Common use of Greater Than 180 Days Clause in Contracts

Greater Than 180 Days. If the Premises should be damaged by Casualty to such extent that rebuilding or repairs cannot in Landlord’s estimation be reasonably completed within one hundred eighty (180) days after the date of such notice and receipt of required permits for such rebuilding or repair, then Landlord shall have the option of either: (1) terminating this Lease effective upon the date of the occurrence of such damage, in which event the Rent shall be abated during the unexpired portion of this Lease; or (2) electing to rebuild or repair the Premises diligently and in the manner determined by Landlord. Landlord shall notify Tenant in writing (“Landlord’s Election Notice”) of its election within thirty (30) days after Landlord’s receipt of notice of the damage or destruction. Notwithstanding the foregoing, however, in the event that rebuilding or repairs cannot in Landlord’s estimation be reasonably completed within one hundred eighty (180) days after the date of Landlord’s receipt of required permits for such rebuilding or repair, then Tenant shall also have the option to terminate this Lease effective upon the date of the occurrence of such damage by notifying Landlord of its election to terminate within ten (10) business days following Tenant’s receipt of Landlord’s Election Notice. If Landlord has elected to make such repairs, and if (i) any such repair is not commenced by Landlord within ninety (90) days after the casualty, or (ii) such repair work is not substantially completed within nine (9) months after such casualty, then Tenant may, at its option, upon notice to Landlord, elect to terminate this Lease effective as of the date of the casualty. If Landlord does not elect to make such repairs, then within five (5) business days after Landlord notifies Tenant that it will not make such repairs, either Landlord or Tenant may terminate this Lease effective as of the date of the casualty. Notwithstanding the above, Landlord shall not be required to rebuild, repair or replace any part of any Alterations which may have been placed, on or about the Premises or paid for by Tenant. If the Premises are untenantable in whole or in part following such damage, the Rent payable under this Lease during the period in which they are untenantable shall be abated proportionately, but only to the extent the Premises are unfit for occupancy.

Greater Than 180 Days. If the Premises or Building or Project should be so damaged by Casualty to such extent that rebuilding or repairs cannot in Landlord’s estimation be reasonably completed within one hundred eighty (180) days after the date issuance of such notice and receipt of required permits Permits for such rebuilding the necessary repair or repair, then Landlord shall have the option of either: (1) terminating this Lease effective upon the date reconstruction of the occurrence of such damage, in which event the Rent shall be abated during the unexpired portion of this Lease; the Building or (2) electing to rebuild Premises or repair the Premises diligently and in the manner determined by Landlord. Landlord shall notify Tenant in writing (“Landlord’s Election Notice”) of its election within thirty (30) days after Landlord’s receipt of notice of the damage Project which was damaged or destruction. Notwithstanding the foregoing, however, in the event that rebuilding or repairs cannot in Landlord’s estimation be reasonably completed within one hundred eighty (180) days after the date of Landlord’s receipt of required permits for such rebuilding or repair, then Tenant shall also have the option to terminate this Lease effective upon the date of the occurrence of such damage by notifying Landlord of its election to terminate within ten (10) business days following Tenant’s receipt of Landlord’s Election Notice. If Landlord has elected to make such repairs, and if (i) any such repair is not commenced by Landlord within ninety (90) days after the casualty, or (ii) such repair work is not substantially completed within nine (9) months after such casualty, then Tenant may, at its option, upon notice to Landlord, elect to terminate this Lease effective as of the date of the casualty. If Landlord does not elect to make such repairs, then within five (5) business days after Landlord notifies Tenant that it will not make such repairsdestroyed, either Landlord or Tenant may terminate this Lease effective as by giving written notice within ten (10) days after notice from Landlord specifying such time period of repair; and this Lease shall terminate and the Rent shall be abated from the date of the casualty. Notwithstanding In the aboveevent that neither party elects to terminate this Lease, Landlord shall promptly commence and diligently prosecute to completion the repairs to the Building or Premises or Project, provided insurance proceeds are available to repair the damage (except that Landlord shall not be required to rebuild, repair or replace any part of any Alterations Tenant's Property which may have been placedplaced in, on or about the Premises by or paid for by the benefit of Tenant). If Tenant, in its reasonable discretion, determines that it must vacate all or a portion of the Premises are untenantable in whole or in part following such damageduring Landlord's repair thereof, the Rent payable under this Lease hereunder shall be abated proportionately on the basis of the size of the area of the Premises that is vacated (i.e., the number of square feet of floor area of the Premises that is vacated compared to the total square footage of the floor area of the Premises), from the date Tenant vacates all or a portion of the Premises that was vacated only during the period in which they are untenantable shall be abated proportionately, but only to the extent that the Premises are unfit for occupancyoccupancy as reasonably determined by Tenant. In the event that Landlord should fail to obtain the Permits within 60 days after the date of the casualty, or to substantially complete such repairs within the time period estimated in Landlord's notice delivered pursuant to Section 13.1, Tenant shall have the right, as Tenant's exclusive remedy, within ten (10) days after the expiration of such 60 day period, or the estimated completion period, as applicable, and provided that such Permits have not been issued, or such repairs have not been substantially completed (as applicable) within such ten (10) day period, to terminate this Lease by delivering written notice to Landlord as ▇▇▇▇▇▇'s exclusive remedy, whereupon this Lease will be terminated retroactive to the date of the casualty.