Common use of DAMAGE TO LEASED PROPERTY Clause in Contracts

DAMAGE TO LEASED PROPERTY. In case of damage to the Leased Property or any subsequent improvements by fire or other casualty, Lessee shall give immediate written notice to Lessor, who shall elect to cause the damage to be repaired with reasonable speed (unless the Lease is terminated as provided below), subject to delays beyond the reasonable control of Lessor, and to the extent the Premises are rendered unfit for Lessee's purpose, the rent shall proportionately xxxxx beginning on the date of such damage. In the event that the damage shall be so extensive that in the written opinion of an independent architect selected by Lessor and reasonably acceptable to Lessee that it is not reasonable for Lessor to repair or rebuild within one (1) year from the date of such damages, this Lease shall be terminated as of the date of such damage by written notice from Lessor to Lessee, given within ninety (90) days after the date of such damage, and the rent shall be adjusted to the date of such damage and Lessee shall promptly vacate the Premises. In the event that the Lease is not terminated in accordance with the terms of this Agreement, and if Lessee reasonably ceases its use of the Premises as a direct result of damage caused by fire or other casualty, then rent shall be abated from the date of the damage until Lessee reasonably may resume use of the Leased Property.

DAMAGE TO LEASED PROPERTY. In case of damage to the Leased Property or any subsequent improvements by fire or other casualty, Lessee shall give immediate written notice to Lessor, who shall elect to cause the damage to be repaired with reasonable speed (unless the Lease is terminated as provided below), subject to delays beyond the reasonable control of Lessor, and to the extent the Premises are rendered unfit for Lessee's purpose, the rent shall proportionately xxxxx beginning on the date of such damage. In the event that the damage shall be so extensive that in the written opinion of an independent architect selected by Lessor and reasonably acceptable to Lessee that it is not reasonable for Lessor to repair or rebuild within one (1) year from the date of such damages, this Lease shall be terminated as of the date of such damage by written notice from Lessor to Lessee, given within ninety (90) days after the date of such damage, and the rent shall be adjusted to the date of such damage damaged and Lessee shall promptly vacate the Premises. In the event that the Lease is not terminated in accordance with the terms of this Agreement, and if Lessee reasonably ceases its use of the Premises as a direct result of damage caused by fire or other casualty, then rent shall be abated from the date of the damage until Lessee reasonably may resume use of the Leased Property.