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harmeetjaipur said:
So if I don't get a reply for my LMIA within the time (~112 days) that I will have, will I have any options then?

Great news that your employer is applying for the work permit for you.

But - what is the significance of your ~112 day time frame?
 
Thanks. My Work Visa is expiring 2nd September (next week). So my company's lawyer is going to send in my work visa extension file next week any time so that my work visa gets extended and/or the LMIA gets processed while my work visa extension is under process or gets approved.