Restoration or Termination Sample Clauses
Restoration or Termination. Within thirty (30) days after the date of fire or other casualty to either Building, Landlord shall notify Tenant whether or not, in Landlord’s reasonable opinion, such repairs can be made within two hundred and seventy (270) days after the date of such damage and Landlord’s reasonable estimate of the time needed for such repairs. If such repairs cannot be made within two hundred and seventy (270) days from the date of such damage, Landlord shall have the option within thirty (30) days after the date of such damage to elect either to: (i) notify Tenant of Landlord’s intention to repair such damage and diligently prosecute such repairs, in which event this Lease shall continue in full force and effect and the Monthly Base Rent and Additional Charges for Expenses and Taxes shall be reduced as provided in Paragraphs 21(a)(i); or (ii) notify Tenant of Landlord’s election to terminate this Lease with respect to the affected Building as of a date specified in such notice, which date shall not be less than thirty (30) days nor more than sixty (60) days after such notice is given and this Lease shall terminate on the date specified in such notice. If Landlord notifies Tenant that restoration or repair of the Building will take more than two hundred and seventy (270) days, Tenant shall have a right to terminate the Lease within respect to the affected Building within thirty (30) days following receipt of Landlord’s notice, by providing Landlord with written notice of its election to do so. In such event (and also in the event Landlord terminates the Lease pursuant to this Paragraph 21(a)(ii), Tenant shall have no liability for payment of the deductible under Landlord’s insurance relating to such damage. In case of termination by either event, the Monthly Base Rent and Additional Charges for Expenses and Taxes shall be reduced by a proportionate amount based upon the extent to which such damage interfered with Tenant’s Permitted Use of the affected Building, and Tenant shall pay such reduced Monthly Base Rent and Additional Charges for Expenses and Taxes up to the effective date of such termination. Landlord agrees to refund to Tenant any Monthly Base Rent and Additional Charges for Expenses and Taxes previously paid for any period of time subsequent to the effective date of such termination with respect to the affected Building. The repairs to be made hereunder by Landlord shall not include, and Landlord shall not be required to repair, any damage by fire or other ...
Restoration or Termination. If the Premises or the Building are damaged by fire or other casualty, Landlord shall forthwith repair the same, provided that such repairs can be made within one hundred eighty (180) days after the date of such damage under the laws and regulations of the federal, state and local governmental authorities having jurisdiction thereof. In such event, this Lease shall remain in full force and effect except that Tenant shall be entitled to a proportionate reduction of Monthly Base Rent and Additional Charges while such repairs to be made hereunder by Landlord are being made. Such reduction of Monthly Base Rent and Additional Charges, if any, shall be based upon the greater of (i) the proportion that the area of the Premises rendered untenantable by such damage bears to the total area of the Premises; or (ii) the extent to which such damage and the making of such repairs by Landlord shall interfere with the business carried on by Tenant in the Premises, and shall be limited to the extent of rental abatement insurance proceeds actually received by Landlord under Landlord’s casualty insurance policy. Within thirty (30) days after the date of such damage, Landlord shall notify Tenant whether or not in Landlord’s reasonable opinion such repairs can be made within one hundred eighty
Restoration or Termination. Notwithstanding Section 20(a), Landlord shall not be obligated to expend more in connection with such correction than the amount of that portion of the severance damages received in the condemnation which is allocated by the court or the condemnor to the expenses of the repair or reconstruction of the Premises or of that portion of the Building or Project requiring correction (or, if the Building or Project also requires repair and reconstruction in areas other than the area of the correction necessary to serve the Premises, then an equitable portion of the amount of severance damages allocated to all such repair and reconstruction). However, if Landlord does not have sufficient proceeds to substantially complete the restoration of the Premises required herein, and if Landlord elects not to fund the shortfall, Landlord shall so notify Tenant (the “Insufficient Proceeds Notice”), and Tenant, within thirty (30) days after receipt of the Insufficient Proceeds Notice, shall have the right to terminate this Lease by the giving of written notice to Landlord. If Tenant does not terminate the Lease, then Landlord shall restore the Premises to the extent possible using the proceeds made available to Landlord for such purpose. Any termination of this Lease pursuant to this Section 20 shall be effective as of the date of vesting of title pursuant to the condemnation or taking, and Landlord shall make a proportionate refund to Tenant of any Monthly Base Rent and recurring Additional Charges that have been paid in advance.
Restoration or Termination. (a) Except as provided to the contrary elsewhere in this Lease, in the event of any damage to the
Restoration or Termination. If the Premises or the Building (including the Tenant Improvements) are damaged by fire or other casualty, Landlord shall forthwith repair the same, provided that such repairs can be made within two hundred ten (210) days after the date of such damage under the laws and regulations of the federal, state and local governmental authorities having jurisdiction thereof. In such event, this Lease shall remain in full force and effect except that Tenant shall be entitled to a proportionate reduction of Monthly Base Rent and Additional Charges while such repairs to be made hereunder by Landlord are being made. Such reduction of Monthly Base Rent and Additional Charges, if any, shall be based upon the greater of (i) the proportion that the area
Restoration or Termination. 34 15.2 TENANT'S PERSONAL PROPERTY.............................................................................35 15.3 LANDLORD'S RIGHT TO TERMINATE..........................................................................35 ARTICLE XVI Condemnation........................................................................................35 16.1 TAKING.................................................................................................35 16.2 AWARDS.................................................................................................36 ARTICLE XVII