Common use of Damage to or Destruction of the Premises Clause in Contracts

Damage to or Destruction of the Premises. 13.1 In the event of the premises being destroyed and therefore rendered totally unfit for occupation, this lease shall be terminated automatically. 13.2 In the event of the premises being damaged and remaining partially suitable for the purpose of the Lessee, the parties shall have the right to terminate the agreement forthwith. Should the parties continue with the agreement, the Lessee shall be entitled to a reduction in rental to the extent to which the Lessee is deprived of the full use of the premises.

Appears in 5 contracts

Samples: Lease Agreement, Lease Agreement, Lease Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!