Common use of Termination Options Clause in Contracts

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. 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 A or Building D C under the Adjacent Lease prior to the exercise of any Termination Option as to Building A B or Building C hereunderD hereunder , then Tenant shall not have the right to exercise the Termination Option as to Building A B or Building C D until Tenant has exercised the Termination Option under the Adjacent Lease as to both Building B A and Building D. C. 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 B or Building C D and the Tenant Improvements located therein,, 5 then such termination as to such applicable Building and Tenant Improvements located therein shall be effective as of the date Tenant vacates and surrenders possession of the applicable Building and Tenant Improvements in accordance with the provisions of Paragraph 34 below, but in no event earlier than the applicable Termination Date. In the event this Lease is terminated by Tenant as to any Building, Tenant shall be excused from obligations under this Lease with respect to such Building which would have otherwise accrued following the effective date of such termination. Upon the effective date of each early termination of this Lease with respect to a Building, Tenant's Proportionate Share (defined in Subparagraph 8(e)(ii) below) shall be appropriately reduced in accordance with Subparagraph 8(e)(ii). Anything in this Lease to the contrary notwithstanding, the parties hereto agree that if Tenant exercises any Termination Option under this Subparagraph 4(c), Tenant shall have no right to extend the Lease Term pursuant to the terms of Subparagraph 4(d) below as to either Building B or Building D, or both Buildings, and any exercise of an Extension Option by Tenant hereunder after any exercise of a Termination Option hereunder shall be deemed void and of no force or effect. In addition, anything in this Lease to the contrary notwithstanding, if Tenant exercises any Extension Option described below, then Tenant shall have no right to terminate this Lease early as to Building B or Building D or the Tenant Improvements therein as provided in this Subparagraph 4(c) and any exercise of a Termination Option hereunder by Tenant after any exercise of an Extension Option hereunder shall be deemed void and of not force or effect.

Termination Options. Provided Tenant is not (a) Anything in default both as subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, or if the Building shall be so damaged by fire or other casualty that, in Landlord’s opinion, either substantial alteration, demolition or reconstruction of the date Tenant exercises Building shall be required (whether or not 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 Premises shall have been damaged or rendered untenantable), or if the right to terminate this Lease with respect to a single Building designated by Tenant (the "Termination Options") Building, after its proposed repair, alteration or restoration, shall not be economically viable as an office building, then in any of the last day of the firstsuch events, 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 Landlord, at Landlord’s option, may, not later than ninety (90) days prior following the damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any damage shall occur to the applicable Termination Date and by vacating and surrendering possession Premises or the Building during the last two (2) years of the applicable Term, Landlord shall have the option to terminate this Lease upon not less than sixty (60) days prior written notice to Tenant and (ii) Landlord shall not be obligated to repair or restore the Premises or the Building if a holder of a mortgage or underlying leasehold applies proceeds of insurance to the loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord elects to terminate this Lease, the Term shall expire upon the date set forth in such notice, and Tenant Improvements therein in accordance with shall vacate the provisions of Paragraph 34 below; provided, Premises and surrender the same to Landlord without prejudice however, if to Landlord’s rights and remedies against 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 in effect prior to such termination and any Rent owing shall be paid up to such date and any payments of Rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Upon the termination of this Lease under the Adjacent Lease concurrently. If Tenant timely exercises a Termination Option with respect to Building A or Building C and conditions provided for in the Tenant Improvements located therein,next preceding sentence, Tenant’s liability for Rent thereafter accruing shall cease as of the day following such damage.

Termination Options. Provided Tenant is not (i) Anything in default both as subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, or if the Building shall be so damaged by fire or other casualty that, in Landlord's reasonable opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable, or if the Building, after its proposed repair, alteration or restoration, shall not be economically viable for its current use, then in any of such events. Landlord, at Landlord's option, may, not later than sixty (60) days following the damage, give Tenant a notice in writing terminating this Lease. In addition, (i) if any material damage shall occur to the Premises or the Building during the last eighteen (18) months of the Term, Landlord and Tenant shall each have the option to terminate this Lease by thirty (30) days prior written notice to Tenant or Landlord, as applicable and (ii) Landlord shall not be obligated to repair or restore the Premises or the Building if a holder of a mortgage or underlying leasehold applies proceeds of insurance to the loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord or Tenant elects to terminate this Lease, the Term shall expire upon the date set forth in the notice of termination rendered to the other party, and Tenant exercises shall vacate the applicable Termination Option described herein Premises and as surrender the same to Landlord without prejudice however, to Landlord's rights and remedies against Tenant under this Lease in effect prior to such termination and any Rent owing shall be paid up to such date and any payments of Rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Upon the termination of this Lease with respect to under the applicable Building conditions provided for in the next preceding sentence, Tenant's liability for Rent and Tenant Improvements therein, Tenant additional rent thereafter accruing shall have the right to terminate this Lease with respect to a single Building designated by Tenant (the "Termination Options") cease 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,following such damage.

Termination Options. Provided Tenant is not (i) Anything in default both as Section 7.2 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, or if the Building shall be so damaged by fire or other casualty that, in Landlord's independent contractor's or architect's opinion, substantial alteration, demolition or reconstruction of a material portion of the Building shall be required such that the Building cannot be reasonably restored within twelve (12) months, or if in Landlord's opinion the Building, after its proposed repair, alteration or restoration, shall not be economically viable as a commercial building or if Landlord is advised by any mortgagee that any insurance proceeds will not be made available to Landlord to cover the cost of Landlord's obligations under this Article 7, then in any of such events, Landlord, at Landlord's option, may, not later than sixty (60) days following the damage, give Tenant a notice in writing terminating this Lease. In addition, if more than twenty percent (20%) of the Building shall be damaged by fire or other casualty during the last two (2) years of the Term, Landlord and Tenant each shall have the option to terminate this Lease by thirty (30) days prior written notice to the other party. If Landlord or Tenant elects to terminate this Lease as hereinabove provided, the Term shall expire upon the date set forth in such notice, and Tenant exercises shall vacate the applicable Termination Option described herein Premises and as surrender the same to Landlord without prejudice however, to Landlord's or Tenant's rights and remedies against the other under this Lease in effect prior to such termination and any Rent owing shall be paid up to such date and any payments of Rent made by Tenant which were on account of any period subsequent to such date shall be returned to Tenant. Upon the termination of this Lease with respect to under the applicable Building and conditions provided for in the next preceding sentence, Tenant's liability for Rent thereafter accruing shall cease as of the day following such damage. If neither Landlord nor Tenant Improvements therein, Tenant shall have the right elects to terminate this Lease with respect pursuant to a single Building designated by Tenant (the "Termination Options") as of the last day of the firstthis paragraph, 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 shall diligently perform their respective restoration obligations as provided 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,Section 7.2 above.