Common use of Destruction Near End of Term Clause in Contracts

Destruction Near End of Term. Notwithstanding the foregoing, if the Building is wholly or partially damaged or destroyed within the final six (6) months of the Term, Landlord or Tenant may, at its option, elect to terminate this Lease; provided, however, that Landlord may not terminate this Lease pursuant to this subparagraph if Tenant at the time of such damage has a then valid express written option to extend the Term and Tenant exercises such option to extend the Term within fifteen (15) days following the date of such damage.

Appears in 2 contracts

Samples: Lease Agreement (Palm Inc), Lease Agreement (Palmsource Inc)

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Destruction Near End of Term. Notwithstanding the foregoing, if the Building is Premises or the Project are wholly or partially damaged or destroyed within the final six twelve (612) months of the Term, Landlord or Tenant may, at its option, elect to terminate this Lease; provided, however, that Landlord may not terminate this Lease pursuant upon written notice given to this subparagraph if Tenant at the time of such damage has a then valid express written option to extend the Term and Tenant exercises such option to extend the Term within fifteen thirty (1530) days following the date of such damagedamage or destruction. 11.6.

Appears in 2 contracts

Samples: Industrial Lease Agreement, Standard Industrial Lease Agreement (Intest Corp)

Destruction Near End of Term. Notwithstanding the foregoingforgoing, if the Premises, the Building is or the Project are wholly or partially damaged or destroyed within the final six twelve (612) months of the Term, Landlord or Tenant may, at its option, elect to terminate this Lease; provided, however, that Landlord may not terminate this Lease pursuant upon written notice given to this subparagraph if Tenant at the time of such damage has a then valid express written option to extend the Term and Tenant exercises such option to extend the Term within fifteen thirty (1530) days following the date of such damagedamage or destruction.

Appears in 1 contract

Samples: Lease (MRV Communications Inc)

Destruction Near End of Term. Notwithstanding the foregoing, if the Building is Premises or the Project are wholly or partially damaged or destroyed within the final six (6) months of the Term, Landlord or Tenant may, at its option, elect to terminate this Lease; provided, however, that Landlord may not terminate this Lease pursuant upon written notice given to this subparagraph if Tenant at the time of such damage has a then valid express written option to extend the Term and Tenant exercises such option to extend the Term within fifteen thirty (1530) days following the date of such damagedamage or destruction.

Appears in 1 contract

Samples: Industrial Lease Agreement (Jill Kelly Productions Holding, Inc.)

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Destruction Near End of Term. Notwithstanding the foregoing, if the Building is or the Project are wholly or partially damaged or destroyed within the final six twelve (612) months of the Term, Landlord or Tenant may, at its option, elect to terminate this Lease; provided, however, that Landlord may not terminate this Lease pursuant upon written notice given to this subparagraph if Tenant at the time of such damage has a then valid express written option to extend the Term and Tenant exercises such option to extend the Term within fifteen thirty (1530) days following the date of such damage.damage or destruction. 4.9.5

Appears in 1 contract

Samples: Letter and Construction Agreement (Oakley Inc)

Destruction Near End of Term. Notwithstanding the foregoing, if the Building is Premises or the Project are wholly or partially damaged or destroyed within the final six twelve (612) months of the Lease Term, Landlord or and Tenant maymay each, at its option, elect to terminate this Lease; provided, however, that Landlord may not terminate this Lease pursuant upon written notice given to this subparagraph if Tenant at the time of such damage has a then valid express written option to extend the Term and Tenant exercises such option to extend the Term other within fifteen thirty (1530) days following the date of such damage.damage or destruction. 4.9.5

Appears in 1 contract

Samples: Letter and Construction Agreement (Childrens Place Retail Stores Inc)

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