eTrade 2000 Annual Report Download - page 142

complete the repair or restoration of the Premises by the Outside Completion Date, Landlord shall notify Tenant in writing and Tenant
shall have ten (10) days from the date Tenant receives such written notice in which to terminate this Lease by written notice to
Landlord.
If neither party exercises its right to terminate this Lease, then (i) Landlord shall promptly commence the process of obtaining all of the
necessary permits and approvals for the repair or restoration of the portion of the Premises or the Building which Landlord is obligated
to repair or restore as soon as reasonably practicable, and
thereafter prosecute the repair or restoration of the Premises or the Building diligently to completion, and (ii) Tenant shall promptly
commence the process of obtaining all of the necessary permits and approvals for the repair or restoration of the Tenant Improvements
and any other alterations, additional or improvements made by Tenant to the Premises as soon as reasonably practicable, and thereafter
prosecute the repair or restoration of the Tenant Improvements and other improvements to completion. Tenant shall not interfere with
Landlord’ s repair and restoration work and may commence Tenant’ s repair or restoration work in the Premises only to the extent that
Tenant’ s work does not interfere with Landlord’ s repair or restoration work.”
At the end of this Section, insert “Notwithstanding the foregoing, if Landlord elects to terminate this Lease as a result of there being
insufficient insurance proceeds to pay for all of the costs of the repair or restoration, Tenant shall have the right to vitiate Landlord’ s
termination by (i) notifying Landlord in writing within thirty (30) days after Landlord notifies Tenant of its election to terminate this
Lease of Tenant’ s election to pay for the difference between the cost of restoring the Premises or the Building, as applicable, and the
amount of the insurance proceeds available to Landlord for the repair or restoration of the Premises or the Building, and (ii) delivering
to Landlord within thirty (30) days after Tenant notifies Landlord of its election to pay for any shortfall in insurance proceeds an
amount equal to the difference between the cost of repairing or restoring the Premises or the Building, as reasonably esti mated by
Landlord, and the amount of insurance proceeds available to Landlord for the repair or restoration of the Premises or the Building, as
applicable.
Section 12.3 :
At the end of this Section, insert “If Landlord receives any proceeds from either Landlord’ s or Tenant’ s insurance carrier attributable
to the cost of repairing or restoring the Tenant Improvements or any other alterations, additions or improvements made by Tenant in
the Premises that are not owned by Landlord, then Landlord shall reimburse Tenant out of those proceeds an amount equal to the
amount expended by Tenant in repairing or restoring the alterations, additions or improvements in the Premises. Notwithstanding the
foregoing, if either party terminates this Lease as a result of a casualty or for any other reason, all of the insurance proceeds with
respect to the Tenant Improvements and any other alterations, additions or improvements made by Tenant to the Premises shall belong
to Landlord.”
Section 12.5 :
On page 14, line 1, in place of the deleted word, insert “Landlord’ s and Tenant’ s”
On page 14, line 2, in place of the deleted word, insert “either party”.
On page 14, line 3, in place of the deleted word, insert “the other party”.
On page 14, line 4, in place of the deleted language, insert “The party electing to terminate this Lease shall notify the other party”.
On page 14, line 6, in place of the deleted language, insert “neither party elects”.
Section 13.2 :
On page 15, line 6, in place of the deleted language, insert “Tenant”.
Section 13.4 :
On page 15, line 2, after the word “right”, insert “such as”.
Section 13.5 :
On page 15, line 9, in place of the deleted word, insert “Tenant”.
2002. EDGAR Online, Inc.