End of Term Casualty. Notwithstanding the provisions of ¶17.a. and ¶17.b. above, either Landlord or Tenant may terminate this Lease if the Building containing the Premises is damaged by fire or other casualty, Landlord’s reasonably estimated cost of restoration of the Building containing the Premises exceeds ten percent (10%) of the then replacement value of the Building containing the Premises and such damage or casualty occurs during the last twelve (12) months of the Term of this Lease (or the Term of any renewal option, if applicable) by giving the other notice thereof at any time within thirty (30) days following the occurrence of such damage or casualty. Such notice shall specify the date of such termination which date shall not be less than thirty (30) nor more than sixty (60) days following the date on which such notice of termination is given. In the event of the giving of such notice of termination, this Lease shall expire and all interest of Tenant in the Premises shall terminate on the date so specified in such notice and the Rent shall be paid to the date of such termination.
End of Term Casualty. Notwithstanding anything to the contrary in this Article, Landlord shall not have any obligation whatsoever to repair, reconstruct or restore the Premises or the Project when the damage resulting from any casualty covered under this Article occurs during the last twelve (12) months of the Term or any extension thereof.
End of Term Casualty. Anything herein to the contrary notwithstanding, if the Premises are destroyed or damaged to an extent greater than forty percent (40%) of the replacement cost thereof during the last twelve (12) months of the Lease Term, then either Landlord or Tenant shall have the right to terminate this Lease upon sixty (60) days prior written notice to the other, which termination shall be effective on the sixtieth (60th) day after the other party's receipt of such notice. Such notice must be delivered within sixty (60) days after such casualty, or shall be deemed waived. For purposes of this provision, if Tenant has exercised any option to extend the Term prior to the date of such casualty such that the Lease Term (including such extension) exceeds such twelve (12) month period, then the foregoing termination option shall be inapplicable. In addition, if after such casualty, Landlord exercises the option to terminate this Lease provided in this Section 14.5, above, and Tenant, within ten (10) days after Landlord's exercise of such termination right, exercises any then valid right to extend the Lease Term pursuant to Section 49, below, then such termination shall be deemed rescinded and ineffective, and this Lease shall continue in full force and effect.
End of Term Casualty. Notwithstanding the provisions of Sections 18.1 and 18.2 above, either Landlord or Tenant may terminate this Lease if the Premises is damaged by fire or other casualty (and Landlord's reasonably estimated cost of restoration of the Premises exceeds ten percent (10%) of the then replacement value of the Premises) and such damage or casualty occurs during the last twelve (12) months of the Term of this Lease (or the Term of any renewal option, if applicable) by giving the other notice thereof at any time within thirty (30) days following the occurrence of such damage or casualty. Such notice shall specify the date of such termination which date shall not be less than thirty (30) nor more than sixty (60) days following the date on which such notice of termination is given. In the event of the giving of such notice of termination, this Lease shall expire and all interest of Tenant in the Premises shall terminate on the date so specified in such notice and the Rent shall be paid to the date of such termination. Notwithstanding the foregoing to the contrary, Landlord shall not have the right to terminate this Lease if damage or casualty occurs during the last twelve (12) months of the Term if Tenant timely exercises its option to extend the Term pursuant to Section 2.2 of this Lease within twenty (20) days after the date of such damage or casualty.
End of Term Casualty. Anything herein to the contrary notwithstanding, if the Premises are destroyed or damaged during the last eighteen (18) months of the Lease Term, then either Landlord or Tenant shall have the right to terminate this Lease upon thirty (30) days prior written notice to the other, which termination shall be effective on the thirtieth (30th) day after the other party's receipt of such notice. Such notice must be delivered within thirty (30) days after such casualty, or shall be deemed waived.
End of Term Casualty. Anything herein to the contrary notwithstanding, if more than thirty (30%) of the Premises is destroyed or damaged during the last eighteen (18) months of the Lease Term, then either Landlord or Tenant shall have the right to terminate this Lease (in whole if the damage extends to all of the Premises or otherwise as to the affected portion of the Premises within the Building) upon thirty (30) days prior written notice to the other, which termination shall be effective on the thirtieth (30th) day after the other party's receipt of such notice. Such notice must be delivered within thirty (30) days after such casualty, or shall be deemed waived; provided, however, that Tenant may revoke such termination notice, and require Landlord to restore the Premises, by exercising any renewal option provided herein, if any.
End of Term Casualty. Notwithstanding anything to the contrary in this Article 10, Landlord and Tenant shall have the right to terminate this Lease if a casualty affecting greater than twenty percent (20%) of the Project occurs during the last twelve (12) months of the Term (as it may have been extended).
End of Term Casualty. (a) In the event of a casualty occurring during the last twelve (12) full calendar months of the original Term hereof or of any Extended Term the cost for repair of which exceeds $50,000 in Lessor's best good faith judgment, either Lessor or Lessee shall have the right to terminate this Lease by written notice to the other delivered, in Lessor's case within thirty (30) days of the date of the casualty and, in the Lessee's case within thirty (30) days of the date of receipt from Lessor of Lessor's best good faith estimate of the cost of repair.
End of Term Casualty. Notwithstanding the provisions of par17.a.
End of Term Casualty. If, during the final 18 months of the Lease Term, the Improvements shall be destroyed or damaged by fire or other casualty to the extent that the cost of the Restoration would exceed 50% of the then full insurable value of the Improvements, Tenant shall have the option of either (a) repairing, rebuilding, or restoring the Improvements as stated above, or (b) terminating this Lease by giving written notice of the election to Landlord within 90 calendar days after the destruction or damage, which notice shall specify a date, not less than 10 calendar days from the date of delivery of the notice to Landlord, on which Tenant elects to terminate this Lease. If the Lease is terminated, Tenant shall not be required to repair, rebuild, or restore the damaged Improvements, or to pay the cost of repairing, rebuilding, or restoring the damaged Improvements, and all proceeds of insurance paid by reason of the destruction of the Improvements shall be retained by Landlord; provided, Tenant shall be entitled, in this case, to the proceeds of insurance paid by reason of the destruction of Tenant’s trade fixtures and personal property.
