Common use of DESTRUCTION OF OR DAMAGE TO PREMISES Clause in Contracts

DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are totally destroyed by storm, fire, lightning, earthquake or other casualty, this Lease shall terminate as of the date of such destruction, and rental shall be accounted for as between Lessor and Lessee as of that date. If the Premises are damaged, but not wholly destroyed by any of such casualties, rental shall xxxxx in such proportion as use of the Premises has been destroyed, and Lessor shall restore the Premises to substantially the same condition as before damage as speedily as practicable, whereupon full rental shall recommence; provided, however, that if the damage shall be so extensive that the same cannot be reasonably repaired and restored within three (3) months from date of the casualty, then either Lessor or Lessee may terminate this Lease by giving written notice to the other party within thirty (30) days from the date of such casualty. In the event of such termination, rental shall be apportioned and paid up to the date of such casualty.

Appears in 1 contract

Samples: Lease Agreement (Radnor Holdings Corp)

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DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are totally destroyed by storm, fire, lightning, earthquake or other casualty, this Lease shall terminate as of the date of such destruction, and rental shall be accounted for as between Lessor and Lessee as of that date. If the Premises are damaged, but not wholly destroyed by any of such casualties, rental shall xxxxx in such proportion as use of the Premises has been destroyed, and Lessor shall restore the Premises to substantially the same condition as before damage as speedily as practicable, whereupon full rental shall recommence; provided, provided however, that if the damage shall be so extensive that the same cannot be reasonably repaired and restored within three six (36) months from date of the casualty, then either Lessor or Lessee may terminate this Lease by giving written notice to the other party within thirty (30) days from the date of such casualty. In the event of such termination, rental shall be apportioned and paid up to the date of such casualty.

Appears in 1 contract

Samples: Lease Agreement (Aquilex Corp)

DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are totally destroyed by ------------------------------------ storm, fire, lightning, earthquake or other casualty, this Lease shall terminate as of the date of such destruction, and rental shall be accounted for as between Lessor and Lessee as of that date. If the Premises are damaged, but not wholly destroyed by any of such casualties, rental shall xxxxx in such proportion as use of the Premises has been destroyed, and Lessor shall restore the Premises to substantially the same condition conditions as before damage as speedily as practicable, whereupon full rental shall recommence; providedprovided further, however, that if the damage shall be so extensive that the same cannot be reasonably repaired and restored within three six (36) months from date of the casualty, then either Lessor or Lessee may terminate cancel this Lease by giving written notice to the other party within thirty (30) days from the date of such casualty. In the event of such terminationcancellation, rental shall be apportioned and paid up to the date of such casualty.

Appears in 1 contract

Samples: Lease Agreement (Custom Chrome Inc /De)

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DESTRUCTION OF OR DAMAGE TO PREMISES. If the Premises are totally destroyed by storm, fire, lightning, earthquake or other casualty, this Lease shall terminate as of the date of such destruction, and rental shall be accounted for as between Lessor and Lessee as of that date. If the Premises are damaged, but not wholly destroyed by any of such casualties, rental shall xxxxx in such proportion as use of the Premises has been destroyed, and Lessor shall restore the Premises to substantially the same condition as before damage as speedily as practicable, whereupon full rental shall recommence; provided, however, that if the damage shall be so extensive that the same cannot be reasonably repaired and restored within three six (36) months from date of the casualty, then either Lessor or Lessee may terminate this Lease by giving written notice to the other party within thirty (30) days from the date of such casualty. In the event of such termination, rental shall be apportioned and paid up to the date of such casualty.

Appears in 1 contract

Samples: Lease Agreement (Simpson Manufacturing Co Inc /Ca/)

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