Common use of Termination Options Clause in Contracts

Termination Options. If 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 architect, engineer or contractor. If such estimate states that repair or restoration of substantially all of such damage that was caused to the core and shell of the Building cannot be completed within 270 days from the date of such damage (or within 90 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, provided it does so in strict accordance with this Lease. If such estimate states that repair or restoration cannot be substantially completed within 270 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 cannot be substantially completed within 90 days from the date of such damage, or if such damage is not insured against by insurance policies required to be maintained, and in fact maintained by Landlord, or if Landlord cannot restore because of Laws or because the insurance proceeds were not made available to Landlord, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 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 will 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 ▇▇▇▇▇ during such period in accordance with the provisions of Section 12.3 and Landlord will be entitled to all proceeds of the insurance policy described in Section 11 applicable to any damaged Alterations or deco rations in the Premises whether paid for by Landlord or Tenant.

Termination Options. If 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 architect, engineer or contractor. If such estimate states that repair or restoration of substantially all of such damage that was caused to the core and shell Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be completed within 270 180 days from the date of such damage (or within 90 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, provided it does so in strict accordance with this Lease. If such estimate states that repair or restoration of all such damage that was caused to the Building cannot be substantially completed within 270 180 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 the Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be substantially completed within 90 30 days from the date of such damage, or if such damage is not insured against by the insurance policies required to be maintained, and in fact maintained by Landlord, or if Landlord cannot restore because of Laws or because the insurance proceeds were not made available according to LandlordSection 11.1, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 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 will 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 the Premises by Tenant during such period in accordance with the provisions of Section 12.3 and Landlord will be entitled to all proceeds of the insurance policy described in Section 11 11.2(b) applicable to any damaged Alterations or deco rations leasehold improvements in the Premises whether paid for by Landlord or TenantPremises.

Termination Options. If 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 architect, engineer or contractor. If such estimate states that repair or restoration of substantially all of such damage that was caused to the core and shell Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be completed within 270 180 days from the date of such damage (or within 90 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. If such estimate states that repair or restoration of all of such damage that was caused to the Building cannot be completed within 180 days from the date of such damage, provided it does so in strict accordance with or if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease. If such estimate states that repair or restoration of all of such damage that was caused to the Building cannot be substantially completed within 270 30 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 the Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be substantially completed within 90 30 days from the date of such damage, or if such damage is not insured against by the insurance policies required to be maintained, and in fact maintained by Landlord, or if Landlord cannot restore because of Laws or because the insurance proceeds were not made available according to LandlordSection 9.1, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 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 will 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 the Premises by Tenant during such period in accordance with the provisions of Section 12.3 and Landlord will be entitled to all proceeds of the insurance policy described in Section 11 9.2(b) applicable to any damaged Alterations or deco rations leasehold improvements in the Premises whether paid for by Landlord or TenantPremises.

Termination Options. If the Premises or the Building are damaged by fire or other casualty casualty, Landlord will, promptly after learning within 30 days of the date 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 (i) such damage occurs during the 12-month period that ends on the last day of the initial Term, if Tenant has not exercised its Extension Option, or during the last twelve months of the Extension Term, if Tenant has exercised its Extension Option, and if such estimate states that repair or restoration of substantially all of such damage that was caused to the core and shell of the Building Premises cannot be completed within 270 180 days from the date of such damage repair or restoration is commenced, or (or within 90 days from ii) the date loss is of such damage if such damage occurred within the last 12 months of the Term)a nature which Landlord is not required by this Lease to insure against, then both Tenant and Landlord will have have, as their respective sole remedies in connection with such condition, the option to terminate this Lease, provided it does so in strict accordance with this Lease. If such estimate states that damage is of a nature which is not required to be insured against by Landlord in accordance with Section 7.1(a) through (f) and if the cost to repair or restoration cannot be substantially completed within 270 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 cannot be substantially completed within 90 days from the date of such damage, or if such damage is not insured against by insurance policies required determined to be maintained, and in fact maintained by Landlord, or if Landlord cannot restore because excess of Laws or because the insurance proceeds were not made available to Landlord, $500,000.00 then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 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 will 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 the Premises by Tenant during such period in accordance with the provisions of Section 12.3 and Landlord will be entitled to all proceeds of the insurance policy described in Section 11 applicable to any damaged Alterations or deco rations in the Premises whether paid for by Landlord or Tenantperiod.

Termination Options. If 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 contractor. If such estimate states that repair or restoration of substantially all of such damage that was caused to the core and shell Premises or to any other portion of the Building necessary for Tenant’s occupancy cannot be completed within 270 180 days from the date of such damage (or within 90 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, provided it does so in strict accordance with this Lease. If such estimate states that repair or restoration of all of such damage that was caused to the Building cannot be substantially completed within 270 180 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 the Premises or to any other portion of the Building necessary for Tenant’s occupancy cannot be substantially completed within 90 days from the date of such damage, or if such damage is not insured against by the insurance policies required to be maintained, and in fact maintained by Landlord, or if Landlord cannot restore because of Laws or because the insurance proceeds were not made available according to LandlordSection 9.1, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 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 will 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 the Premises by Tenant during such period in accordance with the provisions of Section 12.3 and Landlord will be entitled to all proceeds of the insurance policy described in Section 11 applicable to any damaged Alterations or deco rations in the Premises whether paid for by Landlord or Tenantperiod.