Common use of Termination Options Clause in Contracts

Termination Options. If any portion of the Premises, the respective Buildings or a portion of the Project reasonably necessary for the continued use of each Building and/or the Premises are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landlord’s architect, engineer or contractor. If such estimate states that repair or restoration of all of such damage that was caused to a portion of the Premises or to any other portion of the Buildings or Project necessary for Tenant’s occupancy cannot be completed within 365 days from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damage. If such estimate states that repair or restoration of all of such damage that was caused to the Buildings or applicable portion of the Project cannot be completed within 365 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to a portion of the Premises or to any other portion of the Buildings or the Project necessary for Tenant’s occupancy cannot be completed within 60 days from the date of such damage (provided that if Tenant has exercised, or proceeds to validly exercise an option to extend the Term within 15 business days of the occurrence of such damage, the “Term” for the purposes of the foregoing clause shall refer to the Term so extended), or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 9.1 (and Tenant does not agree to pay the shortfall in the cost of restoration), then Landlord or Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damage. Any option to terminate granted above must be exercised by written notice to the other party given within 10 business days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease with respect to a portion of the Premises, such termination will occur 30 days after notice of termination is delivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of any portion of the Premises by Tenant during such period.

Termination Options. If any portion of the Premises, the respective Buildings or a portion of the Project reasonably necessary for the continued use of each Building and/or the Premises are damaged by fire or other casualty damages the Building, Landlord will, promptly after learning of such damage, notify . Notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landlord’s 's architect, engineer or contractorcontractor (the "Repair Notice"). If the damage renders the Premises or a material part of the Premises untenantable and such estimate Repair Notice states that repair or restoration of all of such damage that was caused to a portion of the Premises or to any other portion of the Buildings or Project necessary for Tenant’s occupancy cannot be completed within 365 180 days from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damageLease. If such estimate Repair Notice states that repair or restoration of all of such damage that was caused to the Buildings or applicable portion of the Project Building cannot be completed within 365 180 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate Repair Notice states that repair or restoration of all such damage that was caused to a portion of the Premises or to any other portion of the Buildings or the Project necessary for Tenant’s occupancy cannot be completed within 60 30 days from the date of such damage (provided that if Tenant has exerciseddamage, or proceeds to validly exercise an option to extend the Term within 15 business days if such damage renders more than 50% of the occurrence of such damage, the “Term” for the purposes rentable area of the foregoing clause shall refer to the Term so extended)Build in untenantable, or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 9.1 (and Tenant does not agree to pay the shortfall in the cost of restoration)9.1, then Landlord or Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damageLease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 business days after Landlord delivers to Tenant the notice of estimated repair timeRepair Notice. If either party exercises its option to terminate this Lease, the Term will expire and this Lease with respect to a portion of the Premises, such termination will occur 30 terminate 10 days after notice of termination is delivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of any portion of the Premises by Tenant during such period. If Tenant elects to terminate the Lease, Landlord will be entitled to up to a maximum of $802,912.00 of the proceeds of Tenant's insurance for Leasehold Improvements and Equipment (excluding Tenant's furnishings, equipment, personal property, and trade fixtures in the Building).

Termination Options. If any portion of the Premises, the respective Buildings or a portion of the Project reasonably necessary for the continued use of each Building and/or the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landlord’s 's architect, engineer or contractorcontractor (and shall use diligent efforts to provide same within 90 days of the casualty if commercially, reasonably possible). If such estimate states that repair or restoration of all of such damage that was caused to a portion of the Premises or to any other portion of the Buildings or Project Building necessary for Tenant’s 's occupancy cannot be completed within 365 180 days from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damageLease. If such estimate states that repair or restoration of all of such damage that was caused to the Buildings or applicable portion of the Project Building cannot be completed within 365 180 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to a portion of the Premises or to any other portion of the Buildings or the Project Building necessary for Tenant’s 's occupancy cannot be completed within 60 30 days from the date of such damage (provided that if Tenant has exercised, or proceeds to validly exercise an option to extend the Term within 15 business days of the occurrence of such damage, the “Term” for the purposes of the foregoing clause shall refer to the Term so extended), or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 9.1 (and Tenant does not agree to pay the shortfall in the cost of restoration)11.1, then Landlord or Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damageLease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 business 30 days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease, the Term will expire and this Lease with respect to a portion of the Premises, such termination will occur 30 terminate 10 days after notice of termination is delivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of any portion of the Premises by Tenant during such periodperiod and Landlord will be entitled to all proceeds of the insurance policy described in Section 11.2(b) applicable to any damaged leasehold improvements in the Premises.

Termination Options. If any portion of the Premises, the respective Buildings Building or a portion of the Project reasonably necessary for the continued use of each the Building and/or the Premises are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landlord’s architect, engineer or contractor. If such estimate states that repair or restoration of all of such damage that was caused to a portion of the Premises or to any other portion of the Buildings Building or Project necessary for Tenant’s occupancy cannot be completed within 365 120 days from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damageLease. If such estimate states that repair or restoration of all of such damage that was caused to the Buildings Building or applicable portion of the Project cannot be completed within 365 120 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to a portion of the Premises or to any other portion of the Buildings Building or the Project necessary for Tenant’s occupancy cannot be completed within 60 30 days from the date of such damage (provided that if Tenant has exercised, or proceeds to validly exercise an option to extend the Term within 15 business days of the occurrence of such damage, the “Term” for the purposes of the foregoing clause shall refer to the Term so extended), or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 9.1 (and Tenant does not agree to pay the shortfall in the cost of restoration)9.1, then Landlord or Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damageLease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 business days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease, the Term will expire and this Lease with respect to a portion of the Premises, such termination will occur 30 terminate 10 days after notice of termination is delivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of any portion of the Premises by Tenant during such period.

Termination Options. If any portion of the Premises, the respective Buildings or a portion of the Project reasonably necessary for the continued use of each Building and/or the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by an independent, competent architect, engineer or contractor selected by Landlord’s , which estimate shall be provided to Tenant within 30 days after the date of the casualty. Landlord's architect, engineer or contractor. If such estimate states that repair or restoration of all of such damage that was caused to a portion of the Premises or to any other portion of the Buildings or Project Building necessary for Tenant’s 's occupancy cannot be completed within 365 180 days from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease Lease, unless such damage was caused by an act or omission of Tenant (in which event Tenant shall make the repairs using insurance proceeds, if any, paid pursuant to coverage to be maintained by Landlord, provided that any deductible and increases in premium costs associated with respect to the applicable portion of the Premises affected such damage shall be paid by such damageTenant). If such estimate states that repair or restoration of all of such damage that was caused to the Buildings or applicable portion of the Project Building cannot be completed within 365 180 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to a portion of the Premises or to any other portion of the Buildings or the Project Building necessary for Tenant’s 's occupancy cannot be completed within 60 30 days from the date of such damage (provided that if Tenant has exercised, or proceeds to validly exercise an option to extend the Term within 15 business days of the occurrence of such damage, the “Term” for the purposes of the foregoing clause shall refer to the Term so extended), or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 9.1 (and Tenant does not agree to pay the shortfall in the cost of restoration)9.1, then Landlord or Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damageLease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 business days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease, the Term will expire and this Lease with respect to a portion of the Premises, such termination will occur 30 terminate 10 days after notice of termination is delivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of any portion of the Premises by Tenant during such periodperiod and Landlord will be entitled to all proceeds of the insurance policy described in Section 9.2(b) applicable to any damaged leasehold improvements in the Premises. Landlord shall exercise its termination rights hereunder in good faith and may not terminate this Lease unless it elects not to commence rebuilding or reconstructing within one (1) year from the date of such damage and destruction.

Termination Options. If any portion of the Premises, the respective Buildings or a portion of the Project reasonably necessary for the continued use of each Building and/or the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landlord’s architectLand▇▇▇▇'▇ ▇rchitect, engineer or contractor. Landlord will endeavor to provide such notice to Tenant within sixty (60) days after such damage. If such estimate states that repair or restoration of all of such damage that was caused to a portion of the Premises or to any other portion of the Buildings Building or Project the Complex necessary for Tenant’s 's occupancy cannot be completed within 365 180 days (not including any Force Majeure delays) from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damageLease. If such estimate states that repair or restoration of all of such damage that was caused to the Buildings or applicable portion of the Project Building cannot be completed within 365 180 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to a portion of the Premises or to any other portion of the Buildings or the Project Building necessary for Tenant’s 's occupancy cannot be completed within 60 30 days from the date of such damage (provided that if Tenant has exercised, or proceeds to validly exercise an option to extend the Term within 15 business days of the occurrence of such damage, the “Term” for the purposes of the foregoing clause shall refer to the Term so extended), or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 9.1 (and Tenant does not agree to pay the shortfall in the cost of restoration)11.1, then Landlord or Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damageLease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 business fifteen 15 days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease, the Term will expire and this Lease with respect to a portion of the Premises, such termination will occur 30 terminate thirty (30) days after notice of termination is delivereddelivered and Tenant will vacate and deliver possession of the Premises to Landlord in accordance with Section 3.4 within said thirty (30) day period; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of any portion of the Premises by Tenant during such periodperiod and Landlord will be entitled to all proceeds of the insurance policy described in Section 11.2(b) applicable to any damaged leasehold improvements in the Premises.

Termination Options. If any portion of the Premises, the respective Buildings or a portion of the Project reasonably necessary for the continued use of each Building and/or the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landlord’s 's architect, engineer or contractorcontractor (the "Repair Notice"). If the damage renders the Premises or a material part of the Premises untenantable and such estimate Repair Notice states that repair or restoration of all of such damage that was caused to a portion of the Premises or to any other portion of the Buildings or Project necessary for Tenant’s occupancy cannot be completed within 365 180 days from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damageLease. If such estimate Repair Notice states that repair or restoration of all of such damage that was caused to the Buildings or applicable portion of the Project Building cannot be completed within 365 180 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate Repair Notice states that repair or restoration of all such damage that was caused to a portion of the Premises or to any other portion of the Buildings or the Project necessary for Tenant’s occupancy cannot be completed within 60 30 days from the date of such damage (provided that if Tenant has exerciseddamage, or proceeds to validly exercise an option to extend the Term within 15 business days if such damage renders more than 50% of the occurrence of such damage, the “Term” for the purposes rentable area of the foregoing clause shall refer to the Term so extended)Building untenantable, or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 9.1 (and Tenant does not agree to pay the shortfall in the cost of restoration)9.1, then Landlord or Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damageLease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 business days after Landlord delivers to Tenant the notice of estimated repair timeRepair Notice. If either party exercises its option to terminate this Lease, the Term will expire and this Lease with respect to a portion of the Premises, such termination will occur 30 terminate 10 days after notice of termination is delivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of any portion of the Premises by Tenant during such period. If Tenant elects to terminate the Lease, Landlord will be entitled to the proceeds of Tenant's insurance for Leasehold Improvements and Equipment.