Common use of DAMAGE OR DESTRUCTION OF LEASED PREMISES Clause in Contracts

DAMAGE OR DESTRUCTION OF LEASED PREMISES. In the event that the leased premises are destroyed or damaged so as to be unfit for use by fire, storm, explosion, earthquake or other casualty, so as not to be capable of being economically rebuilt or restored within three hundred sixty-five (365) days, then this Lease shall be automatically terminated. Otherwise, Landlord shall proceed at its own expense and with due diligence to restore the premises within such three hundred sixty-five (365) days. In the event Landlord determines that the premises cannot be rebuilt or restored within three hundred sixty-five (365) days as provided hereinabove, then it shall give written notice of this decision to Tenant within fifteen (15) days from the date of the happening of such casualty, and this Lease shall terminate.

DAMAGE OR DESTRUCTION OF LEASED PREMISES. In the event that the leased premises are destroyed or damaged so as to be unfit for use ordinary occupancy and use, by fire, storm, explosion, earthquake or other casualty, so as not to be capable of being economically rebuilt or restored within three hundred sixty-five ninety (36590) days, then this Lease lease shall be automatically terminated. Otherwise, Landlord shall proceed at its own expense and with due diligence to restore the premises within such three hundred sixty-five ninety (36590) days, in which case there shall be an abatement and apportionment of the rent until the premises are restored. In the event Landlord determines that the premises cannot be rebuilt or restored within three hundred sixty-five under the ninety (36590) days as provided hereinaboveday provision herein, then it shall give written notice of this decision to Tenant within fifteen thirty (1530) days from the date of the happening of such casualty, and this Lease lease shall terminate.

DAMAGE OR DESTRUCTION OF LEASED PREMISES. In the event that the leased premises are is destroyed or damaged damaged, so as to be unfit for ordinary occupancy and use by fire, storm, explosion, earthquake or other casualty, so as not to be capable of being economically rebuilt or restored within three hundred sixty-five (365) dayssix months, then this Lease shall be automatically terminated. Otherwise, Landlord shall proceed at its own expense and with due diligence to restore the premises within such three hundred sixty-five (365) dayssix month period, in which case there shall be an abatement and apportionment of the rent until the premises are restored. In the event Landlord determines that the premises cannot be rebuilt or restored within three hundred sixty-five (365) days as provided hereinaboveunder the six month provision herein, then it shall give written notice of this decision to Tenant within fifteen thirty (1530) days from the date of the happening of such casualty, and this Lease shall terminate.