Partial Destruction of Shopping Center. In the event that seventy (70%) percent or more of the leasable area of the Shopping Center shall be damaged or destroyed by fire or other casualty, notwithstanding that the Leased Premises may be unaffected by such fire or other casualty, Landlord may terminate this Lease and the tenancy hereby created by giving to Tenant five (5) days prior written notice of its election to terminate which notice shall be given, if at all, not later than thirty (30) days following the date of said occurrence. Rent shall be adjusted as of the date of such termination. INTIALS: LANDLORD RB TENANT DL In the event that seventy (70%) percent or more of the leasable area of the Shopping Center shall be damaged or destroyed by fire or other casualty, notwithstanding that the Leased Premises may be unaffected by such fire or other casualty and such fire or casualty occurs during the last two years of the term of this Lease, Tenant may terminate this Lease and the tenancy hereby created by giving to Landlord five (5) days prior written notice of its election to terminate which notice shall be given, if at all, not later than thirty (30) days following the date of said occurrence. Rent shall be adjusted as of the date of such termination.
Partial Destruction of Shopping Center. In the event that fifty (50%) percent or more of the rentable area of the Shopping Center shall be damaged or destroyed by fire or other cause, notwithstanding any other provisions contained herein and that the Leased Premises may be unaffected by such fire or other cause, Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty (60) days after said occurrence, to elect to cancel and terminate this Lease. Upon the giving of such notice to Tenant, the term of this Lease shall expire by lapse of rime upon the third day after such notice is given, and Tenant shall vacate the Leased Premises and surrender the same to Landlord.
Partial Destruction of Shopping Center. In the event that fifty (50%) percent or more of the rentable area of the Shopping Center shall be damaged or destroyed by fire or other cause, notwithstanding any other provisions contained herein and that the Leased Premises may be unaffected by such fire or other cause, Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty (60) days after said occurrence, to elect to cancel and terminate this Lease. If, in the opinion of Landlord’s architect, the damage portion of the Shopping Center cannot be repaired or restored within two hundred seventy (270) days from the date of notice of Landlord’s architect’s opinion, which opinion shall be delivered to Tenant not later than forty five (45) days following the date that fifty (50%) percent or more of the rentable area of the Shopping Center shall be damaged or destroyed by fire or other cause, then Tenant shall have the right to terminate this Lease by notifying the Landlord in writing of such termination within sixty (60) days of receipt of Landlord’s architect’s opinion. Upon the giving of a termination notice by either Landlord or Tenant in accordance with this paragraph, the term of this Lease shall expire by lapse of time upon the third (3rd) day after such notice is given, and Tenant shall vacate the Leased Premises and surrender the same to Landlord.
Partial Destruction of Shopping Center. In the event that fifty (50) percent or more of the rentable area of the Shopping Center shall be damaged or destroyed by fire or other cause, notwithstanding that the leased premises may be unaffected by such fire or, other cause, Landlord or Tenant may terminate this lease and the tenancy hereby created by giving to Tenant or Landlord five (5) days prior written notice of Landlord's election to do so, which notice shall be given, if at all, within the 90 days following the date of said occurrence, rent shall be adjusted as of the date of said termination. In the event Landlord elects to repair the damage insurable under Xxxxxxxx's policies, any abatement of rent shall end five (5) days after notice by Landlord to Tenant that the demised premises have been repaired. Unless this lease is terminated by Landlord, Tenant shall, at its cost, repair and re-fixture the interior of the demised premises in a manner and to at lease condition equal to that existing prior to its destruction or casualty, and the proceed of all insurance carried by Tenant on its property and improvements shall be held in trust by Tenant for the purpose of said repair and replacement. In no event shall Landlord be liable for interruption to business of Tenant or for damage to or replacement or repair of Tenant's personal property, including inventory, trade fixtures, floor coverings, furniture and other property removable by Tenant under the provisions of this lease.
Partial Destruction of Shopping Center. In the event that fifty percent (50%) or more of the Leasable Floor Area of the Shopping Center shall be damaged or destroyed by fire or other cause, notwithstanding that the Premises may be unaffected by such fire or other cause, Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty (60) days after said occurrence, to cancel and terminate this Lease. Upon the giving of such notice, the Term shall expire by lapse of time upon the fifteenth (15th) day after such notice is given and Tenant shall vacate the Premises and surrender the same to Landlord.
Partial Destruction of Shopping Center. In the event that twenty-five percent (25%) or more of the rentable area of the Shopping Center shall be damaged or destroyed by fire or other cause, notwithstanding that the Premises may be unaffected by such fire or other cause, Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty (60) days from and after said occurrence, to elect to cancel and terminate this Lease. Upon the giving of such notice to Tenant, the term of this Lease shall expire by lapse of time upon the third day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. Nothing in this Section nor any other Section hereof shall be construed as a limitation of Tenant's liability for such occurrence, should such liability otherwise exist.
Partial Destruction of Shopping Center. In the event that fifty (50%) per cent or more of the total leaseable area of the Shopping Center shall be damaged or destroyed by fire or other cause, notwithstanding that the Leased Premises may be unaffected by such fire or other cause, Landlord may terminate this lease and the tenancy hereby created by giving to Tenant five (5) days prior written notice of Landlord's election so to do, which notice shall be given, if at all, within the sixty (60) days following the date of said occurrence. Rent shall be adjust as of the date of such termination.
Partial Destruction of Shopping Center. In the event that fifty percent (50%) or more of the rentable area of the Shopping Center shall be damaged or destroyed by fire or other cause, notwithstanding that the Premises may be unaffected by such fire or other cause. Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty (60) days from and after said occurrence, to elect to cancel and terminate this Lease. Upon the giving of such notice to Tenant, the term of this Lease shall expire by lapse of time upon the ninetieth (90th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. Nothing in this Section nor any other Section hereof shall be construed as a limitation of Tenant's liability for such occurrence, should such liability otherwise exist.
Partial Destruction of Shopping Center. In the event that fifty percent (50%) or more of the gross leasable area of the building in the Shopping Center of which Tenant's Premises forms a part, shall be damaged or destroyed by fire or other causes notwithstanding that the Leased Premises may be unaffected by such fire or other cause, Landlord shall have the right, to be exercised by notice in writing delivered to Tenant within sixty (60) days from and after said occurrence, to cancel and terminate this Lease. Upon the giving of such notice to Tenant, the term of this Lease shall expire by lapse of time upon the fifteenth (15th) day after such notice is given and Tenant shall vacate the Leased Premises and surrender the same to Landlord.
Partial Destruction of Shopping Center. In the event that seventy-five percent (75%) or more of the rentable area of the Shopping Center shall be damaged or destroyed by fire or other cause, notwithstanding that the leased Premises may be unaffected by such fire or other cause, Owner shall have the right, to be exercised by notice in writing delivered to Tenant within sixty (60) days from and after said occurrence, to elect to cancel and terminate this lease. In the event Owner exercises such right, Owner shall reimburse Tenant for the cost of all construction costs and permanent improvements, less accumulated depreciation based upon a ten-year life for said improvements. Upon the giving of such notice to Tenant, the term of this lease shall expire by lapse of time upon the third day after such notice is given, and Tenant shall vacate the leased premises and surrender the same to Owner.
