MONTHS AND THE EXPENDITURE OF MORE THAN THIRTY
(30%) PERCENT OF THE FULL INSURABLE VALUE OF THE BUILDING IMMEDIATELY PRIOR TO
THE CASUALTY (AS ESTIMATED IN ANY SUCH CASE BY A REPUTABLE CONTRACTOR,
REGISTERED ARCHITECT OR LICENSED PROFESSIONAL ENGINEER DESIGNATED BY LANDLORD),
AND PROVIDED LANDLORD SHALL TERMINATE LEASES COVERING NO LESS THAN FIFTY (50%)
PERCENT OF THE OFFICE SPACE IN THE BUILDING THEN LEASED TO TENANTS (INCLUDING
TENANT) IN THE
57
BUILDING, THEN IN SUCH CASE LANDLORD MAY TERMINATE THIS LEASE BY GIVING TENANT
NOTICE TO SUCH EFFECT WITHIN ONE HUNDRED FIFTY (150) DAYS AFTER THE DATE OF THE
CASUALTY.
FOR THE PURPOSE OF THIS SECTION ONLY, "FULL INSURABLE VALUE" SHALL
MEAN REPLACEMENT COST LESS THE COST OF FOOTINGS, FOUNDATIONS AND OTHER
STRUCTURES BELOW THE STREET AND FIRST FLOORS OF THE BUILDING.
(B)
IF THE PREMISES OR ANY PART THEREOF OR THE
MEANS OF ACCESS THERETO OR BUILDING SYSTEMS SERVICING SAME SHALL BE DAMAGED BY
FIRE OR OTHER CASUALTY, AND LANDLORD IS REQUIRED TO OR ELECTS TO REPAIR AND
RESTORE THE PREMISES, LANDLORD SHALL, WITHIN ONE-HUNDRED TWENTY (120) DAYS AFTER
SUCH DAMAGE OR DESTRUCTION, PROVIDE TENANT WITH A WRITTEN NOTICE OF THE
ESTIMATED DATE ON WHICH THE RESTORATION OF THE PREMISES SHALL BE SUBSTANTIALLY
COMPLETED.
IF SUCH ESTIMATED DATE IS MORE THAN FOURTEEN (14) MONTHS AFTER THE
DATE OF SUCH DAMAGE OR DESTRUCTION, TENANT MAY TERMINATE THIS LEASE BY NOTICE TO
LANDLORD, WHICH NOTICE SHALL BE GIVEN WITHIN THIRTY (30) DAYS AFTER THE DATE
LANDLORD PROVIDES THE NOTICE REQUIRED BY THE PRECEDING SENTENCE, AND SUCH
TERMINATION SHALL BE EFFECTIVE UPON THE GIVING OF TENANT'S NOTICE.
FAILURE BY
TENANT TO PROVIDE SUCH NOTICE WITHIN SUCH THIRTY (30) DAY PERIOD SHALL BE DEEMED
AN ELECTION BY TENANT NOT TO TERMINATE THIS LEASE.
IF TENANT ELECTS NOT TO
TERMINATE THIS LEASE OR IS DEEMED TO HAVE SO ELECTED, AND IF LANDLORD HAS NOT
SUBSTANTIALLY COMPLETED THE REQUIRED REPAIRS AND RESTORED THE PREMISES WITHIN
THE PERIOD ORIGINALLY ESTIMATED BY LANDLORD OR WITHIN SUCH PERIOD THEREAFTER
(NOT TO EXCEED THREE (3) MONTHS) AS SHALL EQUAL THE AGGREGATE PERIOD LANDLORD
MAY HAVE BEEN DELAYED IN COMMENCING OR COMPLETING SUCH REPAIRS BY FORCE MAJEURE
CAUSES (AS DEFINED IN SECTION 35.04(A) HEREOF), THEN TENANT SHALL HAVE THE
FURTHER RIGHT TO ELECT TO TERMINATE THIS LEASE UPON WRITTEN NOTICE TO LANDLORD
AND SUCH ELECTION SHALL BE EFFECTIVE UPON THE EXPIRATION OF THIRTY (30) DAYS
AFTER THE DATE OF SUCH NOTICE, UNLESS LANDLORD SUBSTANTIALLY COMPLETES SUCH
RESTORATION WITHIN SUCH THIRTY (30) DAY PERIOD.
19.04
EXCEPT AS EXPRESSLY PROVIDED IN
SECTION 19.03(B) HEREOF, TENANT SHALL NOT BE ENTITLED TO TERMINATE THIS LEASE
AND LANDLORD SHALL HAVE NO LIABILITY TO TENANT FOR INCONVENIENCE, LOSS OF
BUSINESS OR ANNOYANCE ARISING FROM ANY REPAIR OR RESTORATION OF ANY PORTION OF
THE PREMISES OR OF THE BUILDING PURSUANT TO THIS ARTICLE 19.
LANDLORD SHALL USE
REASONABLE EFFORTS TO MAKE SUCH REPAIR OR RESTORATION PROMPTLY AND IN SUCH
MANNER AS NOT UNREASONABLY TO INTERFERE WITH TENANT'S USE AND OCCUPANCY OF THE
PREMISES, BUT LANDLORD SHALL