Common use of Substantial or Total Destruction Clause in Contracts

Substantial or Total Destruction. If the Premises is substantially or totally destroyed by any cause whatsoever (meaning, the damage to the Premises is greater than partial damage as described in Section 7.01), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate as of the date the destruction occurred. Notwithstanding the preceding sentence, if the Premises can be rebuilt within six (6) months after the date of destruction, Landlord may elect 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 Tenant’s notice of the occurrence of total or substantial destruction. If Landlord so elects, Landlord shall rebuild the Premises at Landlord’s sole expense.

Appears in 2 contracts

Samples: Work Letter Agreement (Ziprecruiter, Inc.), Work Letter Agreement (Ziprecruiter, Inc.)

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Substantial or Total Destruction. If the Premises Property is substantially or totally destroyed by any cause whatsoever (meaningi.e., the damage to the Premises Property is greater than partial damage as described in Section 7.017.02), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate as of the date the destruction occurred. Notwithstanding the preceding sentence, if the Premises Property can be rebuilt within six (6) months after the date of destruction, Landlord may elect to rebuild the Premises Property at Landlord’s '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 Tenant’s 's notice of the occurrence of total or substantial destruction. If Landlord so elects, Landlord shall rebuild the Premises Property at Landlord’s 's sole expense.

Appears in 2 contracts

Samples: Lease (99 Cents Only Stores), 99 Cents Only Store

Substantial or Total Destruction. If the Premises Property is substantially or totally destroyed by any cause whatsoever (meaningi.e., the damage to the Premises Property is greater than partial damage as described in Section 7.017.1), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate as of the date the destruction occurred. Notwithstanding the preceding sentence, if the Premises Property can be rebuilt within six two (62) months after the date of destruction, Landlord may elect to rebuild the Premises Property at Landlord’s 's own expense, in which case this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within thirty fifteen (3015) days after Tenant’s 's notice of the occurrence of total or substantial destruction. If Landlord so elects, Landlord shall rebuild the Premises at Landlord’s sole expensedestructxxx.

Appears in 1 contract

Samples: Genetic Vectors Inc

Substantial or Total Destruction. If the Premises Property is substantially or totally destroyed by any cause whatsoever (meaningi.e., the damage to the Premises Property is greater than partial damage as described in Section 7.01), and regardless of whether Landlord Tenant receives any insurance proceeds, this Lease shall terminate as of the date the destruction occurred. Notwithstanding the preceding sentence, if the Premises Property can be rebuilt within six (6) months after the date of destruction, Landlord may elect (but is not required) to rebuild the Premises at Landlord’s own expenseProperty, but only if the insurance proceeds are in sufficient amounts, in which case this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within thirty (30) days after Tenant’s 's notice of the occurrence of total or substantial destruction. If Whether or not this Lease terminates or Landlord so electselects to rebuild, Tenant shall pay to Landlord shall rebuild the Premises at Landlord’s sole expenseall available insurance proceeds.

Appears in 1 contract

Samples: Agreement for Purchase and Sale of Real Estate (Samsonite Corp/Fl)

Substantial or Total Destruction. If the Premises Property is substantially or totally destroyed by any cause whatsoever (meaningi.e., the damage to the Premises Property is greater than partial damage as described in Section 7.01), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate as of the date the destruction occurred. Notwithstanding the preceding sentence, if the Premises Property can be rebuilt within six (6) months after the date of destruction, Landlord may elect to rebuild the Premises Property 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 Tenant’s notice of the occurrence of total or substantial destruction. If Landlord so elects, Landlord shall rebuild the Premises at Landlord’s sole expense.

Appears in 1 contract

Samples: Lease Agreement Between (Biolife Solutions Inc)

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Substantial or Total Destruction. If the Premises Property is substantially or totally destroyed by any cause whatsoever (meaningi.e., the damage to the Premises Property is greater than partial damage as described in Section 7.017.02), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate as the later of (i) the date the destruction occurred, and (ii) the date Tenant ceases to do business at the Property. Notwithstanding the preceding sentence, if the Premises Property can be rebuilt within six (6) months after the date of destruction, Landlord may elect to rebuild the Premises Property at Landlord’s 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 Tenant’s 's notice of the occurrence of total or substantial destruction. If Landlord so elects, Landlord shall rebuild the Premises at Landlord’s sole expense.substantial

Appears in 1 contract

Samples: Lease Agreement (Luminex Lighting Inc)

Substantial or Total Destruction. If Subject to Section 7.2, if the Premises Property is substantially or totally destroyed by any cause whatsoever (meaningi.e., the damage to the Premises Property is greater than partial damage as described in Section 7.017.1), and regardless of whether Landlord receives any insurance proceeds, this Lease shall terminate as of the date the destruction occurred. Notwithstanding the preceding sentence, if the Premises Property can be rebuilt within six twelve (612) months after the date of destruction, Landlord may elect to rebuild the Premises at Landlord’s own expenseProperty, in which case this Lease shall remain in full force and effect. Landlord shall notify Tenant of such election within thirty (30) days after Tenant’s 's notice of the occurrence of total or substantial such destruction. If Landlord so elects, Landlord shall rebuild the Premises at Landlord’s sole expense.

Appears in 1 contract

Samples: Xylan Corp

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