Excessive Damage or Destruction Sample Clauses

Excessive Damage or Destruction. If the Building is damaged or destroyed to the extent that Landlord determines that it cannot, with reasonable diligence, be fully repaired or restored by Landlord within one hundred eighty (180) days after the date of the damage or destruction, Landlord may terminate this Lease. Notwithstanding the fact that the Premises have been damaged or destroyed, Landlord shall in good faith determine whether the Building can be fully repaired or restored within the one hundred eighty (180) day period, and Landlord’s determination shall be binding upon Tenant. Landlord shall notify Tenant of its determination, in writing, within forty-five (45) days after the date of the damage or destruction whether it elects to fully repair or restore the Building. If Landlord determines that the Building can be fully repaired or restored within the one hundred eighty (180) day period, or if Landlord determines that such repair or restoration cannot be made within said period, but Landlord does not elect to terminate within forty-five (45) days from the date of Landlord’s determination, this Lease shall remain in full force and effect and Landlord shall diligently repair and restore the damage as soon as reasonably possible.

Excessive Damage or Destruction. If the Building is or the Premises are damaged or destroyed to the extent that Landlord determines that such damage or destruction cannot, with reasonable diligence, be fully repaired or restored by Landlord by the earlier of (i) one hundred eighty (180) days after the date of the damage or destruction or (ii) the expiration of the Term hereof (either, as applicable, the "Repair Date"), Landlord may terminate this Lease as of the date such damage or destruction occurred, whereupon Landlord and Tenant (except as otherwise expressly provided in this Lease) be released from any further obligations under this Lease. Notwithstanding the fact that the Premises have been damaged or destroyed, Landlord shall determine whether the Building can be fully repaired or restored by the Repair Date, and Landlord's determination shall be binding upon Tenant. Landlord shall notify Tenant of its determination, in writing, within forty-five (45) days after the date of the damage or destruction. If Landlord determines that the Building can be fully repaired or restored by the Repair Date, or if it is determined that such repair or restoration cannot be made by the Repair Date but Landlord does not elect to terminate, then this Lease shall remain in full force and effect and Landlord shall diligently repair and restore the damage as soon as reasonably possible. If Landlord is delayed from repairing and/or restoring the damage to the Premises within two hundred seventy (270) days after the occurrence of such damage or destruction (subject to extension for Force Majeure, as described in Section 18.23 below), Landlord or Tenant may at any time thereafter (but prior to the substantial completion of said repair and/or restoration by Landlord) terminate this Lease by ten (10) days prior written notice to the other, whereupon Landlord and Tenant shall (except as otherwise expressly provided in this Lease) be released from any further obligations under this Lease.

Excessive Damage or Destruction. Landlord or Tenant may terminate this Lease if the Premises, Building(s) or Project is damaged or destroyed to the extent that the Premises, Building(s) or Project cannot, with reasonable diligence, be fully repaired or restored by Landlord within twelve (12) months after the date of the damage or destruction and Tenant reasonably determines that it cannot engage in the normal conduct of its business. Within forty-five (45) days after any damage or destruction, Landlord shall notify Tenant whether the Premises, Building(s) or Project, as the case may be, can be fully repaired or restored within the twelve (12) month period and if such notice states a period greater than twelve (12) months, Tenant must, within 10 days either terminate or waive, subject to Section 15.d. hereof, its right to terminate. If the Premises, Building(s) or Project, as the case may be, can be fully repaired or restored within the twelve (12) month period, Landlord promptly shall commence the process of obtaining necessary permits and approvals, shall commence repair of the Premises, Building(s) or Project, as the case may be, as soon as practical, and shall, subject to Section 15.a. hereof, prosecute the repair to completion.

Excessive Damage or Destruction. If the Leased Premises is damaged or destroyed to the extent that the cost of repair is fifty percent (50%) or more of the fair market value of the Leased Premises and the damage and destruction is caused by an event for which Landlord was required to maintain insurance under this Lease, Tenant shall have the right to terminate this Lease by delivering written notice of such election to the Landlord within sixty (60) days of the date of the occurrence which caused such damage and destruction. If the Leased Premises is damaged or destroyed to the extent that the cost of repair is fifty percent (50%) or more of the fair market value of the Leased Premises and the damage and destruction is caused by an event for which Landlord was not required to maintain insurance under this Lease, Landlord or Tenant shall have the right to terminate this Lease by delivering written notice of such election to the other within sixty (60) days thereafter. If Tenant does not terminate this Lease, Landlord shall restore the Leased Premises to the same condition as the Leased Premises were in prior to such damage or destruction. Unless Tenant or Landlord elects to terminate this Lease, this Lease shall continue in full force and effect, except for the abatement of Rent, as provided in Section 18.2 hereof, and Landlord shall continue to diligently repair and restore the all or any portion of Leased Premises.

Excessive Damage or Destruction. If the Building or the Premises is damaged or destroyed to the extent that it cannot with reasonable diligence, be fully repaired or restored by Landlord (as certified by Landlord’s architect) within three hundred sixty (360) days after the date of the damage or destruction, either Landlord or Tenant may terminate this Lease by written notice to the other within thirty (30) days of the date of the damage or destruction. If neither party terminates this Lease, this Lease shall remain in full force and effect and Landlord shall diligently repair and restore the damage as soon as reasonably possible; provided, however, if neither party elects to terminate this Lease, then if such repair and restoration takes more than four hundred fifty (450) days from the date of casualty, for any reason other than Tenant’s fault or delay, Tenant again shall have the right to terminate this Lease.

Excessive Damage or Destruction. If the Building (whether or not the Premises are affected) is damaged or destroyed to the extent that Landlord determines that it cannot, with reasonable diligence, be fully repaired or restored by Landlord within one hundred eighty (180) days after the date of the damage or destruction or if any Senior Holder requires that any or all of such insurance proceeds be used in accordance with the requirements of its Senior Instrument, then in any such case, Landlord may elect to terminate this Lease effective on the earliest date of such damage or destruction, and Landlord shall reimburse Tenant for any rents paid by Tenant which are applicable to the period beginning on the effective date of such termination. Landlord shall notify Tenant of its determination and election, in writing (herein the "Election Notice"), within forty-five (45) days after the date of the damage or destruction. If Landlord does not elect to terminate this Lease, then this Lease shall remain in full force and effect and the Premises and the Building shall be repaired and rebuilt in accordance with the provisions for repair and restoration set forth in Subsection 17.1 above. If Landlord determines not to terminate this Lease and determines that repair and restoration will not be completed within such 180 day period to an extent which would allow Tenant to utilize the Premises for the permitted use set forth herein, then Tenant shall have the right to terminate this Lease by written notice given to Landlord within ten (10) days of the date upon which 106 the Election Notice is given; such termination shall be effective on the date specified in such notice, which shall be no later than ten (10) days following the date of such notice.

Excessive Damage or Destruction. If the Building or the Premises is damaged or destroyed to the extent that it cannot, with reasonable diligence, be fully repaired or restored by Landlord within the earlier of (i) one hundred twenty (120) days after the date of the damage or destruction, or (ii) the expiration of the Term hereof, either Landlord or Tenant may terminate this Lease by written notice to the other within thirty (30) days of the date of the damage or destruction. If neither party terminates the Lease pursuant to the above Section, this Lease shall remain in full force and effect and Landlord shall diligently repair and restore the damage as soon as reasonably possible. If Landlord is delayed or prevented from repairing and/or restoring the damage to the Building within two hundred forty (240) days after the occurrence of such damage or destruction, Landlord or Tenant may at any time thereafter (but prior to the substantial completion of said repair and/or restoration by Landlord) terminate this Lease by ten (10) days prior written notice to the other, whereupon Landlord and Tenant shall (except as otherwise expressly provided in this Lease) be released from any further obligations under this Lease.

Excessive Damage or Destruction. 27 Section 12.04

Excessive Damage or Destruction. If the Building or the Premises is damaged or destroyed to the extent that it cannot within Landlord’s reasonable discretion, with reasonable diligence, be fully repaired or restored by Landlord within the earlier of (i) two hundred seventy (270) days after the date of the damage or destruction, or (ii) the expiration of the Term hereof, Landlord may terminate this Lease by written notice to Tenant within thirty (30) days of the date of the damage or destruction. If Landlord does not terminate the Lease, this Lease shall remain in full force and effect and Landlord shall diligently repair and restore the damage as soon as reasonably possible. Notwithstanding the foregoing, in the event Landlord determines that the Building or Premises cannot be restored within two hundred seventy (270) days after the date of damage or destruction, Tenant shall have the right to terminate this Lease upon written notice to Landlord which notice must be given, if at all, within thirty (30) days after Tenant receives Landlord’s determination of the estimated time to restore the Building or Premises, as applicable.