Common use of Destruction or Condemnation Clause in Contracts

Destruction or Condemnation. Licensor and Licensee agree that Licensor shall in no way be liable for loss or use or other damage of any nature arising out of the loss, destruction or damage to the Premises or Licensee’s Equipment located thereon, by fire, explosion, windstorms, water or any other casualty or acts of third parties. In the event the Premises or any part thereof is damaged or destroyed by elements or any other cause, Licensor may elect to repair, rebuild, or restore the Premises or any part thereof, to at least the same condition as it was immediately prior to such casualty. In such event, the Fee shall cease as of the date of such casualty until the Premises, in Licensor’s opinion, is restored to a usable condition for Licensee’s operations. If Licensor chooses not to repair, restore or rebuild the Premises, Licensor shall send to Licensee a notice of cancellation of this License Agreement within thirty (30) days of such casualty. If this License Agreement is cancelled, the payments required herein shall terminate as of the date of such casualty.

Destruction or Condemnation. Licensor and Licensee agree that Licensor shall in no way be liable for loss or use or other damage of any nature arising out of the loss, destruction or damage to the Premises or Licenseelicensee’s Equipment located thereon, by fire, explosion, windstorms, water or any other casualty or acts of third parties. In the event the eventt he Premises or any part thereof is damaged or destroyed by elements or any other cause, Licensor may elect to repair, rebuild, or restore the Premises or any part thereof, to at least the same condition as it was immediately prior to such casualty. In such event, the Fee shall cease as of the date of such casualty until the Premises, in Licensor’s opinion, is restored to a usable condition for Licensee’s operations. If Licensor chooses not to repair, restore or rebuild the Premises, Licensor shall send to Licensee a notice of cancellation of this License Agreement within thirty (30) days of such casualty. If this License Agreement is cancelled, the payments required herein shall terminate as of the date of such casualty.