Common use of Substantial or Total Destruction Clause in Contracts

Substantial or Total Destruction. If the building or other improvements situated on the Property should be substantially or totally destroyed by fire, tornado or other casualty, or so damaged that rebuilding or repairs cannot reasonably be completed within 120 days from the date Landlord receives written notification by Tenant of the happening of the damage, this Lease shall terminate at the option of Landlord and rent shall be abated for the unexpired portion of this Lease, effective from the date of receipt by Landlord of such written notification. If this Lease is not terminated, the building and the improvements shall be rebuilt or repaired and rent abated to the extent provided under Section 8.02.

Appears in 3 contracts

Samples: Lease Renewal Agreement (Argyle Security, Inc.), Lease Agreement (Usaradio Com Inc), Lease Agreement (Intellisys Group Inc)

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Substantial or Total Destruction. If the building or other improvements situated on the Property should be substantially or totally destroyed by fire, tornado or other casualty, or so damaged that rebuilding or repairs cannot reasonably be completed within 120 days from the date Landlord receives written notification by Tenant of the happening of the damage, this Lease lease shall terminate at the option of Landlord and rent shall be abated for the unexpired portion of this Leaselease, effective from the date of receipt by Landlord of such written notification. If this Lease lease is not no terminated, the building and the improvements shall be rebuilt or repaired and rent abated to the extent provided under Section 8.02.

Appears in 1 contract

Samples: Lease Agreement (Pharmaceutical Laboratories Inc)

Substantial or Total Destruction. If the building or other improvements situated on the Property should be Demised Premises are substantially or totally destroyed by fire, tornado tornado, or other casualty, or so damaged that rebuilding or repairs cannot reasonably be completed within 120 one hundred twenty (120) days from the date Landlord receives written notification by Tenant of the happening of the damage, this Lease shall terminate at the option of either Landlord or Tenant and rent monthly installments of Rent shall be abated for the unexpired portion of this Lease, effective from the date of receipt by Landlord or Tenant of such written notification. If this Lease is not terminated, the building and the improvements shall be rebuilt or repaired and rent monthly installments of Rent abated to the extent provided under Section 8.02.

Appears in 1 contract

Samples: Commercial Lease Agreement (Craftmade International Inc)

Substantial or Total Destruction. If the building or other improvements situated on the Property should be Demised Premises are substantially or totally destroyed by fire, tornado tornado, or other casualty, or so damaged that rebuilding or repairs cannot reasonably be completed within 120 one hundred twenty (120) days from the date Landlord receives written notification by Tenant of the happening of the damage, this Lease shall terminate at the option of either Landlord or Tenant and rent monthly installments of Rent shall be abated for the unexpired portion of this Lease, effective from the date of receipt by Landlord or Tenant of such written notification. If this Lease is not terminated, the building and the improvements shall be rebuilt or repaired and rent monthly installments of Rent abated to the extent provided under Section 8.02.. ARTICLE NINE: CONDEMNATION [Omitted]

Appears in 1 contract

Samples: Lease Agreement (Global Election Systems Inc)

Substantial or Total Destruction. If the building or other improvements situated on the Property should be Demised Premises are substantially or totally destroyed by fire, tornado tornado, or other casualty, or so damaged that rebuilding or repairs cannot reasonably be completed within 120 one hundred twenty (120) days from the date Landlord receives written notification by Tenant of the happening of the damage, this Lease shall terminate at the option of either Landlord or Tenant and rent monthly installments of Rent shall be abated for the unexpired portion of this Lease, effective from the date of receipt by Landlord or Tenant of such written notification. If this Lease is not terminated, the building and the improvements shall be rebuilt or repaired and rent monthly installments of Rent abated to the extent provided under Section 8.02.

Appears in 1 contract

Samples: Commercial Lease Agreement (Custom Chrome Inc /De)

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Substantial or Total Destruction. If the building or other improvements situated on the Property should be Demised Premises are substantially or totally destroyed by fire, tornado tornado, or other casualty, or so to damaged that rebuilding or repairs cannot reasonably be completed within 120 one hundred twenty (120) days from the date Landlord receives written notification by Tenant of the happening of the damage, this Lease shall terminate at the option of either Landlord or Tenant and rent monthly installments of Rent shall be abated for the unexpired portion of this Lease, effective from the date of receipt by Landlord or Tenant of such written notification. If this Lease is not terminated, the building and the improvements shall be rebuilt or repaired and rent monthly installments of Rent abated to the extent provided under Section 8.028.2.

Appears in 1 contract

Samples: Commercial Industrial Sublease Agreement (Ilex Oncology Inc)

Substantial or Total Destruction. If the building or other improvements situated on the Property should be Demised Premises are substantially or totally destroyed by fire, tornado tornado, or other casualty, or so damaged that rebuilding or repairs cannot reasonably be completed within 120 ninety (90) days from the date Landlord receives written notification by Tenant of the happening of the damage, this Lease shall terminate at the option of either Landlord or Tenant and rent monthly installments of Rent shall be abated for the unexpired portion of this Lease, effective from the date of receipt by Landlord of or Tenant or such written notification. If this Lease is not terminated, the building and the improvements shall be rebuilt or repaired and rent monthly installments of Rent abated to the extent provided under Section 8.02.

Appears in 1 contract

Samples: Commercial Lease Agreement (Network 1 Security Solutions Inc)

Substantial or Total Destruction. If the building or other improvements situated on the Property should be Demised Premises are substantially or totally destroyed by fire, tornado tornado, or other casualty, or so damaged that rebuilding or repairs cannot reasonably be completed within 120 one hundred twenty (120) days from the date Landlord receives written notification by Tenant of the happening of the damage, this Lease shall terminate at the option of either Landlord or Tenant and rent monthly installments of Rent shall be abated for the unexpired portion of this Lease, effective from the date of receipt by Landlord Or Tenant of such written notification. If this Lease is not terminated, the building and the improvements shall be rebuilt or repaired and rent monthly installments of Rent abated to the extent provided under Section 8.02.

Appears in 1 contract

Samples: Commercial Lease Agreement (MCK Communications Inc)

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