Common use of Destruction of Building Clause in Contracts

Destruction of Building. In the event that the Building is destroyed to an extent of not less than one-third of the replacement costs thereof, either party may elect to terminate this Lease, whether the Premises be injured or not. A total destruction of the Building shall terminate this Lease.

Appears in 4 contracts

Samples: Commercial Office Lease (Ask Jeeves Inc), Commercial Office Lease (Ask Jeeves Inc), Commercial Office Lease (Ask Jeeves Inc)

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Destruction of Building. In the event that the Building is destroyed to an extent of not less than one-third of the replacement costs thereof, either party Landlord may elect to terminate this Lease, whether the Premises be injured or not. A total destruction of the Building shall terminate this Lease.

Appears in 2 contracts

Samples: Office Lease (Aduro Biotech, Inc.), Office Lease (Aduro Biotech, Inc.)

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