Common use of Substantial Destruction Clause in Contracts

Substantial Destruction. Any damage or destruction to the Premises or the Building which Landlord is not obligated to repair pursuant to Subparagraph 20(a) above will be deemed a substantial destruction. In the event of a substantial destruction, Landlord may elect to either: (i) repair reconstruct and restore the portion of the Building or the Premises damaged by such casualty in which case this Lease will continue in full force and effect, subject to Tenant's termination right contained in Subparagraph 20(c) below; or (ii) terminate this Lease effective as of the date of Tenant's receipt of Landlord s election to so terminate.

Appears in 2 contracts

Samples: Lease Agreement (Litronic Inc), Early Possession Agreement (Litronic Inc)

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Substantial Destruction. Any damage or destruction to the ----------------------- Premises or the Building which Landlord is not obligated to repair pursuant to Subparagraph Subsection 20(a) above will shall be deemed a substantial destruction. In the event of a substantial destruction, Landlord may elect to either: (i) repair repair, reconstruct and restore the portion of the Building or the Premises damaged by such casualty casualty, in which case this Lease will shall continue in full force and effect, subject to Tenant's termination right contained in Subparagraph 20(c) belowSubsection 20(d); or or (ii) terminate this Lease effective as of the date of Tenant's receipt of Landlord s election to so terminatesubstantial destruction.

Appears in 1 contract

Samples: Sublease Agreement (Auto by Tel Corp)

Substantial Destruction. Any damage or destruction to the Premises or the Building which Landlord is not obligated to repair pursuant to Subparagraph 20(a) above will be deemed a substantial destruction. In the event of a substantial destruction, Landlord may elect to either: (i) repair repair, reconstruct and restore the portion of the Building or the Premises damaged by such casualty casualty, in which case this Lease will continue in full force and effect, subject to Tenant's termination right contained in Subparagraph 20(c20(d) below; or (ii) terminate this Lease effective as of the date of Tenant's receipt of Landlord s election to so terminatesuch destruction.

Appears in 1 contract

Samples: Standard Industrial/Commercial Lease (Axsys Technologies Inc)

Substantial Destruction. Any damage or destruction to the Premises or the Building which Landlord is not obligated to repair pursuant to Subparagraph 20(a) above will be deemed a substantial destruction. In the event of a substantial destruction, Landlord may elect to either: either (i) repair repair, reconstruct and restore the portion of the Building or the Premises damaged by such casualty casualty, in which case this Lease will continue in full force and effect, subject to Tenant's termination right contained in Subparagraph 20(c20(d) below; or (ii) terminate this Lease effective as of the date of Tenant's receipt of Landlord s election to so terminatethe casualty.

Appears in 1 contract

Samples: Office Building Lease (California First National Bancorp)

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Substantial Destruction. Any damage or destruction to the Premises or the Building which Landlord is not obligated to repair pursuant to Subparagraph 20(a) above will be deemed a substantial destruction. In the event of a substantial destruction, destruction Landlord may elect to either: (i) repair reconstruct and restore the portion of the Building or the Premises damaged by such casualty in which case this Lease will continue in full force and effect, effect subject to Tenant's Tenant s termination right contained in Subparagraph 20(c) below; or (ii) terminate this Lease effective as of the date of Tenant's receipt of Landlord s election to so terminate.

Appears in 1 contract

Samples: Lease Agreement (Litronic Inc)

Substantial Destruction. Any damage or destruction to the Premises Building ----------------------- or the Building Parking Structure which Landlord is not obligated to repair pursuant to Subparagraph 20(a21(a) above will shall be deemed a substantial destruction. In the event of a substantial destruction, Landlord may elect to either: : (i) repair repair, reconstruct and restore the portion of the Building or the Premises and/or Parking Structure damaged by such casualty casualty, in which case this Lease will shall continue in full force and effect, subject to Tenant's termination right contained in Subparagraph 20(c2l(d) below; or or (ii) terminate this Lease effective as of the date of which is forty- five (45) days after Tenant's receipt of Landlord s Landlord's election to so terminate.

Appears in 1 contract

Samples: Office Building Lease (Kana Communications Inc)

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