Common use of Termination Right Clause in Contracts

Termination Right. Tenant shall give Landlord prompt notice of any damage to the demised premises. Subject to the provisions of Paragraph 9.2 of this lease, if the demised premises or the Building shall be damaged to such an extent that there is substantial interference for a period exceeding 120 consecutive days with the conduct by Tenant of its business at the demised premises, then and in such event, at any time prior to commencement of repair of the demised premises, either of the Parties may, at its option, terminate this lease by giving notice thereof to the other Party. Such termination shall not excuse the performance by Tenant of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial interference with the conduct of Tenant's business at the demised premises. Abatement of rent and Tenant's right of termination pursuant to this provision shall be Tenant's sole remedy for failure of Landlord to keep in good order, condition and repair the foundations and exterior walls of the Building, the roof of the Building, utility systems outside the Building and the Common Areas.

Termination Right. To the extent that Landlord is not aware of any damage to the Premises, Tenant shall give Landlord prompt immediate written notice of any damage to the demised premisesPremises. Subject to the provisions of Paragraph 9.2 of this lease9.2, if the demised premises Premises or the Building shall be damaged to such an extent that there is substantial interference for a period exceeding 120 consecutive in the good faith determination of Landlord's architect, the time needed to make restoration as required by Section 9.2 shall exceed 180 days with from the conduct by Tenant date of its business at the demised premisescasualty, then and in such eventLandlord shall give prompt notice thereof to Tenant. Tenant, at any time following such notice but prior to commencement of repair of the demised premisesPremises and following 10 days written notice to Landlord, either of the Parties may, at its option, may terminate this lease by giving Lease effective 30 days after delivery of such notice thereof to the other PartyLandlord. Such termination shall not excuse the performance by Tenant of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial interference with the conduct of Tenant's business at the demised premisesPremises. Abatement of rent and Tenant's right of termination pursuant to this provision shall be Tenant's sole remedy for failure of Landlord to keep in good order, condition and repair the foundations structural supports and exterior walls of the Building, the roof of the BuildingBuilding roof, utility systems outside the Building and Building, the Common Areas. In the event that the Premises or the Building, or any material part thereof, shall be destroyed or damaged by fire or other casualty, to such an extent that the time needed to repair is likely to exceed 180 days from the date of casualty then this Lease may be terminated at the election of Landlord. Any such election shall be made by the giving of notice by Landlord to Tenant within sixty (60) days following Landlord's receipt of Tenant's notice of such fire or casualty.

Termination Right. Tenant shall give Landlord prompt notice of any damage to the demised premises. Subject to the provisions of Paragraph 9.2 of this lease, if the demised premises or the Building shall be damaged to such an extent that there is substantial interference for a period exceeding 120 consecutive days with the conduct by Tenant of its business at the demised premises, then and in such event, at any time prior to commencement of repair of the demised premises, either of the Parties may, at its option, terminate this lease by giving notice thereof to the other Party. Such termination shall not excuse the performance by Tenant of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial interference with the conduct of TenantXxxxxx's business at the demised premises. Abatement of rent and TenantXxxxxx's right of termination pursuant to this provision shall be Tenant's sole remedy for failure of Landlord to keep in good order, condition and repair the foundations and exterior walls of the Building, the roof of the Building, utility systems outside the Building and the Common Areas.

Termination Right. Tenant shall give Landlord prompt immediate written notice of any damage to the demised premisesPremises. Subject to the provisions of Paragraph 9.2 of this lease9.2, if the demised premises Premises or the Building shall be damaged to such an extent that there is substantial interference for a period exceeding 120 one hundred eighty (180) consecutive days with the conduct by Tenant of its business at the demised premisesPremises (provided, up to an additional sixty (60) days shall be added to such one hundred eighty (180) consecutive day period to account for time Landlord may require to obtain permits for such repairs), then and in such eventeither party, at any time prior to commencement of repair of the demised premises, either of the Parties may, at its option, terminate this lease by giving Premises and following ten (10) days written notice thereof to the other Partyparty, may terminate this Lease effective thirty (30) days after delivery of such notice to the other party. Within forty five (45) days following the occurrence of such damage, Landlord shall inform Tenant in writing of Landlord’s estimate of the time required to complete repairs to the Premises. Further, if any portion of the Premises is damaged and is not fully covered by the aggregate of insurance proceeds received by Landlord and any applicable deductible or if the holder of any indebtedness secured by the Premises requires that the insurance proceeds be applied to such indebtedness, and Tenant does not voluntarily contribute any shortfall thereof to Landlord, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within sixty (60) days after the date of notice to Tenant of any such event. Such termination shall not excuse the performance by Tenant of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial interference with the conduct of Tenant's ’s business at the demised premisesPremises. Abatement of rent and Tenant's ’s right of termination pursuant to this provision shall be Tenant's ’s sole remedy for failure of Landlord with respect to keep in good order, condition and repair the foundations and exterior walls any such damage regardless of the Building, the roof of the Building, utility systems outside the Building and the Common Areascause thereof.”

Termination Right. Tenant shall give Landlord prompt immediate written notice of any damage to the demised premisesPremises. Subject to the provisions of Paragraph 9.2 of this lease9.2, if the demised premises Premises or the Building shall be damaged to such an extent that there is substantial interference for a period exceeding 120 one hundred eighty (180) consecutive days with the conduct by Tenant of its business at the demised premisesPremises (provided, up to an additional sixty (60) days shall be added to such one hundred eighty (180) consecutive day period to account for time Landlord may require to obtain permits for such repairs), then and in such eventeither party, at any time prior to commencement of repair of the demised premises, either of the Parties may, at its option, terminate this lease by giving Premises and following ten (10) days written notice thereof to the other Partyparty, may terminate this Lease effective thirty (30) days after delivery of such notice to the other party. Within forty five (45) days following the occurrence of such damage, Landlord shall inform Tenant in writing of Landlord’s estimate of the time required to complete repairs to the Premises. Further, if any portion of the Premises is damaged and is not fully covered by the aggregate of insurance proceeds received by Landlord and any applicable deductible or if the holder of any indebtedness secured by the Premises requires that the insurance proceeds be applied to such indebtedness, and Tenant does not voluntarily contribute any shortfall thereof to Landlord, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within sixty (60) days after the date of notice to Tenant of any such event. Such termination shall not excuse the performance by Tenant of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial interference with the conduct of Tenant's ’s business at the demised premisesPremises. Abatement of rent and Tenant's ’s right of termination pursuant to this provision shall be Tenant's ’s sole remedy for failure of Landlord with respect to keep in good order, condition and repair the foundations and exterior walls any such damage regardless of the Building, the roof of the Building, utility systems outside the Building and the Common Areascause thereof.

Termination Right. Tenant shall give Landlord prompt written notice of any damage to the demised premisesPremises of which Tenant is actually aware. Landlord shall promptly give Tenant written notice of any damage to the Premises of which Landlord is actually aware, which notice shall include the reasonable estimate for the time period required to repair or restore the Premises, as determined by Landlord’s construction consultant. Subject to the provisions of Paragraph 9.2 of this lease9.2, if the demised premises Premises or the Building shall be damaged to such an extent that there is substantial interference for a period exceeding 120 consecutive days with during the conduct by Tenant of its business at the demised premises, then and in such event, at any time prior to commencement of repair last two (2) years of the demised premisesTerm or if the estimated time for restoration or repair exceeds 180 days, either of the Parties Tenant may, at its optionwithin 10 business days after Tenant’s receipt of Landlord’s notice and estimate, terminate this lease Lease by giving written notice thereof to the other PartyLandlord, effective 30 days after delivery of such notice to Landlord. Such termination shall not excuse the performance by Tenant either party of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial interference with the conduct of Tenant's ’s business at the demised premisesPremises. Abatement of rent and Tenant's ’s right of termination pursuant to this provision shall be Tenant's ’s sole remedy for failure of Landlord to keep in good order, condition and repair the foundations and exterior walls of the Building, the roof of the BuildingBuilding roof, utility systems outside the Building and the Common AreasAreas in the event of any damage to the Premises pursuant to this Paragraph 9.1.

Termination Right. Tenant shall give Landlord prompt immediate written notice of any damage to the demised premisesPremises. Subject to the provisions of Paragraph 9.2 of this lease9.2, if the demised premises Premises or the Building shall be damaged to such an extent that there is substantial interference for a period exceeding 120 one hundred eighty (180) consecutive days with the conduct by Tenant of its business at the demised premisesPremises, then and in such eventeither party, at any time prior to commencement of repair of the demised premises, either of the Parties may, at its option, terminate this lease by giving Premises and following ten (10) days written notice thereof to the other Partyparty, may terminate this Lease effective thirty (30) days after delivery of such notice to the other party. Further, if any portion of the Premises is damaged and is not fully covered by the aggregate of insurance proceeds received by Landlord and any applicable deductible or if the holder of any indebtedness secured by the Premises requires that the insurance proceeds be applied to such indebtedness, and Tenant does not voluntarily contribute any shortfall thereof to Landlord, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within thirty (30) days after the date of notice to Tenant of any such event. Such termination shall not excuse the performance by Tenant of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial interference with the conduct of Tenant's business at the demised premisesPremises. Abatement of rent and Tenant's right of termination pursuant to this provision shall be Tenant's sole remedy for failure of Landlord with respect to keep in good order, condition and repair the foundations and exterior walls any such damage regardless of the Building, the roof of the Building, utility systems outside the Building and the Common Areascause thereof.

Termination Right. Tenant shall give Landlord prompt written notice of any damage to the demised premisesPremises that it becomes aware of. Subject to the provisions of Paragraph 9.2 of this lease9.2, if the demised premises Premises or the Building shall be damaged to such an extent that there is substantial interference for a period exceeding 120 one hundred twenty (120) consecutive days with the conduct by Tenant of its business at the demised premisesPremises, then and in such eventeither party, at any time prior to commencement of repair of the demised premises, either of the Parties may, at its option, terminate this lease by giving Premises and following ten (10) days written notice thereof to the other Partyparty, may terminate this Lease effective thirty (30) days after delivery of such notice to the other party. Further, if any portion of the Premises is damaged and is not fully covered by the aggregate of insurance proceeds received by Landlord and any applicable deductible or if the holder of any indebtedness secured by the Premises requires that the insurance proceeds be applied to such indebtedness, and Tenant does not voluntarily contribute any shortfall thereof to Landlord, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within thirty (30) days after the date of notice to Tenant of any such event. Such termination shall not excuse the performance by Tenant of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial material interference with the conduct of Tenant's ’s business at the demised premisesPremises. Abatement of rent and Tenant's ’s right of termination pursuant to this provision shall be Tenant's ’s sole remedy for failure of Landlord with respect to keep in good order, condition and repair the foundations and exterior walls any such damage regardless of the Building, the roof of the Building, utility systems outside the Building and the Common Areascause thereof.

Termination Right. Tenant shall give Landlord prompt immediate written notice of any damage to the demised premisesPremises. Subject to the provisions of Paragraph 9.2 of this lease9.2, if the demised premises Premises or the Building shall be damaged to such an extent that there is substantial interference for a period exceeding 120 two hundred seventy (270) consecutive days with the conduct by Tenant of its business at the demised premisesPremises, then and in such eventeither party, at any time prior to commencement of repair of the demised premises, either of the Parties may, at its option, terminate this lease by giving Premises and following ten (10) days written notice thereof to the other Partyparty, may terminate this Lease effective thirty (30) days after delivery of such notice to the other party. Further, if any portion of the Premises is damaged and is not fully covered by the aggregate of insurance proceeds received by Landlord and any applicable deductible or if the holder of any indebtedness secured by the Premises requires that the insurance proceeds be applied to such indebtedness, and Tenant does not voluntarily contribute any shortfall thereof to Landlord, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within thirty (30) days after the date of notice to Tenant of any such event. Such termination shall not excuse the performance by Tenant of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial interference with the conduct of Tenant's ’s business at the demised premisesPremises. Abatement of rent and Tenant's ’s right of termination pursuant to this provision shall be Tenant's ’s sole remedy for failure of Landlord with respect to keep in good order, condition and repair the foundations and exterior walls any such damage regardless of the Building, the roof of the Building, utility systems outside the Building and the Common Areascause thereof.

Termination Right. Tenant shall give Landlord prompt immediate written notice of any damage to the demised premisesPremises upon discovery thereof. Subject to the provisions of Paragraph 9.2 of this lease9.2, if the demised premises Premises or the Building shall be damaged to such an extent that there is or will be substantial interference for a period exceeding 120 one hundred eighty (180) consecutive days with the conduct by Tenant of its business at the demised premisesPremises, then and in such eventeither party, at any time prior to commencement of repair of the demised premises, either of the Parties may, at its option, Premises may terminate this lease by giving Lease effective thirty (30) days after delivery of written notice thereof to the other Partyparty. Further, if any portion of the Premises is damaged and is not fully covered by the aggregate of insurance proceeds received by Landlord and any applicable deductible or if the holder of any indebtedness secured by the Premises requires that the insurance proceeds be applied to such indebtedness, and Tenant does not voluntarily contribute any shortfall thereof to Landlord, then Landlord shall have the right to terminate this Lease by delivering written notice of termination to Tenant within thirty (30) days after the date of notice to Tenant of any such event. Such termination shall not excuse the performance by Tenant of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial interference with the conduct of Tenant's ’s business at the demised premisesPremises. Abatement of rent and Tenant's ’s right of termination pursuant to this provision shall be Tenant's ’s sole remedy for failure of Landlord with respect to keep in good order, condition and repair the foundations and exterior walls any such damage regardless of the Building, cause thereof. If the roof of Lease is not terminated following damage due to a casualty as provided herein Landlord shall restore the Building, utility systems outside Premises to substantially the Building and same condition in which they existed immediately prior to the Common Areascasualty subject to applicable laws.

Termination Right. Tenant shall give Landlord prompt immediate written notice of any damage to the demised premisesPremises. Subject to the provisions of Paragraph 9.2 of this lease9.2, if the demised premises Premises or the Building shall be damaged to such an extent that there is substantial interference for a period exceeding 120 90 consecutive days with the conduct by Tenant of its business at the demised premisesPremises, then and in such eventTenant, at any time prior to commencement of repair of the demised premisesPremises and following 10 days written notice to Landlord, either of the Parties may, at its option, may terminate this lease by giving Lease effective 30 days after delivery of such notice thereof to the other PartyLandlord. Such termination shall not excuse the performance by Tenant of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial interference with the conduct of Tenant's business at the demised premisesPremises. Abatement of rent and Tenant's right of termination pursuant to this provision shall be Tenant's sole remedy for failure of Landlord to keep in good order, condition and repair the foundations and exterior walls of the Building, the roof of the BuildingBuilding roof, utility systems outside the Building and Building, the Common AreasAreas and HVAC. . In the event that the Premises or the Building, or any material part thereof, shall be destroyed or damaged by fire or other casualty, then this Lease may be terminated at the election of Landlord. Any such election shall be made by the giving of notice by Landlord to Tenant within sixty (60) days following Landlord's receipt of Tenant's notice of such fire or casualty.

Termination Right. Tenant shall give Landlord prompt immediate written notice of any damage to the demised premisesPremises. Subject to the provisions of Paragraph 9.2 of this lease9.2, if the demised premises Premises or the Building shall be damaged to such an extent that there is substantial interference for a period exceeding 120 270 consecutive days with the conduct by Tenant of its business at the demised premisesPremises, then and in such eventTenant, at any time prior to commencement of repair of the demised premisesPremises and following 10 days written notice to Landlord, either of the Parties may, at its option, may terminate this lease by giving Lease effective 30 days after delivery of such notice thereof to the other PartyLandlord. Such termination shall not excuse the performance by Tenant of those covenants which under the terms hereof survive termination. In the event that this lease shall not be terminated by either of the Parties in accordance with the preceding terms and conditions of Paragraph 9.1 of this lease, then and in such event, to the extent of insurance proceeds becoming available to Landlord as a result of, and in connection with, the occurrence of such damage, Landlord shall repair such damage and rebuild the demised premises. Rent shall be abated in proportion to the degree of interference during the period that there is such substantial interference with the conduct of Tenant's ’s business at the demised premisesPremises. Abatement of rent and Tenant's ’s right of termination pursuant to this provision shall be Tenant's ’s sole remedy for failure of Landlord to keep in good order, condition condition, and repair the foundations and exterior walls of the Building, the roof of the BuildingBuilding roof, utility systems outside the Building and Building, the Common Areas, and HVAC. In the event Tenant does not terminate the Lease pursuant to this Paragraph 9.1, Landlord shall restore the Premises to the condition existing prior to the damage as soon as reasonably practicable. Notwithstanding the foregoing, to the extent insurance proceeds actually received by Landlord are insufficient to restore such damage and such insufficiency is not caused by Landlord’s failure to maintain the insurance required under this Lease, Landlord shall have the right to terminate this Lease upon notice to Tenant unless Tenant agrees to pay such deficiency.