Common use of Excessive Damage or Destruction Clause in Contracts

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 In case of any damage to or destruction of the Building (whether Demised Premises by fire or other insured casualty which shall render the Demised Premises substantially untenantable and unfit for occupancy and which damage cannot 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 twenty (180l20) days after from the date happening of such casualty, then this Lease shall terminate at the option of either party by written notice to the other; provided, however, that such written notice is mailed within fifteen (l5) days of such fire or casualty. Landlord shall determine whether the Demised Premises can be repaired within the one hundred twenty (l20) day period, and Landlord's determination shall be conclusive on Tenant. The period of time during which Landlord is prevented from performing any act required to be performed hereunder by reason of unavoidable delays as defined in Section 24.2l shall be added to the time for performance of such act. In the event of such termination, Tenant shall immediately surrender possession of the damage or destruction or if any Senior Holder requires that any or all of such insurance proceeds be used in accordance with Demised Premises and shall pay Rent only to 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 may re-enter and repossess 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 destructionDemised Premises discharged from this Lease. 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 neither party elects to terminate this Lease and determines that within such fifteen l5) day period, Landlord shall thereupon repair and restoration will not restore the Demised Premises with reasonable speed and dispatch. The Fixed Rent and Additional Rent due and payable hereunder shall ▇▇▇▇▇ proportionately, but only to the extent of any proceeds received by Landlord from rental abatement insurance described in Section l2.l C, which rental abatement insurance Landlord represents is adequate and shall, from time to time, be completed within such 180 day period increased so as to an extent which would allow Tenant to utilize the Premises remain adequate. Such abatement shall continue for the permitted use set forth hereinperiod commencing with such damage or destruction and ending with substantial completion by Landlord of its repair or reconstruction work or until business is totally or partially resumed, then Tenant shall have whichever is 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 noticeearlier.