Common use of OPTION TO DETERMINE Clause in Contracts

OPTION TO DETERMINE. If upon the expiry of a period of one (1) year commencing as from the date of the damage or destruction rebuilding or reinstatement shall not have been commenced either the Lessee or the Manager (as the case may be) may by notice served on the other at any time within twelve (12) months thereafter invoke the provisions of paragraph 8 but only: where the commencement of such rebuilding or reinstatement has been prevented by Supervening Events; where the Supervening Events still subsist; and where the Lessee or the Manager has used all reasonable efforts to remove the Supervening Events.