Either Party May Terminate. In the case of any Casualty or Taking affecting the Premises and occurring during the last twelve (12) months of the Term, then (i) if such Casualty or Taking results in more than twenty-five percent (25%) of the floor area of the Premises being unsuitable for the Permitted Uses, or (ii) the damage to the Premises costs more than $250,000 to restore, then either Landlord or Tenant shall have the option to terminate this Lease upon thirty (30) days’ written notice to the other.
Appears in 3 contracts
Samples: Sublease (Praxis Precision Medicines, Inc.), Sublease (Praxis Precision Medicines, Inc.), Indenture of Lease (Quanterix Corp)
Either Party May Terminate. (i) In the case of any Casualty or Taking affecting the Premises and occurring during the last twelve (12) months of the Term, then (iA) if such Casualty or Taking results in more than twenty-five percent (25%) of the floor area of the Premises being unsuitable for the Permitted Uses, or (iiB) the damage to the Premises costs is estimated to cost more than $250,000 to restore, then either Landlord or Tenant shall have the option to terminate this Lease upon thirty (30) days’ written notice to the other.
Appears in 1 contract
Samples: Commencement Date Agreement (Aveo Pharmaceuticals Inc)
