Common use of Casualty and Insurance Clause in Contracts

Casualty and Insurance. (a) In the event of partial or total destruction of the Building or the Demised Premises by reason of fire or any other cause Tenant shall immediately after it becomes aware of such destruction notify Landlord of same and Landlord shall promptly restore and rebuild the Building or the Demised Premises at Landlord’s expense (but only to the extent of the insurance proceeds covering such damage), unless Landlord elects by notice to Tenant within ninety (90) days of said destruction not to restore and rebuild the Building or the Demised Premises, and, in such case, this Lease shall terminate. Notwithstanding the foregoing, Landlord shall not have the right to terminate this Lease if the destruction is limited to the Common Areas of the Building or, if in Landlord’s reasonable opinion, the Demised Premises can be restored to its original condition within one hundred eighty (180) days. If in Landlord’s reasonable opinion, as expressed in a notice to Tenant given within forty-five (45) days after such destruction, the Demised Premises cannot be restored to its original condition within one hundred eighty (180) days, or if the Demised Premises are not restored within two hundred seventy (270) days of the casualty (subject to Force Majeure), or if more than fifty percent (50%) of the Demised Premises are destroyed, Tenant shall have the right to cancel this Lease by providing written notice to Landlord of such cancellation within ten (10) days of receipt of such notice from Landlord, time being of the essence with respect to such notice, and such termination shall be effective thirty (30) days after the date of such notice, provided, however, that Landlord may nullify any such notice by completing such restoration and rebuilding within such thirty (30) day period. In the event the Demised Premises are totally or materially destroyed during the last twelve (12) months of the Term or last twelve (12) months of any extensions or renewals thereof, unless Tenant shall have exercised any further renewal options herein prior to such fire or destruction so that this Lease, including only irrevocably exercised renewals, has a remaining Term of more than twelve (12) months, either Landlord or Tenant shall have the right to cancel this Lease by providing written notice to the other of such cancellation within ten (10) days of such fire or destruction, time being of the essence with respect to such notice, and such termination shall be effective thirty (30) days after the date of such notice. If Landlord is obligated to restore and rebuild the Demised Premises or, if it is not obligated, Landlord elects to restore and rebuild the Demised Premises, then during the period of restoration of any such area, and, if any portion of Demised Premises are rendered untenantable by said damage, Tenant shall be relieved of the obligation to pay that portion of the rent herein reserved which relates to said untenantable area. If the Lease is canceled by either Landlord or Tenant pursuant to this Paragraph 10(a), and provided that Tenant is not in default under this Lease at the time of such cancellation, Landlord shall return the Security Deposit to Tenant subject to the terms of Paragraph 20 of this Lease.

Casualty and Insurance. (a) In the event of partial or total destruction of If the Building or Premises is totally destroyed by fire, tornado or other casualty, event or terrorist action (any of the Demised Premises by reason of fire foregoing, a “Casualty”) or any other cause Tenant shall immediately after it becomes aware of such destruction notify Landlord of same and Landlord shall promptly restore and rebuild if the Building or the Demised Premises at Landlord’s expense (but only to the extent of the insurance proceeds covering such damage), unless is so damaged that Landlord elects by notice to Tenant within ninety (90) days of said destruction determines that rebuilding or repairs cannot to restore and rebuild the Building or the Demised Premises, and, in such case, this Lease shall terminate. Notwithstanding the foregoing, Landlord shall not have the right to terminate this Lease if the destruction is limited to the Common Areas of the Building or, if in Landlord’s reasonable opinion, the Demised Premises can be restored to its original condition completed within one hundred eighty (180) days. If in Landlord’s reasonable opinion, as expressed in a notice to Tenant given within forty-five (45) days after the date of such destruction, the Demised Premises cannot be restored to its original condition within one hundred eighty damage (180) days, or if the Demised Premises are not restored within two hundred seventy (270) days of the casualty (subject to Force Majeurea “Major Casualty”), or if more than fifty percent (50%) of the Demised Premises are destroyed, Landlord shall notify Tenant shall have the right to cancel this Lease by providing written notice to Landlord of such cancellation within ten (10) days of receipt of such notice from Landlord, time being of the essence with respect to such notice, and such termination shall be effective thirty (30) days after the date of such noticedamage, provided, however, that Landlord may nullify any such notice by completing such restoration and rebuilding within such thirty during the fifteen (3015) day period. In the event the Demised Premises are totally or materially destroyed during the last twelve (12) months of the Term or last twelve (12) months of any extensions or renewals thereofperiod after Landlord notifies Tenant, unless both Landlord and Tenant shall have exercised any further renewal options herein prior to such fire or destruction so that this Lease, including only irrevocably exercised renewals, has a remaining Term of more than twelve (12) months, either Landlord or Tenant shall have the right to cancel each may at its respective option terminate this Lease by providing written notice to the other, in which event this Lease shall terminate and neither party shall have any further obligations hereunder except those obligations which expressly survive a termination of this Lease. If the Building or Premises is damaged by fire, tornado or other casualty, event or terrorist action which is not a Major Casualty or in the event of such cancellation a Major Casualty but neither Landlord nor Tenant elects to terminate this Lease within ten fifteen (1015) days after the date of such fire or destructionLandlord’s notice to Tenant in accordance with the previous sentence, time being of the essence with respect to such notice, and such termination Landlord shall be effective thirty within ninety (3090) days after the date of such noticedamage commence the process of rebuilding or repairing the Building and/or Premises and proceed with reasonable diligence to restore the Building and/or Premises to not less than substantially the same condition in which it was immediately prior to the Casualty, except Landlord shall not be required to rebuild, repair or replace any part of the furniture, equipment and any other improvements which may have been placed by Tenant in the Premises. Tenant agrees to cooperate with Landlord in connection with any such restoration and repair, including but not limited to the approval or execution of plans and specifications if required. Landlord shall have no obligation to restore in the event of a Casualty occurring during the last Lease Year of the Term of this Lease or if the proceeds of Landlord’s insurance recovered or recoverable as a result of the Casualty are insufficient to fully pay for the cost of repairs or if Landlord is unable to secure required permits and approvals. Fixed Rent and Additional Rent shall equitably xxxxx from the later of the date of damage or the date Tenant ceases operating its business from the Premises (or part thereof) until the date Landlord has completed the repairs and restoration of the Building and Premises. If any mortgagee under a deed to secure debt, security agreement or mortgage requires the insurance proceeds be applied against the mortgage debt, Landlord shall have no obligation to rebuild and this Lease shall terminate upon notice to Tenant. Notwithstanding anything to the contrary herein, (i) in the event of a Casualty that is obligated to restore and rebuild the Demised Premises ornot a Major Casualty, if it is Landlord has not obligatedcompleted the repair and restoration of the Building and Premises within two hundred ten (210) days after the date of such damage, then Tenant may, at any time after such two hundred tenth (210th) day but before Landlord elects to restore completes the repair and rebuild restoration of the Demised Building and Premises, then during terminate this Lease by delivering written notice of termination to Landlord and (ii) in the period event of a Casualty that is a Major Casualty, if Landlord has not completed the repair and restoration of any the Building and Premises within three hundred (300) days after the date of such area, and, if any portion of Demised Premises are rendered untenantable by said damage, then Tenant shall be relieved may, at any time after such three hundredth (300th) day but before Landlord completes the repair and restoration of the obligation Building and Premises, terminate this Lease by delivering written notice of termination to pay Landlord. In the event that portion Tenant delivers written notice of termination to Landlord in accordance the rent herein reserved preceding sentence, such notice shall include the date of termination and this Lease shall terminate on such date and neither party shall have any further obligations hereunder except those obligations which relates to said untenantable areaexpressly survive a termination of this Lease. If the Lease is canceled Except as otherwise provided herein, any insurance which may be carried by either Landlord or Tenant pursuant to this Paragraph 10(a), and provided that Tenant is not in default under this Lease at the time of such cancellation, Landlord shall return the Security Deposit to Tenant subject against loss or damage to the terms Building or to the Premises shall be for the sole benefit of Paragraph 20 of this Leasethe party carrying such insurance and under its sole control.

Casualty and Insurance. (a) In the event of partial (being 20% or greater of the total area of the Building) or total destruction of the Building or the Demised Premises by reason of fire or any other cause cause, Tenant shall immediately after it becomes aware of such destruction notify Landlord of same and same. Landlord shall promptly thereafter notify Tenant of the estimated time to restore and rebuild rebuild, subject to the Building or then existing mortgagee's consent thereto and availability of insurance proceeds, the Demised Premises at Landlord’s expense (but only Premises, and Tenant shall contribute an amount in proportion to the extent total expenses of rebuilding the insurance proceeds covering such damage)Tenant Improvements which it originally contributed to the Tenant Improvements, unless Landlord elects by notice to Tenant within ninety (90) days of said destruction to terminate all material leases of the Building and not to restore and rebuild the Building or the Demised PremisesBuilding, and, in such case, this Lease shall terminate. Notwithstanding ; provided however, in the foregoingevent Landlord estimates that restoration and rebuilding of the Premises will take longer than nine (9) months, Tenant or Landlord may within five (5) days after receipt of such time estimation (as applicable) terminate the Lease whereupon this Lease shall be null and void and neither party except as expressly provided herein shall have any further rights, liabilities or obligations hereunder; provided however, if the casualty occurs during the last year of the Term and Tenant has not exercised its renewal right hereunder, either party will have the right to terminate this the Lease if the destruction is limited by sending written notice of such termination to the Common Areas of the Building or, if in Landlord’s reasonable opinion, the Demised Premises can be restored to its original condition within one hundred eighty (180) days. If in Landlord’s reasonable opinion, as expressed in a notice to Tenant given within forty-five (45) days after such destruction, the Demised Premises cannot be restored to its original condition within one hundred eighty (180) days, or if the Demised Premises are not restored within two hundred seventy (270) days of the casualty (subject to Force Majeure), or if more than fifty percent (50%) of the Demised Premises are destroyed, Tenant shall have the right to cancel this Lease by providing written notice to Landlord of such cancellation other within ten (10) days of Tenant's receipt of such the notice from Landlord, time being of the essence with respect Landlord described above. Such notice is to such notice, and such specify a termination shall be effective thirty date no less than fifteen (3015) days after its transmission. During the date period of such notice, provided, however, time after the casualty that Landlord may nullify any such notice by completing such restoration and rebuilding within such thirty (30) day period. In the event Tenant is unable to occupy the Demised Premises are totally or materially destroyed during any portion thereof for its intended purpose, the last twelve (12) months of the Term or last twelve (12) months of any extensions or renewals thereof, unless Tenant shall have exercised any further renewal options herein prior to such fire or destruction so that this Lease, including only irrevocably exercised renewals, has a remaining Term of more than twelve (12) months, either Landlord or Tenant shall have the right to cancel this Lease by providing written notice to the other of such cancellation within ten (10) days of such fire or destruction, time being of the essence with respect to such notice, and such termination Rent shall be effective thirty (30) days after abated, pro rata for such time the date of such notice. If Landlord is obligated to restore and rebuild the Demised Premises or, if it is not obligated, Landlord elects to restore and rebuild the Demised Premises, then during the period of restoration of any such area, and, if any portion of Demised Premises are rendered untenantable by said damage, Tenant shall be relieved of the obligation to pay that portion of the rent herein reserved which relates to said untenantable area. If the Lease is canceled by either Landlord or Tenant pursuant to this Paragraph 10(a), and provided that Tenant is not in default under this Lease at the time of such cancellation, Landlord shall return the Security Deposit to Tenant subject to the terms of Paragraph 20 of this Leasesame remains untenantable.

Casualty and Insurance. (a) In the event of partial or total destruction of the Building or of the Demised Premises by reason of fire or any other cause cause, Tenant shall immediately after it becomes aware of such destruction notify Landlord of same the same, and Landlord shall promptly restore and rebuild the Building or and/or the Demised Premises (excluding the Tenant Improvements constructed by Landlord pursuant to Exhibit B and Tenant’s trade fixtures, equipment, and personal property) at Landlord’s expense (but only to the extent of the insurance proceeds covering such damagedamage actually received by Landlord), unless Landlord elects by notice to Tenant within ninety (90) days of said destruction not to restore and rebuild the Building or the and/or Demised Premises, and, in such case, upon a date specified in said notice by Landlord, this Lease shall terminate. Notwithstanding the foregoing, Landlord shall not have the right to terminate this Lease if the destruction is limited to the Common Areas of the Building or, if in Landlord’s reasonable opinion, the Demised Premises can be restored to its original condition within one hundred eighty (180) days. If in Landlord’s reasonable opinion, as expressed in a notice to Tenant given within forty-five (45) days after such destruction, the Demised Premises cannot be restored to its original condition within one hundred eighty (180) days, or if the Demised Premises are not restored within two hundred seventy (270) days of the casualty (subject to Force Majeure), or if more than fifty percent (50%) of the Demised Premises are destroyed, Tenant shall have the right to cancel this Lease by providing written notice to Landlord of such cancellation within ten (10) days of receipt of such notice from Landlord, time being of the essence with respect to such notice, and such termination shall be effective thirty (30) days after the date of such notice, provided, however, that Landlord may nullify any such notice by completing such restoration and rebuilding within such thirty (30) day period. In the event the Demised Premises are totally or materially destroyed during the last twelve (12) months of the Term or last twelve (12) months of any extensions or renewals thereof, unless Tenant shall have exercised any further renewal options herein prior to such fire or destruction so that this Lease, including only irrevocably exercised renewals, has a remaining Term of more than twelve (12) months, either Landlord or Tenant shall have the right to cancel this Lease by providing written notice to the other of such cancellation within ten (10) days of such fire or destruction, time being of the essence with respect to such notice, and such termination shall be effective thirty (30) days after the date of such notice. If Landlord is obligated to restore and rebuild the Demised Premises or, if it is not obligated, Landlord elects to restore and rebuild the Demised Premises, then during the period of restoration of any such area, and, if any portion of the Demised Premises are is rendered untenantable by said damage, Tenant shall waives the benefit of N.J.S.A. 46:8-6 and 46:8-7 and agrees that Tenant will not be relieved of the its obligation to pay that Fixed and Additional Rent in case of damage to or destruction of the Demised Premises or the Building, except with respect to the portion of the rent Fixed and Additional Rent herein reserved which that relates to said untenantable areaportion only. If the Lease is canceled by either Tenant acknowledges that Landlord or will not carry insurance on Tenant’s furniture, furnishings, fixtures, equipment, personal property, Tenant pursuant to this Paragraph 10(a)Improvements, and provided other Alterations; therefore, Tenant agrees that Tenant is not in default under this Lease at the time of such cancellation, Landlord shall return the Security Deposit have no obligation to Tenant subject repair any damage to the terms of Paragraph 20 of this Leasesame.

Casualty and Insurance. (a) In the event of partial or total destruction of the Building or of the Demised Premises by reason of fire or any other cause cause, Tenant shall immediately after it becomes aware of such destruction notify Landlord of same and Landlord shall promptly restore and rebuild the Building or the Demised Premises at Landlord’s expense (but only to the extent of the insurance proceeds covering such damage), unless same. Unless Landlord elects by notice to Tenant within ninety (90) days of said destruction not to restore and rebuild the Building or the and/or Demised Premises, andLandlord shall promptly perform such restoration (excluding those items Tenant is required under this Lease to insure, by way of example and not limitation, Tenant’s Alterations, trade fixtures, furniture, equipment, and personal property), but only to the extent of the insurance proceeds covering such damage actually received by Landlord and subject to the terms and conditions contained in such casethis Paragraph 10. If Landlord elects to terminate this Lease, this Lease shall terminate. Notwithstanding terminate upon the foregoing, Landlord shall not have the right to terminate this Lease if the destruction is limited to the Common Areas of the Building or, if date specified in Landlord’s reasonable opinion, the Demised Premises can be restored to its original condition within one hundred eighty (180) days. If in Landlord’s reasonable opinion, as expressed in a notice to Tenant given within forty-five (45) days after such destruction, the Demised Premises cannot be restored to its original condition within one hundred eighty (180) days, or if the Demised Premises are not restored within two hundred seventy (270) days of the casualty (subject to Force Majeure), or if more than fifty percent (50%) of the Demised Premises are destroyed, Tenant shall have the right to cancel this Lease by providing written notice to Landlord of such cancellation within ten (10) days of receipt of such notice from Landlord, time being of the essence with respect to such notice, and such termination shall be effective thirty (30) days after the date of such notice, provided, however, that Landlord may nullify any such notice by completing such restoration and rebuilding within such thirty (30) day period. In the event the Demised Premises are totally or materially destroyed during the last twelve (12) months of the Term or last twelve (12) months of any extensions or renewals thereof, unless Tenant shall have exercised any further renewal options herein prior to such fire or destruction so that this Lease, including only irrevocably exercised renewals, has a remaining Term of more than twelve (12) months, either Landlord or Tenant shall have the right to cancel this Lease by providing written notice to the other of such cancellation within ten (10) days of such fire or destruction, time being of the essence with respect to such notice, and such termination shall be effective thirty (30) days after the date of such notice. If Landlord is obligated to restore and rebuild the Demised Premises or, if it is not obligated, Landlord elects to restore and rebuild the Demised Premises, then during During the period of restoration of any such area, andrestoration, if any portion of the Demised Premises are is rendered untenantable by said damage, Tenant shall waives the benefit of N.J.S.A. 46:8-6 and 46:8-7 and agrees Tenant will not be relieved of the its obligation to pay that Fixed and Additional Rent in case of damage to or destruction of the Demised Premises or the Building, except with respect to the portion of the rent Fixed and Additional Rent herein reserved which relates relating to said the untenantable areaportion of the Demised Premises. If the Lease is canceled by either Tenant acknowledges Landlord or Tenant pursuant to this Paragraph 10(a)will not carry insurance on Tenant’s Alterations, trade fixtures, furniture, equipment, and provided that personal property; therefore, Tenant is not in default under this Lease at the time of such cancellation, agrees Landlord shall return the Security Deposit have no obligation to Tenant subject repair any damage to the terms same regardless of Paragraph 20 cause of this Leaseloss whatsoever, and Tenant shall be responsible for the prompt restoration of the same upon delivery of the restored area by Landlord to Tenant.

Casualty and Insurance. (a) In the event of partial or total destruction of If the Building or the Demised Premises is totally destroyed by reason of fire fire, tornado or any other cause Tenant shall immediately after it becomes aware of such destruction notify Landlord of same and Landlord shall promptly restore and rebuild casualty, event or terrorist action or if the Building or the Demised Premises at Landlord’s expense (but only to the extent of the insurance proceeds covering such damage), unless including access thereto) is so damaged that Landlord elects by notice to Tenant within ninety (90) days of said destruction determines that rebuilding or repairs cannot to restore and rebuild the Building or the Demised Premises, and, in such case, this Lease shall terminate. Notwithstanding the foregoing, Landlord shall not have the right to terminate this Lease if the destruction is limited to the Common Areas of the Building or, if in Landlord’s reasonable opinion, the Demised Premises can be restored to its original condition completed within one hundred eighty (180) daysdays after the date of such damage (a “Major Casualty”), Landlord or Tenant may at its option terminate this Lease by written notice to the other within thirty (30) days following Landlord’s determination, in which event rent shall be apportioned effective from the date of such damage. If the Building or Premises (including access thereto) is damaged by fire, tornado or other casualty, event or terrorist action which is not a Major Casualty or in Landlord’s reasonable opinionthe event of a Major Casualty but neither Landlord nor Tenant elects to terminate this Lease, as expressed in a notice to Tenant given within forty-five (45) days after such destruction, the Demised Premises cannot be restored to its original condition Landlord shall within one hundred eighty twenty (180) days, or if the Demised Premises are not restored within two hundred seventy (270) days of the casualty (subject to Force Majeure), or if more than fifty percent (50%) of the Demised Premises are destroyed, Tenant shall have the right to cancel this Lease by providing written notice to Landlord of such cancellation within ten (10) days of receipt of such notice from Landlord, time being of the essence with respect to such notice, and such termination shall be effective thirty (30120) days after the date of such noticedamage commence the process of rebuilding or repairing the Building and/or Premises (including access thereto) and proceed with reasonable diligence to restore the Building and/or Premises (including access thereto) to not less than substantially the same condition in which it was immediately prior to the casualty, providedexcept Landlord shall not be required to rebuild, howeverrepair or replace any part of the furniture, that equipment or fixtures and any other improvements which may have been placed by Tenant in the Premises. Tenant agrees to reasonably cooperate with Landlord may nullify in connection with any such notice by completing such restoration and rebuilding within such thirty (30) day periodrepair, including but not limited to the approval or execution of plans and specifications if required. In Provided this Lease is not terminated pursuant to this Section, Tenant will repair, restore and refixture the Premises to a substantially similar condition as existed prior to the casualty, and otherwise in accordance with the terms and conditions of this Lease. Landlord shall have no obligation to restore in the event the Demised Premises are totally or materially destroyed of a casualty which is not a Major Casualty occurring during the last twelve (12) months Lease Year of the Term or last twelve (12) months of any extensions or renewals thereof, unless Tenant shall have exercised any further renewal options herein prior to such fire or destruction so that this Lease, including only irrevocably exercised renewals, has a remaining Term of more than twelve (12) months, either Landlord or Tenant shall have the right to cancel this Lease by providing written notice to the other of such cancellation or any extension thereof that Landlord determines that rebuilding or repairs cannot be completed within ten ninety (10) days of such fire or destruction, time being of the essence with respect to such notice, and such termination shall be effective thirty (3090) days after the date of such notice. If damage or if the proceeds of Landlord’s insurance recovered or recoverable as a result of the casualty and retained by Landlord are insufficient to fully pay for the cost of repairs or if Landlord is obligated unable to restore secure required permits and rebuild approvals, and in such event, Landlord shall elect by written notice to Tenant to terminate this Lease rent shall be apportioned effective from the Demised Premises or, if it date of such damage. Provided this Lease is not obligatedterminated pursuant to this Section, Landlord elects to restore Fixed Rent and rebuild the Demised Premises, then Additional Rent shall equitably axxxx during the period of any repairs and restorations from the date of damage until the earlier to occur of (i) sixty (60) days after the date Landlord substantially completes its repair and restoration obligations under this Section or (ii) the date Tenant resumes use of the damaged portion(s) of the Premises for the normal conduct of its business. If any such areamortgagee under a deed to secure debt, andsecurity agreement or mortgage requires the insurance proceeds be applied against the mortgage debt, if any portion of Demised Premises are rendered untenantable by said damageLandlord shall have no obligation to rebuild and this Lease shall terminate upon notice to Tenant, Tenant in which event rent shall be relieved apportioned effective from the date of the obligation to pay such damage. Except as otherwise provided herein, any insurance that portion of the rent herein reserved which relates to said untenantable area. If the Lease is canceled may be carried by either Landlord or Tenant pursuant to this Paragraph 10(a), and provided that Tenant is not in default under this Lease at the time of such cancellation, Landlord shall return the Security Deposit to Tenant subject against loss or damage to the terms Building or to the Premises shall be for the sole benefit of Paragraph 20 of this Leasethe party carrying such insurance and under its sole control.

Casualty and Insurance. (a) In the event of partial or total destruction of the Building or the Demised Premises destruction, by reason of fire or any other cause Tenant shall immediately after it becomes aware cause, of such destruction notify Landlord of same and (i) the Demised Premises or (ii) the Building or any portion thereof which renders the Demised Premises untenantable, Landlord shall promptly restore and rebuild (i) the Demised Premises to the standard set forth in the work letter specifications contained in Exhibit B-1 or (ii) the Building or such portion thereof as needed to make the Demised Premises tenantable to the standard existing immediately prior to the occurrence of such fire or other casualty, at Landlord’s expense (but only 's expense, unless, subject to the extent of the insurance proceeds covering such damage)immediately following sentence, unless Landlord elects by notice to Tenant within ninety sixty (9060) days of said destruction not to restore and rebuild the Building or Demised Premises and/or the Demised PremisesBuilding, and, in such case, upon a date specified in said notice by Landlord, this Lease shall terminate. Notwithstanding the foregoing, Landlord shall not have the right may elect to terminate this Lease only if (i) Landlord is electing to terminate the destruction is limited to the Common Areas leases of the Building or, if in Landlord’s reasonable opinion, the Demised Premises can be restored to its original condition within one hundred eighty (180) days. If in Landlord’s reasonable opinion, as expressed in a notice to Tenant given within forty-five (45) days after all tenants similarly situated and affected by such destruction, the Demised Premises cannot be restored to its original condition within one hundred eighty (180) dayscasualty, or (ii) if the Demised Premises are not restored within two hundred seventy (270) days of the such casualty (subject to Force Majeure), or if more than fifty percent (50%) of the Demised Premises are destroyed, Tenant shall have the right to cancel this Lease by providing written notice to Landlord of such cancellation within ten (10) days of receipt of such notice from Landlord, time being of the essence with respect to such notice, and such termination shall be effective thirty (30) days after the date of such notice, provided, however, that Landlord may nullify any such notice by completing such restoration and rebuilding within such thirty (30) day period. In the event the Demised Premises are totally or materially destroyed occurs during the last twelve (12) months of the Term or (or, if Tenant has exercised its option to renew this Lease, if such casualty occurs during the last twelve (12) months of any extensions or renewals thereof, unless Tenant shall have exercised any further the final renewal options herein prior to such fire or destruction so that this Lease, including only irrevocably exercised renewals, has a remaining Term of more than twelve (12) months, either Landlord or Tenant shall have the right to cancel this Lease by providing written notice to the other of such cancellation within ten (10) days of such fire or destruction, time being of the essence with respect to such notice, and such termination shall be effective thirty (30) days after the date of such noticeTerm). If Landlord is obligated to restore and rebuild the Demised Premises or, if it is not obligated, Landlord elects to restore and rebuild the Demised Premisesdamage, then during the period of restoration, Landlord shall notify Tenant of the estimated time period for completing such restoration of any such area, and, if any portion of Demised Premises are rendered untenantable by said damage, and Tenant shall be relieved of the obligation to pay that portion of the rent herein reserved which relates to said untenantable areathe area of the Demised premises which has been rendered untenantable. If the Lease damage to the Demised Premises is canceled by either such that Landlord or reasonably estimates that the restoration of the Demised Premises would require a period of time in excess of eight (8) months after the date of Landlord's notice, then Tenant pursuant shall have the right to this Paragraph 10(a), and provided that Tenant is not in default under terminate this Lease at upon notice to Landlord given within twenty (20) days after the date that Landlord notifies Tenant of the estimated time period required for the restoration of such cancellationthe Demised Premises. If for any reason (including force majeure) Landlord fails to complete the restoration of the Demised Premises within twelve (12) months of the date on which the casualty occurs, Tenant may terminate this Lease by giving Landlord written notice of Termination prior to the completion of the restoration of the Demised Premises. In the event of a casualty which renders the entire Demised Premises untenantable which is restored and rebuilt by Landlord, Landlord shall return the Security Deposit to give Tenant subject fifteen (15) days notice prior to the terms completion of Paragraph 20 the restoration and re-commencement of this Leasethe obligation to pay rent hereunder.