Common use of Tenant’s Right to Terminate Clause in Contracts

Tenant’s Right to Terminate. Tenant shall have the right to terminate this Lease following a Casualty if any of the following occurs: (i) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of the date of such notice of election to terminate.

Appears in 3 contracts

Samples: Lease Agreement (St John Knits International Inc), Lease Agreement (St John Knits International Inc), Lease Agreement (St John Knits International Inc)

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Tenant’s Right to Terminate. If all or a substantial part of the Premises are rendered untenantable or inaccessible by damage to all or any part of the Property from fire or other casualty, and Landlord does not elect to terminate as provided above, then Tenant shall have the right may elect to terminate this Lease following a Casualty if any (a) Landlord's estimate of the following occurs: time required to complete Landlord's repair obligations under this Lease is greater than one (i1) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after year from the date of such Landlord's Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the PremisesElection Notice, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (in which determination shall be made and forwarded to event Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects may elect to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give by giving Landlord written notice of its such election to terminate within thirty (30) days after the date of Landlord's Casualty Election Notice, or (b) Landlord (x) does not restore the Premises and the Property within one (1) year following date of Landlord's Casualty Election Notice, and (y) in addition, after the expiration of such one (1) year period, does not complete Landlord's repair obligations under this Lease within forty-five (45) days after Landlord's receipt of Landlord’s Architect’s determination written demand from Tenant to complete such repair obligations, or (c) the fire or within 30 days other casualty occurs during the last year of the applicable restoration period should Landlord fail Term, and would either (i) take longer than ninety (90) days to complete repairs during such period)following the date of the fire or other casualty, and or (ii) would not be completed at least ninety (90) days prior to the expiration of the Term, then Tenant may elect to terminate this Lease during the last year of the Term by giving Landlord written notice of such election to terminate within thirty (30) days following the determination of the time to repair or restore the Premises. In addition, if, following any fire or other casualty, any changes to the Premises and/or Property required by then applicable Law materially, adversely affect Tenant's use and occupancy of the Premises, then Tenant shall have the right to terminate as this Lease by written notice received by Landlord within thirty (30) days after Landlord notifies Tenant of such changes (and Landlord shall not be obligated, to the extent otherwise required under this Section 12, to commence repair and restoration of the Premises/and or the Building until the earlier of the date Tenant's right to terminate this Lease pursuant to the provisions of this sentence expires, or Landlord receives a written waiver of such notice of election to terminatetermination right signed by Tenant).

Appears in 2 contracts

Samples: Lease Agreement (3do Co), Lease Agreement (3do Co)

Tenant’s Right to Terminate. Notwithstanding anything to the contrary contained herein, Tenant shall have the right to terminate this Lease following a Casualty if any by delivering written notice of the following occurs: such termination to Landlord within thirty (i30) days of Tenant’s receipt of Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) Repair Notice if Landlord’s Repair Notice states that the Premises cannot, with reasonable diligence, be repaired damage caused by Landlord to a substantially similar condition as existed prior to such Casualty (or casualty cannot be safely fully repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangerswithin one hundred eighty (180) within 360 days after from the date of such Casualty casualty and the Casualty materially adversely impacts if Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during impaired by the last twelve damage. In addition, if, notwithstanding the time stated in Landlord’s Repair Notice, the damage is not in fact materially restored within two hundred ten (12210) months days of the Lease Term and Landlord’s Architect determines date of casualty (which determination shall be made and forwarded subject to Tenant promptly after such Casualtydelay) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion the Premises is materially impaired during such period, then Tenant may terminate this Lease by delivering written notice to Landlord within ten (10) days after the expiration of such period. Force Majeure shall not apply to extend the Premisestime periods for restoration set forth in this Section 16.5. If Tenant fails to elect to timely terminate this Lease pursuant to the preceding provisions, then such right shall lapse and be of no further force or effect. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3immediately as permitted herein, Tenant Base Rent and Additional Rent shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of xxxxx from the date of the occurrence of such notice casualty to the effective date of election to terminatetermination.

Appears in 2 contracts

Samples: Lease (Fisher Communications Inc), Purchase and Sale Agreement (Fisher Communications Inc)

Tenant’s Right to Terminate. Notwithstanding anything contained herein to the contrary if (i) less than two (2) years remains in the term of the Lease as it may have been extended, (ii) more than twenty-five percent (25%) of the Floor Area of the Premises is damaged or destroyed by fire or other casualty, and (iii) the time to restore the damage or destruction (as reasonably estimated by Landlord) is greater than one hundred eighty (180) days. then Tenant or Landlord. shall have the right to terminate this Lease by giving the other written notice of such termination within thirty (30) days after the date of such casualty or Landlords notification to tenant of the estimated time for completion of restoration. whichever is later. specifying a termination date of at least thirty (30) and not more than ninety (90) days after the date of such notice 0f termination. whereupon this Lease and the tenancy hereby created shall cease as of the date of said termination. the rent to be adjusted and prorated as of such date (if . both Landlord and Tenant give notice, the first notice shall be determinative with regard to the effective date of termination).However, if Landlord gives such a notice and if Tenant then has an unexercised option to extend the Term pursuant to Section 3.1, Tenant may defeat Landlords notice by exercising such option within ten (10) days after delivery of Landlord's notice of termination, in which case this Lease will remain in full force and effect and Landlord will proceed to repair and restore the Premises. If Tenant or Landlord does not give notice of termination within such thirty (30) day period, each shall be deemed to have waived such right of termination and, except as otherwise provided herein, Landlord shall remain obligated to repair and restore the Premises in accordance with the terms hereof and shall commence construction of said repairs within one hundred eighty (180) days of said casualty. If Landlord does not substantially complete the repairs required to be made by Landlord pursuant to this Section 14 within three hundred sixty (360) days of the date of said casualty, then Tenant shall have the right to terminate this Lease following a Casualty if any of the following occurs: (i) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by giving Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of the date of such written notice of election termination following said three hundred sixty (360) day period. However, in the event that Landlord substantially completes said work during said thirty (30) day period, then said right to terminateterminate and termination notice shall be void and of no force or effect.

Appears in 2 contracts

Samples: Assignment and Assumption of Lease and Guaranty (Aei Income & Growth Fund 25 LLC), Assignment and Assumption of Lease and Guaranty (AEI Income & Growth Fund 26 LLC)

Tenant’s Right to Terminate. If (a) Tenant shall have is not able to obtain a Building Permit for the right Initial Alterations to terminate this Lease following a Casualty if any of the following occurs: (i) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days of the Execution Date as a result of a failure of Landlord to repairreasonably cooperate with Tenant’s efforts to secure such Building Permit (provided, however, that Landlord’s obligation to cooperate shall be limited to executing a building permit application and related documentation that is consistent with the final plans approved by Landlord as provided herein), or (iiib) if Tenant is not able to secure an Occupancy Permit within (10) days after completion of the Initial Alterations to the Premises are not actually repaired by Landlord to as a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use result of a material portion condition of the Building or Premises. If , other than the Initial Alterations, for which Landlord is responsible, then, in either such case, Tenant elects at its option may, at any time after the applicable deadline has expired and before the applicable condition has been satisfied, elect to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give by giving Landlord written notice of its election to such election, which notice shall specify in reasonable detail the reason(s) for such termination. If Tenant so elects, then this Lease shall terminate within on the date that is thirty (30) days after receipt delivery of LandlordTenant’s Architect’s determination (or within 30 days termination notice to Landlord with the same force and effect as if such date were the last day of the applicable restoration period should term hereof, unless, on or before the expiration of such thirty-day period, Landlord fail cures the failure that was the ground of the termination, in which event Tenant’s election to complete repairs during such period)terminate shall automatically become void. For purposes of this section, and this Lease Landlord shall terminate as be deemed to have reasonably cooperated if Landlord responds to requests from Tenant within 5 days of the date of such notice the request. EXHIBIT D COMMENCEMENT LETTER Date Tenant Address Re: Commencement Letter with respect to that certain Lease dated as of election to terminate.the day of , , by and between , a , as Landlord, and , as Tenant, for rentable square feet on the floor of the Building located at , Massachusetts, . Dear : In accordance with the terms and conditions of the above referenced Lease, Tenant accepts possession of the Premises and agrees:

Appears in 2 contracts

Samples: Office Lease Agreement (Oxford Immunotec Global PLC), Office Lease Agreement (Oxford Immunotec Global PLC)

Tenant’s Right to Terminate. Tenant shall have the right option to terminate this Lease following upon giving notice in writing of such election to Landlord within sixty (60) days after Tenant’s receipt of written notice that a Casualty if any portion of the following occurs: (i) Landlord’s Architect determines (which determination Premises has been or shall be made and forwarded to Tenant promptly after such Casualtyso taken if, (a) that there is a Taking of more than twenty-five percent (25%) of the rentable square feet of the Premises cannotand Tenant reasonably determines that such Taking will have a material adverse impact upon Tenant’s business, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty or (or cannot be safely repaired b) because of the presence laws then in force, the Premises may not be used for the same use being made before such Taking, whether or not restored. This Lease shall terminate effective as of hazardous factorsthe date Tenant is required to vacate the portion of the Premises taken. Notwithstanding anything to the contrary in this paragraph, includingif within 20 days after Landlord’s receipt of the Tenant’s termination notice under this paragraph, but not limited toLandlord notifies Tenant that Landlord at its cost will add to the remaining Premises so that the area of the Premises will be substantially the same after the Condemnation as they were before the Condemnation, Hazardous Materials, earthquake faults and other similar dangerssuch work will be completed within six (6) within 360 days months after the date of such Casualty taking, and further provided that Landlord commences the Casualty materially adversely impacts Tenant’s use restoration promptly after Landlord so notifies Tenant and completes the required work within such six (6) month period, then all obligations of a material portion Tenant under this Lease remain in effect, except that Monthly Rental and all Additional Rent will be abated or reduced during the period from the date of condemnation until the completion of such restoration by the ratio of (A) the area of the PremisesPremises taken to (B) the area of the Premises immediately before the Date of Condemnation, or (ii) if the remainder of the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination not usable by Tenant for its intended purposes hereunder, then rent shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of the date of such notice of election to terminateentirely abated.

Appears in 2 contracts

Samples: Lease (Neurocrine Biosciences Inc), Lease (Neurocrine Biosciences Inc)

Tenant’s Right to Terminate. In the event (i) a Casualty occurs and it is reasonably determined by an independent contractor selected by Tenant and Approved by the Landlord Representative (such Approval not to be unreasonably withheld) that it will take longer than two (2) years from the commencement of the Casualty Repair Work to complete the Casualty Repair Work with respect to the Leased Premises or (ii) a Casualty occurs during the last five (5) years of the Term and (a) it is reasonably determined by an independent contractor selected by Tenant and Approved by the Landlord Representative (such Approval not to be unreasonably withheld) that it will take longer than one (1) year from the commencement of the Casualty Repair Work to complete the Casualty Repair Work with respect to the Leased Premises or (b) it is reasonably determined by an independent contractor selected by Tenant and Approved by the Landlord Representative (such Approval not to be unreasonably withheld) that it will cost more than sixty percent (60%) of the replacement cost of Project Improvements to complete the Casualty Repair Work with respect to the Leased Premises, then Tenant may, at its option (exercised within one hundred eighty (180) calendar days after such Casualty), terminate this Lease by satisfying each of the following which shall have be conditions precedent to the right effectiveness of any such termination (x) serving Notice upon Landlord within such period setting forth Tenant’s election to terminate this Lease following as a result of such Casualty if any as of the following occurs: (i) Landlord’s Architect determines (end of the calendar month in which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired Notice is received by Landlord and (y) paying to a substantially similar condition as existed prior to Landlord, concurrently with the service of such Casualty (or cannot be safely repaired because of Notice, the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults Rent and other similar dangers) within 360 days after payments, including Impositions, which would otherwise have been payable up to the effective date of such Casualty termination. Upon the service of such Notice and the Casualty materially adversely impacts making of such payments within the period aforesaid, this Lease shall cease and terminate on the date specified in such Notice with the same force and effect as if such date were the date originally fixed as the Lease Expiration Date. In addition to Tenant’s use of a material portion of obligations under Article XXII, Tenant shall thereafter be obligated to demolish and remove all debris with respect to the Premises, or (ii) the Leased Premises is destroyed or materially which have been damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty in a manner consistent with Section 9.4 and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises9.5, if Landlord so requires. If Failure by Tenant elects to terminate this Lease following a Casualty pursuant within the foregoing time period shall constitute an election by Tenant to keep this Section 7.3Lease in full force and effect, in which event Tenant shall give Landlord written notice commence to perform the Casualty Repair Work in accordance with the terms of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of the date of such notice of election to terminateLease.

Appears in 2 contracts

Samples: Ground Lease Agreement, Lease Agreement

Tenant’s Right to Terminate. If MAC notifies Tenant shall have the that MAC is exercising its right to terminate unilaterally amend this Lease following to exclude a Casualty if any portion of the following occurs: Leased Property pursuant to Section 16.1 [Right to Terminate or Unilaterally Amend], Tenant may, within fourteen (14) days of receipt of the Notice of Termination, notify MAC that (i) Landlordthe remaining Leased Property is not sufficient to allow Tenant to continue to use the Leased Property in all material respects as Tenant used it immediately prior to MAC’s Architect determines delivery of the Notice of Termination (which determination shall use must be made and forwarded to Tenant promptly after such Casualtypermitted under Section 3 [Use of Leased Property] of this Lease) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months effect of the Lease Term amendment materially prevents a use as permitted under Section 3 [Use of Leased Property], and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) ask that such damage will require more than MAC terminate the Lease. If MAC does not, within sixty (60) days to repairof MAC’s receipt of such notice, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects agree to terminate this Lease following rather than unilaterally amend this Lease, Tenant may, within forty-five (45) days after the expiration of the sixty (60) day period, commence a Casualty district court action seeking to terminate this Lease and Tenant shall be entitled to a judgment terminating this Lease if, and only if, the Court determines that (i) the remaining Leased Property is not sufficient to allow Tenant to continue to use the Leased Property in all material respects as Tenant used it immediately prior to MAC’s delivery of the Notice of Termination (which use must be permitted under Section 3 [Use of Leased Property] of this Lease) or (ii) the effect of the amendment materially prevents a use as permitted under Section 3 [Use of Leased Property]. In any such action, the burden of proof shall be on Tenant. If Xxxxxx does not commence such an action within the 45 day period, Tenant may not, thereafter, contest the unilateral amendment of this Lease. If Xxxxxx does commence such an action within the 45 day period, the process for the determination of the compensation, as set forth in Section 16.6 [Payment of Compensation for Improvements] below, that MAC must pay Tenant will be stayed until the Court determines if the Lease is terminated in whole or in part. A termination pursuant to this Section 7.3, 16.3 shall be a termination that entitles Tenant shall give Landlord written notice to compensation under Section 16.6 [Payment of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of the date of such notice of election to terminateCompensation for Improvements] below.

Appears in 2 contracts

Samples: Aircraft Storage Lease Agreement, Lease Agreement

Tenant’s Right to Terminate. If all or a substantial portion of the Premises is rendered untenantable or inaccessible by damage from fire or other casualty, and Landlord does not elect to terminate as provided above, then Tenant may elect to terminate this Lease if Landlord’s estimate of the time required to complete Landlord’s repair obligations under this Lease is greater than nine months, or if Landlord elects not to repair the Premises pursuant to the provisions of Section 12.2 (Landlord’s Right to Terminate), in which event Tenant may elect to terminate this Lease by giving Landlord notice of such election to terminate within 30 days after Landlord’s notice to Tenant pursuant to Section 12.2; provided, however, that Tenant’s right to terminate under this Section 12.3 shall not apply to any portion of the Premises that is not rendered untenantable or inaccessible from such fire or other casualty unless more than fifty percent (50%) of the total Premises is rendered untenantable or inaccessible from such fire or other casualty and Landlord estimates that the time required to complete Landlord’s repair obligations is greater than nine months). In addition, if, after 300 days following the date of the casualty, the repairs and restoration to the Premises or the Building are not substantially completed, then Tenant shall have the right to give Landlord a conditional termination notice (the “Conditional Termination Notice”) within ten Business Days following the expiration of such 300-day period. If the repairs and restoration to the Premises or the Building are not substantially completed within 45 days following the Conditional Termination Notice, then within ten Business Days following the expiration of such 45-day grace period Tenant shall have the right to terminate this Lease following a Casualty if any of the following occurs: (i) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of the date of such notice of election to terminate.

Appears in 2 contracts

Samples: Lease (LendingClub Corp), Lease (LendingClub Corp)

Tenant’s Right to Terminate. If all or a substantial part of the Premises are rendered untenantable or inaccessible by damage to all or any part of the Property from fire or other casualty, and Landlord does not elect to terminate as provided above, then Tenant shall have the right may elect to terminate this Lease following a Casualty (a) if any Landlord's estimate of the following occurs: time required to complete Landlord's repair obligations under this Lease is greater than nine (i9) Landlord’s Architect determines (months, in which determination shall be made and forwarded to event Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects may elect to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give by giving Landlord written notice of its such election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination 's notice to Tenant pursuant to Section 12.2 - Landlord's Right to Terminate, or (or within 30 days b) if Landlord's estimate of the applicable restoration period should Landlord fail time required to complete repairs during such period), and Landlord's repair obligations under this Lease shall terminate as of is less than or equal to nine (9) months and Landlord fails to substantially complete Landlord's repair obligations within ten (10) months after the date of such the casualty, in which event Tenant may elect to terminate this Lease by giving Landlord notice of such election to terminate no later than the date thirty (30) days after the expiration of such ten (10) month period, provided, however, that such election to terminate shall be deemed ineffective and retroactively revoked if Landlord substantially completes Landlord's repair obligations within thirty (30) days after Landlord receives Tenant's notice of such election to terminate.

Appears in 1 contract

Samples: Part of Lease Agreement (Imall Inc)

Tenant’s Right to Terminate. Tenant shall have the right to terminate this Lease following a Casualty if any of the following occurs: (i) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than Within sixty (60) days after the Casualty, the Authority shall deliver to repair, Tenant a written estimate from an engineering or (iii) consulting firm selected by the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and Authority stating the Casualty materially adversely impacts Tenant’s use of a material portion estimated date for substantial completion of the Premisesrepairs or restoration to the Facilities (the “Estimated Completion Date”). If all or a substantial part of the Leased Premises is rendered untenantable or inaccessible as a result of the Casualty, and if the Estimated Completion Date for the repairs and restoration is more than six (6) months after the date of the Casualty, Tenant may cancel and terminate this Lease Agreement with all Rental paid or refunded so as to adjust to the date of such Casualty. Tenant will notify the Authority, in writing, that Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate Agreement within thirty (30) days after receipt of Landlordfrom the date Tenant receives the Authority’s Architect’s determination (or within 30 days written estimate of the applicable restoration period should Landlord fail to complete repairs during such period)Estimated Completion Date. If Tenant does not terminate this Lease Agreement in accordance with the preceding sentence, and if the Authority does not terminate this Lease Agreement in accordance with subsection (B) above, the Authority shall proceed with reasonable diligence with respect to the repairs and restoration pursuant to this Section, but subject in all respects to subsections (A)(1) and (A)(2) above. Notwithstanding anything in this subsection (C) to the contrary, Tenant shall not have the right to cancel and terminate as this Lease Agreement if any fault or negligence of Tenant, its subtenants, or their respective agents, contractors, Employees, or Invitees substantially contributed to the date cause of such notice of election to terminateCasualty.

Appears in 1 contract

Samples: Lease Agreement (Aar Corp)

Tenant’s Right to Terminate. lf all or a substantial part of the Premises is rendered untenantable or inaccessible by damage from fire or other casualty, and Landlord does not elect to terminate as provided above, then Tenant shall have the right may elect to terminate this Lease following a Casualty if any Landlord’s estimate of the following occurs: (i) time required to complete Landlord’s Architect determines repair obligations under this Lease is greater than nine (which determination shall be made and forwarded 9) months, or if Landlord elects not to Tenant promptly after such Casualty) that repair the Premises cannot, with reasonable diligence, be repaired by Landlord pursuant to a substantially similar condition as existed prior to such Casualty the provisions of Section 12.2 (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (Right to Terminate), in which determination shall be made and forwarded to event Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects may elect to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give by giving Landlord written notice of its such election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination notice to Tenant pursuant to Section 12.2. In addition, if, after three hundred (or within 30 300) days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of following the date of the casualty, the repairs and restoration to the Premises or the Building are not substantially completed, then Tenant shall have the right to give Landlord a conditional termination notice (the “Conditional Termination Notice”) within ten (10) Business Days following the expiration of such 300 day period. If the repairs and restoration to the Premise or the Building are not substantially completed within thirty (30) days following Landlord’s receipt of the Conditional Termination Notice, then within ten (10) Business Days following the expiration of such 30-day grace period Tenant shall have the right to terminate this Lease by written notice of election to terminateLandlord. Notwithstanding anything to the contrary contained herein, Tenant shall have no right under this Section to terminate this Lease as to any Floor that is not rendered untenantable or inaccessible from fire or other casualty. For example, if the 19th Floor is untenantable or inaccessible from fire or other casualty but the 20th Floor is not, then Tenant shall have no right to terminate the Lease as to the 20th Floor.

Appears in 1 contract

Samples: Assignment and Assumption of Lease (LendingClub Corp)

Tenant’s Right to Terminate. If the Leased Premises or any portion of the Common Areas reasonably necessary for Tenant’s use of the Leased Premises, or any portion of the Parking Areas such that Tenant does not have access to the number of parking spaces contemplated by this Lease are damaged by any peril and Landlord does not elect to terminate this Lease or is not entitled to terminate this Lease pursuant to this Article, then as soon as reasonably practicable, following Xxxxxx’s written request for the same, Landlord shall furnish Tenant with the reasonable written opinion of Xxxxxxxx’s architect or construction consultant as to when the restoration work required of Landlord may be completed. Should the Leased Premises (or applicable portion of the Common Areas or Parking Areas) be materially damaged such that the Leased Premises (or applicable portion of the Common Areas or Parking Areas) are reasonably unsuitable for Tenant’s continued use of the same as a result of such damage, Tenant shall have the right option to terminate this Lease following a Casualty if in the event any of the following occurs, which option may be exercised only by delivery to Landlord of a written notice of election to terminate within thirty (30) days after Xxxxxx receives from Landlord the estimate of the time needed to complete such restoration: A. The Leased Premises (ior applicable portion of the Common Areas or Parking Areas) are materially damaged by any peril such that the Leased Premises (or applicable portion of the Common Areas or Parking Areas) are not reasonably suitable for Tenant’s continued use of the same as a result of such damage and, in the reasonable opinion of Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that architect or construction consultant, the restoration of the Leased Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or applicable portion of the Common Areas or Parking Areas) cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangerssubstantially completed within two hundred twenty (220) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material damage, or B. The Leased Premises (or applicable portion of the Premises, Common Areas or (iiParking Areas) the Premises is destroyed or materially are damaged during by any peril within the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) as extended by the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of the date of such notice of election to terminate.previous

Appears in 1 contract

Samples: Lease Agreement (Sumo Logic, Inc.)

Tenant’s Right to Terminate. Tenant shall have Notwithstanding the right to terminate this Lease following a Casualty foregoing, if at any time during the last five (5) years of the following occurs: Term there is a Casualty, and the insurance policies required to be maintained pursuant to Article 10 hereof are in full force and effect, then Tenant, (i) Landlord’s Architect if it reasonably determines (which determination shall be made and forwarded that it is not practicable to Tenant promptly after such Casualty) that restore the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) if it reasonably determines that it cannot restore the Premises is destroyed or materially damaged during the last twelve Intrepid, may advise Landlord, not later than ninety (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (6090) days to repairfrom the date of said Xxxxxxxx, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant that it elects to terminate this Lease following Lease. Such termination shall be made by (A) serving upon Landlord, at any time within said ninety (90) day period, a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt days’ written notice of LandlordTenant’s Architectelection to so terminate, and (B) assigning over to Landlord all of Tenant’s determination (or within 30 days right, title and interest in and to all available insurance and other proceeds payable on account of the Pier and the other Improvements due to such damage or destruction, in an amount equal to the greater of (x) the proceeds applicable restoration to the Pier and the other Improvements thereon (but excluding the Vessels) and (y) the proceeds required to restore the Pier and the other Improvements (but excluding the Vessels) thereon to the condition existing prior to such Casualty, but subject, nevertheless, to the continuing obligation of Tenant to reasonably assist (to the extent necessary) in the prosecution of all insurance and other claims relating to the Casualty. Upon the service of such notice and the making of such assignment and payment within the period should Landlord fail to complete repairs during such period)aforesaid, and this Lease shall terminate on the date specified in such notice with the same force and effect as if such date were the Expiration Date, and Tenant shall comply with the termination and surrender requirements of Article 28 hereof, but only to the extent reasonably feasible. Any amounts due and owing to Landlord up to and including the date of such notice of election to terminatetermination shall survive termination and shall be payable in accordance with this Lease.

Appears in 1 contract

Samples: Lease Agreement

Tenant’s Right to Terminate. Tenant shall have In the right event that Landlord does not elect to terminate this Lease following pursuant to Section 13.3 hereof, Landlord shall deliver to Tenant a Casualty if any written determination of an engineering or architectural firm selected by Landlord stating the estimated time for substantial completion of the following occurs: (i) Landlord’s Architect determines (restoration of the damaged portion of the Building that will render the Premises accessible, which determination shall be made and forwarded sent to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more no later than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of the date of the Casualty. The date that such engineering or architectural firm so concludes that substantial completion can be accomplished is hereinafter called the “Estimated Completion Date”. Tenant may elect to terminate this Lease under the following circumstances: (i) if the Casualty occurs during the last 24 months of the Term and if the Estimated Completion Date is more than one hundred fifty (150) days after the date of the engineering or architectural firm’s report of substantial completion, and provided that Tenant’s written notice of termination is received by Landlord no more than ten (10) days after Tenant’s receipt of the engineering or architectural firm’s written determination of substantial completion; (ii) if Landlord shall not commence, in good faith, repair and restoration work within ninety (90) days after the Casualty, provided, however, Tenant’s termination notice shall be deemed null, void and of no force or effect in the event Landlord commences, in good faith, the repair and restoration work prior to expiration of the aforesaid thirty (30) day period and provides written notice thereof to Tenant; or (iii) if Landlord shall fail with all due diligence to continue with such repair and restoration work to completion within 8-months after the date of the Casualty), then Tenant shall have the right in addition to all other rights and remedies available at law, in equity, or under this Lease, to terminate this Lease by giving 30-days prior written notice of its election so to terminatedo to Landlord, provided, however, Tenant’s termination notice shall be deemed null, void and of no force or effect in the event Landlord substantially completes such restoration at any time prior to the expiration of the aforesaid thirty (30) day period and provides written notice thereof to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Ultimate Software Group Inc)

Tenant’s Right to Terminate. If all or a substantial part of the Premises are rendered untenantable or inaccessible by damage to all or any part of the Property from fire or other casualty, and Landlord does not elect to terminate as provided above, then Tenant may elect to terminate this Lease if the reasonable estimate, by an independent general contractor engaged by Landlord, of the time required to complete Landlord’s repair obligations under this Lease is greater than 270 days from the date of the casualty, in which event Tenant may elect to terminate this Lease by giving Landlord notice of such election to terminate within fifteen (15) days after Landlord’s notice to Tenant pursuant to Section 12.2. If Tenant elects to terminate this Lease, the Lease shall terminate thirty (30) days after the date Landlord receives notice of Tenant’s election. Further, notwithstanding the foregoing, if Landlord elects, or is required to repair the Premises or the Building in accordance with the terms of this Lease and if the repairs are not completed within 270 days (regardless of the time estimated for completion of the repairs), subject to extension for any Force Majeure Delays (up to, but not in excess of, a total of ninety (90) days of any such Force Majeure Delays) or other delays caused by Tenant, Tenant shall have the right to terminate this Lease following a Casualty if any of the following occurs: (i) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord delivering written notice of its election thereof to terminate Landlord within thirty (30) days after receipt the expiration of Landlord’s Architect’s determination the 270-day period (or within 30 as the same may be extended by up to ninety (90) days of the applicable restoration period should Landlord fail to complete repairs during such periodForce Majeure Delays or delays caused by Tenant), and this Lease shall terminate as with any such termination effective thirty (30) days after delivery of the date of such notice of election to terminatetermination.

Appears in 1 contract

Samples: Lease Agreement (Verigy Ltd.)

Tenant’s Right to Terminate. Tenant shall have the right option to terminate this Lease following a Casualty if any the Premises or the Building is destroyed or damaged by fire or other casualty to an extent that materially and adversely impacts Tenant's use and enjoyment of the following occurs: (i) Landlord’s Architect Premises, regardless of whether the casualty is insured against under this Lease, and Landlord reasonably determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the repair or restoration of the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or the Building cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangerssubstantially completed within three hundred (300) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use issuance of a material permits for the necessary repair or restoration of the portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premiseswas damaged. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within Within thirty (30) days after Landlord learns of the necessity for repairs as a result of the casualty, Landlord shall notify Tenant in writing ("Repair Notice") as to Landlord's determination of the number of days required to repair or restore the Premises after the receipt of Landlord’s Architect’s determination such permits. If Tenant elects to exercise its right to terminate this Lease as a result of a casualty, Tenant shall exercise the right by written notice to Landlord within fifteen (or within 30 15) days after delivery of the applicable restoration period should Landlord fail to complete repairs during such period)Repair Notice, and in which event this Lease shall terminate fifteen (15) days after the delivery of Tenant's termination notice. Except as otherwise expressly provided in this Section 14.3, Tenant waives all rights it may have to terminate this Lease as a result of damage to the date of such notice of election Premises or Building pursuant to terminaterights presently or hereafter accorded by law, equity or otherwise.

Appears in 1 contract

Samples: Allos Therapeutics Inc

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Tenant’s Right to Terminate. If all or a substantial part of the Premises is rendered untenantable or inaccessible by damage from fire or other casualty, and Landlord does not elect to terminate as provided above, then Tenant shall have the right may elect to terminate this Lease following a Casualty if any Landlord’s estimate of the following occurs: (i) time required to complete Landlord’s Architect determines repair obligations under this Lease is greater than nine (which determination shall be made and forwarded 9) months, or if Landlord elects not to Tenant promptly after such Casualty) that repair the Premises cannot, with reasonable diligence, be repaired by Landlord pursuant to a substantially similar condition as existed prior to such Casualty the provisions of Section 12.2 (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (Right to Terminate), in which determination shall be made and forwarded to event Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects may elect to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give by giving Landlord written notice of its such election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination notice to Tenant pursuant to Section 12.2. In addition, if, after three hundred (or within 30 300) days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of following the date of the casualty, the repairs and restoration to the Premises or the Building are not substantially completed, then Tenant shall have the right to give Landlord a conditional termination notice (the “Conditional Termination Notice”) within thirty (30) days following the expiration of such three hundred (300) day period. If the repairs and restoration to the Premise or the Building are not substantially completed within thirty (30) days following Landlord’s receipt of the Conditional Termination Notice, then within ten (10) Business Days following the expiration of such thirty (30) day grace period Tenant shall have the right to terminate this Lease by written notice of election to terminateLandlord.

Appears in 1 contract

Samples: Lease (LendingClub Corp)

Tenant’s Right to Terminate. If Landlord does not elect to --------------------------- terminate this Lease pursuant to Landlord's termination right as provided above, and the repairs of such damage cannot, in the reasonable judgment of the contractor selected by Landlord to complete such repairs, be completed to the standard set forth in Section 11.1, above, within two hundred forty (240) days after the Damage Date (which two hundred forty (240) day period shall not be subject to extension as a result of any "Force Majeure" as that term is defined in Article 21, below), Landlord shall, within sixty (60) days after the Damage Date, deliver notice of such fact to Tenant. Within thirty (30) days after Tenant's receipt of such notice, Tenant may elect to terminate this Lease by written notice to Landlord effective as of the date specified in Tenant's notice, which date may be up to ninety (90) days following the date of the notice. Furthermore, if neither Landlord nor Tenant has terminated this Lease, and the repairs are not actually completed within such two hundred forty (240) day period, as such period is extended by Force Majeure delays and Tenant Delays, Tenant shall have the right to terminate this Lease following a Casualty if any within five (5) business days of the end of such period and thereafter during the first five (5) business days of each calendar month following occurs: the end of such period until such time as the repairs are complete, by notice to Landlord (i) Landlord’s Architect determines the "Damage Termination Notice"), effective as of a date set forth in the Damage Termination Notice (the "Damage Termination Date"), which determination Damage Termination Date shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because less than five (5) business days following the end of such period or each such month, as the case may be. Notwithstanding the foregoing, if Tenant delivers a Damage Termination Notice to Landlord, then Landlord shall have the right, which may only be exercised once with respect to any specific event of damage or destruction, to suspend the occurrence of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangersDamage Termination Date for a period ending thirty (30) within 360 days after the date Damage Termination Date set forth in the Damage Termination Notice by delivering to Tenant, within five (5) business days of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion Landlord's receipt of the PremisesDamage Termination Notice, or (ii) a certificate of Landlord's contractor responsible for the Premises is destroyed or materially damaged during the last twelve (12) months repair of the Lease Term and Landlord’s Architect determines (which determination damage certifying that it is such contractor's good faith judgment that the repairs shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate completed within thirty (30) days after receipt the Damage Termination Date. If repairs shall be substantially completed prior to the expiration of Landlord’s Architect’s determination (such thirty-day period, then the Damage Termination Notice shall be of no force or effect, but if the repairs shall not be substantially completed within 30 days of the applicable restoration period should Landlord fail to complete repairs during such thirty-day period), and then this Lease shall terminate as upon the expiration of such thirty-day period. At any time, from time to time, after the date occurring thirty (30) days after the Damage Date, Tenant may request that Landlord provide Tenant with a certificate from the or contractor described above setting forth such contractor's reasonable opinion of the date of completion of the repairs and Landlord shall respond to such notice of election to terminaterequest within five (5) business days.

Appears in 1 contract

Samples: Office Lease (Wells Real Estate Investment Trust Inc)

Tenant’s Right to Terminate. Tenant shall have In the right event that Landlord does not elect to terminate this Lease following pursuant to Section 13.3 hereof, Landlord shall deliver to Tenant a Casualty if any written determination of an engineering or architectural firm selected by Landlord stating the estimated time for substantial completion of the following occurs: (i) Landlord’s Architect determines (restoration of the damaged portion of the Premises or that part of the Building that will render the Premises accessible, which determination shall be made and forwarded sent to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more no later than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of the date of the Casualty. The date that such engineering or architectural firm so concludes that substantial completion can be accomplished is hereinafter called the “Estimated Completion Date”. Tenant may elect to terminate this Lease under the following circumstances: (i) if the Casualty occurs during the last 24 months of the Term and if the Estimated Completion Date is more than one hundred fifty (150) days after the date of the engineering or architectural firm’s report of substantial completion, and provided that Tenant’s written notice of termination is received by Landlord no more than ten (10) days after Tenant’s receipt of the engineering or architectural firm’s written determination of substantial completion; (ii) if Landlord shall not commence, in good faith, repair and restoration work within ninety (90) days after the Casualty, provided, however, Tenant’s termination notice shall be deemed null, void and of no force or effect in the event Landlord commences, in good faith, the repair and restoration work prior to expiration of the aforesaid thirty (30) day period and provides written notice thereof to Tenant; or (iii) if Landlord shall fail with all due diligence to continue with such repair and restoration work to completion within 8-months after the date of the Casualty), then Tenant shall have the right in addition to all other rights and remedies available at law, in equity, or under this Lease, to terminate this Lease by giving 30-days prior written notice of its election so to terminatedo to Landlord, provided, however, Tenant’s termination notice shall be deemed null, void and of no force or effect in the event Landlord substantially completes such restoration at any time prior to the expiration of the aforesaid thirty (30) day period and provides written notice thereof to Tenant.

Appears in 1 contract

Samples: Lease Agreement (Ultimate Software Group Inc)

Tenant’s Right to Terminate. Tenant shall have the right option to terminate this Lease following a Casualty if any the Premises or the Building is destroyed or damaged by fire or other casualty to an extent that materially and adversely impacts Tenant's use and enjoyment of the following occurs: (i) Landlord’s Architect Premises, regardless of whether the casualty is insured against under this Lease, and Landlord reasonably determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the repair or restoration of the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or the Building cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangerssubstantially completed within three hundred (300) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use issuance of a material permits for the necessary repair or restoration of the portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premiseswas damaged. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within Within thirty (30) days after Landlord learns of the necessity for repairs as a result of the casualty, Landlord shall notify Tenant in writing ("REPAIR NOTICE") as to Landlord's determination of the number of days required to repair or restore the Premises after the receipt of Landlord’s Architect’s determination such permits. If Tenant elects to exercise its right to terminate this Lease as a result of a casualty, Tenant shall exercise the right by written notice to Landlord within fifteen (or within 30 15) days after delivery of the applicable restoration period should Landlord fail to complete repairs during such period)Repair Notice, and in which event this Lease shall terminate fifteen (15) days after the delivery of Tenant's termination notice. Except as otherwise expressly provided in this Section 14.3, Tenant waives all rights it may have to terminate this Lease as a result of damage to the date of such notice of election Premises or Building pursuant to terminaterights presently or hereafter accorded by law, equity or otherwise.

Appears in 1 contract

Samples: Office Lease (Allos Therapeutics)

Tenant’s Right to Terminate. If the Leased Premises, the Buildings or the Outside Area are damaged by any peril and Landlord does not elect to terminate this Lease or is not entitled to terminate this Lease pursuant to this Article, then as soon as reasonably practicable, Landlord shall furnish Tenant with the written opinion of Landlord's architect or construction consultant as to when the restoration work required of Landlord may be complete. Tenant shall have the option to terminate this Lease in the event any of the following occurs, which option may be exercised only by delivery to Landlord of a written notice of election to terminate within seven days after Tenant receives from Landlord the estimate of the time needed to complete such restoration: If the time estimated to substantially complete the restoration exceeds twelve months from and after the date the architect's or construction consultant's written opinion is delivered; or If the damage occurred within twelve months of the last day of the Lease Term and the time estimated to substantially complete the restoration exceeds one hundred eighty days from and after the date such restoration is commenced. If Landlord does not elect to terminate this Lease or is not entitled to terminate this Lease pursuant to this Article and Landlord fails to restore the improvements it is required to restore by this Article within fifteen (15) months of the date the architect's or construction consultant's written opinion is delivered, then Tenant also shall have the right to terminate this Lease following a Casualty if any of the following occurs: upon one hundred twenty (i120) Landlord’s Architect determines (which determination shall be made and forwarded days written notice to Tenant promptly Landlord delivered after such Casualtyfifteen (15) that month period whereupon the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of on the date one hundred twentieth day after Landlord's receipt of such notice of election notice; provided, however, that in the event Landlord does so restore pursuant to terminateits obligations under this Article within such one hundred twenty (120) day period, Tenant's termination right shall be void and without force and effect.

Appears in 1 contract

Samples: Lease (Cell Genesys Inc)

Tenant’s Right to Terminate. Tenant shall have the right to terminate this Lease following a Casualty damage to or destruction of the Premises if any of the following occurs: (i) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannotnot reasonably be expected to, with reasonable diligence, be fully repaired by Landlord to a substantially similar condition as existed prior to such Casualty within twenty-four (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers24) within 360 days months after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, damage or destruction; or (ii) the Premises is are destroyed or materially damaged during the last twelve twenty-four (1224) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the PremisesTerm. If Tenant a party elects to terminate this Lease following a Casualty pursuant to this Section 7.320 and has the right to so terminate, Tenant shall such party will give Landlord the other party written notice of its election to terminate within thirty (30) days after receipt of (a) with respect to the Landlord, Landlord’s Architectdelivery of the Damage Determination Notice under Section 20.6 indicating the satisfaction of the conditions set forth in Section 20.2, and (b) with respect to Tenant, Tenant’s determination (or within 30 days receipt of the applicable restoration period should Damage Determination Notice under Section 20.6 and the satisfaction of the conditions set forth in Section 20.3; and in such case this Lease will terminate fifteen (15) days after receipt of such notice. If this Lease is terminated pursuant to Sections 20.2 or 20.3, Landlord fail shall, subject to complete repairs during such periodthe rights of its lender(s), be entitled to receive and retain all the insurance proceeds resulting from the applicable damage or destruction, except for those proceeds which are (i) payable under policies obtained by Tenant which specifically insure Tenant’s personal property and machinery, and (ii) applicable to property that Tenant would be permitted to remove from the Premises upon the expiration or termination of this Lease shall pursuant to this Lease. If neither party elects to terminate as of the Lease, Landlord shall, promptly following the date of such notice damage or destruction and receipt of election commitments for the amounts required of Tenant pursuant to terminateSection 20.2(i) above, commence the process of obtaining necessary permits and approvals, and shall diligently commence repair of the Premises as soon as practicable and thereafter prosecute the same diligently to completion, in which event this Lease will continue in full force and effect.

Appears in 1 contract

Samples: Lease Agreement (Isis Pharmaceuticals Inc)

Tenant’s Right to Terminate. If all or a substantial part of the --------------------------- Premises are rendered untenantable or inaccessible by damage to all or any part of the Property from fire or other casualty, and Landlord does not elect to terminate as provided above, then Tenant shall have the right may elect to terminate this Lease following a Casualty if any (a) Landlord's estimate of the following occurs: time required to complete Landlord's repair obligations under this Lease is greater than two hundred seventy (i270) Landlord’s Architect determines (days, in which determination shall be made and forwarded to event Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects may elect to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give by giving Landlord written notice of its such election to terminate within thirty (30) days after receipt Landlord's notice to Tenant pursuant to Section 12.2 - Landlord's Right to Terminate, or (b) Landlord does not complete Landlord's repair obligations under this Lease within thirty (30) days after Tenant gives Landlord written notice of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Tenant's intention to terminate this Lease after Landlord fail has failed to complete repairs during such period), and Landlord's repair obligations under this Lease shall terminate as of within two hundred seventy (270) days following the date of such the fire or other casualty, or (c) the fire or other casualty occurs during the last year of the Term, and would take longer than ninety (90) days to repair, then Tenant may elect to terminate this Lease during the last year of the Term by giving Landlord written notice of such election to terminateterminate within thirty (30) days after it is determined that the repair would take longer than ninety (90) days.

Appears in 1 contract

Samples: Part of Lease Agreement (Natus Medical Inc)

Tenant’s Right to Terminate. If the Premises or the Building shall be damaged or destroyed by fire, windstorm or any other insured casualty, the Tenant shall have the right immediately give written notice thereof to terminate Landlord and unless this Lease following a Casualty is terminated as hereinafter provided, the Landlord, at his own expense, shall repair or rebuild the same so as to restore the Premises to substantially the same condition they were in immediately prior to such damage or destruction, subject however, to zoning and building laws then in existence, provided that the Landlord shall not be responsible for any delay in such repair or reconstruction which may result from any cause beyond its reasonable control, and provided further that the Landlord shall not be required to expend more than the net amount of insurance proceeds, if any received, by Landlord for such purposes, plus the amount of any deductible, so long as the Landlord maintains the insurance required of it under this Lease and so long as the Landlord uses best commercial efforts to promptly get the maximum allowable proceeds related thereto. Notwithstanding the foregoing, the Landlord within 30 days after receipt of said written notice of damage, shall inform the Tenant whether or not said damage can be repaired within 120 days, based upon a reasonable estimate of the following occurs: Landlord's architect and engineer. If the Landlord notifies the Tenant it cannot repair or rebuild the Premises so as to restore the same to substantially the same condition they were in immediately prior to the destruction within said 120 days or (i) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that if the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or canis not be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) restored within 360 120 days after from the date the Landlord notifies the Tenant of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premisesits intent to restore, or (ii) if there is no notice at all from the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of from the date of loss, then in any such events, the Tenant may elect to cancel this Lease upon five days written notice of election to terminatethe Landlord.

Appears in 1 contract

Samples: Adaptive Broadband Corp

Tenant’s Right to Terminate. Tenant shall have the option to terminate this Lease if the Premises or the Building is destroyed or damaged by fire or other casualty, regardless of whether the casualty is insured against under this Lease, if the repair or restoration of the Premises or the Building cannot be completed within one hundred eighty (180) days after the date of the casualty. Landlord shall notify Tenant in writing ("Landlord's Repair Estimate") within thirty (30) days after the date of the casualty of Landlord's estimate of the period required to repair or restore the Premises or the Building, as applicable. If Landlord reasonably determines that the repair or restoration of the Premises or the Building cannot be completed within one hundred eighty (180) days after the date of the casualty and Tenant elects to exercise its right to terminate this Lease following a Casualty if any of the following occurs: (i) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.312.2.2, Tenant shall give exercise the right by giving Landlord written notice of its election to terminate this Lease within thirty fifteen (3015) days after receipt the date of Landlord’s Architect’s determination 's Repair Estimate, in which event this Lease shall terminate fifteen (or within 30 15) days after the date of Tenant's termination notice. If neither Landlord nor Tenant exercise its right to terminate this Lease, Landlord shall promptly commence the process of obtaining all of the applicable necessary permits and approvals for the repair or restoration period should Landlord fail of the Premises or the Building as soon as practicable and thereafter prosecute the repair or restoration of the Premises or the Building diligently to complete repairs during such period), completion and this Lease shall terminate as of the date of such notice of election to terminatecontinue in full force and effect.

Appears in 1 contract

Samples: Agreement of Purchase and Sale (Regan Holding Corp)

Tenant’s Right to Terminate. If the Premises are damaged by fire or other casualty and the Landlord does not (1) elect by written notice to Tenant (which notice shall include Landlord’s estimate of the time needed to complete such repair or restoration) given no later than ninety (90) days after Landlord’s receipt of Tenant’s Casualty Notice (“Landlord’s Restoration Notice”), to substantially repair or restore the same to their former condition (but only as to portions existing on the Term Commencement Date for which Landlord has restoration obligations in this Lease), or (2) substantially complete Landlord’s required repair and restoration prior to the later of the estimated date of substantial completion set forth in Landlord’s Restoration Notice, or nine (9) months following Landlord’s receipt of Tenant’s Casualty Notice (which date in each case shall be extended one day for each day of delay caused by any act or omission of Tenant and for events of Force Majeure as contemplated in Section 10.22 hereof), then Tenant shall have the right to terminate this Lease following a Casualty if any of the following occurs: (i) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or canupon not be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more less than sixty (60) days prior written notice given to repair, or the Landlord within ten (iii10) business days after the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to expiration of such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion period (time being of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such periodessence), provided such cancellation shall be void and this Lease shall terminate continue in full force and effect in the event that substantial completion of Landlord’s required repair and restoration is achieved within such sixty (60) day period (which date shall be extended one day for each day of delay caused by any act or omission of Tenant and for events of Force Majeure as of the date of such notice of election to terminatecontemplated in Section 10.22 hereof).

Appears in 1 contract

Samples: Lease Agreement (Quanterix Corp)

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