Damage or Destruction (a) If all or any part of the Building shall be destroyed or damaged by fire or other casualty required to be insured against under Section 6(a) of this Lease, then Landlord shall, as promptly as feasible (taking into account the time necessary to conclude a satisfactory settlement with any insurance company involved), repair such damage and restore the Building as nearly as possible to the condition that existed immediately prior to the occurrence of such casualty. If the damage or destruction occurs during the last two (2) years of the Initial Term or during any Renewal Term, and the restoration of the Premises cannot be diligently completed within a twelve (12) month period after the date of the damage or destruction, then either party may terminate this Lease by giving the other party notice of termination. Such termination shall be effective twenty (20) days following receipt of the notice by the other party, except that a notice of termination by Landlord shall be of no force or effect if within twenty (20) days after receipt of such notice Tenant gives written notice ("Nullification Notice") to Landlord of Tenant's exercise of any available renewal option. In addition, if Landlord fails to complete such restoration prior to the applicable "Restoration Date" described below, Tenant shall have the option to terminate this Lease by giving written notice to Landlord at any time prior to the commencement or completion of restoration, as applicable. For purposes of the preceding sentence, if the extent of the damage or destruction is less than twenty-five percent (25%) of the replacement cost value of the Building, the "Restoration Date" shall be the date that is twelve (12) months after the date of the damage or destruction, and if the extent of the damage or destruction is equal to or greater than twenty-five percent (25%) of the replacement cost of the Building, the "Restoration Date" shall be the date that is eighteen (18) months after the date of the damage or destruction. If this Lease is not terminated or if Landlord's termination is nullified by a Nullification Notice, Landlord shall be obligated to restore the Premises as provided above. If this Lease is terminated, all insurance proceeds for the Premises and other improvements payable under Landlord's policies and derived from such damage or destruction shall be paid solely to Landlord, and all Rent shall xxxxx and be prorated as of the date of the damage or destruction (with any surplus rent paid in advance being refunded to Tenant).
