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

DESTRUCTION OF OR DAMAGE TO PROPERTY. (a) Tenant shall notify Landlord in writing immediately upon the occurrence of any damage (a "Casualty") to the Premises. In no event shall rent -------- xxxxx, nor shall this Lease terminate, because of a Casualty, except as provided below. If a material portion of the Premises is damaged or destroyed and (1) cannot be rebuilt and repaired due to applicable Law or (2) if a Casualty occurs during the last 12 months of the Term and such damage cannot be repaired within 30 days after such Casualty and Tenant has not elected to extend the Term as provided in Exhibit D, then Landlord or (if a Tenant Party did not cause such Casualty) --------- Tenant may terminate this Lease by delivering to the other written notice thereof within 30 days after such Casualty, in which case, the rent shall be abated during the unexpired portion of the Term effective upon the date the Casualty occurred. Time is of the essence with respect to the delivery of such notices.

DESTRUCTION OF OR DAMAGE TO PROPERTY. (a) Tenant shall notify Landlord in writing immediately upon the occurrence of any damage (a "Casualty") to the Premises. In no event shall rent -------- xxxxx, nor shall this Lease terminate, because of a Casualty, except as provided below. If a material portion of the Premises is damaged or destroyed and (1) cannot be rebuilt and repaired due to applicable Law or (2) if a Casualty occurs during the last 12 months of the Term and such damage cannot be repaired within 30 days after such Casualty and Tenant has not elected to extend the Term as provided in Exhibit D, then Landlord or (if a Tenant Party did not cause such --------- Casualty) --------- Tenant may terminate this Lease by delivering to the other written notice thereof within 30 days after such Casualty, in which case, the rent shall be abated during the unexpired portion of the Term effective upon the date the Casualty occurred. Time is of the essence with respect to the delivery of such notices.