THE DATE THAT
LANDLORD SUBSTANTIALLY COMPLETES LANDLORD'S REPAIR OBLIGATIONS HEREUNDER (OR THE
DATE THAT LANDLORD WOULD HAVE SUBSTANTIALLY COMPLETED SUCH REPAIRS, BUT FOR
DELAYS BY TENANT OR ANY OTHER OCCUPANT OF THE PREMISES, OR ANY OF THEIR AGENTS,
EMPLOYEES, INVITEES, TRANSFEREES AND CONTRACTORS), PROVIDED SUCH ABATEMENT:
(I) SHALL APPLY ONLY TO THE EXTENT THE PREMISES ARE UNTENANTABLE FOR THE
PURPOSES PERMITTED UNDER THIS LEASE AND NOT USED BY TENANT AS A RESULT THEREOF,
BASED PROPORTIONATELY ON THE SQUARE FOOTAGE OF THE PREMISES SO AFFECTED AND NOT
USED, AND (II) SHALL NOT APPLY IF TENANT OR ANY OTHER OCCUPANT OF THE PREMISES,
OR ANY OF THEIR AGENTS, EMPLOYEES, INVITEES, TRANSFEREES OR CONTRACTORS CAUSED
THE DAMAGE.
C.
TERMINATION OF LEASE.
NOTWITHSTANDING THE FOREGOING TO THE
CONTRARY, IN LIEU OF PERFORMING THE RESTORATION WORK, LANDLORD MAY ELECT TO
TERMINATE THIS LEASE BY NOTIFYING TENANT IN WRITING OF SUCH TERMINATION WITHIN
NINETY (90) DAYS AFTER THE DATE OF DAMAGE (SUCH TERMINATION NOTICE TO INCLUDE A
TERMINATION DATE PROVIDING AT LEAST THIRTY (30) DAYS FOR TENANT TO VACATE THE
PREMISES), IF THE PROPERTY SHALL BE DAMAGED BY FIRE OR OTHER CASUALTY OR CAUSE
SUCH THAT: (A) REPAIRS TO THE PREMISES AND ACCESS THERETO CANNOT REASONABLY BE
COMPLETED WITHIN 120 DAYS AFTER THE CASUALTY WITHOUT THE PAYMENT OF OVERTIME OR
OTHER PREMIUMS, (B) MORE THAN TWENTY-FIVE PERCENT (25%) OF THE PREMISES IS
AFFECTED BY THE DAMAGE AND FEWER THAN TWELVE (12) MONTHS REMAIN IN THE TERM,
(C) ANY LENDER SHALL REQUIRE THAT THE INSURANCE PROCEEDS OR ANY PORTION THEREOF
BE USED TO RETIRE THE MORTGAGE DEBT (OR SHALL TERMINATE THE GROUND LEASE, AS
14
THE CASE MAY BE), OR THE DAMAGE IS NOT FULLY COVERED, EXCEPT FOR DEDUCTIBLE
AMOUNTS, BY LANDLORD'S INSURANCE POLICIES, OR (D) THE COST OF THE REPAIRS,
ALTERATIONS, RESTORATION OR IMPROVEMENT WORK WOULD EXCEED TWENTY-FIVE PERCENT
(25%) OF THE REPLACEMENT VALUE OF THE BUILDING (WHETHER OR NOT THE PREMISES ARE
AFFECTED BY THE DAMAGE).
TENANT AGREES THAT THE ABATEMENT OF RENT PROVIDED
HEREIN SHALL BE TENANT'S SOLE RECOURSE IN THE EVENT OF SUCH DAMAGE, AND WAIVES
ANY OTHER RIGHTS TENANT MAY HAVE UNDER ANY APPLICABLE LAW TO PERFORM REPAIRS OR
TERMINATE THE LEASE BY REASON OF DAMAGE TO THE PREMISES OR PROPERTY.
NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, IN THE EVENT
LANDLORD'S RESTORATION AND REPAIR OF THE PREMISES IS NOT COMPLETED WITHIN 180
DAYS AFTER THE DATE OF THE CASUALTY, FOR ANY REASON OTHER THAN FORCE MAJEURE
DELAYS AS MORE FULLY DESCRIBED UNDER SECTION 34.O BELOW (PROVIDED, HOWEVER, THAT
SUCH FORCE MAJEURE DELAY SHALL NOT EXCEED SIX (6) MONTHS IN THE AGGREGATE),
TENANT SHALL HAVE THE RIGHT TO TERMINATE THIS LEASE ON WRITTEN NOTICE GIVEN TO
LANDLORD PRIOR TO SUBSTANTIAL COMPLETION OF SUCH RESTORATION AND REPAIR BY
LANDLORD.
ARTICLE 12:
CONDEMNATION
If at least ten percent (10%) of the rentable area of the Premises shall be
taken by power of eminent domain or condemned by a competent authority or by
conveyance in lieu thereof for public or quasi-public use ("Condemnation"),
including