Common use of Fire or Other Casualty Casualty Insurance Clause in Contracts

Fire or Other Casualty Casualty Insurance. (a) Substantial Destruction of the Building. If the Building should be substantially destroyed (which, as used herein, means destruction or damage to at least seventy-five percent (75%) of the Building) by fire or other casualty, Landlord may, at its option, terminate this Lease by giving written notice thereof to the Tenant within thirty (30) days of such casualty. In such event, the rent shall be apportioned to and shall cease as of the date of such casualty. If Landlord does not exercise this option, then the Tenant Finish Improvements in the Premises shall be reconstructed and restored, at Landlord’s expense, to substantially the same condition as existed prior to the casualty to the extent insurance proceeds are available therefor.

Fire or Other Casualty Casualty Insurance. (a) Substantial Destruction of the Building. If the Building should be substantially destroyed (which, as used herein, means destruction or damage to at least seventy-five percent (75%) of the Building) by fire or other casualty, Landlord either party hereto may, at its option, terminate this Lease by giving written notice thereof to the Tenant other party within thirty (30) days of such casualty. In such event, the rent shall be apportioned to and shall cease as of the date of such casualty. If Landlord does not exercise neither party exercises this option, then the Tenant Finish Improvements in the Premises shall be reconstructed and restored, at Landlord’s 's expense, to substantially the same condition as existed they were prior to the casualty to the extent insurance proceeds are available thereforcasualty.

Fire or Other Casualty Casualty Insurance. (a) Substantial Destruction of the Building. If the Building should be substantially destroyed ([which, as used herein, means destruction or damage to at least seventy-five percent (75%) of the Building) ] by fire or other casualty, Landlord may, at its option, terminate this Lease by giving written notice thereof to the Tenant within thirty (30) days of such casualty. In such event, the rent shall be apportioned to and shall cease as of the date of such casualty. If Landlord does not exercise this option, then the Tenant Finish Improvements Landlord’s Work in the Premises shall be reconstructed and restored, at Landlord’s expense, to substantially the same condition as existed prior to the casualty to the extent insurance proceeds are available therefor.