Termination Options. If the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landlord's architect, engineer or contractor. If such estimate states that repair or restoration of all of such damage that was caused to the Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be completed within 180 days from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease. If such estimate states that repair or restoration of all such damage that was caused to the Building cannot be completed within 180 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to the Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be completed within 30 days from the date of such damage, or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 11.1, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease, the Term will expire and this Lease will terminate 10 days after notice of termination is delivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of the Premises by Tenant during such period and Landlord will be entitled to all proceeds of the insurance policy described in Section 11.2(b) applicable to any damaged leasehold improvements in the Premises.
Termination Options. (i) Anything in Subsection A of this Article to the contrary notwithstanding, if the Building shall be so damaged by fire or other casualty that: (a) Landlord is terminating leases affecting at least forty (40%) percent of the rentable square foot area of the office portion of the Building; or (b) in Landlord’s opinion either: (x) substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) or (y) the Building, after its repair, alteration or restoration shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord’s option, may, not later than ninety (90) days following the settlement of the insurance claim (the “Determination Date”), but in no event, more than one hundred eighty (180) days after the date of the damage, give Tenant a notice in writing terminating this Lease. If Landlord elects to terminate this Lease, the Term shall expire upon the tenth (10th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. Upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant’s liability for Rent shall cease as of the day following such damage.
Termination Options. Provided Tenant is not in default both as of the date Tenant exercises the applicable Termination Option described herein and as of the termination of this Lease with respect to the applicable Building and Tenant Improvements therein, Tenant shall have the right to terminate this Lease with respect to a single Building designated by Tenant (the "Termination Options") as of the last day of the first, second and third quarters of the last twelve months of the initial Lease Term (the "Termination Dates") by giving written notice to Landlord of the applicable Building and termination no later than ninety (90) days prior to the applicable Termination Date and by vacating and surrendering possession of the applicable Building and Tenant Improvements therein in accordance with the provisions of Paragraph 34 below; provided, however, if Tenant exercises its Termination Option as to either Building B or Building D under the Adjacent Lease prior to the exercise of any Termination Option as to Building A or Building C hereunder, then Tenant shall not have the right to exercise the Termination Option as to Building A or Building C until Tenant has exercised the Termination Option under the Adjacent Lease as to both Building B and Building D. Tenant further agrees that under no circumstances shall it be permitted to exercise the Termination Option under this Lease and under the Adjacent Lease concurrently. If Tenant timely exercises a Termination Option with respect to Building A or Building C and the Tenant Improvements located therein,
Termination Options. (a) The City may terminate this Agreement upon twenty-five (25) days prior written notice to Operator for any reason deemed by the City to be in its interest.
Termination Options. 13.1.1 If the Premises or any other portion of the Building necessary for Tenant’s occupancy of the Premises shall be damaged by fire or other casualty, Landlord shall, promptly after learning of such damage, notify Tenant in writing of the time necessary to demolish all damaged portions of the Premises and repair or restore the Premises and such portions of the Building as are necessary for Tenant’s occupancy of the Premises as nearly as practicable to the condition existing prior to such fire or other casualty, excluding the repair and restoration of any and all leasehold improvements, Alterations, trade fixtures, furnishings, equipment and personal property of Tenant in the Premises (such demolition, repair and restoration work being hereinafter referred to as “Landlord’s Restoration Work”), as estimated by a reputable architect, engineer or contractor selected by Landlord (the “Estimate”).
Termination Options. Provided Tenant fully and completely satisfies each of the conditions set forth in this Section 2.3, Tenant shall have (i) the one-time option (“First Termination Option” to terminate Tenant’s lease of the fifteenth (15th) floor of the Building (or the lowest full floor leased by Tenant) effective as of the forty-eighth (48th) monthly anniversary of the Lease Commencement Date only (the “First Termination Option Termination Date”), (ii) the one-time option (“Second Termination Option”) to terminate Tenant’s lease of either or both of the two (2) lowest contiguous full floors leased by Tenant in the Building effective as of the sixty-sixth (66th) monthly anniversary of the Lease Commencement Date (the “Second Termination Option Termination Date”), and (iii) the one-time option (“Third Termination Option”) to terminate this Lease (as to the entire Premises) effective as of the ninety-second (92nd) monthly anniversary of the Lease Commencement Date only (the “Third Termination Option Termination Date”). The First Termination Option Termination Date, the Second Termination Option Termination Date and the Third Termination Option Termination Date are collectively referred to herein as the “Termination Dates.” The applicable space leased by Tenant that is the subject of the applicable termination right may be referred to herein as the “Terminated Space.” The Termination Dates are subject to extension as provided in Section 1.4. above.
Termination Options. (a) Sublessee shall have a one time right (the "First Termination Option") to terminate this Sublease, effective as of January 1, 2001, by delivering a written notice of such termination to Sublessor (the "First Termination Notice") on or prior to July 1, 2000, accompanied by Sublessee's payment to Sublessor in an amount equal to fifty percent (50%) of the Base Rent payable for the period from January 1, 2001 through the end of the Term (the "First Termination Fee"). In the event Sublessee serves the First Termination Notice, as provided above, and delivers to Sublessor the First Termination Fee, this Sublease shall terminate on December 31, 2000, and Sublessee shall, on or before such date, vacate the Subleased Premises and surrender possession thereof to Sublessor, in the manner and condition provided in the Master Lease.
Termination Options. (a) If the Heliport cease to function as an active heliport (i) for at least two (2) months as a result of government or legal ruling, or (ii) for at least six (6) consecutive months as a result of unsafe decking, as determined pursuant to Section 4.02(c), then Operator shall have the right to terminate this Agreement effective upon two (2) month’s written notice to Agreement Administrator, which may be given as soon as one week after said cessation begins, provided, however, that the parties agree to use commercially reasonable efforts to resolve any issues with respect to such cessation of operations prior to terminating this Agreement pursuant to this Section 7.04(a).
Termination Options. Notwithstanding anything in the Lease to the contrary, effective as of the date hereof, the Termination Dates in Section 2.3.1 of the Lease pertaining to the First Termination Option shall be deleted in its entirety, and the Second Termination Option and Third Termination Option shall be deemed extended by twelve (12) months each.
Termination Options. The term of the Option hereunder shall be until December 31, 2009. Notwithstanding any other provision of this Agreement, upon any of the Options described above being fully vested, such fully vested Options may not be terminated unless Options terminate at December 31, 2009 without being exercised. If Kawamura is terminated without Due Cause or for death or disability, the vested Options shall survive under the terms of this Agreement and the balance of the Options shall vest in accordance with Section 4.3(a) of this Agreement.
