Common use of Other Damage Clause in Contracts

Other Damage. If the Premises or the Building is substantially or totally destroyed by any cause whatsoever which is not covered by the foregoing provisions of this Paragraph 12, this Lease shall terminate as of the date the destruction occurred; provided, however, that if the damage does not exceed thirty percent (30%) of the full construction replacement cost of the Building or Premises respectively, Landlord may elect (but will not be required) to rebuild the Premises at Landlord’s own expense, in which case this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within thirty (30) days after the casualty.

Appears in 2 contracts

Samples: Lease (AbSci Corp), Lease (AbSci Corp)

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Other Damage. If the Premises or the Building is substantially or totally destroyed by any cause whatsoever which is not covered by the foregoing provisions of this Paragraph 1213, this Lease shall terminate as of the date the destruction occurred; provided, however, that if the damage does not exceed thirty percent (30%) of meet the full construction replacement cost of the Building or Premises respectivelyLandlord Damage Threshold, Landlord may elect (but will not be required) to rebuild the Premises at Landlord’s own expense, in which case this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within thirty (30) days after the casualty.

Appears in 2 contracts

Samples: Office Lease Agreement, Office Lease (Lionbridge Technologies Inc /De/)

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Other Damage. If the Premises or the Building is substantially or totally destroyed by any cause whatsoever which is not covered by the foregoing provisions of this Paragraph 12, this Lease shall terminate as of the date the destruction occurred; provided, however, that if the damage does not exceed thirty percent (30%) of meet the full construction replacement cost of the Building or Premises respectivelyDamage Threshold, Landlord may elect (but will not be required) to rebuild the Premises at Landlord’s own expense, in which case this Lease shall remain in full force and effecteffect (subject to the terms of Paragraph 12.1 above). Landlord shall notify Tenant of such election within thirty (30) days after the casualty.

Appears in 1 contract

Samples: Lease Agreement (Cardiva Medical, Inc.)

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