Common use of Termination Options Clause in Contracts

Termination Options. If the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landxxxx'x xrchitect, engineer or contractor. Landlord will endeavor to provide such notice to Tenant within sixty (60) days after such damage. If such estimate states that repair or restoration of all of such damage that was caused to the Premises or to any other portion of the Building or the Complex necessary for Tenant's occupancy cannot be completed within 180 days (not including any Force Majeure delays) from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease. If such estimate states that repair or restoration of all such damage that was caused to the Building cannot be completed within 180 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to the Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be completed within 30 days from the date of such damage, or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 11.1, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within fifteen 15 days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease, the Term will expire and this Lease will terminate thirty (30) days after notice of termination is delivered and Tenant will vacate and deliver possession of the Premises to Landlord in accordance with Section 3.4 within said thirty (30) day period; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of the Premises by Tenant during such period and Landlord will be entitled to all proceeds of the insurance policy described in Section 11.2(b) applicable to any damaged leasehold improvements in the Premises.

Termination Options. If the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landxxxx'x xrchitectLandlord's architect, engineer or contractor. Landlord will endeavor contractor (and shall use diligent efforts to provide such notice to Tenant same within sixty (60) 90 days after such damageof the casualty if commercially, reasonably possible). If such estimate states that repair or restoration of all of such damage that was caused to the Premises or to any other portion of the Building or the Complex necessary for Tenant's occupancy cannot be completed within 180 days (not including any Force Majeure delays) from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease. If such estimate states that repair or restoration of all such damage that was caused to the Building cannot be completed within 180 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to the Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be completed within 30 days from the date of such damage, or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 11.1, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within fifteen 15 30 days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease, the Term will expire and this Lease will terminate thirty (30) 10 days after notice of termination is delivered and Tenant will vacate and deliver possession of the Premises to Landlord in accordance with Section 3.4 within said thirty (30) day perioddelivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of the Premises by Tenant during such period and Landlord will be entitled to all proceeds of the insurance policy described in Section 11.2(b) applicable to any damaged leasehold improvements in the Premises.

Termination Options. If the Premises or Premises, the Building or a portion of the Project reasonably necessary for the continued use of the Building and/or the Premises are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landxxxx'x xrchitectLandlord’s architect, engineer or contractor. Landlord will endeavor to provide such notice to Tenant within sixty (60) days after such damage. If such estimate states that repair or restoration of all of such damage that was caused to the Premises or to any other portion of the Building or the Complex Project necessary for Tenant's ’s occupancy cannot be completed within 180 120 days (not including any Force Majeure delays) from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease. If such estimate states that repair or restoration of all of such damage that was caused to the Building or applicable portion of the Project cannot be completed within 180 120 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to the Premises or to any other portion of the Building or the Project necessary for Tenant's ’s occupancy cannot be completed within 30 days from the date of such damage, or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 11.19.1, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within fifteen 15 10 days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease, the Term will expire and this Lease will terminate thirty (30) 10 days after notice of termination is delivered and Tenant will vacate and deliver possession of the Premises to Landlord in accordance with Section 3.4 within said thirty (30) day perioddelivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of the Premises by Tenant during such period and Landlord will be entitled to all proceeds of the insurance policy described in Section 11.2(b) applicable to any damaged leasehold improvements in the Premisesperiod.

Termination Options. If any portion of the Premises, the respective Buildings or a portion of the Project reasonably necessary for the continued use of each Building and/or the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landxxxx'x xrchitectLandlord’s architect, engineer or contractor. Landlord will endeavor to provide such notice to Tenant within sixty (60) days after such damage. If such estimate states that repair or restoration of all of such damage that was caused to a portion of the Premises or to any other portion of the Building Buildings or the Complex Project necessary for Tenant's ’s occupancy cannot be completed within 180 365 days (not including any Force Majeure delays) from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this LeaseLease with respect to the applicable portion of the Premises affected by such damage. If such estimate states that repair or restoration of all of such damage that was caused to the Building Buildings or applicable portion of the Project cannot be completed within 180 365 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to a portion of the Premises or to any other portion of the Building Buildings or the Project necessary for Tenant's ’s occupancy cannot be completed within 30 60 days from the date of such damage (provided that if Tenant has exercised, or proceeds to validly exercise an option to extend the Term within 15 business days of the occurrence of such damage, the “Term” for the purposes of the foregoing clause shall refer to the Term so extended), or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 11.19.1 (and Tenant does not agree to pay the shortfall in the cost of restoration), then Landlord or Tenant will have the option to terminate this LeaseLease with respect to the applicable portion of the Premises affected by such damage. Any option to terminate granted above must be exercised by written notice to the other party given within fifteen 15 10 business days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this LeaseLease with respect to a portion of the Premises, the Term such termination will expire and this Lease will terminate thirty (30) occur 30 days after notice of termination is delivered and Tenant will vacate and deliver possession of the Premises to Landlord in accordance with Section 3.4 within said thirty (30) day perioddelivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of any portion of the Premises by Tenant during such period and Landlord will be entitled to all proceeds of the insurance policy described in Section 11.2(b) applicable to any damaged leasehold improvements in the Premisesperiod.

Termination Options. If the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landxxxx'x xrchitectLandlord's architect, engineer or contractor. Landlord will endeavor to provide such notice to Tenant within sixty contractor (60) days after such damagethe "Repair Notice"). If the damage renders the Premises or a material part of the Premises untenantable and such estimate Repair Notice states that repair or restoration of all of such damage that was caused to the Premises or to any other portion of the Building or the Complex necessary for Tenant's occupancy cannot be completed within 180 days (not including any Force Majeure delays) from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease. If such estimate Repair Notice states that repair or restoration of all of such damage that was caused to the Building cannot be completed within 180 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate Repair Notice states that repair or restoration of all such damage that was caused to the Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be completed within 30 days from the date of such damage, or if such damage renders more than 50% of the rentable area of the Building untenantable, or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 11.19.1, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within fifteen 15 10 days after Landlord delivers to Tenant the notice of estimated repair timeRepair Notice. If either party exercises its option to terminate this Lease, the Term will expire and this Lease will terminate thirty (30) 10 days after notice of termination is delivered and Tenant will vacate and deliver possession of the Premises to Landlord in accordance with Section 3.4 within said thirty (30) day perioddelivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of the Premises by Tenant during such period and period. If Tenant elects to terminate the Lease, Landlord will be entitled to all the proceeds of the Tenant's insurance policy described in Section 11.2(b) applicable to any damaged leasehold improvements in the Premisesfor Leasehold Improvements and Equipment.