Common use of DESTRUCTION BY CASUALTY Clause in Contracts

DESTRUCTION BY CASUALTY. In the event of damage to the Premises by fire or casualty, the Landlord, at its option (a) may repair such damage within a reasonable time after written notice of such damage from the Tenant, or (b) may terminate this Lease by written notice to the Tenant. If the Premises or any part of it is damaged by fire or casualty to such extent that the enjoyment of the Premises is substantially impaired, each such impairment to be agreed by both parties in writing, the Tenant may immediately vacate the Premises and notify the Agent/Landlord in writing within 14 days after such vacation of the intention of the Tenant to terminate this Lease, in which case this Lease shall terminate as of the date of vacation. If however, the damage to the Premises by fire or casualty is caused by the act or omission of the Tenant, or the agents, servants, employees, visitors or licensees of the Tenant, the Tenant shall have no right to terminate this Lease, and the Tenant shall be liable for the rent during the unexpired term of this Lease, without abatement, unless the Landlord elects to terminate this Lease and relieve Tenant from further liability.

DESTRUCTION BY CASUALTY. In the event of damage to the Premises by fire or casualty, the Landlord, at its option (aI) may repair such damage within a reasonable time after written notice of such damage from the Tenant, or (bii) may terminate this Lease by written notice to the Tenant. If the Premises or any part of it is damaged by fire or casualty to such extent that the enjoyment of the Premises is substantially impaired, each such impairment to be agreed by both parties in writing, the Tenant may immediately vacate the Premises and notify the Agent/Landlord in writing within 14 3 days after such vacation of the intention of the Tenant to terminate this Lease, in which case this the Lease shall terminate as of the date of vacation. If If, however, the damage to the Premises by fire or casualty is caused by the act or omission of the Tenant, or the agents, servants, employees, visitors visitors, or licensees of the Tenant, the Tenant shall have no right to terminate this Lease, Lease and the Tenant shall be liable for the rent during the unexpired term of this Lease, without abatement, unless the Landlord elects to terminate this Lease and relieve Tenant from further liabilityLease.