Landlord’s Termination Option. Anything in subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, or if the Building shall be so damaged by fire or other casualty that, in Landlord’s opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable), or if the Building, after its proposed repair, alteration or restoration, shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord’s option, may, not later than sixty (60) days following such damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any damage shall occur to the Premises or the Building during the last two (2) years of the Term, Landlord or Tenant shall have the option to terminate this Lease upon not less than sixty (60) days prior written notice to the other party or (ii) if the holder of a Mortgage applies the proceeds of insurance to the loan and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If this Lease is terminated pursuant to the provisions of this subsection B, the Term shall expire upon the date set forth in such notice, and Tenant shall vacate the Premises and surrender the same to Landlord without prejudice however, to Landlord’s rights and remedies against Tenant under this Lease in effect prior to such fire or other casualty and any Rent owing shall be paid up to such date and any payments of Rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant’s liability for Rent thereafter accruing shall cease as of the day following such damage.
Landlord’s Termination Option. Anything in subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, and if Landlord shall decide not to restore the Premises, or if the Building shall be so damaged by fire or other casualty that, in Landlord's opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) or the Building, after its proposed repair, alteration or restoration shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord's option, may, not later than ninety (90) days following the damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any damage shall occur to the Premises or the Building during the last two (2) years of the Term, Landlord shall have the option to terminate this Lease by thirty (30) days prior written notice to Tenant and (ii) Landlord shall not be obligated to repair or restore the Premises or the Building if a holder of a mortgage or underlying leasehold applies proceeds of insurance to the loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord elects to terminate this Lease, the Term shall expire upon the tenth (10th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. If Tenant shall not be in default under this Lease, then upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant's liability for Rent thereafter accruing shall cease as of the day following such damage.
Landlord’s Termination Option. If, at any time and for any reason, Tenant ceases to be the sole occupant of Building A, Landlord shall have the right to terminate the Lease with respect to the Lobby Expansion Space by providing written notice of termination to Tenant. Such termination shall be effective as of the termination date specified in Landlord’s termination notice (the “Accelerated Lobby Expiration Date”). If Landlord exercises such termination option, Tenant shall vacate the Lobby Expansion Space in accordance with the terms of the Lease, as amended hereby, on or prior to the Accelerated Lobby Expiration Date, and Sections 6.2, 6.3 and 6.4 below shall, effective as of the Accelerated Lobby Expiration Date, no longer apply to Building A. Such surrender obligations shall include, without limitation, the obligation to remove and restore, at Tenant’s sole cost and expense, any and all improvements to the Lobby Expansion Space and improvements or modifications made to Building A to accommodate Tenant as sole occupant thereof (including, without limitation, any security systems of Tenant and the Lobby Improvements (as defined in Exhibit B attached hereto)) that are designated by Landlord. Tenant shall remain liable for all obligations under the Lease with respect to the Lobby Expansion Space up to and including the Accelerated Lobby Expiration Date.
Landlord’s Termination Option. Notwithstanding anything to the contrary contained herein, if the Office Complex is damaged or destroyed, whether or not the Premises are damaged or destroyed, from any cause to such an extent that the costs of repairing and restoring the Office Complex would exceed fifty percent (50%) of the replacement value of the Office Complex, Landlord shall have the right to terminate this Lease by written notice to Tenant, provided the leases with all other Tenants in the Office Complex are similarly terminated. This right of termination shall be in addition to any other right of termination provided in this Lease.
Landlord’s Termination Option. Landlord shall have the right at any time to cancel and terminate this Lease in the event Landlord shall decide to demolish or rehabilitate the Building (the “Termination Option”), provided that Landlord shall give notice to Tenant of Landlord’s exercise of the Termination Option not later than six (6) months prior to the proposed termination date set forth in such notice. In the event Landlord shall give such notice of termination pursuant to the provisions of this Article 41, this Lease shall come to an end and expire on the termination date set forth in the notice of termination, with the same force and effect as though said date were the Expiration Date, unless sooner terminated pursuant to any other term, covenant or condition of this Lease, or pursuant to law.
Landlord’s Termination Option. If a Casualty damages the Premises or a material portion of the Building, and (1) Landlord estimates that the damage to the Premises cannot be repaired within the Repair Period, (2) the damage to the Premises exceeds fifty percent (50%) of the replacement cost thereof (excluding foundations and footings), as estimated by Landlord, and such damage occurs during the last two years of the Term, (3) regardless of the extent of damage to the Premises, Landlord makes a good faith determination that restoring the Building would be uneconomical, or (4) Landlord is required to pay any insurance proceeds arising out of the Casualty to a Landlord's Mortgagee, then Landlord may terminate this Lease by giving written notice of its election to terminate within thirty (30) days after the Damage Notice has been delivered to Tenant.
Landlord’s Termination Option. Notwithstanding anything in the Lease to the contrary, Landlord may terminate the Lease with respect to all or a portion of the Premises at any time for any or no reason upon 30 days’ prior written notice to Tenant. Any sublease or lease of all or any portion of the Premises shall terminate all of Tenant’s future payment obligations with respect to that portion of the Premises for the full future Term of the Lease; provided in the case of a sublease or lease of a portion of the Premises the payment obligations with respect to the subject Premises shall be determined equitably and in good faith by Landlord following consultation with Tenant. Upon the effectiveness of the termination of the Lease by Landlord, Tenant shall accrue no further obligations with respect to the portion of the Premises to which the termination applies, except with respect to those provisions of the Lease that, by their express terms, survive the expiration or earlier termination thereof.
Landlord’s Termination Option. Notwithstanding any provisions of the Existing Lease to the contrary, if Tenant fails to comply with any of the provisions of subparagraphs (a), (b) and (c) above of this Section 4.2.1.1, upon four (4) months prior written notice to Tenant, Landlord may terminate the Lease as to the Holding Parcel (exclusive of the Inaccessible Parcel) and/or negotiate and conclude a lease transaction regarding all or a portion of the Holding Parcel (exclusive of the Inaccessible Parcel) with any other potential developers for any development on any terms and conditions acceptable to Landlord in its sole discretion. Landlord shall use reasonable efforts to require that the lease agreement embodying any such lease transaction contain covenants by the lessee to review the scope of the lessee's proposed construction with Tenant, to consider the coordination of such construction with Tenant, and to provide Tenant with the opportunity to comment on the lessee's proposed construction schedule. On or before the termination date specified in Landlord's notice to Tenant, Tenant shall surrender the Holding Parcel (exclusive of the Inaccessible Parcel) to Landlord in accordance with the provisions of the Lease, including, without limitation, Section 5.1.9 thereof.
Landlord’s Termination Option. Landlord shall have the right at any time to cancel and terminate this Lease in the event Landlord shall decide to demolish or rehabilitate the Building (the “Termination Option”), provided that Landlord also terminate at least seventy percent (70%) of all other leases in the Building and Landlord shall give notice to Tenant of Landlord’s exercise of the Termination Option not later than six (6) months prior to the proposed termination date set forth in such notice. In the event Landlord shall give such notice of termination pursuant to the provisions of this Article 41, this Lease shall come to an end and expire on the termination date set forth in the notice of termination, with the same force and effect as though said date were the Expiration Date, unless sooner terminated pursuant to any other term, covenant or condition of this Lease, or pursuant to law.
Landlord’s Termination Option. Landlord shall have the right to terminate this Lease upon the sale of the Resort to a bona fide third party purchaser that is not an Affiliate of Prime Landlord or Landlord upon sixty (60) days prior written notice to Tenant, provided that upon termination of this Lease, Landlord shall pay to Tenant a “Lease Termination Fee” equal to the sum of the following amounts: (a) Two Million Dollars ($2,000,000); plus (b) the unreturned balance, if any, of Tenant’s Initial Capital Investment and Tenant’s Subsequent Capital Investment; plus (c) an amount equal to the Casino NOI for those months, if any, during the last full 12 months prior to the date of termination for which no Percentage Rent was payable, but either Base Rent or Fair Market Rent was payable; plus (d) an amount equal to fifty percent (50%) of the Casino NOI for those months, if any, during the last full 12 months prior to the date of termination for which Percentage Rent was payable. The rights of Landlord under this Section 2.9 shall inure to the benefit of any successor to Landlord, including, without limitation, any lender of Landlord.
