Common use of Termination Options Clause in Contracts

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 (and shall use diligent efforts to provide same within 90 days of the casualty if commercially, reasonably possible). 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 30 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. If any portion of the Premises, the respective Buildings or a portion of the Project reasonably necessary for the continued use of each Building and/or 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 ’s architect, engineer or contractor (and shall use diligent efforts to provide same within 90 days of the casualty if commercially, reasonably possible)contractor. If such estimate states that repair or restoration of all of such damage that was caused to a portion of the Premises or to any other portion of the Building Buildings or Project necessary for Tenant's ’s occupancy cannot be completed within 180 365 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 LeaseLease with respect to the applicable portion of the Premises affected by such damage. If such estimate states that repair or restoration of all of such damage that was caused to the Building Buildings or applicable portion of the Project cannot be completed within 180 365 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 a portion of the Premises or to any other portion of the Building Buildings or the Project necessary for Tenant's ’s occupancy cannot be completed within 30 60 days from the date of such damage (provided that if Tenant has exercised, or proceeds to validly exercise an option to extend the Term within 15 business days of the occurrence of such damage, the “Term” for the purposes of the foregoing clause shall refer to the Term so extended), or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 11.19.1 (and Tenant does not agree to pay the shortfall in the cost of restoration), then Landlord or Tenant will have the option to terminate this LeaseLease with respect to the applicable portion of the Premises affected by such damage. Any option to terminate granted above must be exercised by written notice to the other party given within 30 10 business days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this LeaseLease with respect to a portion of the Premises, the Term such termination will expire and this Lease will terminate 10 occur 30 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 any portion 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 Premisesperiod.

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 (and shall use diligent efforts to provide same within 90 days of the casualty if commercially, reasonably possible)contractor. If such estimate states that repair or restoration of substantially all of such damage that was caused to the Premises or to any other portion core and shell of the Building necessary for Tenant's occupancy cannot be completed within 180 270 days from the date of such damage (or within 30 90 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, provided it does so in strict accordance with this Lease. If such estimate states that repair or restoration of all such damage that was caused to the Building cannot be substantially completed within 180 270 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 substantially completed within 30 90 days from the date of such damage, or if such damage is not insured against by the insurance policies required to be maintained, and in fact maintained by Landlord, or if Landlord according cannot restore because of Laws or because the insurance proceeds were not made available to Section 11.1Landlord, 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 30 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 in accordance with the provisions of Section 12.3 and Landlord will be entitled to all proceeds of the insurance policy described in Section 11.2(b) 11 applicable to any damaged leasehold improvements Alterations or deco rations in the PremisesPremises whether paid for by Landlord or Tenant.

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 architectLand▇▇▇▇'▇ ▇rchitect, engineer or contractor (and shall use diligent efforts contractor. Landlord will endeavor to provide same such notice to Tenant within 90 sixty (60) days of the casualty if commercially, reasonably possible)after such damage. 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 or the Complex necessary for Tenant's occupancy cannot be completed within 180 days (not including any Force Majeure delays) 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 30 fifteen 15 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 thirty (30) days after notice of termination is delivereddelivered and Tenant will vacate and deliver possession of the Premises to Landlord in accordance with Section 3.4 within said thirty (30) day period; 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.