INITIAL TERMINATION RIGHTS. If (a) it is agreed or determined pursuant to Section 20.1 that the Estimated Repair Completion Date occurs more than one (1) year after the date of the Damage, and (b) the Damage is to all or any portion of the Premises, then either Landlord or Tenant may terminate this Lease; provided, however, if the Estimated Repair Period is three (3) years or less, Tenant shall have the right, exercised by notice to Landlord given within forty-five (45) days after the Trigger Date to extend such one (1) year period for an additional period which, together with the unexpired portion of such one (1) year period, if any, equals or exceeds the Estimated Repair Period, thereby negating any termination by Landlord. Notwithstanding the foregoing, if Landlord determines that it can commence and complete the Landlord Repair Work within the times required by this Lease such that Tenant would not have a right to terminate this Lease pursuant to any provision within this Section 20.3.1, then Landlord shall give notice thereof to Tenant and immediately commence and prosecute the Landlord Repair Work to completion with all due diligence and in accordance with all provisions hereof. No such determination by Landlord shall be binding on Tenant and no such commencement or prosecution of the Landlord Repair Work shall affect Tenant’s rights under this Article 20. If (a) the Estimated Repair Period is greater than one (1) year, and (b) such Damage has a material adverse impact on the operation or Tenant’s use of the Common Areas, Parking Garage, or other Building amenities, Tenant may terminate this Lease. Any such termination shall be exercised by the terminating party by giving notice to the other party within thirty (30) days after the Trigger Date, and shall, subject to Section 20.7, be effective not less than thirty (30) nor more than sixty (60) days after such notice of termination is given. Notwithstanding the foregoing, Landlord shall not terminate this Lease pursuant to this Section 20.3.1 unless it also terminates all other leases in the Building which it has the right to terminate.
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Sources: Lease Agreement (Wells Real Estate Investment Trust Inc)
INITIAL TERMINATION RIGHTS. If (a) it is agreed or determined pursuant to Section 20.1 that the Estimated Repair Completion Date occurs more than one (1) year after the date of the Damage, and (b) the Damage is to all or any portion of the Premises, then either Landlord or Tenant may terminate this Lease; provided, however, if the Estimated Repair Period is three (3) years or less, Tenant shall have the right, exercised by notice to Landlord given within forty-five (45) days after the Trigger Date to extend such one (1) year period for an additional period which, together with the unexpired portion of such one (1) year period, if any, equals or exceeds the Estimated Repair Period, thereby negating any termination by Landlord. Notwithstanding the foregoing, if Landlord determines that it can commence and complete the Landlord Repair Work within the times required by this Lease such that Tenant would not have a right to terminate this Lease pursuant to any provision within this Section 20.3.1, then Landlord shall give notice thereof to Tenant and immediately commence and prosecute the Landlord Repair Work to completion with all due diligence and in accordance with all provisions hereof. No such determination by Landlord shall be binding on Tenant and no such commencement or prosecution of the Landlord Repair Work shall affect Tenant’s 's rights under this Article 20. If (a) the Estimated Repair Period is greater than one (1) year, and (b) such Damage has a material adverse impact on the operation or Tenant’s 's use of the Common Areas, Parking Garage, or other Building amenities, Tenant may terminate this Lease. Any such termination shall be exercised by the terminating party by giving notice to the other party within thirty (30) days after the Trigger Date, and shall, subject to Section 20.7, be effective not less than thirty (30) nor more than sixty (60) days after such notice of termination is given. Notwithstanding the foregoing, Landlord shall not terminate this Lease pursuant to this Section 20.3.1 unless it also terminates all other leases in the Building which it has the right to terminate.
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