenant elects to terminate this Lease as provided above, this Lease and all interest of Tenant in the Premises shall terminate on the termination date specified in Tenant's termination notice, which date shall not be more than thirty (30) days after the date of Tenant's termination notice, and the Basic Monthly Rental and Tenant's Percentage Share of Operating Expenses and Real Property Taxes,...
Tenant’s Termination Rights. If Landlord does not commence the repair and restoration work to the Premises, or any portion of the Common Area which, if not restored, will materially adversely affect Tenant's use of the Premises for the normal conduct of its business, as required pursuant to this Article 18, by the date (the "Repair Commencement Date") which is six (6) months following the date of the Taking, then Tenant shall have the right to terminate this Lease by delivering written notice to Landlord, which notice shall be given within sixty (60) days after the Repair Commencement Date but prior to the commencement of restoration work by Landlord. Such notice by Tenant shall set forth the effective date of termination, which date shall not be later than that date occurring thirty (30) days after the Repair Commencement Date. If Tenant timely and properly exercises its foregoing option to terminate this Lease, Tenant shall vacate and deliver possession of the Premises to Landlord in accordance with the provisions of this Lease applicable thereto, whereafter neither party to this Lease shall have any further liability to the other accruing thereafter under this Lease. The failure of Tenant to timely and properly exercise the foregoing right to terminate this Lease shall result in the subject right to terminate being null and void.
