Common use of Partial Destruction Clause in Contracts

Partial Destruction. If this Lease is not terminated under Section 7.01, Lessor shall at its sole risk and expense proceed with reasonable diligence to rebuild or repair the Building or other improvements to substantially the same condition in which they existed prior to the damage, provided, Lessor has no obligation to repair or rebuild Lessee's furniture, fixtures or personal property. If the destruction was caused by an act or omission of Lessee, its employees, agents, or invitees, Lessee shall pay Lessor the difference between the actual cost of rebuilding or repairing the Leased Premises and any insurance proceeds received by Lessor. If the Leased Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, either because of the damage or the rebuilding or repairing, and the damage or destruction was not caused or substantially contributed to by any act or negligence of Lessee, its agents, employees, invitees or those for whom Lessee is responsible, the rent payable under this Lease during the period for which the Leased Premises are untenantable will be adjusted to such an extent as may be fair and reasonable under the circumstances. If Lessor fails to complete the necessary repairs or rebuilding within one hundred fifty days from the date of the destruction, Lessee may at its option terminate this Lease by delivering written notice of termination to Lessor, whereupon all rights and obligations under this Lease cease to exist. If any damage or destruction occurs to the Leased Premises during the last twenty-four (24) months of the Lease term, Lessor may elect to terminate this Lease as of the date Lessee notifies Lessor of such damage. Lessor and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property and agree that their respective rights in the event of damage or destruction are those specifically set forth herein.

Partial Destruction. If the Leased Premises should be partially damaged by fire or other casualty, and rebuilding or repairs can reasonably be completed in Landlord’s reasonable opinion within one hundred eighty (180) working days from the date of written notification by Tenant to Landlord of the destruction, this Lease is shall not terminated under Section 7.01terminate, Lessor and Landlord shall at its sole risk and expense proceed with reasonable diligence to rebuild or repair the Building Leased Premises (and any Common Elements (defined in the Condominium Declaration) necessary for their operation) or other improvements to substantially the same condition in which they existed prior to the damage, provided, Lessor has no obligation to repair or rebuild Lessee's furniture, fixtures or personal property. If the destruction was caused by an act or omission of Lessee, its employees, agents, or invitees, Lessee shall pay Lessor the difference between the actual cost of rebuilding or repairing the Leased Premises and any insurance proceeds received by Lessor. If the Leased Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, either because of the damage or the rebuilding or repairing, and the damage or destruction was not caused or substantially contributed to by any act or negligence of Lessee, Tenant or its agents, employees, invitees invitees, or those for whom Lessee Tenant is responsible, the rent Rent payable under this Lease during the period for which the Leased Premises are untenantable will shall be adjusted or abated to such an extent as may be fair and reasonable under the circumstances. If Lessor In the event that Landlord fails to substantially complete the necessary repairs or rebuilding within one two hundred fifty forty (240) working days from the date of written notification by Tenant to Landlord of the destruction, Lessee Tenant may at its option terminate this Lease by delivering written notice of termination to LessorLandlord before such time as Landlord has substantially completed the repairs or rebuilding, whereupon all rights and obligations under this Lease shall cease to exist. If Notwithstanding anything set forth herein to the contrary, Landlord’s duty or obligation to repair or rebuild the Leased Premises shall be limited to the extent, and only to the extent, of the insurance proceeds Landlord actually receives, in connection with any such damage or destruction occurs to the Leased Premises during the last twenty-four (24) months of the Lease term, Lessor may elect to terminate this Lease as of the date Lessee notifies Lessor of after deducting Landlord’s reasonable costs and expenses in obtaining such damage. Lessor and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property and agree that their respective rights in the event of damage or destruction are those specifically set forth hereininsurance proceeds.

Partial Destruction. If this Lease is not terminated under Section 7.01, Lessor shall shall, at its sole risk and expense expense, proceed with reasonable diligence to rebuild or repair the Building or other improvements to substantially the same condition in which they existed prior to the damage, provided, Lessor has no obligation to repair or rebuild Lessee's ’s furniture, fixtures or personal property. If the destruction was caused by an act or omission of Lessee, its employees, agents, or invitees, Lessee shall pay Lessor the difference between the actual cost of rebuilding or repairing the Leased Premises and any insurance proceeds received by Lessor. If the Leased Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, either because of the damage or the rebuilding or repairing, and the damage or destruction was not caused or substantially contributed to by any act or negligence of Lessee, its agents, employees, invitees or those for whom Lessee is responsible, the rent payable under this Lease during the period for which the Leased Premises are untenantable will be adjusted to such an extent as may be fair and reasonable under the circumstances. If Lessor fails to complete the necessary repairs or rebuilding within a reasonable time following Lessor’s receipt of notice of such casualty (not to exceed one hundred fifty (150) days from the date of written notification by Lessee to Lessor of the destruction), Lessee may at its option terminate this Lease by delivering written notice of termination to Lessor, whereupon all rights and obligations under this Lease cease to exist. If any damage or destruction occurs to the Leased Premises during the last twenty-four (24) months of the Lease termterm of this Lease, Lessor or Lessee may elect to terminate this Lease as of the date Lessee notifies Lessor of such damage. Lessor and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property and agree that their respective rights in the event of damage or destruction are those specifically set forth herein.

Partial Destruction. If this Lease is not terminated under Section 7.01, Lessor shall shall, at its sole risk and expense expense, proceed with reasonable diligence to rebuild or repair the Building or other improvements to substantially the same condition in which they existed prior to the damage, provided, Lessor has no obligation to repair or rebuild Lessee's ’s furniture, fixtures or personal property. If Subject to Section 7.4, if the destruction was caused by an act or omission of Lessee, its employees, agents, or invitees, Lessee shall pay Lessor the difference between the actual cost of rebuilding or repairing the Leased Premises and any insurance proceeds received by Lessor. If the Leased Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, either because of the damage or the rebuilding or repairing, and the damage or destruction was not caused or substantially contributed to by any act or negligence of Lessee, its agents, employees, invitees or those for whom Lessee is responsible, the rent payable under this Lease during the period for which the Leased Premises are untenantable will be adjusted to such an extent as may be fair and reasonable under the circumstances. If Lessor fails to complete the necessary repairs or rebuilding within one hundred fifty eighty (180) days from the date of written notification by Lessee to Lessor of the destruction, Lessee may at its option terminate this Lease by delivering written notice of termination to Lessor, whereupon all rights and obligations under this Lease cease to exist. If any damage or or, destruction occurs to the Leased Premises during the last twenty-four (24) months of the term of this Lease termthat would otherwise give Lessor the right to terminate this Lease, Lessor or Lessee may elect to terminate this Lease as of the date Lessee notifies Lessor of such damage. Lessor and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property and agree that their respective rights in the event of damage or destruction are those specifically set forth herein.

Partial Destruction. If following damage or destruction to the Leased Premises or Building by fire or other casualty, this Lease Agreement is not terminated under pursuant to Section 7.017.1 hereof, Lessor Landlord shall at its sole risk and expense proceed with reasonable diligence to rebuild or repair the Building or Building, Leased Premises and other improvements to substantially the same condition conditions in which they existed prior to the damage, provided, Lessor has no obligation to repair or rebuild Lessee's furniture, fixtures or personal property. If the destruction was caused by an act or omission Tenant’s use of Lessee, its employees, agents, or invitees, Lessee shall pay Lessor the difference between the actual cost of rebuilding or repairing the Leased Premises and any insurance proceeds received by Lessor. If or the conduct of its business is impaired due to the damage, whether or not the Leased Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, either because of the damage or the rebuilding or repairing, and the damage or destruction was not caused or substantially contributed to by any act or negligence of Lessee, its agents, employees, invitees or those for whom Lessee is responsiblethemselves damaged, the rent payable under this Lease during the period for of impairment shall be equitably reduced based on the degree to which Tenant’s use and enjoyment of the Leased Premises are untenantable will impaired. Landlord’s obligation to rebuild or restore under this Section shall be adjusted limited to such an extent as may be fair restoring the Leased Premises and reasonable Building to substantially the condition in which the same existed prior to the casualty, exclusive of improvements for which Tenant is responsible under the circumstancesterms of this Lease, and Tenant shall, promptly after the completion of such work by Landlord, proceed with reasonable diligence and at Tenant’s sole cost and expense to restore those improvements for which Tenant is responsible under the Lease to substantially the condition in which the same existed prior to the casualty and to otherwise make the Leased Premises suitable for Tenant’s use. If Lessor this Lease is not terminated pursuant to Section 7.1 above, and if Landlord fails to substantially complete the necessary repairs or rebuilding within one hundred fifty ninety (90) days from the date of Landlord’s receipt of written notification by Tenant of the destruction, Lessee Tenant may at its option terminate this Lease by delivering written notice of termination to LessorLandlord, whereupon all rights and obligations under this Lease cease to exist. If any damage or destruction occurs to the Leased Premises during the last twenty-four (24) months of the Lease term, Lessor may elect to terminate this Lease as of the date Lessee notifies Lessor of such damage. Lessor and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property and agree that their respective rights in the event of damage or destruction are those specifically set forth hereinshall cease.

Partial Destruction. If the Leased Premises should be partially damaged by fire or other casualty, and rebuilding or repairs, in Landlord’s estimation, can be completed within one hundred eighty (180) days from the date of written notification by Tenant to Landlord of the destruction, this Lease is shall not terminated under Section 7.01terminate, Lessor shall at its sole risk and expense Landlord shall, to the extent of insurance proceeds received, then proceed with reasonable diligence to rebuild or and repair the Building or other improvements to substantially the same condition in which they existed prior to the damage. Landlord shall not be required, providedhowever, Lessor has no obligation to rebuild, repair or rebuild Lessee's furniturereplace any part of the partitions, fixtures fixtures, additions and other improvements which may have been placed in, on or personal property. If the destruction was caused by an act or omission of Lessee, its employees, agents, or invitees, Lessee shall pay Lessor the difference between the actual cost of rebuilding or repairing about the Leased Premises and any insurance proceeds received by LessorTenant or on behalf of Tenant as a part of Tenant finish out. If the Leased Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, either because of the damage or the rebuilding or repairing, and the damage or destruction was not caused or substantially contributed to by any act or negligence of LesseeTenant, its agents, employees, invitees or those for whom Lessee Tenant is responsible, the rent Base Rent payable under this Lease during the period for which the Leased Premises are untenantable will shall be adjusted to such an extent as may be fair and reasonable under the circumstances. If Lessor In the event that Landlord fails to complete the necessary repairs or rebuilding within one hundred fifty eighty (180) days from the date of written notification by Tenant to Landlord of the destruction, Lessee Tenant may at its option and as its sole remedy terminate this Lease by delivering written notice of termination to LessorLandlord, whereupon all rights and obligations under this Lease cease to existshall cease. If any damage or destruction occurs Notwithstanding anything herein to the Leased Premises during contrary, if the last twenty-four (24) months holder of any indebtedness secured by a mortgage or deed of trust covering the Lease termBuilding and/or the Property requires that the insurance proceeds be applied to such indebtedness, Lessor may elect then Landlord shall have the right to terminate this Lease as by delivering written notice of the date Lessee notifies Lessor of termination to Tenant within fifteen (15) days after such damage. Lessor requirement is made, and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property all rights and agree that their respective rights in the event of damage or destruction are those specifically set forth hereinobligations under this Lease shall then cease.

Partial Destruction. If this Lease the premises are only partially destroyed, for any reason whatsoever, it is not terminated under Section 7.01agreed that: - if the Lessee should suffer serious difficulties in its business and the repair, Lessor shall at its sole risk and expense proceed with reasonable diligence to rebuild restoration, reconstruction or repair replacement work of the Building damaged, deteriorated or other improvements to substantially the same condition in which they existed prior destroyed sections should last more than two years according to the damageLessor’s architect, providedthe Lessee and the Lessor may terminate this lease simply through sending a registered letter with acknowledgement of receipt, Lessor has no obligation to repair or rebuild Lessee's furniturewithout compensation, fixtures or personal property. If the destruction was caused by an act or omission of Lessee, its employees, agents, or invitees, Lessee shall pay Lessor the difference between the actual cost of rebuilding or repairing the Leased Premises and any insurance proceeds received by Lessor. If the Leased Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, either because of the damage for one or the rebuilding or repairingother, and the damage or destruction was not caused or substantially contributed to by any act or negligence of Lessee, its agents, employees, invitees or those for whom Lessee is responsible, the rent payable under this Lease during the period for which the Leased Premises are untenantable will be adjusted to such an extent as may be fair and reasonable under the circumstances. If Lessor fails to complete the necessary repairs or rebuilding all within one hundred fifty 30 days from the date letter of notification from the Lessor’s architect. - If, conversely, the partial destruction of the premises would not lead to serious difficulties in the Lessee’s business and if the duration of the repair, restoration, reconstruction or replacement work should be less than two years according to the Lessor’s architect, as in the case where neither the Lessee nor the Lessor would request the termination of this lease by virtue of the clause above, the Lessor shall undertake the repair, restoration, reconstruction or replacement work of the damaged, deteriorated or destroyed sections by alone retaining the right for compensation for these repairs, restorations or replacement, both from its Insurance Company and, if applicable, the Lessee’s Insurance Company. Due to the loss of enjoyment resulting from the partial destruction of the premises and the above-mentioned works, the Lessee will have the right to reduced rent calculated in relation to the duration of the loss of enjoyment and the proportion of this loss in relation to the Rented Premises. The above-mentioned reduction in rent will be calculated according to the chosen expert by mutual agreement between the parties or, failing that, appointed by the President of the Court of First Instance who shall decide in summary proceedings. In this case, the Lessee already waives any recourse towards the Lessor, regarding both the loss of enjoyment as well as the possible reduction in rent, fixed as set out above. In the different cases above, the Lessor will retains its rights, if any, against the Lessee if the destruction, Lessee may at its option terminate this Lease by delivering written notice of termination to Lessorwhether total or partial, whereupon all rights and obligations under this Lease cease to exist. If any damage or destruction occurs can be attributed to the Leased Premises during the last twenty-four (24) months of the Lease term, Lessor may elect to terminate this Lease as of the date Lessee notifies Lessor of such damage. Lessor and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property and agree that their respective rights in the event of damage or destruction are those specifically set forth hereinLessee.

Partial Destruction. If this Lease In the event any portion of the Building is not terminated under Section 7.01damaged by fire or other casualty, Lessor Tenant shall at its sole risk and expense provide Landlord written notice of the same as soon as practicable thereafter. Following damage or destruction to the Building by fire or other casualty, Landlord shall proceed with reasonable diligence to rebuild or repair the Building or and other improvements to substantially the same condition conditions in which they existed prior to the damage, provided, Lessor has no obligation such damage or destruction only if insurance proceeds are available to repair or rebuild Lessee's furniture, fixtures or personal propertyLandlord to effect such rebuilding and repair. If the destruction was caused by an act or omission of Lessee, its employees, agents, or invitees, Lessee shall pay Lessor the difference between the actual cost of rebuilding or repairing the Leased Premises and any insurance proceeds received by Lessor. If the Leased Premises are Building is to be rebuilt or repaired and are untenantable in whole or in part following the damage, either because of the damage or the rebuilding or repairing, and the damage or destruction was not caused or substantially contributed to by any act or negligence of LesseeTenant, its agents, employees, invitees or those others for whom Lessee Tenant is responsible, then the rent Rent and any Additional Rent payable under this Lease during the period for which the Leased Premises are Building is untenantable will shall be adjusted abated. Landlord’s obligation to such an extent as may rebuild or restore under this paragraph shall be fair and reasonable under limited to restoring the circumstancesBuilding to substantially the condition in which the same existed prior to the casualty. If Lessor fails Landlord has failed to substantially complete the necessary repairs rebuilding or rebuilding restoration required by this paragraph within one two hundred fifty ten (210) days from the date of Landlord’s receipt of written notification by Tenant of the destructionapplicable damage or destruction at issue or, Lessee in Tenant’s reasonable opinion, Landlord intentionally delays the beginning of the rebuilding or restoration, Tenant may at its option (i) complete the rebuilding or restoration on its own and charge Landlord for all commercially reasonable and necessary costs incurred; provided, however, Tenant provides Landlord with reasonably detailed documentation of such costs, or (ii) if it is determined that insurance proceeds available to Tenant to effect such rebuilding and restoration are not sufficient to restore the Building to substantially the condition in which the same existed prior to the casualty, to terminate this Lease by delivering written notice of such termination to LessorLandlord, whereupon all rights and obligations under in which case the Rent, Additional Rent or any other payment required to be made by Tenant pursuant to this Lease cease to exist. If any damage or destruction occurs to the Leased Premises during the last twenty-four (24) months of the Lease term, Lessor may elect to terminate this Lease shall be abated effective as of the date Lessee notifies Lessor of such damage. Lessor and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property and agree that their respective rights in the event of damage or destruction are those specifically set forth hereintermination.

Partial Destruction. If the leased premises should be partially damaged by fire or other casualty, and rebuilding or repairs can reasonably be completed within one hundred twenty days from the date of written notification by Lessee to Lessor of the destruction, this Lease is shall not terminated under Section 7.01terminate, and Lessor shall at its sole risk and expense proceed with reasonable diligence to rebuild or repair the Building building or other improvements to substantially the same condition in which they existed prior to the damage, provided, Lessor has shall have no obligation to repair or rebuild Lessee's furniture, fixtures or personal property. If the destruction was caused by an act or omission of Lessee, its employees, agents, or invitees, Lessee shall pay Lessor the difference between the actual cost of rebuilding or repairing the Leased Premises leased premises and any insurance proceeds received by Lessor. If the Leased Premises leased premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, either because of the damage or the rebuilding or repairing, and the damage or destruction was not caused or substantially contributed to by any act or negligence of Lessee, its agents, employees, invitees or those for whom Lessee is responsible, the rent payable under this Lease during the period for which the Leased Premises leased premises are untenantable will shall be adjusted to such an extent as may be fair and reasonable under the circumstances. If In the event that Lessor fails to complete the necessary repairs or rebuilding within one hundred fifty twenty days from the date of written notification by Lessee to Lessor of the destruction, Lessee may at its option terminate this Lease by delivering written notice of termination to Lessor, whereupon all rights and obligations under this Lease shall cease to exist. If any damage or destruction occurs to the Leased Premises during the last twenty-four (24) months of the Lease term, Lessor may elect to terminate this Lease as of the date Lessee notifies Lessor of such damage. Lessor and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property and agree that their respective rights in the event of damage or destruction are those specifically set forth herein.

Partial Destruction. If A. In the event that the leased premises or the Building shall be damaged substantially or destroyed by such fire or other casualty during the term of this Lease, or of any renewal term, then Landlord may, at its option, terminate this Lease is not terminated under Section 7.01and the term and estate hereby granted by notifying Tenant, Lessor shall at its sole risk and expense proceed with reasonable diligence to rebuild or repair in writing, of such termination within THIRTY (30) days after the Building or other improvements to substantially the same condition date of such damages, in which they existed prior to case this Lease and the damage, provided, Lessor has no obligation to repair or rebuild Lessee's furniture, fixtures or personal property. If the destruction was caused by an act or omission of Lessee, its employees, agents, or invitees, Lessee term and estate hereby granted shall pay Lessor the difference between the actual cost of rebuilding or repairing the Leased Premises and any insurance proceeds received by Lessor. If the Leased Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, either because expire as of the damage or date specified in such notice (which date shall not be fewer than THIRTY (30) days after the rebuilding or repairinggiving of such notice), as fully and completely as if such date were the date hereinbefore set for the expiration of the term of this Lease, and the damage or destruction was not caused or substantially contributed to rent and all other sums payable by any act or negligence of Lessee, its agents, employees, invitees or those for whom Lessee is responsible, the rent payable Tenant under this Lease during the period for which the Leased Premises are untenantable will shall be adjusted apportioned to such an extent as may be fair and reasonable under the circumstances. If Lessor fails to complete the necessary repairs or rebuilding within one hundred fifty days from the date of the destruction, Lessee may at its option terminate this Lease by delivering written notice of termination to Lessor, whereupon all rights and obligations under this Lease cease to existsuch termination. If any damage or destruction occurs to the Leased Premises during the last twenty-four (24) months of the Lease term, Lessor may elect Tenant shall be entitled to terminate this Lease as if the damages render the Premises untenantable and if Landlord is unable to substantially complete the repairs that are required to be made by Landlord within sixty (60) days of receipt of notice. Nothing herein contained shall relieve Tenant from any liability to Landlord or to its insurer in connection with any damage to the date Lessee notifies Lessor leased premises or to the Building by fire or other casualty if Tenant shall have been the cause of such damage. Lessor and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property and agree that their respective rights in the event of damage or destruction are those specifically set forth herein.

Partial Destruction. If the leased premises should be partially damaged by fire or other casualty, and rebuilding or repairs can reasonably be completed within ninety days from the date of written notification by Lessee to Lessor of the destruction, this Lease is shall not terminated under Section 7.01terminate, and Lessor shall at its sole risk and expense proceed with reasonable diligence to rebuild or repair the Building building or other improvements to substantially the same condition in which they existed prior to the damage, provided, damage provided Lessor has shall have no obligation to repair or rebuild Lessee's ’s furniture, fixtures or personal property. If the destruction was caused by an act or omission of Lessee, its employees, agents, or invitees, Lessee shall pay Lessor the difference between the actual cost of rebuilding or repairing the Leased Premises and any insurance proceeds received by Lessor. If Lessor if the Leased Premises leased premises are to be rebuilt rebuild or repaired and are untenantable in whole or in part following the damage, either because of the damage or the rebuilding or repairing, and the damage or destruction was not caused or substantially contributed to by any act or negligence of Lessee, its agents, employees, invitees or those for whom Lessee is responsible, the rent payable under this Lease during the period for which the Leased Premises leased premises are untenantable will shall be adjusted to such an extent as may be fair and reasonable under the circumstances. If Lessor fails to complete the necessary repairs or rebuilding within one hundred fifty days from the date of the destruction, Lessee may at its option terminate this Lease by delivering written notice of termination to Lessor, whereupon all rights and obligations under this Lease cease to exist. If any damage or destruction occurs to the Leased Premises leased premises during the last twenty-four (24) months of the Lease termTerm, Lessor may elect to terminate this Lease as of the date Lessee notifies Lessor of such damage. Lessor and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property and agree that their respective rights in the event of damage or destruction are those specifically set forth herein.

Partial Destruction. If the Leased Premises are partially damaged by fire or other casualty, and rebuilding or repairs can reasonably be completed within one hundred eighty (180) days from the date of written notification by Lessee to Lessor of the destruction, this Lease is will not terminated under Section 7.01terminate, and Lessor shall at its sole risk and expense proceed with reasonable diligence to rebuild or repair the Building or other improvements to substantially the same condition in which they existed prior to the damage, provided, Lessor has no obligation to repair or rebuild Lessee's furniture, fixtures or personal property. If the destruction was caused by an act or omission of Lessee, its employees, agents, or invitees, Lessee shall pay Lessor the difference between the actual cost of rebuilding or repairing the Leased Premises and any insurance proceeds received by Lessor. If the Leased Premises are to be rebuilt or repaired and are untenantable in whole or in part following the damage, either because of the damage or the rebuilding or repairing, and the damage or destruction was not caused or substantially contributed to by any act or negligence of Lessee, its agents, employees, invitees or those for whom Lessee is responsible, the rent payable under this Lease during the period for which the Leased Premises are untenantable will be adjusted to such an extent as may be fair and reasonable under the circumstances. If Lessor fails to complete the necessary repairs or rebuilding within one hundred fifty days from the date of written notification by Lessee to Lessor of the destruction, Lessee may at its option terminate this Lease by delivering written notice of termination to Lessor, whereupon all rights and obligations under this Lease cease to exist. If any damage or destruction occurs to the Leased Premises during the last twenty-four (24) months of the Lease term, Lessor may elect to terminate this Lease as of the date Lessee notifies Lessor of such damage. Lessor and Lessee hereby waive the provisions of any law from time to time in effect during the Term relating to the effect upon leases of partial or total destruction of Leased property and agree that their respective rights in the event of damage or destruction are those specifically set forth herein.