NYC 9/11 Public Portal Document
Term, then Tenant may cancel this Lease, as of a date thereafter designated by Tenant, which date
shall be within thirty (30) days of the giving of written notice thereof to Landlord, which written
notice shall be given to Landlord within sixty (60) days after such damage or destruction.
(C) If the Building shall be (a) totally destroyed or so damaged so that Landlord
shall decide to demolish or not to rebuild it, or (b) so damaged or destroyed that substantial
alteration or reconstruction of the Building shall be required, whether or not the Demised
Premises have been damaged, then Landlord, shall in the case of clause (a), or may, in the case of
clause (b), within ninety (90) days after such fire or other casualty, give Tenant a notice in
writing of the termination of this Lease, and thereupon the Term of this Lease shall expire by
lapse of time upon the thirtieth (30th) day after such notice is given, provided, however, that
Landlord shall not make the election described in (b) above unless, either (i) sixty percent (60%)
or more of the usable area of the Building is damaged or destroyed by fire or other casualty, or
(ii) the Building is so damaged or destroyed by fire or other casualty that its repair or restoration
requires the expenditure (as estimated by an independent reputable contractor or registered
architect designated by Landlord) of more than sixty percent (60%) of the full insurable value of
the Building immediately prior to the fire or other casualty, or (iii) at least seventy-five percent
(75%) of the leases in the Building or leases of seventy-five percent (75%) of usable area in the
portions of the Building (excluding retail space) occupied or available for occupancy by tenants or
other occupants (exclusive of any usable area in such portions occupied by Landlord or its
affiliates at such time) are cancelled effective on dates no later than the termination date of this
Lease (inclusive of this Lease).
(D) Unless Landlord or Tenant elects to cancel this Lease as provided under
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