Common use of Landlord’s Option to Terminate Clause in Contracts

Landlord’s Option to Terminate. Notwithstanding anything to the contrary contained in this Lease, if part of the Premises is taken by any public authority under the power of eminent domain, Landlord shall have the right to terminate this Lease upon the occurrence of any of the following and upon written notice given to Tenant not later than ninety (90) days after commencement of condemnation proceedings against the Premises (or, if such proceedings are not commenced, not later than fourteen (14) days before Landlord delivers possession of the part so taken by such public authority): (a) If the taking of part of the Premises significantly and adversely affects Tenant's use of the Premises; or (b) If restoration of the remainder of the Premises cannot in Landlord's opinion be completed within 180 days after the date possession is required by the public authority; or (c) If Landlord's Condemnation Award is insufficient to the necessary restoration; or (d) If the taking (i.e., the date possession is required by the public authority) occurs within the last 180 days of the then current Term of the Lease, provided however that the Lease may not be terminated under this Subsection if Tenant's option, if any, to further extend the term of this Lease is exercised after fifteen (15) days after Tenant receives from Landlord the termination notice described above. Termination of the Lease pursuant to this Section shall be effective as of the later of the date possession is required by the public authority or sixty (60) days after Tenant receives the termination notice described above.

Landlord’s Option to Terminate. Notwithstanding anything Anything contained in Section 12.1 hereof to the contrary contained in this Leasenotwithstanding, if part the Building shall be so damaged by fire or other casualty that, in Landlord's reasonable opinion based upon a good faith statement (the "Contractor's Statement") prepared by a reputable independent architect or contractor retained by Landlord), substantial alteration, demolition, or reconstruction of the Building shall be required (whether or not the Premises is taken by any public authority under the power of eminent domain, Landlord shall have been damaged or rendered untenantable), which will take more than nine (9) months from the right to terminate this Lease upon the occurrence of any date of the following and upon written notice given Contractor's Statement to Tenant not later than ninety (90) days after commencement of condemnation proceedings against the Premises (orSubstantially Complete, if such proceedings are not commencedthen Landlord, at Landlord's option, may, not later than fourteen (14) days before Landlord delivers possession of the part so taken by such public authority): (a) If the taking of part of the Premises significantly and adversely affects Tenant's use of the Premises; or (b) If restoration of the remainder of the Premises cannot in Landlord's opinion be completed within 180 days after the date possession is required by the public authority; or (c) If Landlord's Condemnation Award is insufficient to the necessary restoration; or (d) If the taking (i.e., the date possession is required by the public authority) occurs within the last 180 days of the then current Term of the Lease, provided however that the Lease may not be terminated under this Subsection if Tenant's option, if any, to further extend the term of this Lease is exercised after fifteen (15) days after Tenant receives from Landlord the termination notice described above. Termination of the Lease pursuant to this Section shall be effective as of the later of the date possession is required by the public authority or sixty (60) days following the date of damage, give Tenant a notice in writing terminating this Lease. If Landlord elects to terminate this Lease, the Term shall expire upon a date set by Landlord, but not sooner than the tenth (10th) day nor later than the sixtieth (60th) day after such notice is given, and Tenant receives shall vacate the Premises and surrender the same to Landlord in accordance with the provisions of Section 24.21 hereof Upon the termination notice described aboveof this Lease under the conditions provided for in this Section 12.2, the Rental shall be abated from the date that the Premises are no longer usable or accessible or the date of termination (whichever date occurs sooner) and, provided no default by Tenant exists hereunder, any prepaid portion of Rental for any period after such date shall be refunded by Landlord to Tenant.

Landlord’s Option to Terminate. Notwithstanding anything to the contrary contained in terms of Section 11.1 of this Lease, if part of Landlord may elect not to rebuild and/or restore the Premises is taken by any public authority under the power of eminent domain, Landlord shall have the right to and/or Building and instead terminate this Lease upon the occurrence by notifying Tenant in writing of any of the following and upon written notice given to Tenant not later than ninety (90) days after commencement of condemnation proceedings against the Premises (or, if such proceedings are not commenced, not later than fourteen (14) days before Landlord delivers possession of the part so taken by such public authority): (a) If the taking of part of the Premises significantly and adversely affects Tenant's use of the Premises; or (b) If restoration of the remainder of the Premises cannot in Landlord's opinion be completed termination within 180 days after the date possession is required by the public authority; or (c) If Landlord's Condemnation Award is insufficient to the necessary restoration; or (d) If the taking (i.e., the date possession is required by the public authority) occurs within the last 180 days of the then current Term of the Lease, provided however that the Lease may not be terminated under this Subsection if Tenant's option, if any, to further extend the term of this Lease is exercised after fifteen (15) days after Tenant receives from Landlord the termination notice described above. Termination of the Lease pursuant to this Section shall be effective as of the later of the date possession is required by the public authority or sixty (60) days after the date of discovery of such damage, such notice to include a termination date giving Tenant receives ninety (90) days to vacate the Premises, but Landlord may so elect only if the Building shall be damaged by fire or other casualty or cause, whether or not the Premises are affected, and one or more of the following conditions is present: (i) repairs cannot reasonably be completed within one hundred eighty (180) days after the casualty (when such repairs are made without the payment of overtime or other premiums); (ii) the holder of any mortgage on the Building or ground or underlying lessor with respect to the Real Property and/or the Building shall require that the insurance proceeds or any portion thereof be used to retire the mortgage debt, or shall terminate the ground or underlying lease, as the case may be; or (iii) the damage is not fully covered, except for deductible amounts, by Landlord's insurance policies, provided however, that Landlord shall have no right to terminate this Lease by reason of insufficient insurance proceeds if the damage is relatively minor (for the purpose of this Section 11.2, damage shall be deemed to be "relatively minor" if the repair or restoration would cost less than five percent (5%) of the replacement cost of the Building). In addition, in the event that the Premises or the Building is destroyed or damaged to any substantial extent during the last twelve (12) months of the Lease Term, then notwithstanding anything contained in this Article 11, Landlord shall have the option to terminate this Lease by giving written notice to Tenant of the exercise of such option within thirty (30) days after the date of such damage or destruction, in which event this Lease shall cease and terminate as of the date of such notice. Upon any such termination notice described aboveof this Lease pursuant to this Section 11.2, Tenant shall pay the Base Rent and Additional Rent, properly apportioned up to such date of termination, and both parties hereto shall thereafter be freed and discharged of all further obligations hereunder, except as provided for in provisions of this Lease which by their terms survive the expiration or earlier termination of the Lease Term.

Landlord’s Option to Terminate. (a) Notwithstanding anything to the contrary contained in the preceding Section 14.1 or elsewhere in this Lease, if part of the Premises is taken by any public authority under the power of eminent domainLandlord, Landlord shall have the right to at its option, may terminate this Lease upon the occurrence of any of the following and upon written notice given to Tenant not later than ninety on thirty (9030) days after commencement of condemnation proceedings against the Premises (ornotice to Tenant, if such proceedings are not commenced, not later than fourteen (14) days before Landlord delivers possession of the part so taken by such public authority): (a) If the taking of part of the Premises significantly and adversely affects Tenant's use of the Premises; or (b) If restoration of the remainder of the Premises cannot in Landlord's opinion be completed given within 180 days after the date possession is required by the public authority; or (c) If Landlord's Condemnation Award is insufficient to the necessary restoration; or (d) If the taking (i.e., the date possession is required by the public authority) occurs within the last 180 days of the then current Term of the Lease, provided however that the Lease may not be terminated under this Subsection if Tenant's option, if any, to further extend the term of this Lease is exercised after fifteen (15) days after Tenant receives from Landlord the termination notice described above. Termination of the Lease pursuant to this Section shall be effective as of the later of the date possession is required by the public authority or sixty (60) days after the occurrence of any damage or destruction if at least fifty percent (50%) of the Premises is damaged or destroyed as a result of a risk which is not covered by Landlord's insurance. Further, if the Premises, the Building or tenant improvements in the Premises which were originally constructed by Landlord for Tenant, or any substantial parts of any of the foregoing are rendered unfit for use and occupancy by reason of damage occurring at any time during the Term, Landlord, at its discretion, may terminate this Lease or may restore such Premises in accordance with Paragraph 14.1 hereof; but Landlord shall, not be obligated to repair and restore the Premises unless Tenant receives shall, within forty-five (45) days of the termination notice described aboveoccurrence of such damage, elect in writing to make the Premises leased herein a part of the "Premises" as leased by Tenant under the terms of the Master Lease. In the event that Tenant elects to make the Premises leased herein part of the "Premises" leased under the terms of the Master Lease, the provisions of Section 14 of the Master Lease shall then be controlling.

Landlord’s Option to Terminate. Notwithstanding anything to the contrary contained in this Lease, if part of the Leased Premises is taken by any public authority under the power of eminent domain, Landlord shall have the right to terminate this Lease upon the occurrence of any of the following and upon written notice given to Tenant not later than ninety (90) 60 days after commencement of condemnation proceedings against the Premises Land and/or Building (or, if such proceedings are not commenced, not later than fourteen (14) 14 days before Landlord delivers possession of the part so taken by such public authority): (a) a. If the taking of part of the Premises significantly and adversely affects Tenant's use of the Premises; or (b) b. If restoration of the remainder of the Premises cannot in Landlord's opinion be completed within 180 days after the date possession is required by the public authority; or (c) c. If Landlord's Condemnation Award (defined in Section 14.4) is insufficient to complete the necessary restoration; or (d) d. If the taking (i.e., the date possession is required by the public authority) occurs within the last 180 60 days of the then current Term original term of the Leasethis Lease or any extension of such term, provided however provided, however, that the Lease may not be terminated under this Subsection if Tenant's option, if any, to further extend the term of this Lease is exercised after fifteen (15) within 10 days after Tenant receives from Landlord the termination notice described above. Termination of the Lease pursuant to this Section shall be effective as of the later of the date possession is required by the public authority or sixty (60) 60 days after Tenant receives the termination notice described above. Annual Rent and Additional Rent shall be paid to the date of termination and prorated accordingly.