Damage at End of Term. If the Premises and/or the Building are destroyed or damaged during the last year of the Term of this Lease to the extent of fifty percent (50%) or more of the then value of the Premises and/or the Building, then Landlord or Tenant shall have the right to cancel and terminate this Lease as of the date of such damage or destruction by giving notice thereof within thirty (30) days after the date of said damage or destruction.
Damage at End of Term. Notwithstanding the above, if the Premises, or any portion of the Building necessary for Tenant’s use and occupancy of the Premises, are damaged or destroyed by Casualty during the last twelve (12) months of the Term, and such damage will prevent Tenant from using the Premises for a period in excess of thirty (30) consecutive business days, either party shall have the right, in its sole discretion, to terminate this Lease by notice to the other party given within thirty (30) days after the Casualty Discovery Date.
Damage at End of Term. Notwithstanding anything to the contrary contained in this Article 12, if the Premises, or any other portion thereof or of the Building, are materially damaged or destroyed by fire or other casualty within the last twelve (12) months of the Term, then Landlord shall have the right, in its sole discretion, to terminate this Lease by notice to Tenant given within ninety (90) days after the date of such event. Such termination shall be effective on the date specified in Landlord’s notice, but in no event later than the end of such 90-day period. For purposes hereof, the Premises or other portion of the Building shall be deemed to be materially damaged if such damage costs more than $2,000,000 to repair. Notwithstanding the foregoing, if Landlord seeks to terminate the Lease in circumstances where the Premises were not affected by any such damage or destruction. Landlord may do so only if Landlord is terminating all other office leases in the Building on account thereof.
Damage at End of Term. Notwithstanding anything to the contrary contained in this Article 12, if the Premises, or any material portion thereof or of the Building, are damaged or destroyed by Casualty within the last twelve (12) months of the Term, then Landlord shall have the right, in its sole discretion, to terminate this Lease by notice to Tenant given within ninety (90) days after the Casualty Discovery Date. Such termination shall be effective on the date specified in Landlord’s notice to Tenant, but in no event later than the end of such ninety (90) day period.
Damage at End of Term. If the Premises shall be substantially damaged or destroyed in whole or in part by fire or other casualty at any time during the last five (5) years of the Term hereof:
Damage at End of Term. Notwithstanding anything to the contrary contained in this Article 12, unless Tenant shall have extended the Term in accordance with Section 3.2 hereof, if the Premises, or any other portion thereof or of the Building, are materially damaged or destroyed by fire or other casualty within the last twelve (12) months of the Term, then Landlord shall have the right, in its sole discretion, to terminate this Lease by notice to Tenant given within ninety (90) days after the date of such event. Such termination shall be effective on the date specified in Landlord’s notice, but in no event later than the end of such 90-day period. For purposes hereof, the Premises or other portion of the Building shall be deemed to be materially damaged if such damage costs more than $2,000,000 to repair. Notwithstanding the foregoing, if Landlord seeks to terminate the Lease in circumstances where the Premises were not affected by any such damage or destruction, Landlord may do so only if Landlord is terminating all other office leases in the Building on account thereof.
Damage at End of Term. Notwithstanding the foregoing, if such damage or destruction (i) shall occur during the last five (5) Lease Years of the initial term of this Lease Term, as the same may be extended, and (ii) shall cost more than twenty-five percent (25%) of the full replacement cost of the Building (minus the cost of excavation, footings and foundations) to restore, then either party may terminate this Lease as of the date of such damage or destruction by giving written notice to the other party within sixty (60) days thereafter of its election to so terminate, unless Tenant within thirty (30) days after receipt of any such notice from Landlord shall give notice to Landlord of its intention to extend the term of this Lease in accordance with any option or right Tenant may have as provided in Article 4 hereof, in which case this Lease shall not be terminated although notice of termination may previously have been given by Landlord; in such case, Landlord's notice of termination shall be void and of no effect and Tenant shall repair and restore the Premises as required by this Lease.
Damage at End of Term. Notwithstanding anything to the contrary contained in this Article, if any material damage occurs as a result of any casualty during the last twelve (12) months of the Term, Landlord shall not have any obligation to repair, reconstruct or restore the Premises and either Landlord or Tenant may terminate this Lease by written notice within sixty (60) days after such date of damage or destruction.
Damage at End of Term. Notwithstanding anything to the contrary contained in this Article 12, if the Premises, or any other portion thereof or of the Building, are materially damaged or destroyed by fire or other casualty within the last seven (7) months of the Term, then Landlord shall have the right, in its sole discretion, to terminate this Lease by notice to Tenant given within ninety (90) days after the date of such event. Such termination shall be effective on the date specified in Landlord's notice to Tenant, but in no event later than the end of such 90-day period. For purposes hereof, the Premises or other portion of the Building shall be deemed to be materially damaged if such damage costs more than $2,000,000 to repair
Damage at End of Term. If (a) the Premises are Damaged (i) after the last date Tenant may, but did not, exercise an Extension Option pursuant to Section 4.3.3, or (ii) during the last twenty-four (24) months of the third Extension Term, and (b) the Estimated Repair Cost exceeds, if such Damage occurs during the first twelve (12) months of the last twenty-four (24) months of the Term, fifty percent (50%), or if such Damage occurs during the last twelve (12) months of the Term, fifteen percent (15%), of the replacement cost of the Building above ground level, then either Landlord or Tenant may terminate this Lease by giving written notice thereof to the other party given within thirty (30) days after the Trigger Date. Such termination shall, subject to Section 20.7, be effective not less than thirty (30) nor more than sixty (60) days after such notice of termination is given.
